Unlocking a Rewarding Career in Banking: Innovation, Growth, and Internal Audit Excellence
On 19 February 2025, students at Nanyang Technological University (NTU) gained valuable insights into the world of internal audit at a collaborative event organised by UOB and NTU. Held at NTU Hive, the session, titled "Unlocking a Rewarding Career in Banking: Innovation, Growth, and Internal Audit Excellence", explored the exciting opportunities within internal audit, particularly in the banking sector.
Vincent Cheong, Head of Group Audit at UOB, commenced the session by highlighting the value that internal audit brings to organisations. He noted that internal auditors provide independent assurance and valuable insights that support strategic decision-making. By utilising tools such as data analytics (DA) and artificial intelligence (AI), auditors can more efficiently assess risks, governance, and control processes, offering deeper insights and driving organisational success in ways that traditional methods alone may not.
Vincent also underscored that internal auditors have the opportunity to collaborate closely with senior management and audit committees, making their role both engaging and influential. He also highlighted the unique advantage for internal auditors to gain a comprehensive organisational perspective, including the opportunity to audit international branches, which offers exposure to global operations and diverse business practices.
Chaitanya Muthaiyan, from Group Audit’s Innovation & Decision Science team, shared his personal journey, from starting as an intern in 2021 to securing a full-time role in 2023. His experience highlighted how AI and DA are transforming the way internal audit professionals approach their work, enabling them to perform more comprehensive analyses and provide valuable insights.
NTU alumni were central to the discussion, sharing their relatable and inspiring career journeys. Wong Shi Lin, currently with the Group Retail Banking Audit Division, spoke about how she transitioned into internal audit through the Career Conversion Programme (CCP) for Internal Auditors, an initiative by Workforce Singapore in collaboration with IIA Singapore and ACRA.
Fellow NTU alumni, Cherrie Ong, Head of Strategic Management & Professional Practices, and Wallace Toh, who started his career as an external auditor and is now with the Group Wholesale Banking Audit Division, also shared their career journeys. They discussed the challenges and opportunities they have encountered in the internal audit field, offering invaluable advice to students considering the profession.
Following the sharing session, students had the chance to engage with the UOB team one-on-one, allowing them to learn more about the profession. Many seized the opportunity to inquire about internship opportunities, career pathways, and the evolving role of internal audit in today’s fast-changing financial landscape.
The collaboration between UOB and NTU underscored the growing role of internal audit in the banking industry and provided students with valuable insights into the profession’s contributions to organisational success and risk management.
