Audit Specialist- Financial + Central Services

Company

Federal Reserve Bank of San Francisco

Internal Audit's mission is to promote a comprehensive, effective, and efficient system of internal controls throughout the Bank. The scope of work of the internal auditing department is to determine whether the organization’s network of risk management, control, and governance processes, as designed and represented by management, is adequate and functioning as expected. To accomplish this, Internal Audit assists the Board of Directors in its responsibilities by providing an independent and objective assessment of the adequacy and effectiveness of controls over the reliability and integrity of financial and operational information, effectiveness and efficiency of operations and programs, safeguarding of assets, compliance with laws, regulations, policies, procedures, and contracts, and, by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Opportunities for improving management control, profitability, and the organization’s image may be identified during audits. They will be communicated to the appropriate level of management. Internal Audit also provides consulting services for management designed to improve the Bank’s governance, risk management and control processes without the auditor assuming management responsibilities.

The Audit Specialist will specialize in one or more business areas with moderately high or high rated risks within the Financial + Central Services Team’s audit portfolio (e.g. Financial Management, Human Resources, Credit + Risk Management, Supervision + Credit, etc.).

This position will be responsible for:

• Supervising and reviewing moderately high to high-risk audit work performed by other auditors, to ensure expected quality and risk assessments in accordance with established internal and external policies and audit standards, under limited direction and a high degree of independence. Evaluate audit team members performance after each assignment. This position may typically supervise 1-4 employees on an assignment basis and more for System audit lead roles.
• Defining appropriate risk-based audit scope and objectives for District and System audits, establish and commit to assignment time frames and budgets, develop new or revise existing audit programs.
• Identifying, assessing, and challenging the impact of audit exceptions, make appropriate recommendations and present clear and convincing explanations of the issues to audit management and operating personnel.
• Preparing written audit reports, requiring limited edits from internal reviews to business management at the conclusion of audit reviews.
• Appraising the adequacy of corrective action taken to address previously reported audit findings or findings identified by other assurance providers. Reviewing follow-up work performed by other auditors.
• Obtaining and maintaining a detailed knowledge base and awareness of activities in moderately high to high-risk areas of assigned District or System liaison coverage, review and analyze pertinent data, and learn how to assess the impact of changes. Developing or maintaining audit programs and perform risk assessments for assigned areas of liaison coverage.

• Building and maintaining a District and System-wide network of contacts within the Audit and Management communities.

ADDITIONAL RESPONSIBILITIES

• Lead District or System Audit wide groups or strategic initiatives. Utilize subject matter expertise from area(s) of specialization and provide consultative or analytical support to District or System auditors by maintaining specialist knowledge of System and industry policies, applications, governance, risks, and controls.
• Trains auditors and managers through formal presentations or on-the-job training on more complex topics. Serve as a subject matter expert in emerging audit tools, techniques, and practices (i.e., CAATS, project auditing, integrated audits). Demonstrates active mentoring and coaching role of less experienced auditors.
• Execute the approved audit program in accordance with established policies and standards under general direction with limited supervision. This includes the evaluation of governance and risks and determine the effectiveness of controls regarding the reliability and integrity of financial and operational information, the effectiveness and efficiency of operations, safeguarding of assets and compliance with applicable rules and regulations.
• Perform other duties as assigned.

Qualifications:

• Certified Internal Auditor (CIA), Certified Public Account (CPA), or Certified Information Systems Auditor (CISA) required within 24 months of placement in role.
• Exhibits advanced audit specific communication s