Audit Specialist – Operations Audit Team

Job Description

CompanyFederal 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 Bank Operations Audit Team (e.g. Cash Operations, Federal Law Enforcement, Facilities Management, and other Administrative Services).

The Operations Audit Team travels occasionally to our branches within the district to perform on-site audit work. These offices include Los Angeles, Seattle, Phoenix, and Salt Lake City. Travel assignments are typically three to five days and occur on average one or two times each quarter.

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 skills including targeted verbal and writing skills in all team-internal and audit stakeholder related interactions addressing and resolving more ambiguous situations. Ability to resolve conflicts in challenging or highly complex situations.
• Proficient understanding of general audit applications, ability to perform or instruct others to perform complex data analytics, and advanced knowledge of general IT controls.
• Proficient knowledge of Microsoft Office.
• Advanced knowledge of risk management, compliance, and data related frameworks.
• Proficient understanding of concepts of risk and control specifically related to Bank operations in area of specialization. Ability to effectively challenge others judgment, and coach where applicable, when assessing these. Strong understanding of root cause analysis and proficient in leading related discussions. Proficient in assessing and distinguishing between control design, operational effectiveness, and outcome. Full understanding of the Institute of Internal Auditor’s International Professional Practices Framework (IPPF); and the Committee on Sponsoring Organizations (COSO) internal control and Enterprise Risk Management (ERM) risk assessment frameworks.
• Advanced presentation, facilitation, and project management skills.

Base Salary Range: Min: $105,300.00 – Mid: $136,700.00 – Max: $168,100.00 (San Francisco)

Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with market data.

Benefits

At the Federal Reserve Bank of San Francisco, we offer a wonderful benefits package including Medical, Dental, Vision, Pretax Flexible Spending Account, Paid Family Leave Care, Backup Child Care Program, Pretax Day Care Flexible Spending Account, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and an unheard-of Retirement / Pension.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

At the SF Fed, we believe in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve.

The SF Fed is an Equal Opportunity Employer.

#LI-Hybrid

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryInternal Oversight & Governance Family Group

Work ShiftFirst (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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