Our client, an elite university, is looking for an Internal Audit Associate to join their growing team.
30th September, 2021
Job Description & Synthesis
The Internal Audit Associate – in a client-facing role - plans and executes audits to evaluate operational, compliance, financial, and strategic risks, and related internal controls. They work with the Chief Audit Executive (CAE), and the University’s co-sourced internal audit services firm, to ensure successful completion of the audit plan and other internal audit activities. This unique role provides exposure to a variety of areas in a University setting, including administration, research, academics, operations, and information technology.
Reporting to the Senior Internal Auditor, the Internal Audit Associate performs primary duties and responsibilities, such as:
Identify and assess financial, operational, compliance, and strategic risks, and their reputational components, and evaluate the effectiveness of policies, procedures, systems, and internal controls to mitigate these risks.
Understand current manual and automated operating processes and related internal controls operating centrally and at the unit level through research, interviews, observation, and testing and be able to effectively capture these in process flows and/or narratives.
Test transactions (utilizing automated and/or traditional auditing methods) and analyze results to identify the themes and underlying root causes.
Develop practical and effective solutions to improve processes, systems, and the control environment and agree on these corrective action with management.
Prepare formal written reports that provide proper perspective and summarize observations that effectively communicate issues, control deficiencies, and additional opportunities to improve and mature processes and controls. These reports will also summarize the agreed-upon risk mitigation activities.
Perform activities that include interviews, inspection, and testing to determine the implementation status of agreed-upon action items.
Monitor project status and issues on a timely basis and report progress and issues to the project lead or Chief Audit Executive timely and regularly.
Work in a team and independently, and interact appropriately with all levels of personnel, building working relationships, and establishing a network of internal and external contacts.
Demonstrate a strong understanding of the Higher Education industry and proactively monitor and communicate industry trends and risks.
Perform assigned duties in accordance with the accepted professional standards requiring: a) independence and objectivity; b) knowledge of accounting principles and standards, proper financial and administrative control procedures and good business practices; and c), and ability to assess risk, relative to the proper application of controls.
Bachelor’s degree in Accounting or Business, or related field
0 to 3 years of External or Internal Audit experience
Track record of risk assessment, problem identification, analytical problem solving, and issue resolution
Ability to learn quickly with strong foundation in understanding and assessing processes and controls
Excellent written/verbal communication skills with the ability to regularly present to groups
Availability and willingness to work as needed outside of usual business hours of the university
Willingness to travel between university campuses
Certified Public Accountant (CPA) or Certified Internal Auditor (CIA)
Experience with Microsoft Office and audit tools (e.g., ACL)
Knowledge of higher education systems, applications, and software including Banner, WorkDay, and GMS
Public accounting experience, Not-for-profit, Higher Education, and/or Healthcare industry experience