Senior Internal Auditor - Insurance

Job Description

As a member of the Internal Audit team, participate in the execution of internal audit projects which include the following responsibilities:

• Assist in audit scoping - Prepare, review and execute audit programs
• Research company and industry information
• Data analysis
• Prepare and review audit workpapers       
• Analyze issues and develop implementable corrective actions
• Discuss and obtain agreement on internal audit observations, recommendations, management responses, and target dates with audit clients
• Travel to US and Non-US business locations
• Follow up on open audit issues and evaluate progress to closure
• Work both in teams as well as individually on internal audit projects, and provide guidance to analysts and consultants who may be assigned to certain internal audits.

Role and Responsibility

As a member of the Internal Audit team, participate in the execution of SOX TOE efforts which include the following:

• Participate in SOX TOE testing which will include the execution and review of SOX test plans and workpapers;
• Review readiness of process owners for SOX testwork
• Interact with various levels of Company management, process owners, and counterparts in Finance;
• Assist in summarizing results of SOX TOE test results; Participate in meetings with management and process owners to discuss SOX TOE test results; and
• Assist in preparing meaningful and comprehensive presentations for periodic global steering committee meetings.

Internal Audit – AVP – European Bank

Senior Financial Auditors are responsible for planning, performing and reporting the results of product-line and functional audits using the Audit Department’s risk based audit approach.  Work is performed under the direction of Financial Audit Managers and can include individual or multiple auditor assignments.

Comprehensive risk assessment and engagement planning:

This entails obtaining an in-depth understanding of each business and/or function being audited; identification and assessment of risks, the manner in which such risks are controlled, and the audit approach required to ensure controls are appropriately designed and operating effectively; and, preparing documentation (formalized risk assessment, Planning Memorandum and Audit Program) that reflects the aforementioned information and assessments.

Executing audit work:

This encompasses execution of the planned approach for the audit, interacting closely with various levels of staff and management throughout the Firm.  For product-line audit, work encompasses a review of controls within the Front Office and the procedures performed by the Firm’s various Middle and Back Office departments to control and/or support the business subject to audit.  Functional audits entail separate review of a Middle or Back Office department that supports multiple businesses to gain assurance that controls that transcend such businesses operate effectively.

Developing, presenting and finalizing audit reports:

This process entails initial drafting of the report; discussion with management to ensure factual accuracy and concurrence; and, coordination with Management to obtain written responses to Audit’s recommendations.

In addition to his/her primary responsibilities, each Senior Financial Auditor is expected to assume additional responsibilities upon progression in the Department.  These responsibilities can include:

Mentoring new hires to aid in their acclimation to the Firm and the manner in which the Department operates;

Participating in the recruitment of other Senior Financial Auditors;

Supervising less experienced Auditors on multiple auditor assignments;

Performing administrative duties as it relates to key responsibilities and participating in special projects as delegated by Department Management;

Developing and maintaining relationships with Firm Staff and Management to facilitate proactive assessment of the Firm’s risk profile and career development; and,

Assessing personal development needs (e.g., training) in conjunction with Department Management.

Experience Desired CPA / MBA / CFA or pursuing are all a plus. Public accounting or Internal Audit experience.

Internal Audit Manager - P&C Insurance

Our Client has a new opportunity for an Audit Manager within its Internal Audit Division. P&C insurance experience is required. 

The position focuses on audits of the domestic general insurance companies which are primarily located in the New York offices.  This position requires approximately 20% domestic travel.  Most travel would be along the eastern seaboard.

An Audit Manager develops audit coverage for financial, operational and compliance audits of various firm entities and member companies.  In addition, the Audit Manager is responsible for continually assessing and revising the strategy and direction of the Program of Audit Coverage for designated clients.

An Audit Manager:

• Is a subject matter expert for accounting, operational, credit, risk management and /or technology/infrastructure issues related to the designated client products.
• Maintains an in-depth knowledge of developments in regulatory requirements, accounting principles and audit techniques.
• Leads the audit team in meeting target dates and deliverables while adhering to IAD’s Global Audit Methodology.
• Monitors and evaluates key business metrics to identify opportunities for improvement.
• Provides direction as to scope and execution of work plans.
• Ensures that documentation is accurate, reflective of the work performed and is supportive of conclusions drawn.
• Prepares interim and annual performance evaluations, in addition to providing on-going coaching and feedback.
• Works with the client in a consulting role to add value and resolve critical issues.
• Makes presentations in a clear and concise manner to senior audiences.
• Is accountable for the success of the team.

Applicants should have at least 7 years of relevant auditing experience.  In addition, knowledge of property and casualty insurance products is required.  An MBA, and/or a certification, such as CPA/CIA/CFSA/CISA/CFE, are a plus.

Staff Auditor - Insurance

The Staff Auditor role will focus on audits of the General Insurance business line.  Offices are primarily in the New York City area, with occasional travel to locations along the Eastern Seaboard.  Travel is expected to be 20% or less.  Staff Auditors perform planning and testing of financial, operational and compliance audits of Client entities.  

A Staff Auditor:
Demonstrates foundational knowledge of relevant industry, accounting, operational, and /or technology/infrastructure knowledge with an emphasis on understanding the relevance of SOX and AML
• Understands, identifies, and evaluates key risks and controls
• Executes audits and investigations with moderate supervision
• Documents work performed and conclusions reached in accordance with IAD’s Global Methodology
• Drafts high level findings/narratives that require minimal editing and provides a clear message and suggestion of corrective action
• Establishes effective working relationships with clients and colleagues
• Communicates effectively in writing and speaking to promote clarity and understanding
• Consistently meets deadlines
• Takes initiative and responsibility for the success of the team

The Staff Auditor reports to the Senior Auditor
Position Requirements:
• Bachelors degree preferred in a business related major.  
• 1-2 years of relevant audit experience
• Detail oriented, able to multitask, work well independently or in a team setting
• Able to negotiate and influence appropriately
• Knowledge of the General Insurance business is helpful

SOX Auditors - P&C Insurance & Reinsurance

Our Client, a large Insurance Company has two openings for SOX Auditors in its P&C Insurance & Reinsurance Division.

This position analyzes the risks and controls around key business processes and assists management in providing fundamental guidance on SOX issues to the organization. The position helps to capture and monitor SOX performance data via participation in control documentation, testing/test support, and remediation, and is devoted toward remediating and working with the more challenging business areas. Assists corporate functions and profit center locations with; process documentation, walkthroughs and controls testing for purposes of identifying potential internal control deficiencies to foster process improvement and a strong internal control environment. This position requires excellent communication and organizational skills, requires working individually and with department and/or cross-departmental teams and may involve domestic travel (up to 20%). This position directly supports the SOX Risk & Control Managers.

JOB DUTIES

    Participate in planning meetings.  Plan, execute and document testing of internal controls on routine and non-routine highly complex and judgmental areas to conclude whether key control are designed and operating effectively.

    Prepare high quality, well-organized SOX deliverables within the budgeted hours, including narratives, flowcharts, walkthroughs, testwork, exception templates and process improvement recommendations.

    Identify internal control deficiencies and coordinate with business areas to develop remediation steps and timetables.

    Set up and conduct entrance and exit meetings to discuss the extent, scope and timing of testing procedures.

    Provide SOX and client management with progress reports on a continuing basis.  Include client personnel in the exception verification process and in the formulation of control weakness solutions.

     Identify cost savings, problem prevention, or other process improvements, as applicable.

     Be proficient in Open Pages SOX software.

    Seek opportunities for process improvements productivity efficiencies based upon experiences gained in yearly testing cycles.

    Prepare, review and update detailed audit test programs for the more difficult /challenging areas, designed to achieve stated audit objectives.

  Utilized as a resource to train and council more junior auditors in the completion of test plans, interpretation and understanding of financial controls and documentation of test results.   

 OTHER  

    Maintain and increase professional competence through continued professional education and application of knowledge and techniques learned.

    Keep abreast of industry, PCAOB and SOX-related publications.  Incorporate applicable information to procedures performed.

    Perform other duties as assigned.

    Ability to perform and review audit test work.

    Demonstrated strong analytical, problem-solving and decision-making skills.

    Ability to document relevant facts to support audit testing in accordance with professional standards.

    Ability to effectively communicate and interact with personnel at all levels throughout the organization.

    Must have strong interpersonal and collaborative skills.

  EDUCATION / EXPERIENCE  

    Bachelors’ degree in Accounting, Finance, Business Administration.

    CPA, CIA or equivalent designation preferred.

    1-2+ years of related experience in public accounting or internal auditing. 

    Excellent communication, analytical and decision making skills.

    Working knowledge of GAAP financial statements and Internal Auditing Standards.

    Knowledge of the insurance and securities industries preferred.

    Proficient in use of computer software tools including Word

    General knowledge of flowcharting required.  Knowledge of Visio flowcharting preferred. 

Senior Auditor - Insurance

The Senior Auditor role will focus on audits of the General Insurance business line.  Offices are primarily in the New York City area, with occasional travel to locations along the Eastern Seaboard. Travel is expected to be 20% or less.

Senior Auditors perform planning and testing of financial, operational and compliance audits of Client entities.  A Senior Auditor:

• Demonstrates an in-depth and current knowledge of relevant industry, accounting, operational, and /or technology/infrastructure knowledge.  Also assesses the implications of pertinent regulations, such as SOX and AML
• Understands how key risks and controls impact the business from an operational, accounting and/or systems perspective
• Plans, leads, and executes audits in accordance with IAD’s Global Audit Methodology, with limited supervision
• Ensures that test work and conclusions focus on the most critical risk areas, effectively integrating business and system analysis
• Trains and supervises staff, including reviewing and critiquing completed audit work-papers
• Drafts reports and effectively edits the findings/narratives of others to ensure client understanding.  Captures the key messages in executive summaries
• Works in partnership with clients and colleagues to contribute to the Company’s success
• Provides honest and constructive feedback and coaching to others
• Is articulate and composed when delivering difficult messages to clients
• Consistently meets deadlines
• Takes initiative and responsibility for the success of the team

The Senior Auditor reports to the Audit Manager.
Position Requirements:

• Bachelor’s degree in a business related major preferred.  A Master’s degree or CPA/CIA/CFSA/CFE certification is a plus.
• At least 3 years of relevant audit experience
• Detail oriented, able to multitask, works well independently or in a team setting
• Clear and understandable verbal and written communications  
• Able to negotiate and influence appropriately
• Knowledge of the General Insurance business is required

Manager - Capital Markets Audit

The Regional Audit Manager will actively run audit engagements in investment banking products, providing guidance to other members of the audit team. 

He/She will be responsible  for managing relationships with department heads within Capital Management and Advisory and Financial Services, ensuring that Group Internal Audit (GIA) is up to date with current developments and plans and that the audit plan appropriately addresses the major risks within the area. 

This is a hands-on role, incumbent will actively lead audits across Financial Services.

• Overall operational responsibility for a regional/business segment
• Ongoing liaison with relevant Executive Team Management, at least quarterly, to maintain business/risk awareness and provide an update on audit activity
• Lead highly complex or sensitive audits
• Manage the ongoing delivery of the portfolio of audits in conjunction with the respective in charge
• Review all planning documents for upcoming audits and approve objectives
• Review and approve draft observations
• Ensure compliance with audit methodology and ensure that a risk based approach is applied for every audit via regular review
• Ensure execution of follow-ups of audit issues based on the Follow Up Database
• Maintain working relationships with the Executive Team and Senior Management of relevant Global Functions in close coordination with the Global Function Audit Director
• Participate in the Planning and Reporting meetings

Internal Audit - Media

Assist with the Company's SOX 404 Test of Operating Effectiveness (TOE) process as well as Internal Audit assignments.
Position will encompass execution of SOX TOE test plans; implementation and use of a SOX tool; coordination with business unit personnel and internal as well as external test performers; and communication with a variety of constituents.
Position will encompass development and execution of internal audit programs; utilization of automated workpapers (i.e.,TeamMate); and assisting in drafting internal audit reports as well as following up on internal audit issues.

As a member of the Internal Audit team, participate in the execution of Sarbanes-Oxley Section 404 Test of Operating Effectiveness (TOE) efforts, which include the following:

• Participate in SOX TOE testing which will include execution of SOX test plans;
• Interact with various levels of Company management, process owners, and counterparts in Finance and Internal Audit;
• Assist in summarizing results of SOX TOE test results;
• Participate in meetings with Label/Affiliate CFOs to discuss SOX TOE test results; and
• Develop an understanding of the company's SOX software tool and learn how to use it.

As a member of the Internal Audit team, participate in the execution of internal audit projects which include the following responsibilities:

• Prepare and execute audit programs;
• Assist with discussing and obtaining agreement on internal audit observations, recommendations, management responses, and target dates with audit clients;
• Travel to US and Non-US business locations;
• Follow up on open audit issues and evaluate progress to closure; and
• Work independently on internal audit projects.

Director - Capital Markets Audit

The Regional Audit Director will act as  technical expert in relation to investment banking products, providing guidance to other members of the audit team. 

He/She will be responsible  for managing relationships with department heads within Capital Management and Advisory and Financial Services, ensuring that Group Internal Audit (GIA) is up to date with current developments and plans and that the audit plan appropriately addresses the major risks within the area. 

This is a hands-on role, incumbent will actively lead audits across Financial Services.

• Overall operational responsibility for a regional/business segment
• Ongoing liaison with relevant Executive Team Management, at least quarterly, to maintain business/risk awareness and provide an update on audit activity
• Lead highly complex or sensitive audits
• Manage the ongoing delivery of the portfolio of audits in conjunction with the respective in charge
• Review all planning documents for upcoming audits and approve objectives
• Review and approve draft observations
• Ensure compliance with audit methodology and ensure that a risk based approach is applied for every audit via regular review
• Ensure execution of follow-ups of audit issues based on the Follow Up Database
• Maintain working relationships with the Executive Team and Senior Management of relevant Global Functions in close coordination with the Global Function Audit Director
• Participate in the Planning and Reporting meetings