AVP Assistant General Auditor

Federal Reserve Bank of Philadelphia•Philadelphia, PA

11d•Onsite

About The Position

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware. Reporting directly to the SVP & General Auditor, you will assist them in directing all internal audit activities for the Federal Reserve Bank of Philadelphia. The General Auditor oversees risk assessment activities, audit plan development and execution. Additionally, the General Auditor provides administrative oversight for the department. This oversight provides assurance to management and the Board of Directors that the assets and liabilities, as set forth in the Bank's balance sheet, are accurate. We align policies, procedures, systems, and processes to ensure control systems are effective for the management and mitigation of risk. Collaborate with senior level stakeholders within the Bank and throughout the System with navigating the complex, governance structure of the Federal Reserve System. Provide support to General Auditor in accomplishing goals and responsibilities as prescribed in the Federal Reserve Bank by-laws. In the absence of the General Auditor, assumes all responsibilities and authority. What You Will Do: Assist the General Auditor in planning, developing, and directing the Bank's internal audit function, its policies, and procedures. Help appraise them for adequacy and soundness to protect the Bank, its members, and employees against fraud, loss, or irregularity. Help formulate audit guidelines and policies relevant to financial and operational audits and direct their implementation within the Bank. Consult with senior management on interpretation of control requirements established by Bank, System, and external agencies. Oversee reviews of financial and operating information and the system of internal controls; participate in development of department audit schedule and coordinates with Board of Governors (BOG). Participate in the development of tactical audit activities to support Conference of General Auditors strategies as a member of the System's Audit Officers Group. Actively participate on task forces and work groups to support several System audit initiatives. Participate as a primary member or backup to the General Auditor on System work groups and committees. These groups support Philadelphia's Audit role as the System Audit Liaison for the Subcommittee on Administrative Services. The Subcommittee on Administrative Services has three committees, covering Law Enforcement, Facilities, and Records Management. Administer operational department matters such as annual budgeting, expense monitoring, quality assurance, resource planning, and department policy. Oversee the use of the audit application repository and shared server drives by all audit staff to ensure consistency and completeness of all audit records and information. Oversee internal investigations involving potential fraud, loss or irregular occurrences, including recommending investigative approach, resource requirements, and interviews with employees. Oversee talent management activities including hiring, developing, evaluating, and rewarding audit department staff. Monitor and guide the department's achievement of staff professional audit certifications. Prepare the General Auditor's reports and the Annual Report which are provided to the Audit Committee members before Committee meetings. Coordinate Audit efforts with the Bank's external auditor. Be a secretary for the Audit Committee meetings by taking the minutes and participate in discussions. Recommend modification to Audit methodology and content for consideration by the Audit Committee. Provide Audit position, opinion, and interpretation on Bank and System task forces or workgroups. Review, evaluate, and process changes to audit procedures and programs. Understand all authorities established by Bank policy and by the Bank's Delegation of Authority Schedule and acts accordingly. Understand and strengthen with staff the Bank's control environment and importance of compliance. Foster an environment in which employees are encouraged to identify and implement departmental and Bank-wide quality improvement initiatives. Fulfill job duties and responsibilities in conformance with sound safety practices. Your role includes oversight of direct and indirect reports.

Requirements

Bachelor’s degree in business administration, Accounting, Finance (or equivalent) required.
A minimum of 10 years of leadership experience in Audit or related work preferred.
Knowledge of generally accepted auditing standards.
Strong business acumen and leadership skills.
Demonstrated knowledge of financial management, accounting, and controls.
Strong people leadership skills.
Excellent interpersonal skills including written and verbal communication skills.
Simultaneously lead multiple complex projects and navigate complex governance structure with many internal and external partners.
Knowledge of auditing practices, procedures and principles, to interpret and analyze complex concepts and apply these in innovative ways.
An understanding of financial, operational, market, and credit risks.

Nice To Haves

Graduate degree preferred.
Certified Public Accountant, Certified Internal Auditor, Certified Information Systems Auditor, or an equivalent professional certification of the Institute of Internal Auditors preferred.
A skilled level of expertise is preferred in all audit competencies, particularly in the following three areas: Build Relationships - Develop effective working relationships with stakeholders (stakeholders include department and senior management, the System Audit community, the Audit Committee, and external parties). Critical Thinking and Judgment - Applies critical thinking, sound logic and rationale in decision-making and problem solving; consider multiple aspects in assigning significance and priority. Governance, Risk, and Control - Understand and assess business risk and controls within the governance structure of the Federal Reserve System; provide assurance that the control environment keeps pace with evolving business.

Responsibilities

Assist the General Auditor in planning, developing, and directing the Bank's internal audit function, its policies, and procedures.
Help appraise them for adequacy and soundness to protect the Bank, its members, and employees against fraud, loss, or irregularity.
Help formulate audit guidelines and policies relevant to financial and operational audits and direct their implementation within the Bank.
Consult with senior management on interpretation of control requirements established by Bank, System, and external agencies.
Oversee reviews of financial and operating information and the system of internal controls; participate in development of department audit schedule and coordinates with Board of Governors (BOG).
Participate in the development of tactical audit activities to support Conference of General Auditors strategies as a member of the System's Audit Officers Group.
Actively participate on task forces and work groups to support several System audit initiatives.
Participate as a primary member or backup to the General Auditor on System work groups and committees.
Administer operational department matters such as annual budgeting, expense monitoring, quality assurance, resource planning, and department policy.
Oversee the use of the audit application repository and shared server drives by all audit staff to ensure consistency and completeness of all audit records and information.
Oversee internal investigations involving potential fraud, loss or irregular occurrences, including recommending investigative approach, resource requirements, and interviews with employees.
Oversee talent management activities including hiring, developing, evaluating, and rewarding audit department staff.
Monitor and guide the department's achievement of staff professional audit certifications.
Prepare the General Auditor's reports and the Annual Report which are provided to the Audit Committee members before Committee meetings.
Coordinate Audit efforts with the Bank's external auditor.
Be a secretary for the Audit Committee meetings by taking the minutes and participate in discussions.
Recommend modification to Audit methodology and content for consideration by the Audit Committee.
Provide Audit position, opinion, and interpretation on Bank and System task forces or workgroups.
Review, evaluate, and process changes to audit procedures and programs.
Understand all authorities established by Bank policy and by the Bank's Delegation of Authority Schedule and acts accordingly.
Understand and strengthen with staff the Bank's control environment and importance of compliance.
Foster an environment in which employees are encouraged to identify and implement departmental and Bank-wide quality improvement initiatives.
Fulfill job duties and responsibilities in conformance with sound safety practices.

Benefits

Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
401k/Thrift Plan with generous employer match
Employer-funded Pension Plan
Paid Vacation/Sick Time & Holidays
Monthly $200 Commuter Allowance
Flexible Spending Accounts and Healthcare Spending Accounts
Flexible Work Schedule available in most departments
Life Insurance and Long Term Disability Insurance
Tuition Reimbursement (undergraduate and graduate)
Parental Leave
Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
Onsite Cafeteria & Coffee Shop
Additional Convenience Benefits, Discounts and More…