Internal Auditor

FARMER MAC•Washington, DC

5d•$92,000 - $125,000•Hybrid

About The Position

Farmer Mac has an opportunity in the Internal Audit team that can be filled by a junior Internal Auditor or more experienced Internal. The Internal Auditor, under the direction/supervision of the audit director, audit manager, and/or audit senior, is responsible for supporting the execution of risk-based internal audits and Sarbanes-Oxley (SOX) testing to evaluate the adequacy and effectiveness of internal controls, effectiveness of risk management and governance processes, compliance with applicable laws and regulations, and efficiency and effectiveness of operations. This role performs, with direct supervision, audit planning, fieldwork, and reporting, executes control testing and documents results, and identifies potential control gaps, and provides practical, value-added recommendations to improve operations. The Internal Auditor operates with direction and support from the audit project supervisor (i.e., audit manager/audit director) and/or audit senior to perform internal control testing and documentation of testing results. For more experienced Internal Auditors, they additionally perform some tasks autonomously based on skill level, demonstrate maturing analytical and written/verbal communication skills, and may lead certain key activities on assigned audit areas (e.g., walkthrough discussions).

Requirements

Bachelor’s degree in Accounting, Finance, Business Administration, Information Systems, or related field.
One to two (1-2) years of experience in internal audit, external audit, risk management, compliance, and/or accounting.
Basic knowledge of Sarbanes-Oxley, COSO, and risk assessment practices in the performance of job responsibilities.
Basic knowledge of the Global Internal Audit Standards and demonstrate appropriate use and interpretation in the course of their work.
Ability to work well in a team-oriented environment as well as individually on multiple projects while meeting project budgets and timelines.
Ability to work creatively and analytically in a problem-solving environment.
Strong analytical and critical thinking skills.
Strong verbal and written communication skills
Bachelor’s degree in accounting, finance, business administration, or related field.
Three to five (3-5) years of experience in internal audit, external audit, risk management, compliance, and/or accounting.
Basic knowledge of the Global Internal Audit Standards and demonstrate appropriate use and interpretation in the course of their work.
Understanding and application of accounting principles, Sarbanes-Oxley Act requirements, COSO, and risk assessment practices in the performance of job responsibilities.
Ability to work well in a team-oriented environment as well as individually on multiple projects while meeting established project timelines.
Ability to work creatively and analytically in a problem-solving environment.
Strong analytical and critical thinking skills.
Ability to distinguish systemic control issues from isolated exceptions and appropriately assess risk impact.
Must have strong verbal and written communication skills with the ability to communicate and negotiate effectively with all levels of management.

Nice To Haves

Experience in the following is a plus: financial services and/or agriculture industry, information technology general computing control fundamentals, Optro/AuditBoard audit software, data analysis and data visualization software and tools (e.g., MS Excel, SAS, R, Python, Alteryx, MS Power BI, Tableau).
Interest in pursuing or candidate for CPA/CIA/CISA designation.
CPA\CIA\CISA designation is preferred, supported by a minimum of two years of audit experience in internal audit, public accounting, or a related field (e.g., risk and compliance); alternatively, candidates may qualify with more than three years of relevant audit experience.
Experience in the financial services industry is preferred but not required.
Working knowledge of AuditBoard audit software is a plus.
Experience with data analysis software is a plus.

Responsibilities

Demonstrate a basic understanding of the company’s operational processes and supporting technology in the performance of risk-based audits of business operations, IT, and corporate governance processes.
Participate in audit walkthrough discussions to facilitate evaluation of operations, processes, and key risks and controls. Document results of walkthroughs with accuracy and completeness.
Execute audit test steps in a timely manner to include identifying needed documentation from business owners and requesting such information including following-up on outstanding items, performing detailed testing of key controls in accordance with agreed upon testing approach and sampling methodology.
Document audit testing performed to support results and conclusions, while ensuring compliance with established audit workpaper standards and internal procedures.
Assist in identifying control gaps and opportunities for improvement based on audit testing performed.
Prepare the agenda for entrance and exit conferences as well as discussion items for key audit meetings including audit status reports.
For assigned, previously identified audit findings, engage with management to determine remediations status. Obtain audit evidence and perform testing procedures to validate remediation of findings, ensuring management corrective actions have been fully implemented on a timely basis.
Obtain required control evidence and perform SOX control testing for assigned key controls following prescribed methodology and sample sizes. Document testing and results consistent with required SOX workpaper standards to facilitate external auditor reliance, where applicable.
Apply lessons learned from prior audits and identify opportunities to improve audit processes and documentation.
Remain current and compliant with Farmer Mac policies and procedures inclusive of Internal Audit policies and procedures, which are based on the Global IIA Standards.
Assist in building and developing Internal Audit’s brand within the company through meaningful relationship building.
Assist in coordinating audit activities with management, co-source providers, and external auditors.
Participate and in some cases lead audit walkthrough discussions to facilitate evaluation of operations, processes, and key risks and controls. Document results of walkthroughs with a high degree of accuracy and completeness.
Assist in the planning of assigned audits to include developing the audit scope, objectives, and test plans.
Assist in communicating audit findings, supported by testing results and working collaboratively with management to develop effective and cost-efficient recommendations.
Assist in developing the discussion draft of the audit report, including draft audit findings.