Utah Retirement Systems

Internal Auditor I, II or III

Location UT-Salt Lake City
Posted Date 5 days ago(2/3/2023 1:43 PM)
Job ID
2023-3130

About The Company

Utah Retirement Systems (URS) provides benefits for state and other Utah public employees.  It has two divisions.  The Retirement Office administers pension and retirement savings plans.  PEHP specializes in medical, dental, life, and other benefits.

Job Description

Internal Auditor I

FLSA: Exempt

Wage Rage: $58,299/yr. - $74,321/yr.

POSITION SUMMARY

Provides independent, objective assurance, and consulting services designed to add value and improve the operations of URS and PEHP. Helps URS and PEHP accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Completes new limited scope audits with minimal guidance. Independently completes basic full scope audits.

 

ESSENTIAL JOB FUNCTIONS AND DUTIES

  1. Reports to and advises the Internal Audit Manager regarding accounting, operational, and management controls.
  2. Monitors control systems for adequacy and efficiency. Recommends, initiates, and implements corrective measures.
  3. Assists the Internal Audit Director in long range planning and establishing audit priorities.
  4. Independently performs comprehensive audits covering financial, operational, and regulatory areas to assure the safeguarding of assets, proper authorization, and recording of transactions.
  5. Performs field audits of external advisors and participating units as requested by management or the Audit Committee.
  6. Communicates verbally and in writing the audit results to the auditee, Internal Audit Manager, and upper management.
  7. Performs on-site visits of properties in the Utah Retirement Systems real estate portfolio, which includes examining and evaluating internal controls, contracts, financial statements, leases, expenses, and other complex transactions to determine appropriateness.
  8. Examines, evaluates, and verifies compliance in Office records and operating procedures.
  9. Verifies compliance with established plans, policies, procedures, and control systems. Assures compliance to regulatory and statutory conditions.
  10. Identifies indicators of fraud.
  11. Monitors adherence to Generally Accepted Accounting Principles (GAAP) and related technical pronouncements.
  12. Completes and delivers work papers and audit reports for review.
  13. Understands and performs basic computer assisted audit techniques.
  14. Interfaces with department heads to resolve audit issues and implement audit recommendations.
  15. Prepares or updates technical flow charts showing significant transaction cycles. Prepares control evaluation worksheets involving analysis of flow charts and identification of manual and Electronic Data Processing (EDP) control strengths and weaknesses.
  16. Conducts statistical and analytical review of financial and operating data.
  17. Develops audit plans and defines the audit objective.
  18. Writes audit programs and develops unique procedures which will meet audit objectives.
  19. Maintains working papers showing scope, procedures performed, findings, conclusions, recommendations, continuity, and frequency of audit work. Prepares working papers that are properly cross-referenced, logically organized, and support audit findings and recommendations.
  20. Assists the Internal Audit Director in preparing for independent quality review.
  21. Examines and evaluates participating unit payroll and contribution records and their operating procedures pertaining to retirement, withholding, disbursing of funds, and reporting.
  22. Conducts external audits of investment advisors and participating units.
  23. Follows The Institute of Internal Auditors Code of Ethics.
  24. Conducts audits in accordance with the International Professional Practices Framework published by The Institute of Internal Auditors.
  25. Receives 120 hours every 3 years (approx. 40 hours annually) of Continuing Professional Education (CPE) as required in the department.
  26. Maintains strict confidentiality.
  27. Performs other related duties as required.

 

Internal Auditor II

FLSA: Exempt

Wage Rage: $64,420/yr. - $82,124/yr.

 

Summary

Provides independent, objective assurance, and consulting services designed to add value and improve the operations of URS and PEHP. Helps URS and PEHP accomplish its objectives by bringing a systematic, disciplined approach to evaluate, and improve the effectiveness of risk management, control, and governance processes. Independently completes all audits, including investment and IT audits, with minimal guidance.

 

ESSENTIAL JOB FUNCTIONS AND DUTIES

  1. Reports to and advises the Internal Audit Director regarding accounting, operational, and management controls.
  2. Monitors control systems for adequacy and efficiency., Recommends, initiates, and implements corrective measures.
  3. Assists the Internal Audit Director in long range planning and establishing audit priorities.
  4. Assists in preparing for Audit/Risk/Insurance Committee meetings.
  5. Independently performs comprehensive audits covering financial, operational, and regulatory areas to assure the safeguarding of assets, proper authorization, and recording of transactions.
  6. Performs initial project risk assessments.
  7. Performs field audits of external advisors and participating units as requested by management or the Audit Committee.
  8. Communicates verbally and in writing the audit results to the auditee, Internal Audit Director, and upper management.
  9. Performs on-site visits of properties in the Utah Retirement Systems real estate portfolio which includes examining and evaluating internal controls, contracts, financial statements, leases, expenses, and other complex transactions to determine appropriateness.
  10. Independently examines, evaluates, and verifies compliance in Office records and operating procedures.
  11. Verifies compliance with established plans, policies, procedures, and control systems. Assures compliance to regulatory and statutory conditions.
  12. Understands implications of basic IT considerations.
  13. Identifies indicators of fraud.
  14. Monitors adherence to Generally Accepted Accounting Principles (GAAP) and related technical pronouncements.
  15. Completes and delivers work papers and audit reports for review.
  16. Understands and performs intermediate computer assisted audit techniques.
  17. Interfaces with department heads to resolve audit issues and implement audit recommendations.
  18. Independently prepares or updates technical flow charts showing significant transaction cycles. Prepares control evaluation worksheets involving analysis of flow charts, and identification of manual and Electronic Data Processing (EDP) control strengths and weaknesses.
  19. Conducts statistical and analytical review of financial and operating data.
  20. Develops audit plans and defines the audit objective.
  21. Writes audit programs and develops unique audit procedures which will meet audit objectives.
  22. Maintains working papers showing scope, procedures performed, findings, conclusions, recommendations, continuity, and frequency of audit work. Prepares working papers that are properly cross-referenced, logically organized, and support audit findings and recommendations. Reviews and prepares comments on work papers as necessary.
  23. Reviews work papers of the Audit Director and other internal auditors.
  24. Assists the Internal Audit Director in preparing for independent quality review.
  25. Conducts limited consulting engagements.
  26. Examines and evaluates participating unit payroll and contribution records and their operating procedures pertaining to retirement, withholding, disbursing of funds, and reporting.
  27. Conducts external audits of investment advisors and participating units.
  28. Follows The Institute of Internal Auditors Code of Ethics.
  29. Conducts audits in accordance with the International Professional Practices Framework published by The Institute of Internal Auditors.
  30. Receives 120 hours every 3 years (approx. 40 hours annually) of Continuing Professional Education (CPE) as required in the department.
  31. Mentors others by sharing information, providing guidance, motivating, and role modeling. Supports and encourages others to improve their skills and knowledge.
  32. Maintains strict confidentiality.
  33. Performs other related duties as required.

 

Internal Auditor III

FLSA: Exempt

Wage Rage: $71,191/yr. - $90,764/yr.

 

POSITION SUMMARY

Provides independent, objective assurance, and consulting services designed to add value and improve the operations of URS and PEHP. Helps URS and PEHP accomplish its objectives by bringing a systematic, disciplined approach to evaluate, and improve the effectiveness of risk management, control, and governance processes. Independently completes all audits, including investment and IT audits, with minimal guidance.

 

ESSENTIAL JOB FUNCTIONS AND DUTIES

  1. Reports to and advises the Internal Audit Director regarding accounting, operational, and management controls.
  2. Monitors control systems for adequacy and efficiency. Recommends, initiates, and implements corrective measures as needed
  3. Provides relevant input to assist the Internal Audit Director in long range planning and establishing audit priorities.
  4. Assists in preparing for Audit/Risk/Insurance Committee meetings.
  5. Assists the Internal Audit Director in supervising the audit work of others.
  6. Works as a lead auditor on audits.
  7. Independently performs comprehensive audits covering financial, operational, and regulatory areas to assure the safeguarding of assets, proper authorization, and recording of transactions.
  8. Performs project risk assessments.
  9. Performs field audits of external advisors and participating units as requested by management or the Audit Committee.
  10. Communicates verbally and in writing the audit results to the auditee, Internal Audit Director, upper management, outside public agencies, and other external parties.
  11. Audits complex and critical areas of the Retirement Office and PEHP, including investments. This may include derivatives, alternative investments securities lending, tactical asset allocations, IT processes, application controls, claims processing, and reinsurance.
  12. Performs on-site visits of properties in the Utah Retirement Systems real estate portfolio, which includes examining and evaluating internal controls, contracts, financial statements, leases, expenses, and other complex transactions to determine appropriateness.
  13. Independently examines, evaluates, and verifies compliance in Office records and operating procedures.
  14. Verifies compliance with established plans, policies, procedures, and control systems, assures compliance to regulatory and statutory conditions.
  15. Understands implications of IT applications.
  16. Identifies indicators of fraud.
  17. Monitors adherence to Generally Accepted Accounting Principles (GAAP) and related technical pronouncements.
  18. Completes and delivers work papers and audit reports for review.
  19. Understands and performs advanced computer assisted audit techniques.
  20. Interfaces with department heads to resolve audit issues and implement audit recommendations.
  21. Independently prepares or updates technical flow charts showing significant transaction cycles. Prepares control evaluation worksheets involving analysis of flow charts, and identification of manual and Electronic Data Processing (EDP) control strengths and weaknesses.
  22. Conducts statistical and analytical review of financial and operating data.
  23. Develops audit plans including defining the audit objective.
  24. Writes audit programs and develops unique audit procedures which will meet audit objectives.
  25. Maintains working papers showing scope, procedures performed, findings, conclusions, recommendations, continuity, and frequency of audit work. Prepares working papers that are properly cross-referenced, logically organized, and support audit findings and recommendations. Reviews and prepares comments on work papers as necessary.
  26. Reviews work papers of the Audit Director and other internal auditors.
  27. Assists the Internal Audit Director in preparing for the annual quality assurance and improvement program activities and the independent quality review.
  28. Independently conducts consulting engagements.
  29. Examines and evaluates participating unit payroll and contribution records and their operating procedures pertaining to retirement, withholding, disbursing of funds, and reporting.
  30. Conducts external audits of investment advisors and participating units.
  31. Follows The Institute of Internal Auditors Code of Ethics.
  32. Receives 120 hours every 3 years (approx. 40 hours annually) of Continuing Professional Education (CPE) as required in the department.
  33. Mentors others by sharing information, providing guidance, motivating, and role modeling. Supports and encourages others to improve their skills and knowledge.
  34. Maintains strict confidentiality.
  35. Performs other related duties as required.

Required Experience

Internal Auditor I

 

Education and Experience

Bachelor’s degree in accounting, business, or related field, or an equivalent combination of education and experience performing comprehensive audits covering financial, operational, and regulatory areas.

 

Specific experience in IT, financial, and operational auditing preferred.

 

Knowledge, Skills, and Abilities

This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:

 

Required technical skills include the working knowledge and ability of:

  • Basic computer assisted auditing techniques, computer operations, and technical software applications.
  • Analytical and critical thinking.
  • Technical, financial, and program auditing methods, processes and procedures.
  • Risk analysis techniques.
  • Flow charting processes to identify and evaluate internal controls.
  • Analyzing a variety of control system issues and develop recommendations.

 

Required mathematical skills include working knowledge of:

  • Sampling theory.
  • Mathematical concepts such as probability and statistical inference.
  • Concepts of basic algebra.
  • Generally accepted accounting principles established by Financial Accounting Standards Board (FASB) and Government Accounting Standards Board (GASB).
  • Budgeting processes.

 

Must possess excellent communication skills:

  • Draft technical reports and documents.
  • Negotiation techniques.
  • Communicate effectively verbally and in writing.
  • Establish and maintain effective working relationships with professionals, executives (public and private), department heads, coworkers, and the public.

 

Must have the ability to:

  • Follow written and verbal instructions.
  • Prioritize work.
  • Perform within deadlines.
  • Work well in a team environment as well as independently.
  • Multi-task by handling a variety of duties in a timely and efficient manner.
  • Follow through with assignments.
  • Deal effectively with stress caused by workload and time deadlines.

The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.

 

Work Environment

Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities which do not generally involve muscular strain, but do require activities related to walking, standing, stooping, sitting, reaching, talking, hearing and seeing. Common eye, hand, finger dexterity required to perform essential functions.

 

Position requires occasional travel for office business. Individual must be physically capable of safely operating a vehicle, possess a valid driver’s license and have an acceptable driving record based upon data provided by a current Department of Motor Vehicle Record (MVR).

 

As a requirement of this position, the employee will submit to the URS Investment Compliance Officer a record of trade confirmations or monthly transaction summaries, as they become available, of all security transactions (excluding mutual funds), in any account under the employee’s control and direction, or under the control and direction of the employee’s spouse.

 

Internal Auditor II

Education and Experience

Bachelor’s degree in accounting, business, or related field; AND three (3) years of responsible experience performing comprehensive audits covering financial, operational, and regulatory areas; OR an equivalent combination of education and experience.

 

Specific experience in IT, financial, and operational auditing preferred.

 

Certification as a Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Certified Government Auditing Professional (CGAP), Certified Risk Management Assurance (CRMA), and/or Certified Fraud Examiner (CFE) is preferred.

 

Knowledge, Skills, and Abilities

This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:

 

Required technical skills include the working knowledge and ability of:

  • Intermediate computer assisted auditing techniques, computer operations, and technical software applications.
  • Analytical and critical thinking.
  • Data mining analytics.
  • Risk analysis techniques.
  • Corporate governance.
  • Technical, financial, and program auditing methods, processes and procedures.
  • Flow charting processes to identify and evaluate internal controls.
  • Analyzing a variety of control system issues and problems and develop recommendations.

 

Required mathematical skills include working knowledge of:

  • Sampling theory.
  • Mathematical concepts such as probability and statistical inference.
  • Concepts of basic algebra.
  • Apply concepts of fractions, percentages, ratios, and proportions to practical situations.
  • Generally accepted accounting principles established by Financial Accounting Standards Board (FASB) and Government Accounting Standards Board (GASB).
  • Budgeting processes.
  • Statistical analysis and procedures.
  • Ability to apply mathematical operations to such tasks as frequency distribution, determination of test reliability and validity, analysis variance, correlations techniques, sampling theory, and factor analysis.
  • Extrapolating results of a sampling plan and exceptions to an entire population.
  • Investment theory and actuary activities with URS and PEHP.

 

Must possess excellent communication skills:

  • Draft audit reports explaining procedures performed, related recommendations, and work papers showing test performed.
  • Read, analyze, and interpret general business periodicals, professional journals, technical procedures or regulations, common technical financial reports, and legal documents such as Title 49, leasing documents, and management agreements.
  • Ability to write reports, business correspondence, and procedure manuals.
  • Present information and respond to questions from groups of managers, members, and general public.
  • Negotiation techniques.
  • Communicate effectively verbally and in writing.
  • Establish and maintain effective working relationships with professionals, executives (public and private), department heads, co-workers, and the public.

 

Must have the ability to:

  • Follow written and verbal instructions.
  • Prioritize work.
  • Perform within deadlines.
  • Work well in a team environment as well as independently.
  • Multi-task by handling a variety of duties in a timely and efficient manner.
  • Follow through with assignments.
  • Deal effectively with stress caused by workload and time deadlines.

 

The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.

 

Work Environment

Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities which do not generally involve muscular strain, but do require activities related to walking, standing, stooping, sitting, reaching, talking, hearing, and seeing. Common eye, hand, finger dexterity required to perform essential functions.

 

Position requires occasional travel for office business.  Individual must be physically capable of safely operating a vehicle, possess a valid driver’s license and have an acceptable driving record based upon data provided by a current Department of Motor Vehicle Record (MVR).

 

As a requirement of this position, the employee will submit to the URS Investment Compliance Officer a record of trade confirmations or monthly transaction summaries, as they become available, of all security transactions (excluding mutual funds), in any account under the employee’s control and direction, or under the control and direction of the employee’s spouse.

 

Internal Auditor III

Education and Experience

Bachelor’s degree in accounting, business, or related field; AND four (4) years of responsible experience performing comprehensive audits covering financial, operational, and regulatory areas; OR an equivalent combination of education and experience.

 

Master’s degree is preferred.

 

Specific experience in IT, financial, and operational auditing preferred.

 

Certification as a Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Certified Government Auditing Professional (CGAP), Certified Risk Management Assurance (CRMA), and /or Certified Fraud Examiner (CFE) is preferred.

 

Knowledge, Skills, and Abilities

This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:

 

Required technical skills include the working knowledge and ability of:

  • Advanced computer assisted auditing techniques, computer operations, and technical software applications.
  • Analytical and critical thinking.
  • Data mining analytics.
  • Risk analysis techniques.
  • Corporate governance.
  • Conducting audits in accordance with the International Professional Practices Framework published by The Institute of Internal Auditors.
  • Technical, financial, and program auditing methods processes and procedures.
  • Flow charting processes to identify and evaluate internal controls.
  • Analyzing a variety of control system issues and problems and develop recommendations.

 

Required mathematical skills include working knowledge of:

  • Sampling theory.
  • Mathematical concepts such as probability and statistical inference.
  • Concepts of basic algebra.
  • Apply concepts of fractions, percentages, ratios, and proportions to practical situations.
  • Generally accepted accounting principles established by Financial Accounting Standards Board (FASB) and Government Accounting Standards Board (GASB).
  • Budgeting processes.
  • Statistical analysis and procedures.
  • Application of mathematical operations, performing such tasks as frequency distribution, determination of test reliability and validity, analysis variance, correlations techniques, sampling theory, and factor analysis.
  • Extrapolating results of a sampling plan and exceptions to an entire population.
  • Investment theory and actuary activities with URS and PEHP.

 

Must possess excellent communication skills:

  • Draft audit reports explaining procedures performed, related recommendations, and work papers showing test performed.
  • Read, analyze, and interpret general business periodicals, professional journals, technical procedures or regulations, common technical financial reports, and legal documents such as Title 49, leasing documents, and management agreements.
  • Ability to write reports, business correspondence, and procedure manuals.
  • Present information and respond to questions from groups of managers, members, and general public.
  • Negotiation techniques.
  • Communicate effectively verbally and in writing.
  • Establish and maintain effective working relationships with professionals, executives (public and private), department heads, co-workers, and the public.

 

Must have the ability to:

  • Follow written and verbal instructions.
  • Prioritize work.
  • Perform within deadlines.
  • Work well in a team environment as well as independently.
  • Multi-task by handling a variety of duties in a timely and efficient manner.
  • Follow through with assignments.
  • Deal effectively with stress caused by workload and time deadlines.

 

The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.

 

Work Environment

Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities which do not generally involve muscular strain, but do require activities related to walking, standing, stooping, sitting, reaching, talking, hearing and seeing. Common eye, hand, finger dexterity required to perform essential functions. 

 

Position requires occasional travel for office business.  Individual must be physically capable of safely operating a vehicle, possess a valid driver’s license and have an acceptable driving record based upon data provided by a current Department of Motor Vehicle Record (MVR).

 

As a requirement of this position, the employee will submit to the URS Investment Compliance Officer a record of trade confirmations or monthly transaction summaries, as they become available, of all security transactions (excluding mutual funds), in any account under the employee’s control and direction, or under the control and direction of the employee’s spouse.

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