Conduct internal audit activities within the organization, including providing independent, objective assurance and consulting activity designed to add value and improve the organization’s operations. Internal audit is intended to assist the organization in accomplishing its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Internal audit is accountable for developing and implementing a risk-based internal audit plan, assisting management in complying with applicable internal control policies and regulations, and working with management to bring cost effective and efficient leading practices. Internal audit has the authority to perform internal audit and consultative services, have access to necessary data when requested, obtain assistance of Authority personnel as needed. Activities may include audits of financial, operational, compliance/regulatory, or strategic business functions and related risks and controls. May also include execution of special investigations/audits involving cases of fraud, waste, and abuse and/or ethical/regulatory complaints. Operate as ambassador and champion of the Internal Audit vision and strategy by demonstrating support and actively communicating with the team and the business.
Participate in high quality, professional day-to-day execution of internal audit engagements and projects.
Assist in evaluating key risks and internal controls, develop and/or review audit programs/risk & control matrices (including adapting an audit program to suit the client’s specific environment, and/or assisting with designing controls evaluation and testing work plans), benchmark financial and operational processes and controls, and identify opportunities for efficiencies/performance improvement based on leading practice.
Participate in annual risk assessment activities, as appropriate.
Attend audit entrance and exit conferences and participate as appropriate for work assigned.
Assist in performing testing procedures including, but not limited to, detailed tests of controls including sampling/confidence levels, analytical procedures, Computer Assisted Auditing Techniques (CAATs), and other audit procedures to address risks identified and to test internal controls.
Assist in creating high quality deliverables using appropriate business and technical language, document audit work performed and results by preparing work papers and sections of the audit report. Identify / document audit issues clearly articulating issue/root cause, risk/exposure, and recommendations for improvement.
Assist in documenting processes and sub-processes in the form of walkthroughs (in a format that allows them to be re-performed), narratives, and flow charts for audit areas in scope.
Interact effectively with clients to help validate the information/communication flow from the client to the audit team is efficient and effective; collaborate directly with clients and identify client concerns through building solid relationships; and work with client in an organized and knowledgeable manner/actively participate in client discussions and meetings.
Organize and maintain client documentation in a manner consistent with safekeeping practices.
Use available technical resources and tools to research and expand one’s sphere of knowledge to enhance audit value; remain up-to-date on industry trends and NYPA-related strategic intent while sharing the knowledge amongst the team where applicable.
Knowledge, Skills and Abilities
The level of job complexity is beginning.
Demonstrated integrity, values, principles and work ethic.
Demonstrate flexibility in prioritizing and completing. tasks; communicate potential conflicts to managers and teams.
Progressive working knowledge of relevant auditing concepts and techniques and thoroughly familiar with COSO, GAAP, GAGAS, FERC, FASB and IIA standards.
Familiar with typical Internal Audit functions and operations.
Basic understanding of electric utility industry functions preferred.
Ability to identify and articulate key risks and controls in a process and sub process and to devise and execute audit steps for a variety of audits.
Good ability in recognizing audit issues and developing realistic and practical recommendations.
Good oral and written communication skills.
Ability to prioritize work and multi-task including ability to plan, manage time budget and execute segments of audits.
Exhibits a professional attitude and work ethic and has ability to interface effectively with peers and clients.
Basic understanding of IT general controls.
Understanding of sampling strategies and confidence levels and use of data analytics.
Skills in execution of project management techniques and engagement closure.
High standard of ethics and professionalism.
Demonstrated negotiation skills.
Strong interpersonal, written, and verbal communication skills.
Working knowledge and experience with auditing tools such Microsoft Access, Word, Excel, PowerPoint, and Visio.
Education, Experience and Certifications
Bachelor degree in Accounting, Finance or equivalent discipline.
One year of current and/or recent audit experience in public accounting, preferably from a Big 4 organization or major corporation or 3 years’ experience auditing in an audit firm and/or organization / company.
Approximately 20% – 25% travel primarily within New York State.