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Internal Auditor (In-Training Option)

Company: State of Washington
Location: Olympia
Posted on: June 9, 2021

Job Description:

This recruitment will remain open until filled. The initial screening will begin June 9, 2021. The WSIB may make a hiring decision at any time. It is in the candidate's best interest to apply early.

The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $171.5 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 14,000 holdings across 87 countries on 6 continents and in 45 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk.

 

The WSIB manages investments for 17 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters, and judges. We also manage investments for several other important public funds that benefit Washington's industrial insurance program, colleges and universities, and developmental disability programs. The WSIB's excellent investment performance dramatically contributes to the state's bottom line by earning the lion's share of money needed to cover state pension benefits.

To learn more about the WSIB, please visit our website at sib.wa.gov and follow us on LinkedIn.

ABOUT THE POSITION: 

This position is anticipated to perform work remotely during the COVID-19 pandemic, although incumbent should be available for onsite work upon a phased reopening of the office. 

 

To broaden the candidate pool, the WSIB will consider candidates that qualify at the Financial Examiner (FE) 3 or 4 levels. The position is classified as a FE4; however, the WSIB may elect to fill this position as an in-training appointment, and upon successful completion of an in-training plan the incumbent would advance to the FE4 level. Experience is the only difference between qualifications for both levels, and will be evaluated by the hiring manager.

Salary:      FE3: $70,956 - $95,484 Annually, DOQ (Range 66)

                 FE4: $78,408 - $105,384 Annually, DOQ (Range 70)

The WSIB has an exciting and challenging opportunity for a professional Internal Auditor to support the WSIB's mission to invest with integrity, prudence, and skill for the exclusive benefit of fund participants and beneficiaries.  

 

Reporting to the Audit Director, this position independently assesses the WSIB's practices and controls in relationship to policies, procedures, regulations, laws, and adopted standards. The WSIB's Internal Audit Unit provides assurance and consulting services designed to add value and improve WSIB operations, while supporting the critical success factors of the Board, including operational excellence and impeccable integrity.

PRINCIPAL RESPONSIBILITIES:

Independently conducts comprehensive internal audits (accountability, financial, and compliance), analysis, and assignments with limited direction, utilizing expert knowledge of internal audit practices and procedures.

 

Plans and conducts complex audits to examine current practices of WSIB work units against adopted standards, applicable laws, rules, policies, and best practices. Develops efficient and effective engagement procedures; devises methods and procedures consistent with internal audit standards and acceptable practices (e.g. selection methods, testing, validation, etc.). Documents work performed in accordance with internal audit and unit standards.

 

Works with agency staff to understand programs and operations. Analyzes and evaluates complex and technical financial data, information systems, and legal compliance matters. 

 

Consults with management to discuss deficiencies and corrective action. Prepares recommendations designed to mitigate risks, strengthen controls, ensure compliance with applicable laws and regulations, and improve accountability over public assets.

Performs analysis of internal control and governance structures of various financial service providers and investment managers by reviewing operations, conducting on-site visits, and assessing compliance with contractual requirements and/or industry standards.

 

Prepares formal audit reports and presentations with results of audit engagements. Presents audit results to management and to the WSIB's Audit Committee in open public meetings.

 

Assists the Audit Director in the development of the annual internal audit plan.

Participates as a liaison for external audit services, as assigned. 

QUALIFICATIONS:

To qualify at the Financial Examiner 4 level:

  • Bachelor's degree in accounting, business administration, finance, or related field which includes 12 semester or 20 quarter hours of accounting, finance, or economics.
  • 5 years of professional level auditing or accounting experience. Minimum of 3 years' experience performing financial, accountability, and/or compliance audits.  

To qualify at the Financial Examiner 3 level: 

Note: After successful completion of a 12 month in-training period as a FE3, the incumbent will advance to a FE4.

  • Bachelor's degree in accounting, business administration, finance, or related field which includes 12 semester or 20 quarter hours of accounting, finance, or economics.
  • 3 years of professional level auditing or accounting experience. One to two years' experience performing financial, accountability, and/or compliance audits.  

Both levels:

  • Knowledge of internal auditing standards, practices, and procedures.
  • Strong communication, writing, analytical, and research skills.
  • Experience auditing a large pension fund, investment manager, or financial institution.
  • Professional certification such as a Certified Internal Auditor, Certified Public Accountant, or Certified Financial Examiner. 

If your experience looks a little different from what we've identified and you think you can be successful, please address this in your cover letter. 

COMPETENCIES:

Accountability - Accept personal responsibility for the quality and timeliness of work. Can be relied upon to achieve excellent results with little need for oversight.

 

Analysis - Use data and information in a clear and rational thought process to assess and understand issues, evaluate options, form accurate conclusions, and make decisions.

 

Influencing for Voluntary Compliance - Effectively persuade others to voluntarily accept recommendations or advice for the purpose of bringing them into compliance with regulations or policy.

 

Integrity - Is honest and ethical.

 

Research - Effectively identify, collect, organize, and document data and information in ways that make the information most useful for subsequent assessment, analysis, and investigation.

 

Tact and Diplomacy - Respond to difficult, stressful, or a sensitive interpersonal situation in ways that reduce or minimize potential conflict and maintain good working relationships among internal and external individuals.

Workload Management - Effectively organize multiple assignments of a complex nature or involving competing priorities, to produce work products that are accurate, thorough, and on time.

In addition to a complete profile, please include: 

  • A cover letter specifying why this position is of interest to you and how you meet the qualifications listed above. This letter should be no more than two pages.
  • A current chronological resume.
  • A list of at least three professional references under the profile section. References will not be contacted without the written consent of the applicant, but must be submitted at the time of application. 

The initial screening will be based on the content and completeness of your application and the materials submitted. All information may be verified and documentation may be required.  

 

Interviews will be performed remotely via telephone and/or videoconference. 

BACKGROUND CHECK:

Prior to a new hire, a background check including criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant's suitability and competence to perform in the position.

At the WSIB...

You'll experience true work-life balance and talented, passionate co-workers focused on maximizing the investment returns for the exclusive benefit of the beneficiaries. The WSIB is a respected institutional investor and thought leader in its industry and we value diverse perspectives and life experiences.

 

The WSIB is an equal opportunity employer. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, veterans, military spouses or people with military status, and people of all sexual orientations and gender identities are encouraged to apply. Persons needing this announcement in an alternative format or assistance in the application process please contact Human Resources at hr@sib.wa.gov. 

Keywords: State of Washington, Olympia , Internal Auditor (In-Training Option), Other , Olympia, Washington

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