Utah Retirement Systems provides benefits for state and other Utah Public employees through the work of two divisions. The Retirement Office administers pension and retirement benefits. PEHP Health & Benefits specializes in medical, dental, life, and other benefits. We take pride in providing a peace of mind for thousands of Utah families. We are committed to our public mission and maintaining a positive team environment. We offer a competitive salary, and our benefits far exceed what most modern employers offer.

This job may be filled at either of the levels listed below.

Lead Auditor- Min: $80,621.30/yr. Max: $102,793.32/yr.

Internal Audit Manager- Min: $89,092.18/yr. Max: $113,596.59/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, without guidance, functions as team leader and supervises staff or a project team on a continuous basis. Audits are completed within budget.

ESSENTIAL JOB FUNCTIONS AND DUTIES

1. Reports to, assists, 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, including identifying new audit areas.
4. Participates in Audit/Risk/Insurance Committee meetings.
5. Functions as team leader and supervises staff or a project team on a continuous basis including audit planning, execution, conclusion, work paper review, finalization of issues, draft audit report development, and follow-up testing.
6. Meets all team deadlines and responsibilities, develops team members to maximize potential, helps team members meet goals, welcomes newcomers, and promotes a team atmosphere.
7. Supervises training, sets employee goals, coaches, delegates assignments, coordinates special training, maintains quality control, and sets goals and priorities in a timely and efficient manner.
8. Supervises the day-to-day operations of the Internal Audit team and monitors workflow to assure timely completion.
9. Assists and makes recommendations in evaluating worker performance, job retention, advancement, discipline and discharge. Participates in recruitment and selection process for new hires.
10. Works as a lead auditor on audits and leads by example.
11. Performs audits as assigned by the Internal Audit Director and takes responsibility for project management, developing audit programs, audit scope, sampling methodology, organizing, using resources effectively, and guiding and directing the work of Auditors.
12. Conducts management control and fraud discussions with other departments.
13. Independently performs comprehensive audits covering financial, operational, and regulatory areas to assure the safeguarding of assets, proper authorization, and recording of transactions.
14. Performs project risk assessments.
15. Performs field audits of external advisors and participating units as requested by management or the Audit Committee.
16. Communicates verbally and in writing the audit results to the auditee, Internal Audit Director, upper management, outside public agencies, and other external parties.
17. Audits complex and critical areas of the Retirement Office and PEHP, including investments. This may include derivatives, alternative investments securities lending and tactical asset allocations, IT processes, claims processing, reinsurance, and Electronic Data Processing (EDP) access and application controls.
18. 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.
19. Independently examines, evaluates, and verifies Office records and operating procedures.
20. Verifies compliance with established plans, policies, procedures, and control systems. Assures compliance to regulatory and statutory conditions.
21. Understands implications of complex IT considerations.
22. Identifies indicators of fraud.
23. Monitors adherence to Generally Accepted Accounting Principles (GAAP) and related technical pronouncements.
24. Understands and performs advanced computer assisted audit techniques.
25. Interfaces with department heads, upper management, legal, external auditors, and other state/legislative auditors to resolve audit issues and implement audit recommendations.
26. 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 EDP control strengths and weaknesses.
27. Conducts statistical and analytical review of financial and operating data.
28. Writes and develops audit programs and develops unique audit procedures which meets audit objectives.
29. 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.
30. Reviews work papers of Audit Director and other internal auditors.
31. Assists Internal Audit Director in preparing for the annual quality assurance and improvement program activities and the independent quality review.
32. Independently conducts consulting engagements.
33. Examines and evaluates participating unit payroll and contribution records and their operating procedures pertaining to retirement, withholding, disbursing of funds, and reporting.
34. Conducts external audits of investment advisors and participating units.
35. Follows The Institute of Internal Auditors Code of Ethics.
36. Conducts audits in accordance with the International Professional Practices Framework published by The Institute of Internal Auditors.
37. Receives 120 hours every 3 years (approx. 40 hours annually) of Continuing Professional Education (CPE) as required in the department.
38. Mentors others by sharing information, providing guidance, motivating, and role modeling. Supports and encourages others to improve their skills and knowledge.
39. Maintains strict confidentiality.
40. Performs other related duties as required.

LEAD AUDITOR MINIMUM QUALIFICATIONS:

Education and Experience

Bachelors degree in accounting, business, or related field; AND five (5) years of responsible experience performing comprehensive audits covering financial, operational, and regulatory areas; or an equivalent combination of education and experience.

Masters degree preferred.

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

INTERNAL AUDIT MANAGER MINIMUM QUALIFICATIONS:

Education and Experience

Bachelors degree in accounting, business, or related field; and five (5) years of responsible experience performing comprehensive audits covering financial, operational, and regulatory areas; including two (2) years of experience in mentoring, training, employee supervision, or coaching; or an equivalent combination of education and experience. Certification as a Certified Public Accountant (CPA), Certified Internal Auditor (CIA), or Certified Fraud Examiner (CFE) is required.

Masters degree preferred.

Specific experience in financial, IT, 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:

• Advanced computer assisted audited techniques, computer operations, and technical software applications.
• In-depth analysis and knowledge to develop solutions to complex problems.
• Data mining analytics.
• Risk analysis analytics.
• Corporate governance.
• Technical, financial, and program auditing methods, processes, and procedures.
• Developing technical reports and documents.
• Analyzing a variety of control system issues and problems and develop recommendations.
• Flow charting processes to identify and evaluate internal controls.

Required mathematical skills include working knowledge of:

• Sampling theory.
• Mathematical concepts such as probability and statistical inference.
• Concepts of basic algebra.
• GAAP 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, 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 preformed.
• Read, analyze, and interpret common technical financial reports and legal documents. Such as Title 49, leasing documents, and management agreements.
• 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.
• Read, analyze, and interpret complex documents.
• Respond to the most sensitive inquiries or complaints.
• Make presentations on controversial or complex topics to top management, public groups, and/or the Board of Directors.

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.
• Supervise and evaluate the workload and performance of internal auditors.
• Multi-task by handling a variety of duties in a timely and efficient manner.
• Follow through with assignments.
• Rely on extensive experience and judgement to plan and accomplish goals.
• 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 drivers 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 employees control and direction, or under the control and direction of the employees spouse.