Audit Specialist

NOTE: This is a hybrid position. Applicants must live within 1 hour of our Chesterfield location.

POSITION OVERVIEW:

Essential Duties and Responsibilities:

• External Audit Facilitation and Management - Track all aspects of external audit requirements from initial notification and announcement letter to final issuance of reports. Provide special attention during on-site portions of external audits including securing required resources. Meet all deadlines provided related to preliminary documentation, data populations and follow up questions required to successfully complete audits. Develop professional working relationships with Auditors/Examiners in charge of external audits and escalate higher priority items to internal and external management as needed. Act as the primary point of contact for assigned external audits to ensure successful completion of external audits and resolution of any items requiring corrective action. Responsible for all external audit requests outside of the annual financial statement audit including, but not limited to: SSAE18, Common Review Initiative (CRI), United States Department of Education (USDE) program reviews for multiple programs, supervisory examinations conducted by regulators, Uniform Guidance (UG) audits, Specialty Servicing exams and vendor reviews for lenders and other external third parties.

• Audit Planning - Assist in the planning phase of external audits to ensure engagement efficiency, compliance with professional standards, and alignment with organizational objectives. Focus on developing comprehensive audit plans, coordinating resources, and establishing timelines to ensure effective engagement execution.

• Internal Controls - Demonstrate a thorough understanding of documented internal controls and the testing procedures performed by external audit partners. Collaborate with external auditors by providing accurate and timely documentation, clarifications, and process walkthroughs. Independently evaluate the design and operating effectiveness of internal controls through internal audit procedures, ensuring alignment with regulatory and industry standards. Proactively identify control gaps, recommend enhancements, and support management in implementing sustainable control improvements to strengthen the organization's overall control environment and readiness for external audit review.

• Federal Servicing Reviews and Audits - Facilitate audit process and report on audits performed by Federal Student Aid (FSA) and vendors for onsite visits, offsite visits, provided by client reports (PBCs), and monthly reconciliation PBCs for the A-123 audit. Plan, develop and schedule audit timelines. Track audit progress, issues noted and deliverables provided. Monitor and report on progress of reviews. Create and present reports to management detailing review progress, issues and solutions. Accommodate all FSA and USDE requests related to audits and internal controls and work closely with Federal Contracts Department to accommodate all requests including those related to compliance and monitoring. Meet deadlines associated with each request received.

• SSAE18 Reviews - Work with external firm hired to conduct bi-annual SSAE18 SOC1 audit report to coordinate requests and provide evidence for testing. Facilitate meetings with process owners and external audit firms including annual walkthroughs. Track questions and requests and ensure all deadlines are met. Provide final SSAE18 audit reports to FSA (used to leverage FSA A-123 audit) as scheduled. Responsible for incorporating changes to process flows and internal controls tested as part of the SSAE18. Assist with ongoing mapping of relevant operational and IT controls to FISCAM control coverage and other requirements from FSA for DL audits. Coordinate other SSAE18 exams and SOC reports for specialty servicing clients in a manner consistent with bi-annual SOC reports covering federal loan portfolio. Manage all aspects of Specialty Servicing SOC1 audit performed annually following each calendar year end.

• Process Flows and Internal Controls - Facilitate and maintain internal control process flows, risk matrix and cycle memo for FSA audits. Conduct regular meetings with process owners to review and update process flows to ensure processes and controls are accurately captured on the related documents. Work with management to support documentation exists and is available for reviews and audits. Create new process flows as needed utilizing Microsoft Visio and other software and maintain documentation outlining and tracking controls for all loan portfolios in addition to those included in required deliverables.

• External Audit Approach - Provide updates in support of maintenance of rolling combined audit plan with information regarding all external audit requirements. Contribute to quarterly updates of a combined audit plan showing all internal and external audit activity in conjunction with Internal Audit Plan which accounts for objectives, risks, controls and external audit coverage.

• Monitoring and Corrective Action - Track and monitor any findings or improvement opportunities identified during external audits which require corrective action for external audits. When necessary, coordinate the creation of corrective action plans with business process owners and follow up on all aspects of those plans to ensure that corrective action is completed successfully and timely. Report results of required corrective action to external audit managers. Follow up with individual department leadership to ensure successful implementation of corrective action plans both internal and external.

• Communication - Create and distribute written communications for Federal Servicing related reviews and audits. Effectively interact with other MOHELA staff and external parties for the purpose of gathering and providing information related to Federal Servicing and Internal Audits. Assist with the creation and presentation of both internal and external audit and review progress, issues and solutions. Effectively and professionally communicate with all business partners.

• Department Liaison - Support all areas within MOHELA to assist with efforts to assure that operational procedures and process flows are updated, as required, resulting from a Federal Servicing related review or audit. Responsible for the coordination of efforts to compile and provide deliverables related to audits and internal controls.

• Other Job Related Duties as Assigned.

MINIMUM REQUIREMENTS:

• Bachelor's Degree (additional equivalent experience above the required minimum may substitute)
• 2 years experience in project management and/or internal or external audit facilitation
• Must be a U.S. citizen with an active 6C Public Trust Security Clearance or the ability to obtain this level of clearance.
• Must live within 1 hour of our Chesterfield, MO location and by able to work a hybrid schedule.
• Excellent leadership, interpersonal, verbal and written communication, presentation, and problem-solving skills.
• Ability to execute and manage long and short-term projects with minimal supervision.
• Must be proficient with Microsoft Office programs including Word, Excel and PowerPoint.

PREFERRED QUALIFICATIONS:

• Proven knowledge of auditing standards and procedures, laws, rules and regulations
• State regulatory exam environment experience preferred, including preparation, coordination of requests, communication with regulators, and remediation follow-up.
• Student Loan or other financial institution experience
• Microsoft Visio and Project knowledge preferred.
• Preference for CPA, CIA, CFE, or related certificate/license.