Senior Investment Auditor

Job Summary

Under the supervision of the Director of Internal Audit, the Senior Investments Auditor conducts and coordinates comprehensive internal audits of the System’s investment activities, including investment operations, investment accounting, compliance, and related financial and governance processes.

The Senior Investments Auditor is responsible for leading and executing complex investment, financial, and compliance audits, including the evaluation of internal controls over investment activities. The position reports audit results and alerts the Director of Internal Audit to any conditions that may pose financial, operational, fiduciary, regulatory, or reputational risks to the System. The position is responsible for preparing high-quality audit work papers and clearly documenting findings and recommendations.

This position independently plans and performs complex auditing engagements in the areas of investment risk management, operations, accounting, internal control, and governance. Work involves providing assurance and advisory services to investment management and staff while maintaining professional independence, ethical standards, and effective working relationships. Reports resulting from audit work are distributed to appropriate departments and presented to the Audit Committee of the Board of Trustees.

Audit work is performed in conformance with the Global Internal Audit Standards. The incumbent must possess excellent interpersonal, verbal, and written communication skills to effectively communicate audit results to management. The incumbent must also possess working knowledge of applicable State statutes, fiduciary standards, and Comptroller accounting and reporting requirements to assess compliance. In addition, this position assists the Director of Internal Audit and Internal Audit Manager in audit planning activities and serves as a subject matter advisor on investment-related audit matters.

Essential Functions

• Serve as lead auditor for investment-related audit engagements and provide guidance and training to Internal Auditors assigned to investment audits.
• Plan and manage assigned investment audits, including defining objectives and scope, documenting investment processes and procedures, performing investment risk and internal control assessments, and developing detailed audit programs.
• Research and develop audit programs for new and recurring investment audits, considering prior audit results, investment policies and guidelines, contracts, applicable laws, rules, and regulations.
• Lead audit entrance and exit conferences and meetings with investment management and other stakeholders to discuss audit objectives, progress, results, and compliance matters.
• Perform audit procedures in accordance with IIA standards, including:

• Analyzing complex investment and financial data using auditing and data analytics tools
• Testing compliance with internal policies, investment guidelines, contracts, and external laws and regulations
• Conducting complex investment audits, including management fee calculations, expense reviews, valuation methodologies, and performance-related controls
• Evaluating the design and effectiveness of internal controls over investment operations and governance
• Identifying audit issues and developing practical, risk-based recommendations; and
• Documenting audit work and conclusions in audit work papers.

Essential Functions (Continued)

• Consult with management throughout the audit regarding scope changes, audit issues, and progress.
• Conduct special investment-related projects as assigned by internal audit management.
• Recommend and participate in initiatives to enhance the effectiveness, efficiency, and risk focus of the internal audit function.
• Discuss potential findings and observations with Internal Audit management.
• Prepare clear, concise audit reports and review them with Internal Audit Management.
• Assist in presenting audit reports, findings, and recommendations to the Executive Director, executive management, and the Audit Committee of the Board of Trustees.
• Participate in follow-up activities to assess the adequacy and effectiveness of management’s corrective actions.

Essential Functions (Continued)

• Assist in the development of the annual audit plan, including the annual risk assessment related to investment activities.
• Proactively review and analyze investment-related business processes to identify opportunities to strengthen controls and mitigate risk.
• Provide research and advisory services to departments to support process improvements based on leading investment and governance practices.
• Perform departmental budget coordination duties, as assigned.
• Stay current on internal auditing standards, investment industry practices, and regulatory guidance relevant to institutional investors.
• Perform other audit-related duties as required or assigned.

Knowledge, Skills, and Abilities

• Advanced ability to analyze and interpret complex investment, financial, and operational data
• Strong understanding of investment processes, risks, controls, and fiduciary responsibilities
• Excellent written and verbal communication skills, including the ability to present audit results to senior leadership and governing bodies
• High degree of professionalism, integrity, and objectivity
• Strong collaboration, leadership, and team-building skills
• Demonstrated ability to manage multiple priorities and meet deadlines

Minimum Requirements

• Bachelor’s degree in accounting, finance, business administration, economics, or a related field
• Professional certification such as CPA, CIA, CISA, or CFA preferred
• Five or more years of progressively responsible experience in investment auditing, of risk, compliance, operations, accounting ,  or public pension experience preferred
• Proficiency with Microsoft Office Suite; experience with audit or data analytics tools is a plus
• Experience with institutional investment programs, including public and private market strategies
• Experience working with senior investment professionals and executive leadership