Audit Manager

Company and Department Summary:

Founded in Chicago in 1889, Northern Trust is one of the world’s leading financial institutions. We specialize in providing asset servicing solutions and asset management to both institutional and personal clients. The delivery of products and services to this client base is supported through a network of offices in more than 20 countries around the globe.

We believe our most valuable asset is our engaged, empowered, and diverse workforce. As a global institution, Northern Trust is committed to building upon this diverse talent through encouraging innovative thinking and personal courage in an inclusive environment. Audit Services provides the opportunity for financial services professionals to work on some of the most challenging issues in the industry to apply knowledge, insights, and objectivity to protect and strengthen Northern Trust’s legacy.

Audit Services independently and objectively assesses operational, financial, compliance, risk management, and corporate governance processes to evaluate the adequacy of the design and effectiveness of key internal controls. In addition to providing assurance, Audit Services offers advice as a trusted partner with process subject matter expertise.

Role Overview:

The Global and Business Services Team within Audit Services is responsible for providing assurance focused on Northern Trust’s core banking (i.e., loans and deposits) and asset servicing (i.e., custody) operations, in addition to evaluating and advising on implementation of new and emerging technology such as robotic process automation. With this focus, team members have the unique opportunity to develop views towards enterprise risks across global processes and key technologies, drive thought leadership in assessing fraud risks and controls, and create data analytics strategies to increase assurance effectiveness. Team members are encouraged to build authentic relationships, think creatively and challenge the status quo, seek emerging trends and develop an insightful point-of-view, and hold themselves accountable in a flexible and delivery driven culture.

The Senior Auditor II is responsible for conducting and documenting audits throughout the Corporation. This role leads audit project teams, which includes providing oversight to the audit team and communicating results of the engagement to management. The Senior Auditor II provides technical expertise and training to auditors within the engagement audit team and works closely with Audit Managers to confirm the scope of the audit and to devise an appropriate testing approach to be performed during the engagement.

Major Duties:

• Leads two or more audits simultaneously at a minimum
• Conduct and document more complex and high risk audits throughout the Corporation
• Demonstrates professional skepticism and comfort with questioning how certain processes are being performed in order to facilitate making improvements
• Finalizes planning documents
• Assisting in Audit Plan evolution by challenging scoping of audit project
• Functions in various roles on audit assignments, including leading audits, staffing audits, and providing oversight functions based on the needs of the team
• Applies analytical skills to review information, perform assessments of the audit results, and evaluate the adequacy of controls
• Leads a team of 1 or more staff in executing audits
• Works closely with the Audit Team Leader/Manager I or II to perform/develop the audit planning, scoping, and fieldwork execution strategy
• Works closely with the Audit Team Leader/Manager I or II to develop the audit budget and/or timeframe for how the audit will be completed
• Reviews the work papers of the audit team members ensuring that departmental standards have been met
• Communicates the audit status to business unit and Audit Services management. Responsible for direct interaction with different committees and/or management
• Completes and compiles findings and recommendations for the purpose of status updates, memos, and audit reports
• Coordinates with other audit teams (business unit, regional, and specialist) to ensure evaluations of related areas occur timely and cover key areas within the audit
• Provides training, coaching, and auditing expertise to the audit team
• Operates independently; has in-depth knowledge of business unit/function
• As subject area expert, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
• Carries out activities that are large in scope, cross-functional and technically difficult
• Role is balanced between high level operational execution and development, and execution of strategic direction of business function activities
• Leading continuous monitoring meetings with business and Audit Services management
  

• Comprehensive knowledge of internal audit processes such as sampling, testing, and process/control walk throughs with strong work  paper documentation skills. Experience with internal audit in the financial services industry is preferred but not mandatory
• Proficiency in Microsoft Office applications; experience with audit workpaper applications preferred
• Professional certifications (e.g., CPA, CISA, CIA, ACA, ACCA) and/or an MBA along with demonstrated technical abilities in select areas (e.g., accounting, regulatory compliance, etc.) are preferred but not mandatory
• General knowledge of the operations, functions, and objectives of interfacing areas is required to properly perform audits on operations, services, systems, workflow, and operational impact on other areas
• Proven ability to work independently and in a team environment
• Strong organizational and time management skills
• Must be flexible and adaptive to change
  

• A College or University degree and/or adept auditing experience in a financial institution, or similar public accounting experience