Principal Auditor Job Description

Principal Auditor Job Description

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Principal auditor provides management with analysis of the operational and financial impact of proposed regulatory changes.

Principal Auditor Duties & Responsibilities

To write an effective principal auditor job description, begin by listing detailed duties, responsibilities and expectations. We have included principal auditor job description templates that you can modify and use.

Sample responsibilities for this position include:

Comprehensive knowledge of auditing standards and concepts
Develop and maintain broad financial services experience and Bank knowledge
Keep abreast of business/industry changes and their affect on the bank's plan/approach
Complete audit work/assignments in line with agreed budgets
Communicate with Principal Audit Manager regarding audit progress and escalates problems/delays
Support implementation of the Group Audit risk-based methodology, including performing coverage of automated business processes, the respective technology environment and supporting structured ongoing risk assessment
Provide subject matter expertise to other audit teams execute risk based audits both locally and globally
Keep abreast of business/industry changes and their affect on the company's plan/approach
Contribute to Risk Assessment Profiles of specific businesses and overall implementation of Group Audit Methodology
Develop relationships across the company's franchise and to communicate the results of their work to clients at all levels

Principal Auditor Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Principal Auditor

List any licenses or certifications required by the position: CISA, CQA, CPA, ASQ, CIA, ITIL, CAMS, CFE, CSSP, II

Education for Principal Auditor

Typically a job would require a certain level of education.

Employers hiring for the principal auditor job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Accounting, Finance, Business, Education, Engineering, Computer Science, Auditing, Information Systems, Economics, Science

Skills for Principal Auditor

Desired skills for principal auditor include:

Auditing standards and concepts
Key regulatory changes and how these changes impact audit planning
Banking activities
Company’s business operations
External manufacturing experience preferable the Consumer Packaged Goods industry
Experience with validating data integrity
Key financial and regulatory reporting risks
Understanding of algorithms and scenarios
Finance
Regulatory environment specific to the financial services sector

Desired experience for principal auditor includes:

Develop and maintain professional working relationships with colleagues, the business and respective support areas
Evaluate the adequacy and effectiveness of technology controls relating to risks involved in the relevant business areas in accordance with the Group Audit Methodology and the established risk assessment framework
Execute day-to-day operational audit work on the basis of the company's Group Audit Methodologies (conducts risk assessments, designs tests to assess control effectiveness for key risks, drafts audit reports for management review, facilitate issue tracking and validate closure of issues)
Develop and maintain professional working relationships
Evaluating the adequacy and effectiveness of controls in the relevant business areas in accordance with Group Audit methodology and the established risk assessment framework
Leading complex audits, including those incorporating vendors in scope, and delivering to a high standard on time and on budget

Principal Auditor Examples

1

Principal Auditor Job Description

Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of principal auditor. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for principal auditor
  • Sharing expertise to help develop the capability of their colleagues and contributing to the ongoing development of the global Sourcing team and Group Audit
  • Executing day-to-day operational audit work on the basis of Group Audit Methodologies
  • Discussing exceptions found during fieldwork with Principal Audit Manager and participating in exit meetings, drafting audit reports for review by audit management and facilitating issue tracking and validate closure of issues
  • Leading a team on individual assignments and implement dynamic planning through continuous monitoring of the business and successfully implement risk based audits both locally and globally
  • Participating in internal projects and, if required, supporting special investigations
  • Communicating with Principal Audit Manager regarding audit progress and escalates problems / delays
  • Conduct KYC risk assessment for US and the Region
  • Participate in meetings with business auditors and provide input business lead audits
  • Assist in training other staff
  • Ensure work is completed in a timely manner
Qualifications for principal auditor
  • Develop and maintain broad regulatory experience
  • Support the implementation of the Group Audit risk-based methodology including performing coverage of automated business processes and the respective technology environment and supporting Continuous Audit Assessment
  • Participate and partly lead and successfully deliver Technology audits, or participate in integrated Business and Technology audits, both locally and globally
  • Work on Front to Back Audits along with the GTB operational audit team and cover the IT application and related infrastructure controls and the IT aspects for the global and regional GTB application landscape
  • Generate impactful draft audit findings and reports for review by senior Group Audit management and to facilitate issue tracking and validate closure of issues
  • You will support implementation of the Group Audit risk-based methodology including
2

Principal Auditor Job Description

Job Description Example
Our company is searching for experienced candidates for the position of principal auditor. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for principal auditor
  • You will be required to proactively develop and maintain professional working relationships with colleagues, the business and respective support areas
  • Whilst the majority of the audit work is based in the US, the team is also responsible for coverage in certain overseas locations
  • Leading a team on individual assignments assisting in the scheduling and staffing of audit engagements
  • Documenting activity flows of processes to be reviewed, identifying risks and the key actual controls in place to mitigate the identified risks, attending meetings with internal stakeholders when required
  • Independent in judgment, with the ability to be challenged
  • Educated to Degree level, with relevant professional qualifications or equivalent
  • Able to interface with business units and stakeholders
  • Significant exposure to investment banking clients and a robust knowledge of capital markets processing, with demonstrable experience of IT auditing in an investment banking context , audits of automated business controls
  • Strong organisational skills to take ownership of agreed targets, to enable the efficient completion of audit projects
  • A natural role model and reference point for your peer group
Qualifications for principal auditor
  • Able to multi-task assignments and prioritise workload, deliver to deadlines with limited supervision and be resilient under pressure
  • Leading audits of controls over individual benchmarks and benchmark related activities across a broad spectrum of businesses and all asset classes
  • Undertaking audit assignments, draft audit issues and reports for review by audit management, facilitating issue tracking and validating closure of issue
  • Executing audit fieldwork in line with the agreed audit approach, for example documenting activity flows, identification of key risks and testing of key controls to determine whether they are properly designed and are operating effectively and documenting work in accordance with GA standards
  • Providing input to the risk assessments and approaches across Global Markets (GM) and Corporate and Investment Banking (CIB) in relation to financial benchmark related topics
  • Partnering across GM and CIB and other audit teams globally, particularly product audit teams, market risk, compliance and technology audit teams, to ensure comprehensive audit coverage and an integrated approach to key risk topics
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Principal Auditor Job Description

Job Description Example
Our company is growing rapidly and is looking for a principal auditor. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for principal auditor
  • Communicating openly with GA management and internal stakeholders, keeping them informed of potential issues and escalate problems or delays promptly
  • Delivering and sustaining own performance against key objectives in the context of functional strategies
  • Working in a team responsible for global coverage, the majority of the audit work is based in London, however some international travel will be required
  • Previous financial services internal audit or risk management experience within a large international financial services organisation
  • Strong knowledge of Investment Banking (IB) and traded products, coupled with knowledge of working within the operational requirements and regulatory environment of a global bank
  • Familiarity with risk and control practice in a global banking environment and with financial benchmarks activity and best practice within the industry
  • Highly effective verbal and written communication and presentation skills and be able to communicate effectively at all levels
  • Excellent team working capabilities and able to build strong business and team relationships
  • Continuous development of technical expertise
  • Experienced in leading audits or reviews of controls over capital markets trading activities and traded products (equities, fixed income, foreign exchange and credit markets)
Qualifications for principal auditor
  • Able to work well as part of a team, multi-task and deliver assignments within challenging deadlines
  • Able to build strong stakeholder relationships and work collaboratively with management teams and with other control functions
  • Confident, with drive and enthusiasm
  • Able to effectively multi-task in a fast paced environment, prioritise workload with minimal supervision and be resilient under pressure
  • Able to design and disseminate best practice and lessons learned to colleagues and stakeholders
  • Educated to degree level or to the equivalent and have relevant professional qualification
4

Principal Auditor Job Description

Job Description Example
Our company is hiring for a principal auditor. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for principal auditor
  • Develop and maintain professional working relationships with colleagues
  • Complete tasks in a timely and efficient manner
  • Assisting the PAM with continuous monitoring of the assigned businesses and with the development of risk assessments to feed into the audit plan
  • Close liaison and coordination with other GA teams, both in the US and elsewhere, to provide comprehensive front-to-back coverage
  • The PA may also be required to lead, or participate in, ad hoc projects
  • Lead and/or participate on multiple international audit engagements and projects simultaneously ensuring each engagement is conducted in an efficient and effective manner
  • Lead an audit team during fieldwork and implement dynamic planning through continuous monitoring of the business
  • Proactively contribute to an environment in which people want to do their best and are proud to be members of the team
  • Leading and / or participating in front-to-back Trading and Sales audits
  • Assisting the PAM with continuous monitoring of the assigned businesses
Qualifications for principal auditor
  • Prior internal audit experience at an investment bank or broker-dealer preferred but not required
  • Undergraduate or equivalent degree required
  • Knowledge and experience of Financial Services, particularly Transaction Banking Products including Cash Management
  • The candidate will have Asset Management and/ or Wealth Management experience and ideally a good knowledge of institutional/retail Asset Management, Private Banking, including Offshore Banking, Real Estate Asset Management, and Private Equity
  • The candidate will be able to multi-task assignments and prioritize their workload with limited supervision and be resilient under pressure and be able to deliver to deadlines
  • Minimum 7-10 years of experience with a combination of financial services and big 4 accounting firm exposure
5

Principal Auditor Job Description

Job Description Example
Our innovative and growing company is looking to fill the role of principal auditor. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for principal auditor
  • Ensuring timely completion of audit work/assignments in line with agreed milestones and budgets
  • Executing all audit work in line with GA audit methodology
  • Leading or supporting the lead auditor with the delivery of audits on an assignment basis across the Group
  • Supporting the Director of IT Audit and/or Senior IT Audit Managers for each assignment through the entire audit process from planning through to issue management and closure
  • Assisting the Director of IT Audit and Senior IT Audit Managers to develop and continuously review an annual risk based audit plan for the Company, aligning to Business Strategy
  • Plan audit assignments simultaneously
  • Document the key processes and associated controls being examined in the audit
  • Manage a portfolio of varied audit assignments to time, quality and budget and have responsibility for reviewing the audit working papers in line with the Group Wide internal audit methodology
  • Discuss the audit report and findings with senior line management and for ensuring that appropriate responses are obtained for each issue raised in the report
  • Evaluate the design and operating effectiveness of internal controls relating to CRegO/CEOs divisional risks
Qualifications for principal auditor
  • The candidate is expected to hold a Bachelors Degree or higher, and accountancy or other equivalent professional qualification
  • Experience auditing various XVA, including Credit Valuation Adjustment (both accounting regulatory) and Funding Valuation Adjustment (FVA) in a large, complex and multinational financial institution
  • Conduct CRegO/CEOs divisional risk assessment for the Americas region
  • Develop and maintain broad regulatory knowledge and experience
  • Stay abreast of business/industry changes and their effect on the department’s audit plan, methodology and risk assessments
  • Provide oversight/support for major components of an activity within professional practices operations

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