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Reports
to:
Director of Internal Audit
Experience: 5+ years,
Professional Certification desired
Summary of Position:
Experienced Internal Audit Professional with Supervisory Responsibilities
Degree: Baccalaureate
Degree Required with business related degrees preferred
General
Summary
The Principal Auditor position is responsible for performing internal
audit work throughout the University of Minnesota, including the
supervision of such work performed by others. Incumbents are expected
to have extensive internal audit experience, project management
skills, and supervisory skills necessary to produce internal audit
work which conforms to professional standards. Incumbents will generally
work in ambiguous situations for which they will need to establish
criteria, define work protocols, and structure assignments for other
staff. Incumbents are expected to be fulfill their responsibilities
with limited supervision while maintaining effective communications
with assigned Managers. Principal Auditors will normally be assigned
the largest and most complex audit projects undertaken and will
be actively involved in making decisions regarding the scope of
work performed, the depth and breadth of audit testing needed, and
reporting disposition of results with the final approval of the
assigned Audit Manager. Principal Auditors are also responsible
for reviewing the work performed by others for accuracy, completeness,
relevancy, and adherence to standards. Incumbents are responsible
for communicating audit results, including the preparation of written
reports.
A
Principal Auditor is expected to:
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Possess
extensive knowledge of the University of Minnesota: its business
processes; policies and procedures; governance practices; and
regulatory obligations.
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Be
adept at assessing complex activities to identify potential
financial, operational, and compliance risks which warrant audit
attention.
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Plan
and direct audit work which sufficiently evaluates control environments
in units of varying complexity using a repertoire of sound audit
principles, skills and techniques so the areas of material risk
are provided appropriate levels of audit coverage.
-
Identify
when specialized skills/resources are needed to capably assess
unique activities (e.g. system risks, health and safety risks,
etc.).
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Apply
internal control concepts in a wide variety of University settings
and appropriately assess the exposures resulting from ineffective
or missing control practices.
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Be
adept at evaluating audit results from management's perspective,
even when defined criteria or standards do not exist.
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Provide
appropriate levels of supervision and quality assurance review
to ensure that work performed by others is competently performed
and meets established standards for documentation, thoroughness,
accuracy, etc..
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Be
effective in evaluating overall audit results, weighing the
relevancy, accuracy, and perspective of conclusions against
the accumulated audit evidence both for individual audit tests
as well as for the project as a whole.
-
Be
effective in communicating audit results, both verbally and
in writing, so they are persuasive, placed in the appropriate
context, and understood by the recipient.
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Structure
work assignments to further individual staff development.
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Provide
interim performance feedback to staff via written evaluations.
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Demonstrate
effective project management skills which promote team productivity
and the completion of audit projects within time budgets and
calendar schedules.
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Be
able to conduct a thorough internal investigation, execute appropriate
investigative
audit procedures, obtain appropriate evidence, and draw sound
and defensible conclusions, seeking counsel from other parties
(OGC, HR, University Police, etc.) when appropriate.
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Interact
effectively with a wide variety of people in a wide variety
of settings.
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Handle
multiple assignments simultaneously.
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Exhibit
creativity and innovation in recommending improvements to departmental
audit practices and processes and encouraging those behaviors
in others.
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Engage
in professional development activities, including completion
of a professional certification program.
The
Principal Auditor position does not have formal supervisory responsibility
for other staff. Supervision of staff on a project basis is, however,
a major component of this position. Work assignments and direction
of staff support and student personnel is also expected to occur
frequently.
Incumbents generally interact at the dean and department chair level,
although some interaction with higher level employees may occur
when directed by audit managers. Interaction is expected to occur
during audit projects as well as on a consulting/advisory basis.
Incumbents
must be comfortable working in ambiguous and/or stressful situations.
Flexibility, ability to change priorities quickly, and capacity
to handle multiple tasks are required of this position.
The
position requires:
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Internal
auditing experience and demonstrated proficiency
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Effective
project management and supervisory skills
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Effective
interpersonal skills
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Effective
verbal and written communications skills
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Critical
thinking and analytical skills
Periodic
in-state travel may be required. Overtime is expected to be worked
when needed to meet deadlines, etc.
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