Occ. Code 0322250
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PRINCIPAL INTERNAL CONTROL AND AUDIT SPECIALIST, GRADE 27 |
0322350 |
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SUPERVISING INTERNAL CONTROL AND AUDIT SPECIALIST, GRADE 31 |
0322450 |
New York State Department of Civil Service
Classification Standard
BRIEF DESCRIPTION OF CLASS SERIES
Positions in this series perform targeted examinations of the audit functions and internal control environments at regulated institutions by evaluating the ability of internal and external audits to identify and address weaknesses at such institutions. Positions also review institutions compliance with federal and State rules and regulations regarding internal and external audits. These positions are found only in the Banking Department.
DISTINGUISHING CHARACTERISTICS
SENIOR INTERNAL CONTROL AND AUDIT SPECIALIST: full performance level; performs examinations at less complex financial institutions, and assists in examining larger, more complex ones.
PRINCIPAL INTERNAL CONTROL AND AUDIT SPECIALIST: first supervisory level; assesses the internal control structure of large and complex institutions, and assists in the examination of the largest, most complex entities.
SUPERVISING INTERNAL CONTROL AND AUDIT SPECIALIST: second supervisory level; examines the internal control structure of the largest, most complex institutions; monitors new accounting and regulatory reporting and auditing issues; and prepares the Departments response to such new developments.
RELATED CLASSES
Bank Examiners conduct in-depth examinations of financial institutions and other businesses regulated by the Banking Department either by on-site examination and review of institutions financial condition, operating procedures and management controls or, when assigned to one of the Departments office divisions, by review and analysis of examination reports and periodic financial reports submitted by various types of institutions in order to ensure that State-chartered financial institutions conduct their businesses safely and soundly and their policies and operations conform to the Banking Law and the Departments rules and regulations.
ILLUSTRATIVE DUTIES
SENIOR INTERNAL CONTROL AND AUDIT SPECIALIST: evaluates the ability of internal and external audits to identify and address weaknesses; assesses the qualifications of the audit staff and the independence of the audit function; evaluates the overall adequacy of the audit program, completion status of the program and audit staffing requirements; analyzes the ability and effectiveness of the supervision of the audit function performed by the head office, board of directors or examining committee; reviews institutions policies and procedures relative to audit and internal control; assists in planning, organizing and coordinating examination activities; monitors examination progress and reviews results; prepares portions of examination reports; participates with examiners-in-charge, team leaders and others in examination pre-planning including the preparation and review of a risk matrix, risk assessment, and examination plan for each supervised institution; and interacts with institutions external auditors (CPA's); and discusses findings with examiner-in-charge and with institutions management.
An incumbent assigned to quality control activities assists on post-mortem reviews of examinations and supervisory actions to determine adherence to Department policies and procedures, work paper standards and supervisory standards.
PRINCIPAL INTERNAL CONTROL AND AUDIT SPECIALIST: supervises Senior Internal Control and Audit Specialists; oversees, plans, organizes and coordinates examination activities; assigns work to subordinates, monitors progress and reviews results; prepares portions of examination reports; participates with examiners-in-charge, team leaders and others in examination pre-planning including the preparation and review of a risk matrix, risk assessment, and examination plan for each supervised institution; and discusses examination findings with Department and institution management.
SUPERVISING INTERNAL CONTROL AND AUDIT SPECIALIST: supervises Principal Internal Control and Audit Specialists; prepares risk matrix, risk assessment, and examination plan for each supervised institution; directs post-mortem reviews of examinations and supervisory actions to determine adherence to Department policies and procedures, work paper standards and supervisory standards; and monitors new accounting, regulatory reporting and auditing issues and prepares appropriate departmental response.
MINIMUM QUALIFICATIONS
SENIOR INTERNAL CONTROL AND AUDIT SPECIALIST
Bachelor's Degree in accounting, economics or finance, including at least 24 credits in accounting and/or auditing, and four years of experience in bank or regulatory accounting, or bank auditing at a public accounting firm, bank or similar financial institution. A Master's Degree in accounting, economics or finance may substitute for one year of the required experience.
PRINCIPAL INTERNAL CONTROL AND AUDIT SPECIALIST
Designation as a Certified Public Accountant with a Bachelor's Degree in accounting, economics or finance and four years of experience in bank or regulatory accounting, or bank auditing at a public accounting firm, bank or similar financial institution. At least two years of the experience must have been in a managerial position, supervising professional staff. A Master's Degree in accounting, economics or finance may substitute for one year of the non-supervisory experience.
SUPERVISING INTERNAL CONTROL AND AUDIT SPECIALIST
Designation as a Certified Public Accountant with a Bachelor's Degree in accounting, economics or finance and six years of experience in bank or regulatory accounting, or bank auditing at a public accounting firm, bank or similar financial institution. At least two years of the experience must have been in a managerial position, supervising professional staff. A Master's Degree in accounting, economics or finance may substitute for one year of the non-supervisory experience.
Date: 8/05
NOTE: Classification Standards illustrate the nature, extent and scope of the duties and responsibilities of the classes they describe. Standards cannot and do not include all the work that might be appropriately performed by a class. The minimum qualifications are those which were required for appointment at the time the Classification Standard was written. Please contact the Division of Staffing Services for current information on minimum requirements for appointment or examination.