Position Purpose
Contributes to the soundness of the Federal Home Loan Bank of Seattle (bank) by assuring that the bank complies with Federal Statute, Federal Housing Finance Agency (FHFA) regulations, and bank policies. Conducts financial, compliance, and operational audits to provide for the reliability of management and financial information; compliance with applicable laws, regulations, and bank policies; safeguarding of assets and resources; and effective and efficient bank operations. Evaluates bank’s internal controls to provide reasonable assurance regarding the achievement of objectives established by the Board of Directors and management. This work is accomplished in accordance with regulations, policies and procedures of the Internal Audit Department, the Institute of Internal Auditors and the FHFA.
- Contributes to the effectiveness of the Bank and the Department by conducting comprehensive audits. The incumbent thoroughly researches the audit area to:
- Develop technical understanding necessary to make knowledgeable decisions.
- Create and update working papers that document the understanding of audit area, such as preparing flowcharts and spreadsheets; conducting written analysis; writing narratives describing accounting entries, describing significant policies and regulations; gathering exhibits; and other permanent audit department records.
- Review and perform a risk analysis of the audit area to identify in advance the perceived internal control strengths and weaknesses, to aid in the design of an effective audit program.
- Determine whether internal controls are functioning as intended.
- Determine whether a function is properly conducted, applicable laws, regulations, policies, generally accepted accounting principles (GAAP), and procedures have been complied with, and whether bank resources are managed in an efficient manner.
- Determine appropriate conclusions and makes useful recommendations based on audit work completed.
- Provides for the strength of the bank’s overall system of management controls by participating in the planning process. This may include defining needed audits, developing a comprehensive audit universe, and performing risk analysis. The higher grade position may also assist in allocating department resources to planned projects.
- May serve as a lead auditor over other auditors on projects as assigned. The higher grade position may also include delegation of audit duties to auditors on the project, review of the staff auditors work, offering constructive criticism as needed and training of audit staff.
Desired Qualifications
- Bachelor’s degree in business administration, with an emphasis in accounting, business, economics or finance. CPA or CIA preferred. Advanced degree or relevant experience may qualify the candidate for a more senior job grade.
- Three years practical experience in the field of internal or external auditing required. To qualify for a higher grade, candidate must have a minimum of five years of practical experience.
- Ability to generate and verify critical financial ratios, calculate and verify complex market variables (price, rate, term, basis, spread, yield), and knowledge of market relationships and jargon. Understanding of relationships and affects that balance sheet risks such as prepayment and interest rates have on income, market valuations, etc.
- Thorough understanding of theories and practices related to auditing, banking operations, financial concepts, Sarbanes-Oxley compliance, and general business theories.
- Strong interpersonal skills, along with excellent oral and written communication skills.
- Strong working knowledge of general computing and business application controls.
- Ability to organize work, meet departmental deadlines, and work independently as well as on teams. To qualify for a higher grade, candidate must have strong project management skills.
We offer a rich compensation package, including competitive wages, comprehensive health benefits, three weeks vacation, 401K, a business casual environment as well as other benefits. The Federal Home Loan Bank values diversity in the workforce and is an equal opportunity employer. Women and Minorities are encouraged to apply.