Audit Associate

Job Description:

Partners with their respective Line of Business, as well as other Risk, Compliance, and Audit experts, and RCA Managers to generate, implement, sustain, assess, or supervise a viable risk management system. Engages in projects and undertakings that assure conformity with relevant federal, state, and local laws and rules. Pinpoints deficiencies and recommends solutions that mitigate losses stemming from deficient internal methods, mechanisms, or human oversights. Detects, addresses, and elevates risks as suitable. Functions as an intermediary link between the Line of Business and the Lines of Defense.

Benefits for Audit Associate:

• Medical, dental, and vision services are all integral components of healthcare support
• Basic term life insurance is a straightforward policy that offers a fixed death benefit amount for a specified term, typically at a lower cost compared to permanent life insurance. Optional term life insurance provides policyholders with the flexibility to add supplemental coverage options or benefits to their policy for an additional cost. Both basic and optional term life insurance serve as important tools for protecting beneficiaries' financial security
• Short-term and long-term disability benefits serve as crucial resources for individuals confronting disabilities that impact their employment, with short-term benefits addressing immediate financial needs and long-term benefits providing ongoing support
• The intersection of pregnancy disabilities and parental time off
• An employer-funded retirement plan is a valuable employee benefit that can help workers build a financial safety net for their post-career years
• The amount of time off granted for vacation is flexible, spanning from two weeks to five weeks based on the individual's salary and years of experience
• Have the opportunity to access up to 11 paid holidays within the year
• Adoption assistance
• The accrual process for Sick and Safe Leave is structured so that employees accumulate one hour of leave for every 30 hours worked, with the yearly total capped at 80 hours unless specified by law

Primary Responsibilities for Audit Associate:

• Collaborating with audit team managers to devise audit plans, including understanding risk and risk management approaches, recognizing and dissecting business processes, primary risks, and crucial controls, interacting with audited personnel, and appraising the suitability of control design effectiveness.
• Supervising staff auditors in testing controls based on audit program directives, involving the use of appropriate sampling and control testing methods, evaluating relevant concerns, and documenting activities performed to validate audit conclusions and comply with internal audit guidelines.
• Collaborating with audit team management to outline audit concerns, such as identifying risks, importance, root causes, and devising economically viable recommendations.
• Providing assistance to audit team managers in the reporting and closing stages of audit activities.
• Taking cues from coaching interactions to develop and refine strategies for growth.
• Executing further duties as needed by those in charge.

Basic Qualifications for Audit Associate:

• Holding a bachelor's degree or possessing relevant work experience are seen as interchangeable
• Typically, candidates are required to have more than five years of suitable experience

Preferred Skills/Experience:

• Thorough comprehension of the financial services landscape, encompassing financial reporting, accounting protocols, tax considerations, SOX stipulations, regulatory requirements, and risk assessment
• Extensive familiarity with the Global Standards for the Professional Operation of Internal Audit
• CIA, CPA, or any other suitable professional designation or advanced academic qualification
• Exceptional verbal and written communication capabilities are necessary
• Showing proficiency in critical thinking and analytical skills
• Competence in multitasking and meeting multiple deadlines concurrently

Work Schedule:

The position includes a central schedule that expects a minimum of three days spent working in the office per week, while granting the flexibility to work remotely on other days.

Equal Employment Opportunity:

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify Participation:

To confirm the eligibility of its employees to work in the U.S. and its territories, U.S. Bank enrolls in the E-Verify program by the U.S. Department of Homeland Security, a system managed by the U.S. Citizenship and Immigration Services.

Compensation:

The salary range provided corresponds to the primary location specified, with potential variations based on the actual work site. U.S. Bank offers an inclusive benefits package that incorporates incentive programs, recognition schemes, stock purchase options, 401(k) contributions, and retirement benefits, all subject to eligibility criteria.

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