Position Description
Minimum Education
Bachelor's degree or equivalent experience
Minimum Experience
5
Summary
Under the Office of Inspector General’s (OIG) team approach, the auditor participates on, and in some cases leads, audits and evaluations, and other reviews (hereinafter referred to as “reviews”) of programs and operations of the Board of Governors of the Federal Reserve System (Board) and the Consumer Financial Protection Bureau (CFPB). The objectives of these reviews may include assessments of program economy, efficiency, effectiveness, equity, and ethics; internal control assessments; compliance reviews to determine adherence to applicable laws, regulations, or management’s policy and procedure expectations; and prospective analyses. These reviews may also help prevent and detect fraud, waste, and abuse in Board and CFPB programs and operations. The incumbent may also lead follow-up reviews to determine whether previous OIG recommended actions were implemented and may also assist with information technology audits. Audit work is conducted in accordance with generally accepted government auditing standards (GAGAS) Evaluation work is conducted in accordance with the Council of the Inspectors General on Integrity and Efficiency’s (CIGIE) Quality Standards for Inspection and Evaluation. The auditor operates consistently with the OIG’s values, including integrity; objectivity and independence; respect; excellence; collaboration and teamwork; and diversity, equity, inclusion, and accessibility.
Duties And Responsibilities
- Participates on audit or evaluation teams reviewing Board or CFPB programs and operations by gathering, consolidating, and analyzing data and information; by interviewing agency officials, staff, and others; and by developing appropriate findings, conclusions, and recommendations. Assists senior auditors by completing major segments of large or more complex reviews and writing major sections of the review reports.
- Participates as a member of the project team in planning and scoping reviews by obtaining sufficient information to understand the program or operation under review, the adequacy of internal controls, the general flow of information and services through the program or operation, and by determining the appropriate objectives, scope, and methodology to be used. The scope and methodology are designed to meet the objectives of the specific review.
- Independently designs major workstreams that serve as the framework for conducting and documenting large portions of project fieldwork activities. Is solely responsible for developing and organizing clear, logical, and concise workpapers to document review work, including the documentary and testimonial evidence collected or developed, and the results of complex analytical work performed, which support the findings, conclusions, and recommendations. Workpapers are accurate and supported by sufficient and appropriate evidence and completed in a timely manner. May provide guidance to junior staff on preparing workpapers and designing and completing workstreams.
- Participates as a member of the project team to develop the review’s message and results. Independently prepares major sections of written reports to convey review results to internal OIG stakeholders, agency officials, and others. The report must accurately, clearly, succinctly, and persuasively communicate the review findings, conclusions, and recommendations. Indexes larger, more complex sections of reports to ensure they are supported by sufficient and appropriate evidence. May provide guidance to junior staff on report writing and indexing.
- Presents information orally, including findings, conclusions, and recommendations, to internal and external stakeholders, which may include Board members, Board or CFPB officials, and Federal Reserve Bank officials. Communicates in a clear, accurate, succinct, and persuasive manner. Ensures that information presented is supported by sufficient and appropriate evidence.
- When serving as a project lead, leads the review planning and scoping activities and serves as the project spokesperson by effectively communicating and coordinating with stakeholders throughout the project lifecycle. Assists in developing staff through coaching, and providing ongoing specific, timely, and actionable positive and constructive feedback. Communicates feedback on staff performance to managers. Reviews and approves the team’s workpapers to ensure that (1) there is sufficient and appropriate evidence to support the findings, conclusions, and recommendations, and (2) they are prepared in accordance with applicable standards, e.g., GAGAS, CIGIE, and OIG policies and procedures. Leads the review to ensure that it is conducted in an efficient and effective manner. Has lead responsibility for overseeing the team’s development of its message and the preparation of the report in accordance with applicable standards, e.g., GAGAS, CIGIE, and OIG policies and procedures.
- Plans, conducts, and documents follow-up reviews to determine whether OIG recommendations have been appropriately implemented and drafts follow-up memorandums to update the status of those recommendations. May provide guidance to junior staff on recommendation follow-up activities. Conducts independent referencing of indexed reports to verify that report content is accurate and supported by sufficient and appropriate evidence. May also assist in OAE’s annual planning, outreach, and risk assessment activities; in developing the OIG’s strategic plan; and in supporting other office initiatives.
- Ensures that all project work, including planning, fieldwork, and reporting; recommendation follow-up; and independent referencing activities are conducted in accordance with applicable standards, e.g., GAGAS, CIGIE, and OIG policies and procedures, and within established timeframes.
Position Requirements
KNOWLEDGE/SKILL REQUIREMENTS
At the FR-26 grade, bachelor’s degree from an accredited college or university in accounting, finance, economics, business, or related field, or equivalent experience, plus at least five years of audit, financial accounting, or related experience. Knowledge of principles, theories, practices, and/or techniques of accounting, auditing, inspecting, management, and/or program evaluation to independently plan and conduct reviews of the Board’s or the CFPB’s programs and operations. Experience conducting financial or performance reviews under GAGAS or CIGIE standards, or related experience. Knowledge and skill to evaluate compliance with applicable laws and regulations, the adequacy of internal controls, and the operational efficiency and effectiveness of systems and activities. High degree of proficiency in oral and written communication skills. Excellent interpersonal skills and ability to work well in a team environment. Ability to obtain and maintain a Secret clearance. Is subject to the Board’s drug testing program. Prefer certification in one or more of the following: Certified Public Accountant, Certified Internal Auditor, Certified Fraud Examiner, Certified Information Systems Auditor, and other related professional certifications.
In addition, at the FR-27 grade, at least six years of audit, financial accounting, or related experience, including experience conducting complex and leading operational or performance reviews in compliance with applicable standards, e.g., GAGAS or CIGIE. Requires expert knowledge of audit, evaluation, inspection, management, and/or analytical principles, techniques, methods, and procedures, including CIGIE, GAGAS, and other applicable standards or guidance to independently plan and conduct reviews of the Board’s or the CFPB’s programs and operations, or related experience. Ability to develop new approaches for the study and evaluation of programs.
REMARKS
- Supports the OIG Supervision & Regulation section, which conducts reviews of the Board’s and CFPB’s financial institution oversight program.
- Financial services background or prior financial institution oversight experience preferred.
- Prior project management experience and proven effectiveness managing others preferred.
- Prior experience conducting evaluations or performance audits preferred.
- Past performance evaluations may be requested
- The OIG’s telework policy requires employees to be physically present in the office a minimum of 4 days per month. Employees may be expected to be physically present in the office more than 4 days per month, as required by business needs.
Primary Location
DC-Washington
Employee Status
Regular
Overtime Status
Exempt
Job Type
Standard
Work Shift
1st Shift
Relocation Provided
No
Compensation Grade Low
FR PAY GRADE 26
Compensation Grade High
FR PAY GRADE 27
Minimum Salary
$123,500.00
Maximum Salary
$201,630,00
Posting Date
Oct 8, 2024
