Audit Specialist

MOHELA is a not-for-profit student loan servicer with a combined portfolio of student loans owned by the federal government, special entities, and itself. We are a contracted servicer with the Department of Education.

We currently have 1300 employees, and we are headquartered in Chesterfield, Missouri, with an operation center in Columbia, Missouri, and offices in Harrisburg, Pennsylvania and Washington, DC. We have been actively providing financial support and other support to Missouri's higher education programs for more than 40 years.

MOHELA is looking for a passionate and skillful Audit Specialist

MOHELA offers competitive salary and a benefit package that includes paid personal and vacation time-off, insurances for medical, dental, life, short-term disability, 401K plan with dollar-for-dollar match up to 8% of salary, and tuition assistance.

What You Will Be Doing

Responsible for the coordination and facilitation of reviews and audits related to Federal Servicing and all other loan programs and business lines. Assist with all aspects of internal audits including planning, testing and reporting.

Track audits, issues noted and deliverables. Monitor and report on progress of the review. Create and present reports to management on review progress, problems and solutions.

Work with the Federal Contracts and Consumer Lending Compliance (CLC) to execute any corrective action plans (CAP) resulting from a review or audit. Responsible for deliverables related to Internal Controls and Federal Servicing Review and Audits. Work with internal and external partners to ensure successful execution of all internal audits and all external audits as needed.

Essential Duties and Responsibilities:

• External Audit Facilitation and Management Track all aspects of external audit requirements from initial notification and announcement letter to final issuance of reports. Provide special attention during on-site portions of external audits including securing required resources.
  
  Meet all deadlines provided related to preliminary documentation, data populations and follow up questions required to successfully complete audits. Develop professional working relationships with Auditors/Examiners in charge of external audits and escalate higher priority items to internal and external management as needed. Act as the primary point of contact for assigned external audits to ensure successful completion of external audits and resolution of any items requiring corrective action.
  
  Responsible for all external audit requests outside of the annual financial statement audit including, but not limited to: SSAE18, Common Review Initiative (CRI), United States Department of Education (USDE) program reviews for multiple programs, supervisory examinations conducted by regulators, Uniform Guidance (UG) audits, Specialty Servicing exams and vendor reviews for lenders and other external third parties.

• Audit Planning and Annual Risk Assessment Assist with the ongoing process of documenting objectives, risks and controls as they relate to MOHELAs company-wide risk assessment. Utilize working knowledge of internal and external audit coverage to assist in the creation of the risk-based Internal Audit plan following the formal annual risk assessment process and provide feedback to audit management related to changes in risk factors related to documented objectives and risks.

• Internal Controls Understand documented internal controls and required testing performed by external audit partners. Assess the effectiveness of internal controls through internal audit testing and identify the need for additional controls or control improvements as needed.

• Federal Servicing Reviews and Audits

• Facilitate audit process and report on audits performed by Federal Student Aid (FSA) and vendors for onsite visits, offsite visits, provided by client reports (PBCs), and monthly reconciliation PBCs for the A-123 audit. Plan, develop and schedule audit timelines.
  
  Track audit progress, issues noted and deliverables provided. Monitor and report on progress of reviews. Create and present reports to management detailing review progress, issues and solutions.
  
  Accommodate all FSA and USDE requests related to audits and internal controls and work closely with Federal Contracts Department to accommodate all requests including those related to compliance and monitoring. Meet deadlines associated with each request received.

• SSAE18 Reviews

• Work with external firm hired to conduct bi-annual SSAE18 SOC1 audit report to coordinate requests and provide evidence for testing. Facilitate meetings with process owners and external audit firm including annual walkthroughs.
  
  Track questions and requests and ensure all deadlines are met. Provide final SSAE18 audit reports to FSA (used to leverage FSA A-123 audit) as scheduled. Responsible for incorporating changes to process flows and internal controls tested as part of the SSAE18.
  
  Assist with ongoing mapping of relevant operational and IT controls to FISCAM control coverage and other requirements from FSA for DL audits. Coordinate other SSAE18 exams and SOC reports for specialty servicing clients in a manner consistent with bi-annual SOC reports covering federal loan portfolio. Manage all aspects of Specialty Servicing SOC1 audit performed annually following each calendar year end.

• Process Flows and Internal Controls

• Facilitate and maintain internal control process flows, risk matrix and cycle memo for FSA audits. Conduct regular meetings with process owners to review and update process flows to ensure processes and controls are accurately captured on the related documents.
  
  Work with management to supporting documentation exists and is available for reviews and audits. Create new process flows as needed utilizing Microsoft Visio and other software and maintain documentation outlining and tracking controls for all loan portfolios in addition to those included in required deliverables.

• External Audit Approach Provide updates in support of maintenance of rolling combined audit plan with information regarding all external audit requirements. Contribute to quarterly updates of a combined audit plan showing all internal and external audit activity in conjunction with Internal Audit Plan which accounts for objectives, risks, controls and external audit coverage.

• Monitoring and Corrective Action Track and monitor any findings or improvement opportunities identified during external audits which require corrective action for external audits. When necessary coordinate the creation of corrective action plans with business process owners and follow up on all aspects of those plans to ensure that corrective action is completed successfully and timely.
  
  Report results of required corrective action to external audit managers. Follow up with individual department leadership to ensure successful implementation of corrective action plans both internal and external.

• Communication

• Create and distribute written communications in regards to Federal Servicing related reviews and audits. Effectively interact with other MOHELA staff and external parties for the purpose of gathering and providing information related to Federal Servicing and Internal Audits.
  
  Assist with the creation and presentation of both internal and external audit and review progress, issues and solutions. Effectively and professionally communicate with all business partners.

• Department Liaison

• Support all areas within MOHELA to assist with efforts to assure that operational procedures and process flows are updated, as required, resulting from a Federal Servicing related review or audit. Responsible for the coordination of efforts to compile and provide deliverables related to audits and internal controls.

• Support of Internal Audit Function Provide assistance to Internal Audit staff during planning, testing, review or reporting where independence is not an issue. Where possible, coordinate flexible dates of external audits to accommodate business need of individual departments and the Internal Audit schedule.

Experience You Will Bring

Education/Experience:

Bachelors Degree required; two years or more of project management and/or internal or external audit facilitation experience preferred. Proven knowledge of auditing standards and procedures, laws, rules and regulations preferred.

Bank examiner or regulatory exam environment experience preferred. Excellent leadership, interpersonal, verbal and written communication, presentation, and problem solving skills. Ability to execute and manage long and short term projects with minimal supervision. Student Loan or other financial institution experience desirable.

• Ability to grasp, understand, and apply complex regulations.

• Ability to work independently, be a self-motivated team player displaying a high degree of professionalism with a positive attitude and the ability to handle confidential information.

• Possess the flexibility necessary to effectively perform in a constantly changing professional environment.

• Excellent customer service skills required.

We are an EEO/AA Employer. We do not discriminate in hiring on the basis of race, color, national origin, sex, gender identity, sexual orientation, religion, age, disability, protected veteran status, or any other characteristic protected by federal, state or local law.

To build a diverse workforce, MOHELA encourages applications from individuals with disabilities, minorities and veterans.

In compliance with the American Disabilities Act Amendment Act (ADAA), if you have a disability and would like to request an accommodation in order to apply for a position with MOHELA, please call please call 636.733.3700 x3571, TDD 7-1-1, or email