Internal Audit Specialist

at  Ontario Securities Commission

Division
Regular, Full time
Closing Date: November 21, 2024
The Ontario Securities Commission (OSC) is the statutory body responsible for regulating Ontario’s capital markets in accordance with the mandate established in the provincial Securities Act and the Commodity Futures Act. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. This mandate is performed through policy, operational, and enforcement activities. The OSC also contributes to national and global securities regulation development.
We offer a diverse, fair, and flexible work environment and take pride in our challenging and rewarding work.
Summary
Reporting to the Chief Audit and Risk Executive, this role is responsible for providing assurance and advisory services to senior management and Board of Directors to support the achievement of business and strategic objectives through the timely execution of risk-based internal audits in accordance with the annual, internal audit and Internal Control over Financial Reporting (ICFR) testing plan approved by both the OSC and Board of Directors.

Key Duties and Responsibilities

• Plans, conducts, co-ordinates, and leads multiple complex audit projects (e.g. operational and IT audits, compliance reviews, evaluation of design and effectiveness of ICFR, value for money, forensic, special investigations, etc.). Consults with stakeholders to develop the frameworks to be used in executing the audit plans; and conducts assessment of the effectiveness of control strategies, structures and systems of the OSC in mitigating risks.
• Designs, implements and executes risk and control assessment and quality assurance tools to meet the needs of the stakeholders. Designs and facilitates effective, creative interventions, in both large and small group settings, to address the problem solving and risk assessment needs of a wide range of stakeholders throughout the Commission.
• Evaluates stakeholder needs and identifies opportunities for improvement in strategic/ operational planning, business processes, organizational design, change management, performance measurement, quality assurance, risk management, controllership and related policies and procedures. Develops training materials and provides education sessions for stakeholders in areas such as fraud awareness, risk analysis, mitigation and action plan development, financial management and accountability systems and governance.
• Manages relationships and networks with OSC management and colleagues including identifying, defining and fostering alliances across the OSC. Maintains ongoing contact throughout assurance and advisory projects. Coordinates and oversees the work of external consultants.
• Provides, advice and advisory services to assist stakeholders in the development, use and evaluation of risk management and control strategies for current or proposed operations, processes, policies and programs. Applies group problem solving and facilitation skills in conducting stakeholder consultations and in the development of action plans to address organizational performance, governance, control, risk and quality assurance issues.
• Leads and/or contributes to the communication and negotiation of audit observations and internal control deficiencies through the review of draft reports with stakeholders, presenting issues to relevant stakeholders, and proposing appropriate, cost-beneficial and practical recommendations. Conducts follow-up procedures to assess effectiveness of remediation.
• Contributes to ongoing continuous improvement in Internal Audit services by keeping current on new developments in the profession, identifying improvement opportunities and involvement in continuous improvement activities. Ensures projects comply with audit and professional standards. Supports the best practices and professional culture within the function. Develops, maintains, and monitors comprehensive operational dashboards of KPI and metrics for engagement management.
• Participates in cross-functional meetings to provide input and advice on governance, risks and internal controls.
• Assists with preparation of quarterly reports for the Board of Directors.
• Prepares detailed analysis and findings reports, root-cause analysis and responses to ad-hoc requests.

Qualifications

• Undergraduate Degree
• Professional designation such as Chartered Professional Accountant (CPA), or Certified
• Internal Auditor (CIA) required
• Other professional designations such as Certified Information Systems Auditor (CISA) or
• Certification in Risk Management Assurance an asset
• Experience in the application of internal control frameworks (i.e. COSO Internal Control Integrated Framework) is an asset
• Experience in testing IT general and automated controls is an asset
• Minimum five (5) years internal audit, compliance or risk management experience
• Ability to work closely with senior management
• Understanding of the Canadian and international securities environment and how regulatory actions impact stakeholders
• Able to communicate effectively at all levels with an organization
• Able to effectively negotiate with and manage stakeholders, including external resources when specialized skills for internal audit projects are engaged
• Strong analytical, written and verbal communication, interpersonal and relationship building skills
• Ability to adapt to change quickly and multi-task
• Demonstrated effective project management capability
• Possesses in-depth knowledge and understanding of audit tools and experience applying and integrating data analytics in audit processes

Grow your career and make a difference working at the OSC.
* OSC Employees: please apply in Workday using the Browse Jobs feature within your Jobs Hub *
We thank all applicants for their interest in the Ontario Securities Commission. We will contact those selected for an interview.
The OSC is committed to diversity and providing an inclusive workplace and providing accommodation in accordance with the Accessibility for Ontarians with Disabilities Act and the Human Rights Code. It is our priority to ensure employment opportunities are visible and barrier-free to all under-represented groups including but not limited to, Indigenous, Black and racialized groups, people with disabilities, women and people from the 2SLGBTQI+ community, to achieve an employee demographic profile reflective of the demographic profile of Ontarians.
The OSC is a proud partner with the following organizations:
Ascend Canada
,
BlackNorth Initiative
,
Canadian Centre for Diversity and Inclusion
, and
Pride at Work Canada
If you require an accommodation during the recruitment process, please let us know by contacting our confidential inbox
HRRecruitment@osc.gov.on.ca
.
Visit
Accessibility at the OSC
to review the OSC’s policies on accessibility and accommodation in the workplace

• Plans, conducts, co-ordinates, and leads multiple complex audit projects (e.g. operational and IT audits, compliance reviews, evaluation of design and effectiveness of ICFR, value for money, forensic, special investigations, etc.). Consults with stakeholders to develop the frameworks to be used in executing the audit plans; and conducts assessment of the effectiveness of control strategies, structures and systems of the OSC in mitigating risks.
• Designs, implements and executes risk and control assessment and quality assurance tools to meet the needs of the stakeholders. Designs and facilitates effective, creative interventions, in both large and small group settings, to address the problem solving and risk assessment needs of a wide range of stakeholders throughout the Commission.
• Evaluates stakeholder needs and identifies opportunities for improvement in strategic/ operational planning, business processes, organizational design, change management, performance measurement, quality assurance, risk management, controllership and related policies and procedures. Develops training materials and provides education sessions for stakeholders in areas such as fraud awareness, risk analysis, mitigation and action plan development, financial management and accountability systems and governance.
• Manages relationships and networks with OSC management and colleagues including identifying, defining and fostering alliances across the OSC. Maintains ongoing contact throughout assurance and advisory projects. Coordinates and oversees the work of external consultants.
• Provides, advice and advisory services to assist stakeholders in the development, use and evaluation of risk management and control strategies for current or proposed operations, processes, policies and programs. Applies group problem solving and facilitation skills in conducting stakeholder consultations and in the development of action plans to address organizational performance, governance, control, risk and quality assurance issues.
• Leads and/or contributes to the communication and negotiation of audit observations and internal control deficiencies through the review of draft reports with stakeholders, presenting issues to relevant stakeholders, and proposing appropriate, cost-beneficial and practical recommendations. Conducts follow-up procedures to assess effectiveness of remediation.
• Contributes to ongoing continuous improvement in Internal Audit services by keeping current on new developments in the profession, identifying improvement opportunities and involvement in continuous improvement activities. Ensures projects comply with audit and professional standards. Supports the best practices and professional culture within the function. Develops, maintains, and monitors comprehensive operational dashboards of KPI and metrics for engagement management.
• Participates in cross-functional meetings to provide input and advice on governance, risks and internal controls.
• Assists with preparation of quarterly reports for the Board of Directors.
• Prepares detailed analysis and findings reports, root-cause analysis and responses to ad-hoc requests