Audit Specialist

Job Description

Audit Specialist (Paid Internship) | UMB Bank

The Tone:
This is a paid internship at UMB Bank. The specific location is not detailed in the job listing. UMB Bank, a 5,354-person organization, provides critical financial services, including accounting, pricing, reconciliation, and audit preparation for alternative investment fund clients. This role is integral to supporting the annual audit of financial reporting processes, directly easing the workload for Fund Accountants and ensuring efficient client support. As an Audit Specialist, you will have a unique opportunity to gain professional experience, deepen your understanding of audit and accounting principles, and explore the alternative investment industry within a collaborative team environment at UMB.

The TL;DR
• Role: Internship
• Location: Not specified in listing
• Pay: $33786–$49698 yearly
• Team: A small Audit Team that provides audit preparation services for alternative investment fund clients.
• Mission: To handle all tasks related to the annual audit of the financial reporting process for alternative investment fund clients.
• Tech Stack: Excel, UMB accounting systems

What You’ll Actually Do
• Data Extraction & Summarization: Operate UMB accounting systems and Excel to methodically pull in and consolidate various data exports, creating comprehensive summaries essential for client financial statements.
• Financial Statement Support: Utilize the meticulously prepared and summarized data to contribute to the accurate compilation and review of client financial statements, ensuring readiness for audit.
• Data Integrity & Reconciliation: Perform thorough reconciliation and clean-up of financial data, meticulously identifying and resolving discrepancies to ensure the integrity and accuracy required for the preparation of audited financial statements.
• Cross-functional Collaboration: Actively partner with members of the Fund Accounting team and other internal peers, fostering strong working relationships to ensure the accuracy, completeness, and ultimate satisfaction of client deliverables.

The Must-Haves
• Background: This entry-level internship requires candidates to have successfully completed at least two years of an undergraduate program, specifically within a business-related field. This foundation will be crucial for understanding the core concepts of finance and operations within the banking sector.
• Experience: While specific years of experience are not required, candidates should possess a strong desire to learn and grow within the fields of audit and accounting. Practical experience with data handling, potentially through academic projects or prior internships, would be beneficial for the role’s analytical tasks.
• Skills: Essential skills include strong communication abilities for effective collaboration and clear reporting, meticulous review skills to ensure data accuracy and completeness, and practical proficiency in using Excel for data manipulation and analysis, alongside an aptitude for learning and operating UMB’s proprietary accounting systems.