Torchora
Back to Home

Internal Officer — Key Responsibilities and Required Skills

💰 $40,000 - $90,000 (varies by region and experience)

Risk & ComplianceInternal AuditFinanceOperationsGovernance

🎯 Role Definition

The Internal Officer leads and executes internal control and assurance activities across the organization to mitigate risk, safeguard assets, ensure compliance with policies and regulation, and improve operational effectiveness. This role coordinates audit planning, performs risk assessments, conducts fieldwork, documents findings, and partners with business leaders to implement sustainable corrective actions, while leveraging data analytics and automation to increase audit coverage and insight.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Internal Audit Analyst
  • Risk & Compliance Analyst
  • Financial Controller / Finance Analyst

Advancement To:

  • Senior Internal Auditor / Lead Internal Officer
  • Internal Audit Manager / Head of Internal Controls
  • Risk & Compliance Manager

Lateral Moves:

  • Operational Risk Manager
  • Compliance Officer
  • Financial Controls Manager

Core Responsibilities

Primary Functions

  • Design, develop, and maintain a risk-based internal audit plan aligned with enterprise risks and strategic objectives; prioritize audits using risk assessment frameworks and stakeholder input.
  • Conduct end-to-end internal audits across finance, operations, IT, procurement, treasury, HR, and third-party/vendor management, including scoping, testing, interviewing, and evidence collection.
  • Perform detailed control testing and substantive procedures to evaluate design and operating effectiveness of internal controls, producing clear and reproducible workpapers.
  • Execute risk assessments for business processes and system changes, identifying key risks, control gaps, and mitigating activities to inform audit scope and remediation priorities.
  • Prepare high-quality, actionable audit reports with findings, root-cause analysis, risk ratings, and time-bound remediation recommendations for management and the audit committee.
  • Lead or participate in SOX/compliance readiness programs including control design review, testing, deficiency tracking, and remediation monitoring to support external reporting integrity.
  • Monitor remediation plans: follow-up on open audit findings, track corrective action progress, validate remediation effectiveness, and update risk owners and governance forums.
  • Coordinate with external auditors, regulators, and other assurance providers to align audit activities, share findings, and reduce duplication of work while maintaining independence and objectivity.
  • Use data analytics and continuous auditing techniques to identify anomalies, trends, and high-risk transactions; develop scripts or dashboards (e.g., SQL, ACL/IDEA, Power BI) to enhance coverage.
  • Support fraud risk assessments and investigations by gathering evidence, performing forensic tests, and collaborating with legal and HR when misconduct is suspected.
  • Evaluate adequacy of policies, procedures, and governance processes; recommend policy updates and best practices to strengthen the control environment and operational efficiency.
  • Assess and test IT general controls and application controls with IT audit coordination — including access management, change management, backup/recovery, and segregation of duties.
  • Facilitate root-cause analyses with process owners to ensure corrective actions address systemic issues, not just symptoms; support process redesign where needed.
  • Provide advisory services to business partners on control design for new products, projects, system implementations, and business transformations to embed controls by design.
  • Manage audit logistics including scoping, resource allocation, timelines, and documentation; ensure audits are delivered on time, within budget, and to professional standards (IIA).
  • Maintain audit methodology, templates, and quality assurance processes; drive continuous improvement in audit delivery and documentation quality.
  • Present audit findings, trends, and strategic risk insights to senior management and audit committee members, tailoring communications for executive stakeholders.
  • Coach and mentor junior audit staff: delegate work appropriately, review deliverables, and support skill development in testing, documentation, and stakeholder management.
  • Stay current on regulatory changes, accounting standards, industry trends, and emerging risks (cybersecurity, data privacy, fintech) and integrate relevant considerations into audit planning.
  • Develop and deliver training sessions and awareness programs for business units on internal controls, compliance obligations, and fraud prevention techniques.
  • Assess third-party/vendor controls and perform lifecycle oversight for vendors that present material operational or compliance risk; coordinate vendor audits where necessary.
  • Support corporate initiatives such as enterprise risk management (ERM) frameworks, KPI/control dashboards, and control self-assessment programs to embed risk ownership across the organization.
  • Drive the adoption of automation and audit technology (GRC tools, analytics platforms) to increase efficiency, repeatability and insight while reducing manual testing.
  • Conduct post-implementation reviews of major projects and system changes to validate objectives were met and controls operate as intended.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis.
  • Contribute to the organization's data strategy and roadmap.
  • Collaborate with business units to translate data needs into engineering requirements.
  • Participate in sprint planning and agile ceremonies within the data engineering team.

Required Skills & Competencies

Hard Skills (Technical)

  • Internal audit planning and execution (risk-based audit methodology, workpapers, reporting).
  • Control testing and remediation monitoring, including SOX control testing and deficiency management.
  • Risk assessment methodologies (COSO, ERM) and ability to map controls to risks and objectives.
  • Financial statement knowledge and accounting principles (GAAP/IFRS) for audits impacting financial reporting.
  • Data analytics tools and techniques (SQL, Excel advanced, ACL/IDEA, Power BI/Tableau) for sampling and continuous auditing.
  • IT general controls and application controls understanding; familiarity with ITGC, access control, change management, and segregation of duties.
  • Audit/GRC platforms and workflow tools (e.g., AuditBoard, MetricStream, TeamMate) and willingness to optimize tools.
  • Regulatory and compliance knowledge relevant to the industry (e.g., SOX, GDPR, PCI DSS, AML).
  • Forensic investigation techniques and evidence preservation for fraud-related matters.
  • Project management and audit project scheduling; ability to manage multiple audit engagements concurrently.
  • Experience with ERP systems (SAP, Oracle, Workday) and configuration/transactions testing.

Soft Skills

  • Strong written and verbal communication — produce executive-level reports and present complex findings clearly.
  • Critical thinking and problem-solving — synthesize information, identify root causes, and recommend practical solutions.
  • Relationship building and stakeholder management — work constructively with process owners and senior leaders to drive improvements.
  • Professional skepticism and ethical judgment to maintain independence and objectivity.
  • Time management and prioritization to handle competing deadlines and shifting priorities.
  • Coaching and team leadership — guide junior staff, delegate effectively, and foster a learning environment.
  • Adaptability and resilience — operate effectively in fast-changing business and regulatory environments.
  • Attention to detail with a focus on accuracy and reproducibility of audit evidence.
  • Influencing skills — secure buy-in and prompt action on remediation through persuasive negotiation.
  • Continuous improvement mindset — champion process automation and data-driven audit approaches.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Accounting, Finance, Business Administration, Information Systems, or a closely related field.

Preferred Education:

  • Professional certifications such as CIA (Certified Internal Auditor), CPA, CISA, ACCA, or equivalent.
  • Master's degree in Accounting, Finance, MBA, or related advanced degree considered a plus.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration
  • Information Systems / Computer Science
  • Risk Management / Compliance

Experience Requirements

Typical Experience Range: 2–7 years in internal audit, risk, compliance, or related assurance roles.

Preferred:

  • 3–5 years minimum in internal audit or control functions for mid-level Internal Officer roles; 5+ years for senior roles.
  • Prior experience in industry-specific regulations and large ERP environments (e.g., financial services, manufacturing, healthcare).
  • Demonstrated experience executing SOX programs, IT control testing, data analytics for audit, and managing complex stakeholder relationships.
Explore More Careers