Internal Audit Summer Internship

Company: Flagstar Bank ( Learn More )

General Information
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Job Description

Position Title

Internal Audit Summer Internship


Headquarters-Troy, MI

Job Summary

Flagstar Bank is looking for an intern to join our Internal Audit team over the summer. As a Flagstar Intern you will have the opportunity to learn the daily functions and operations of our Internal Audit department. During this time you will interact with team members and leaders to gain real-world experience by working alongside our team to learn our processes and improve efficiencies while expanding on the core concepts introduced throughout your college classes. Throughout your internship you will participate in multiple engagement sessions designed to enhance your career outlook, communication skills, and business knowledge.

Job Responsibilities:

  • Work with Lead Auditor and department managers and designated employees on audit objectives.
  • Assist in, and performs, the audit planning process, including announcement memo, audit scope, and work paper assignments under the direction of Lead Auditor and management.
  • Work with Lead Auditor, management and IT / ACL analysts to maximize opportunities for audit integration, automation and/or continuous monitoring.
  • Perform wrap up activities, including clearing of review notes and assisting in drafts of findings and audit reports.
  • Assist the Lead Auditor and management, as required, in activities related to coordination of audit communications throughout the audit, including planning memos, opening meeting, status update meetings, and exit meetings.
  • Execute fieldwork, document work papers, review results with Lead Auditor and management, and assist in communications on the systems of internal controls to ensure adherence to policies and procedures which facilitates compliance with internal policies and procedures, agency guidelines and applicable statutes, regulations, and regulatory requirements.
  • Under the direction of the Lead Auditor and management, Identifies improper documentation and researches issues and makes recommendations to improve policies or procedures accordingly.
  • May be assigned to work with outside auditors to help support the external auditing function.
  • Ensure compliance with applicable federal, state and local laws and regulations.  Complete all required compliance training.  Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures.  Take responsibility to keep up to date with changing regulations and policies.
  • Job Requirements

  • Enrolled in program leading to a Bachelor’s Degree in Accounting, Finance, Business Administration or Information Technology
  • Desire to learn about or pursue longer term work in internal audit, bank operations, financial, risk, or similar type of function
  • Financial institution industry experience is a plus
  • Ability to learn and apply knowledge of Bank/Corporate operating policies and procedures and Federal and State regulations
  • Good interpersonal communication skills (written & verbal)
  • Good quantitative and analytical skills
  • Good organizational skills
  • Ability to think critically
  • Recent experience with banking regulatory compliance guidelines as plus
  • Ability to work well with team members and management
  • Receptive to feedback
  • Strong desire to learn

  • Job Requirements