Traineeship in Internal Audit

Internal Audit
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General Information

Type of contract Traineeship

Who can apply? EU nationals eligible for our traineeship programme

Grant The trainee grant is €1,170 per month plus an accommodation allowance (see further information section)

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 28.01.2022

Your team

We are seeking four trainees to support the Audit Missions Division and the Audit Support and Investigations Division. You will be working on exciting internal audit activities with colleagues from across Europe in the Directorate Internal Audit of the European Central Bank (ECB). 

You will be part of a team of around 45 members of staff who are responsible for providing independent and objective assurance and consulting services with a view to adding value and improving the ECB’s operations. 

You will work under the guidance of experienced auditors in one of the following two divisions:
  • The Audit Missions Division implements the annual audit plan of the ECB and the Internal Auditors Committee (IAC) by providing and coordinating audit assurance and consulting services. The audit focus areas of the Division are banking supervision, payments and securities settlement systems, banknotes, statistics, finance, human resources, administration and information technology.
  • The Audit Support and Investigations Division is responsible for all service and support processes for internal audit at the ECB and in the IAC, including planning, reporting, quality management, methodologies, training coordination and information management. The Division is also responsible for coordinating the audits conducted by the ECB’s external auditors (i.e. the European Court of Auditors and the external auditor of the ECB’s financial accounts) and for coordinating the selection and appointment of the external auditors. The Division also oversees investigative activities and administrative inquiries.

The ECB is an inclusive employer and we strive to reflect the diversity of the population we serve. We encourage you to apply irrespective of age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics.

Your role

As a trainee in the Audit Missions Division you will: 
  • contribute to audits in banking supervision, finance or IT;
  • contribute to analysing complex processes and procedures, identifying risks and assessing controls;
  • help to prepare process review documentation, such as flowcharts, written control assessments and narrative descriptions;
  • help to prepare audit evidence, such as technical documents, working papers and reports.

As a trainee in the Audit Support and Investigations Division you will:
  • contribute to coordination, communication and reporting activities and provide support to decision-makers to ensure the complete and timely delivery of all the ECB’s audit commitments to the external auditors;
  • contribute to the review and assessment of ECB internal whistleblowing reports, complaints and allegations related to breaches of professional duties, as well as the appropriate follow-up measures and procedures;
  • help to review audit and investigation processes by collecting and analysing data and working practices, identifying potential process improvements and updating relevant documentation (e.g. the Directorate’s internal audit manual).

In both divisions, you will: 
  • develop a general understanding of the objectives and scope of audits (e.g. regulatory and governance frameworks, internal controls and operational processes);
  • help to chair and moderate cross-functional meetings, audit interviews, adversarial procedures and exit meetings between ECB senior management, expert auditees and the external auditors;
  • present the results of your work to the members of your team, your division and/or the wider Directorate;
  • establish and maintain successful working relationships with fellow auditors and colleagues in other business areas.

These positions offer excellent opportunities to: (i) learn more about the functioning of the Eurosystem, the European System of Central Banks (ESCB) and European banking supervision; (ii) gain considerable insight into internal audit activities; (iii) use your language skills in a professional environment; and (iv) gain practical experience of working with highly skilled professionals on audit missions. You will have the opportunity to support the teams working on banking supervision, IT audit, investigations and the coordination of external auditors. With your fresh mindset, you will be able to suggest improvements to the functioning of the ECB. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.

Qualifications, experience and skills

  • a bachelor’s degree or higher in business administration, economics, accounting, finance, information systems, information/cyber security, law or another relevant field;
  • a general interest in internal audit activities, standards and methodologies;
  • knowledge of the functioning of the Eurosystem, the ESCB and European banking supervision;
  • a good knowledge of the MS Office package (in particular Word, Excel and PowerPoint);
  • good drafting and presentation skills, and the ability to present issues clearly and concisely both orally and in writing;
  • an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages.

  • a master’s degree in business administration, economics, accounting, finance, information systems, information/cyber security, law or another relevant field;
  • knowledge of one of the following: the standards of the Institute of Internal Auditors (IIA); best practices and standards in the field of IT, such as ISO, ITIL, COBIT, NIST; investigative methodologies and techniques; and data protection requirements;
  • experience in internal auditing, IT auditing, banking supervision, accounting or controlling in financial institutions or audit firms.

You are curious and eager to learn and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions

You are motivated to contribute to the ECB’s mission, to serve the citizens of the EU as a member of a public institution and to work with colleagues from all over Europe. You are keen to be part of our team and to use your skills and competencies to achieve the objectives of this position.

Further information

Traineeship of six months, with a possible extension up to a total of 12 months depending on individual performance and business area needs. 

Application and selection process

Further information on how to join us is available on our website.

The recruitment process for this position will include a pre-recorded video interview in the pre-selection phase and – if you are invited to participate in the subsequent selection phase – an online interview.