Business Audit Associate (Hybrid) Location Hybrid remote in Woodbridge, NJ : Internal Audit at Bessemer is an independent assurance and risk management function, reporting directly to the Audit Committee of the Board, with the mission of protecting the firm and enhancing its control environment. To achieve this objective, we work with all Bessemer businesses to assess internal control processes, identify areas of improvement, and ensure appropriate risk remediation. Specific to the Business Auditor role, the Business Audit Team assesses the effectiveness of internal control environment for all functions of the firm mainly related to trust, banking, investment, corporate finance, and custody as well as ensuring compliance with applicable regulations and standards.
Role Description: Specific responsibilities of the Business Auditor include: - Planning - Identify and evaluate key processes, risks and controls; contribute to preparation of audit programs and other procedures to test controls.
- Fieldwork - Timely execution, including stakeholder interviews, documentation (e.g., process narratives, walkthroughs, testing, etc.). Assess the design and operating effectiveness of key controls.
- Findings and Issues - Identify and document potential findings and issues. Discuss with relevant stakeholders and assess potential level of risk and impact.
- Reporting - Participate in drafting audit report, including overall risk evaluation of control environment, detailed audit findings and issues.
- Coordination and Collaboration - Coordinate and communicate effectively with audit and client contacts to deliver work in a professional and timely manner.
- Business Risk and Control Framework - Leverage financial industry regulations and guidance to assess risks and control design and operating effectiveness.
- Documentation - Document work clearly and concisely and in accordance with audit methodology to support evaluation of risk and control effectiveness.
- Communication - Deliver clear, timely and balanced written and verbal communications to peers, supervisors, and clients.
- Critical Thinking - Demonstrate critical thinking by gathering, analyzing, questioning and sharing perspectives on areas under review.
- Training and Development - Build awareness of technology trends, risks and controls through personal curiosity, training and networking.
Qualifications:
- Bachelor's degree in Finance, Business, Accounting, or other relevant subject areas.
- 3-5 years of experience with Internal Audit, Risk & Compliance or Operations preferably within the financial services industry.
- Recognized auditing certification, (e.g. CPA, CIA, CFIRS) or equivalent strongly preferred; non-certified hires are required to acquire Certified Fiduciary and Investment Risk Specialist (CFIRS) certification.
- Working knowledge of investment products, trust administration, asset management, and general accounting principles, as well as familiarity with laws and regulations related to trust, banking, and investments.
- Effective organizational and documentation skills (ability to write succinct and cohesive process narratives, issue statements and action plans), as well as ability to prioritize tasks.
- Strong communications and interpersonal skills.
- Healthy skepticism along with strong critical thinking and problem-solving skills.
- Ability to build and maintain effective relationships with peers and business partners.
About Bessemer Trust Bessemer Trust is a leading multifamily office, overseeing more than $150 billion in assets for over 3,000 individuals and families of substantial wealth. Its nearly 1,200+ employees are singularly focused on private wealth management — disciplined investment management, sophisticated wealth planning, comprehensive family office services, and highly personalized client service.
Established in 1907 as the family office for Annie and Henry Phipps, Bessemer Trust is in its seventh generation of ownership by the Phipps family. As a self-made entrepreneur, Henry Phipps was a founding partner and chief financial officer of Carnegie Steel.
Bessemer Trust retains its original focus as a privately owned and independent wealth manager deeply committed to its mission of providing peace of mind to its clients. Bessemer's adherence to putting clients' interests first, fiduciary mindset, and highly collaborative culture are at the heart of everything the firm does.
Key Facts
- For more than 115 years, Bessemer Trust has operated continuously in a single line of business, independently owned by one family.
- Headquartered in New York's Rockefeller Center, Bessemer Trust has 22 offices in total. Woodbridge, NJ, is one of the firm's largest offices, which hosts a wide range of technology and operations professionals. In addition to its sizable presence in New York and Woodbridge, the firm provides client service through offices in Atlanta, Boston, Chicago, Dallas, Delaware, Denver, Garden City, Grand Cayman, Greenwich, Houston, Los Angeles, Miami, Naples, Nevada, Palm Beach, San Diego, San Francisco, Seattle, Stuart, and Washington, D.C.
- To watch a video about Bessemer Trust's history, click here.
- To learn more about Bessemer Trust, click here.
About Our Employee Rewards and Benefits
We provide exceptional rewards and benefits that are among the best in the industry, giving our people access to a wide range of options, including:
- Competitive base salary plus discretionary annual bonus for select positions
- A 401(k) plan with a generous annual profit-sharing contribution
- Personalized development and career opportunities, including tuition reimbursement support
- Comprehensive medical, dental, and vision plans with zero contributions for employee coverage
- Employee assistance (EAP) and wellness programs
- Hybrid work environment: 60% in office, 40% remote for most positions
- Paid time off and paid parental leave
- Employer-paid life insurance and short- and long-term disability coverage
- Legal services and financial wellness plans at no cost to employees
Bessemer Trust is committed to creating a diverse and inclusive environment and is proud to be an equal opportunity employer. We encourage candidates of diverse backgrounds to apply.
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