Quality Assurance Intern Jobs in Chicago, IL

Corporate Audit Services (CAS) Quality Assurance & Improvement Program (QAIP) is responsible for providing independent assessment of audit quality, conformance with the IIA Global Internal Audit Standards, CAS methodology, and applicable regulatory requirements. The QAIP function promotes continuous improvement across CAS through quality assurance reviews, self-assessments, issue validation, reporting, and methodology enhancement activities.

The Audit Project Manager – QAIP is responsible for executing quality assurance reviews, self-assessments, targeted reviews, and continuous improvement initiatives with minimal supervision. This role partners with audit leadership to assess audit quality, evaluate professional judgment and credible challenge, identify opportunities for improvement, and support reporting to senior management and the Audit Committee.

The ideal candidate will possess deep internal audit expertise, strong analytical and communication skills, knowledge of professional standards and regulatory expectations, and the ability to influence stakeholders across a large, complex organization.

Primary Responsibilities

Quality Assurance Reviews

• Lead and execute quality assurance reviews, including in-flight reviews, post-engagement reviews, targeted reviews, thematic reviews, and horizontal assessments.

• Assess audit engagements for conformance with CAS Policy, Policy Guidance, Procedures, audit methodology, regulatory expectations, and the IIA Global Internal Audit Standards.

• Evaluate audit planning, risk assessments, testing strategies, issue identification, workpaper documentation, supervisory review, and reporting effectiveness.

• Assess evidence of professional skepticism, auditor judgment, and credible challenge during audit engagements.

Professional Standards & Regulatory Assessments

• Complete self-assessments of conformance with professional standards, regulatory requirements, and internal audit governance expectations.

• Monitor changes to professional standards, regulatory guidance, and industry best practices and assess impacts to CAS methodology and governance documents.

• Assist with assessments supporting internal and external quality reviews required under the QAIP.

Continuous Improvement & Quality Monitoring

• Identify trends, themes, root causes, and opportunities to improve audit quality and consistency across CAS.

• Analyze QAIP results and quality metrics to identify emerging risks and improvement opportunities.

• Share best practices and lessons learned with audit teams and leadership.

• Promote a culture of accountability, collaboration, and continuous improvement throughout CAS.

QAIP Findings & Validation

• Monitor, validate, and report on remediation activities associated with QAIP findings and observations.

• Assess effectiveness and sustainability of corrective actions.

• Conduct follow-up reviews and validation testing as necessary.

• Evaluate issue quality, root cause analysis, and remediation commitments during QAIP reviews.

Reporting & Stakeholder Engagement

• Prepare and communicate QAIP review results to audit management

• Assist QAIP Senior Audit Manager with Audit Committee reporting and annual QAIP reporting activities.

• Develop concise, actionable reports that clearly articulate observations, root causes, risks, and recommendations.

• Build productive working relationships with audit teams while effectively challenging audit practices when appropriate.

Methodology & Program Support

• Assist QAIP Senior Audit Manager with development and execution of the annual QAIP Plan.

• Support development and maintenance of QAIP methodologies, templates, tools, checklists, and guidance documents.

• Provide consultation and training related to audit quality expectations, methodology, and professional standards.

• Support strategic QAIP initiatives, automation efforts, quality analytics, and reporting enhancements.

• Perform special projects and other duties as assigned.

Basic Qualifications

• Bachelor's degree or equivalent work experience.

• Typically more than 8 years of experience

Preferred Qualifications

• 10 or more years of Internal Audit, Risk Management, Compliance, Regulatory, Financial Services, or related experience.

• Strong analytical, critical thinking, and problem-solving skills.

• Demonstrated ability to manage multiple priorities and deadlines.

• Excellent written and verbal communication skills.

• Certified Internal Auditor (CIA), CPA, CISA, CRCM, or other relevant professional certification.

• Expert knowledge of the IIA Global Internal Audit Standards and internal audit quality assessment methodologies.

• Strong understanding of regulatory expectations applicable to Internal Audit within large financial institutions .

• Experience performing quality assurance reviews, methodology reviews, self-assessments, external assessments, or regulatory reviews.

• Experience assessing audit issue quality, remediation effectiveness, and root cause analysis.

• Experience with quality metrics, data analytics, dashboard reporting, and continuous monitoring techniques.

• Proficiency with audit management and governance platforms such as TeamMate+, Archer, or similar tools.

• Relevant experience in financial services businesses, including Credit Risk, Regulatory Compliance, Operations, Treasury, Payments, Consumer Banking, Commercial Banking, Wealth Management, Model Risk, or Technology.

• Demonstrated ability to influence stakeholders and provide credible challenge while maintaining strong business relationships.

• Proven ability to adapt to changing priorities and regulatory expectations.

• This role requires working from a U.S. Bank location three (3) or more days per week.