Bank Internal Auditor Job Description, Duties, and Responsibilities

By | October 10, 2023
Bank Internal Auditor Job Description
Bank Internal Auditors ensure improvement on the effectiveness of a bank’s risk management and control processes, etc.

This post provides detailed information on the bank internal auditor job description, including the key duties, tasks, and responsibilities they commonly perform.

It also highlights the major requirements you may be expected to fulfill to be hired for the bank internal auditor role by most employers/recruiters.

What Does a Bank Internal Auditor Do?

A bank internal auditor is responsible for performing objective, independent, and reliable assessments of the effectiveness of a bank’s risk management activities, its compliance with applicable regulations, and its internal control-environment.

The bank internal auditor job description entails improving the bank’s operations and ensuring it complies with major regulations by carrying out thorough assessment and improvement on the effectiveness of the bank’s control, risk management, and governance processes.

The internal auditor takes responsibility for all audit project management activities of the bank, as well as for planning, developing, and scoping the audit test plan.

His/her role also involves ensuring assignments are completed within budget by effectively organizing and applying resources.

He/she is also expected to document processes by applying narratives, process maps, and flowcharts; and perform analysis of process documentation to assess the efficiency and effectiveness of a process.

The bank internal auditor is also responsible for resolving material issues with senior management, reporting audit results, and giving relevant recommendations.

He/she also acts as an advisor to bank management by developing strong knowledge and understanding of the bank’s business strategies, each of its lines of business, and the particular process or area under review.

He/she is also expected to have deep knowledge of the bank, its operations, procedures, and policies, including the laws and regulations which guide its operations.

The internal auditor’s duties as an advisor also entail conferring with management on issues such as the creation of monitoring techniques, risk management, and internal controls.

It also involves suggesting the inclusion of risk management in the implementation of new processes and systems, as well as in carrying out changes to existing procedures and systems.

The bank internal auditor work description also involves providing assistance to assigned bank examiners and external auditors, and ensuring that their examinations are completed efficiently and promptly.

It also entails assisting in the training and cross training of junior team members to help them develop the right skills to carry out the required audit coverage.

To remain effective as an internal auditor of a bank, the individual must continue to develop internal audit skills.

He/she must also continue to take and complete relevant continuing education and professional certification programs develop needed fresh skills and competence.

He/she must remain abreast of best practices, new developments, and current trends in the audit profession; and keep an eye on new technologies and their applications.

Bank Internal Auditor Job Description Example/Sample/Template

The bank internal auditor performs various duties, tasks, and responsibilities in assisting senior management and the board of directors in ensuring improvement in the bank’s operations.

Shown below is an example of the bank internal auditor job description, consisting of typical functions of the role in most organizations:

  • Examine and evaluate the effectiveness and adequacy of the internal control systems
  • Perform review of the effectiveness and application of risk assessment methodologies and risk management procedures
  • Review financial and management information systems, including the electronic banking services and electronic information system
  • Review financial reports and accounting records for accuracy and reliability
  • Perform review of means, techniques, or methods of safeguarding assets
  • Perform review of system applied by the bank in evaluating its capital vs estimated risk
  • Perform evaluation of the economy and operational efficiency
  • Perform test on both the functioning of specific internal control procedures and transactions
  • Perform review on established systems for ensuring codes of conduct, compliance with regulatory and legal requirements, and the implementation of procedures and policies
  • Perform special investigations; and carry out tests on the timeliness and reliability of the regulatory reporting.

Requirements – Skills, Abilities, and Knowledge – for Bank Internal Auditor Role

To be hired for the role of an internal auditor in a bank, you may be required to possess the following qualities, skills, knowledge, abilities, etc. by most recruiters:

  • Possess Bachelor’s degree in the accounting field, or in a business or related discipline. Possessing related experience and equivalent education may also be accepted to work as a bank internal auditor
  • Two years experience working in the banking or auditing field, or in an area relevant to the assigned responsibilities
  • Deep understanding of the concept of process and risk management; and banking and auditing
  • Strong decision making, communication, and interpersonal skills
  • Strong working knowledge and ability to use MS Office and other standard software application tools
  • Strong aptitude for easy and quick learning of audit, analytical, or/and facilitation skills
  • Possess CPA
  • Ability to travel at short notice, including travelling overnight.


If you are looking to hire an internal auditor for your bank and need to make a good description for the position, this post, including the sample job description provided will help you in making one.

With a good job description that clearly defines the duties and responsibilities of the internal auditor in your bank you will be able to attract the best candidates to your company.

This post will also help job seekers and those interested in developing a career in the internal auditing field in the banking sector to learn all they need to about what the role requires.

They will therefore be more knowledgeable about what internal auditors do in the banks that they work for.