Audit Senior

Audit Senior - Employee Benefit Plans & Not-For-Profit Organizations



Position Overview

Our client is seeking a specialized Audit Senior to join their established CPA firm in Cranford, New Jersey, with a focus on Employee Benefit Plan (EBP) and Not-For-Profit (NFP) audit engagements. The ideal candidate will have demonstrated experience in these specialized audit areas and will lead fieldwork teams while ensuring compliance with ERISA, DOL requirements, and NFP accounting standards. This role offers the opportunity to work with a diverse portfolio of pension plans, 401(k) plans, health and welfare plans, and charitable organizations throughout New Jersey and the New York metropolitan area.

Key Responsibilities

Employee Benefit Plan Audits

• Plan and execute ERISA audits for defined benefit plans, defined contribution plans, 401(k) plans, and health and welfare plans
• Perform detailed testing of participant data, contribution calculations, benefit payments, and investment valuations
• Review plan document compliance and ensure adherence to ERISA fiduciary requirements
• Coordinate with plan administrators, third-party administrators, and investment custodians
• Prepare Form 5500 schedules and supplementary information required by DOL regulations
• Test compliance with plan provisions including eligibility, vesting, and distribution requirements

Not-For-Profit Organization Audits

• Lead audit engagements for charitable organizations, foundations, religious institutions, and other tax-exempt entities
• Apply specialized NFP accounting standards including ASC 958 and applicable government regulations
• Perform testing of restricted and unrestricted net assets, including donor compliance requirements
• Review functional expense allocations and program service reporting
• Evaluate internal controls specific to grant management and donor stewardship
• Prepare audited financial statements in accordance with NFP presentation requirements

Audit Leadership & Execution

• Supervise audit teams of 2-4 staff members during fieldwork at client locations
• Develop and modify audit programs to address specific risks in EBP and NFP environments
• Perform analytical procedures and substantive testing appropriate to specialized audit areas
• Document audit procedures and conclusions in compliance with GAAS and firm quality standards
• Coordinate audit timing and logistics with plan sponsors, administrators, and NFP management

Client Service & Communication

• Serve as primary day-to-day contact with client personnel during audit engagements
• Communicate audit findings and recommendations to management and boards of directors
• Prepare management letters addressing internal control deficiencies and operational improvements
• Assist clients with regulatory compliance questions and implementation of new accounting standards
• Build professional relationships that support client retention and service expansion

Staff Development & Quality Control

• Train junior staff on specialized EBP and NFP audit procedures and regulations
• Review work performed by audit staff, providing technical guidance and feedback
• Mentor team members on professional development and career advancement opportunities
• Support firm training initiatives on specialized audit topics

Required Qualifications

Education & Certification

• Bachelor's degree in Accounting required
• CPA license required (New Jersey or reciprocal state)
• Continuing education in employee benefit plan and not-for-profit auditing preferred

Specialized Experience

• Minimum 3-5 years of audit experience with significant exposure to EBP and NFP audits
• Demonstrated experience with ERISA audit requirements and DOL regulations
• Knowledge of ASC 958 (Not-for-Profit Entities) and related accounting standards
• Experience with Form 5500 preparation and DOL filing requirements
• Familiarity with various retirement plan types including 401(k), defined benefit, and profit-sharing plans

Technical Proficiencies

• Proficiency in audit software (CaseWare, TeamMate, Engagement, or similar)
• Experience with EBP-specific software and testing tools
• Knowledge of ERISA reporting requirements and compliance testing
• Understanding of investment valuation and fair value measurement for plan assets
• Familiarity with grant accounting and restricted fund reporting for NFPs

Core Competencies

• Strong analytical skills with attention to regulatory compliance details
• Excellent written and verbal communication abilities
• Ability to explain complex regulatory requirements to clients
• Leadership skills with experience supervising audit teams
• Professional demeanor when interacting with plan participants and donors

Preferred Qualifications

• Master's degree in Accounting or related field
• Additional certifications such as QKA (Qualified 401(k) Administrator) or CPA-PFS
• Experience with governmental auditing standards and single audits
• Knowledge of IRS determination letter processes and plan qualification requirements
• Familiarity with health and welfare plan audits including medical, dental, and disability plans
• Experience with large corporate retirement plans and multi-employer plans

Specialized Industry Knowledge

Employee Benefit Plans:

• Understanding of fiduciary responsibilities under ERISA
• Knowledge of plan administration systems and recordkeeping requirements
• Experience with actuarial valuations and pension accounting
• Familiarity with prohibited transaction testing and party-in-interest considerations

Not-For-Profit Organizations:

• Understanding of donor restrictions and endowment accounting
• Knowledge of grant compliance and federal award management
• Experience with fundraising event accounting and pledge recognition
• Familiarity with tax-exempt status requirements and unrelated business income

Compensation & Benefits

We offer a competitive compensation package including:

• Annual salary range based on education and experience
• Performance-based annual bonus
• Comprehensive health benefits (medical, dental, vision)
• 401(k) retirement plan with company matching
• Paid time off, sick leave, and holidays
• Professional development and specialized training reimbursement
• Flexible work arrangements outside of busy season