Menu

Career Advice

Top 9 IT Audit Exit Opportunities

Are you an IT Auditor looking to make a change in your career? IT Auditors can find lucrative job opportunities as Risk and ComplianceData Privacy Officer, or Cyber Security Consultant.

This blog post seeks to provide insight into the variety of options available for those seeking a career transition from IT Audit. It will also dive into how individuals can successfully transition sectors and ways they can enhance their skillset for potential employers.

Read on to learn about the best exit opportunities after an IT Audit career!

What is an IT Audit?

An IT audit is a process of analyzing and assessing the technological infrastructure of an organization to ensure processes, systems, software programs, and information structures are running accurately.

This type of audit plays a vital role in risk assessment as it ensures compliance with internal regulations as well as external standards.

IT Auditors analyze and assess details such as network architecture, risks associated with data security or privacy laws, computer-generated outputs used for decision making processes, manual versus automated data input controls and cyber security related problems.

By conducting an intensive review of the company’s IT operations and procedures, the auditor can provide unprecedented insight into how effective their overall operation is at achieving desired outcomes.

Conducting these audits on a regular basis helps companies improve efficiency while simultaneously reducing operational costs that can be generated from inaccurate control networks or poor user management practices.

With its importance in ensuring accuracy and security, today’s leading organizations recognize that investing in professional IT auditing services provides value not just for passing compliance requirements but competitive advantages far beyond accountability metrics.

Best IT Audit Exit Opportunities

You can explore the various IT audit exit opportunities, including Risk and Compliance, Cyber Security Consultant, Data Privacy Officer, Internal IT Auditor of industries, Operations Role in Financial Services among many others.

1. Risk and Compliance

Median Salary: $92,634 per year as per Salary.com. (All salaries listed in this article are for the US)

Risk and Compliance is one of top exit opportunities for IT Auditors. The main reason is that the skills and experience gained as an IT auditor directly translate to risk and compliance roles. As an IT auditor, you gain in-depth knowledge of internal controls, risk assessment, regulatory requirements, and compliance procedures. This makes you well-prepared to take on risk and compliance responsibilities after your auditing career.

Beyond relevant skills, risk and compliance roles offer IT auditors the opportunity to apply their knowledge more strategically with greater business impact:

  • Implement risk strategies – Rather than just evaluate risks, compliance and risk management enables auditors to develop and execute risk mitigation strategies.
  • Influence controls and processes – The ability to shape internal controls and compliance procedures is greater compared to just impartially auditing them.
  • Career development – Compliance or risk management roles provide viable pathways to senior positions like Chief Risk Officer or VP of Regulatory Compliance.
  • Business engagement – Much closer engagement with business leaders is required in risk jobs to understand needs and customize compliance efforts.
  • Change of pace – The more dynamic, variable work of risk and compliance provides higher motivation than the structured, repetitive nature of auditing.

Finally, these roles offer advantages like higher compensation, specialized focus areas, and greater impact that make it an appealing next step for IT auditors. The combination of matching skills, engaging work, and professional upside explains why risk and compliance is a prime exit opportunity.

2. Cyber Security Consultant

Median Salary: $115,864 per year as per Glassdoor.

A Cyber Security Consultant specializes in protecting businesses from cyber-attacks, data breaches and similar security risks. Working with clients to identify potential weaknesses that can be exploited by malicious actors, they implement solutions to keep their systems safe such as encryption technology or firewall set ups.

Often working remotely, this role requires up-to-date knowledge of the latest cybersecurity trends and techniques, which will help them stay ahead of evolving threats. Additionally they must have excellent communication skills as well as problem solving abilities in order to provide advice to clients on how best protect their data protection systems both internally and externally.

High demand for professionals within this field offers a variety of options for a successful career path; from independent consulting roles through enterprise organizations or even corporate IT departments.

3. Data Privacy Officer

Median Salary: $119,329 per year as per ZipRecruiter.

Data Privacy Officers are professionals in charge of safeguarding sensitive data and digital information. This role requires deep understanding of applicable laws, regulations and industry standards, as well as the technical knowledge to properly assess a company’s technology from a risk perspective.

With the increased prevalence of cyber-attacks and data breaches, organizations are now under heightened pressure to protect their systems and ensure compliance with privacy laws like GDPR (EU General Data Protection Regulation).

They take legal responsibility for ensuring proper storage, access control measures, encryption practices, and other security protocols are employed by their organization. As such, Data Privacy Officers must have excellent communication skills coupled with strong problem solving ability in order to collaborate with various teams throughout an organization when developing or implementing policy changes as needed.

4. Industries Internal IT Auditor

Median Salary: $88,425 as per Salary.com.

Industries Internal IT Auditors play an important role in ensuring security and compliance for organizations. These auditors are typically part of internal audit departments that serve as independent advisors to management, helping organizations maintain the highest standards of financial reporting, operational efficiency, risk management, contractual controls, data privacy and information security.

As an Auditor working in a large organization or industry such as health care or finance/banking – you will be responsible for developing test plans based on risk assessments; analyzing source systems; identifying control gaps; providing recommendations to mitigate those risks including policy & procedure changes; preparing reports and communicating these results effectively to senior leadership teams within the organization.

The skills required for this role include knowledge of information technology systems used by particular industries (e.g., medical records software), experience conducting audits on such systems under Sarbanes-Oxley regulations or equivalent laws governing various sectors such as banking — familiarity with policies governing protection of corporate assets especially confidential documents and high ethical business practices is critical here.

5. IT Operations Manager

Median Salary: $105,726 per year as per Glassdoor.

IT Operations Manager involves the streamlining of processes, equipment, and resources to optimize a company’s operations. Professionals in this field are responsible for monitoring system performance efficiencydeveloping strategies to reduce costs and improve security measures, as well as automating manual tasks.

This role requires technical knowledge of software systems along with an understanding of IT processes and organizational structures used within different industries.

Utilizing skills gained from experience in IT auditing can provide professionals a valuable place when transitioning into the field of IT operations management. These include evaluating risk factors associated with new projects or initiatives, analyzing existing technology solutions and proposing potential upgrades or replacements, managing budgets related to operational needs such as hardware purchases etc., understanding data protection regulation requirements for multi-region deployments just to name few.

6. Operations Role in Financial Services

Median Salary: $83,000 per year as per Salary.com.

There are several key reasons why an IT auditor can make a natural transition into operations roles within financial services:

  • Domain expertise – Through audits across banking, capital markets, insurance etc., auditors gain in-depth knowledge of financial services operations, systems, and processes. This expertise is highly applicable in ops roles.
  • Compliance background – Financial services operations must adhere to extensive regulations around security, privacy, reporting etc. The compliance knowledge auditors develop is invaluable in operationalizing controls.
  • Process improvement – Auditors are trained to identify process gaps or inefficiencies and recommend enhancements. These process optimization skills align well with improving bank/insurance operations.
  • Technical skills – Exposure to networks, applications, data centers during audits provides auditors technical knowledge relevant for technology-driven financial operations.
  • Risk management – Auditors are skilled in identifying and analyzing operational and technology risks. These risk assessment abilities help ops managers safeguard operations.
  • Leadership capabilities – Overseeing audit teams and assignments enables auditors to develop leadership traits like coaching, decision-making, problem-solving that aid operations management.
  • Career development – Operations roles allow auditors to diversify their experience and open pathways to senior leadership positions like COO or SVP Operations over time.

Overall, auditors’ specialized financial services knowledge, technical skills, risk abilities, leadership competencies and process focus make them well-suited for transitioning into operations roles in this industry. They can add significant value while also advancing their careers beyond traditional audit functions.

7. Data Analyst

Median Salary: $76,408 per year as per Indeed.com.

Data Analyst is an exciting opportunity for those wishing to explore the world of technology while developing their analytical skills. With technology transforming almost every aspect of life, knowing how to make sense out of this data and using it strategically is critical in a whole variety of industries.

As such, demand for data analysts continues to grow across fields including finance, consulting, retail, engineering and research amongst others.

As an IT audit exit option, Data Analysts are responsible for designing analytics systems that can analyze mountains of raw data from various sources and deliver meaningful insights.

This requires someone who understands both technical concepts as well as business needs and has strong interpersonal skills to work within teams which may contain people with different technical levels or backgrounds like developers and statisticians.

The ability to develop algorithms that look at patterns in large complex datasets also requires creativity in addition of sound knowledge about programming tools like Python or SQL.

Read More: Business Analyst Exit Opportunities: The Ultimate Career Path Guide

8. Project Manager

Median Salary: $95,370 per year as per The US Bureau of Labor Statistics.

While an auditor and project manager operate in different capacities, there are quite a few transferrable skills between the two roles:

  • Organization – IT auditors must be highly organized to manage audit plans, follow audit procedures, track issues, and report findings. These organizational skills enable strong project planning and execution.
  • Risk management – Assessing risks is a core duty of auditors. Understanding risk identification, analysis, and mitigation strategies helps project managers anticipate and address issues proactively.
  • Compliance knowledge – IT auditors gain extensive compliance understanding through audits. This helps ensure projects adhere to all applicable regulations and standards.
  • Detail orientation – Strong attention to detail is critical for auditors to scrutinize systems, transactions, controls etc. This translates well into managing project details and deliverables.
  • Communication – Report writing and presenting audit findings help auditors develop excellent communication skills. Clear communication is vital for project managers.
  • Analytical thinking – Auditors need analytical abilities to research issues, analyze data trends, and develop solutions. The same problem-solving skills enable successful project outcomes.

To transition successfully, an IT auditor should highlight their project exposure during audits, seek leadership opportunities on audits or teams, pursue project management training, and emphasize their transferable skills. With some preparation, an IT auditor can be well-positioned for a project management role.

9. Finance Roles

Median Salary: $93,664 as per Comparably.

IT Auditors with a strong accounting and finance background can transition to finance roles such as financial analyst, financial controller, or finance manager. These roles involve tasks such as financial planning, bookkeeping, auditing, taxes, data analysis, and financial reporting.

To pursue a career as a financial analyst or any other finance role within the IT audit field requires at least a bachelor’s degree in finance, economics, business management or related field.

Financial controllers oversee day-to-day operational aspects of the organization’s financial activities like preserving assets by instituting internal controls while managing investments to maximize returns.

Finance managers are responsible for providing direction on long-term financing strategies like analyzing new potential financing sources that could aid costs optimization etc., meanwhile adhering to relevant regulations and laws associated with money management.

How To Successfully Transition From IT Audit To Other Fields

With knowledge and dedication, you can successfully transition from IT audit to numerous other industries with the right networking methods and skills. Read further to discover the steps needed for a successful career switch!

Networking

In order to successfully transition from IT audit to other fields, networking is an essential and critical component. Building connections with relevant people in the industry will give you access to valuable information about job opportunities, promotions, and more.

Not only can networking help you identify new career pathways, but it can also offer valuable guidance on your journey there.

Developing industry specific knowledge by reading articles or participating in webinars could be beneficial when engaging with professionals in the field as this would enable meaningful conversations when networking online or off-line meetings.

Get certified in relevant domains

Obtaining relevant certifications can significantly help IT auditors transition successfully into the above top exit opportunities.

For example, for cybersecurity consultant roles, certifications like CISM, CISSP, CEH, and Security+ build credibility by showing deep technical cybersecurity skills. Data privacy officer roles are complemented by certifications like CIPP, CIPM, and CIPT that highlight privacy program management abilities.

Earning domain-specific certifications in the area an IT auditor is looking to transition into can validate specialized skills beyond just auditing and significantly improve one’s ability to successfully change roles. The certifications signal commitment and help hiring managers recognize candidates’ capabilities in new functions.

Emphasize transferable skills in resume and interview

When transitioning from an IT Audit career to other fields, it is important to make sure hiring managers are aware of your transferable skills. Transferable skills refer to both hard and soft abilities that you have developed in one field and can be used in any setting.

This includes problem-solving, analytical skill, communication, and relationship-building from the auditing role that can easily translate into another position or industry. It’s essential for working professionals transitioning out of their current roles to think about how they can leverage these transferable skills on their resumes and in interviews when applying for jobs outside their field.

For example, an IT auditor with strong administrative capabilities may have great success as a project manager; while one with exceptional interpersonal skills could transition well into a customer support role.

Follow industry trends and innovations in your target field

Staying up-to-date on the latest developments in your target field as an IT auditor is essential for a successful transition.

By staying informed of industry trends and innovations, IT auditors can ensure their skills remain relevant to employers and top players in the market—opening up new doors while exceeding expectations in the wave of technology developments.

Seek out a mentor in your desired field

Investing time and energy in finding a mentor to guide you throughout the transition process can be immensely beneficial, both personally and professionally. A mentor is someone experienced in the field who can offer helpful advice along your journey.

In addition, they can provide valuable industry insights which will help shape your career paths and goals. Mentors can also introduce you to their networks so you have access to even more resources such as job referrals or other contacts that could potentially advance your aspirations.

Finally, having a mentor encourages self-reflection and constructive feedback which is essential for improving personal development over time. All of these benefits position mentors as an invaluable asset during transitions between fields — especially when transitioning from IT audit roles into greater levels of responsibility in different departments or industries alike.

Be patient and persistent

When transitioning from IT audit to other fields, there are many obstacles and challenges ahead. Building a strong network and staying updated on industry trends can enhance the chances of a successful transition but it takes time.

Adapting to a different industry may require understanding new skills, so remaining patient is essential for success in this endeavour. Understanding how to apply your analytical skillsets gained through an IT audit career helps bridge the gap between them when deciding what roles would be best suited for your talents.

Conclusion

Making the switch from an IT audit career to a different role can be daunting, but with dedication and preparation it is an achievable task. IT Audit exit opportunities like Risk and Compliance, Cyber Security Consultant, Internal Auditor specializing in IT operations or Data Privacy Officer are available for skilled professionals coming out of IT Audit. That said, there truly are many job opportunities for auditors interested in transitioning into other fields.

About Author

Founder of Eggcellentwork.com. With over 20 years of experience in HR and various roles in corporate world, Jenny shares tips and advice to help professionals advance in their careers. Her blog is a go-to resource for anyone looking to improve their skills, land their dream job, or make a career change.

No Comments

    Leave a Reply