Officer: EVP
Division: Executive
Department: Executive
Reports to: Audit Committee / CEO
FLSA: Exempt
Grade: 17
Pay Range: $230,000 - $350,000
Actual compensation within the pay range will be determined based on factors including, but not limited to, skills, prior relevant experience, and specific work location.
Location: Boston, MA - 131 Clarendon Street
Purpose/Objective:The Chief Internal Audit Officer is responsible for the oversight of the Company's third line of defense, Internal Audit. This role is responsible for preparing and implementing a risk-based audit plan in accordance with COSO and IIA guidelines to assess, report on, and make suggestions for improving the Company's key operational, compliance and finance activities and internal controls. This role manages all aspects of the Company's Internal Audit policies, practices, and programs in line with the Company's mission and values.
This position requires discretion and tact in handling confidential and sensitive information relating to overall Beacon Financial Corporation and Beacon Bank & Trust policies and operations, specific divisions and departments, personnel, and/or clients. Auditors must remain independent from management and operational duties while exercising significant professional judgment regarding the interpretation of issues and requirements in an environment of change and complexity.
Key Accountabilities:- Accountable for the development and coordination of the Company's internal auditing activities. Develops and implements internal auditing policies, procedures, and programs. Surveys functions and activities in assigned areas to determine the nature of operations, compliance, and adequacy of the system of control to achieve established objectives. Advises top management and the Audit Committee of the Board of Directors on audit and internal control matters and recommends improvements.
- Prepares and executes an annual audit schedule that is approved by the Audit Committee.
- Prepares and reviews work papers as well as prepares written reports of audit activities for the Audit Committee.
- Responsible for the overall preparation and delivery of materials for the Audit Committee meetings. May include but not be limited to taking meeting minutes.
- Acts as a liaison with federal regulators as necessary.
- Coordinate activities with external auditors as necessary.
- Responsible for the oversight and administration of the Anonymous Reporting Line of the Company at the direction of the Audit Committee. Partners with business line leaders such as legal, compliance, HR, etc. to investigate anonymous reports.
- Identifies and communicates changes in professional standards, pronouncements, laws, guidelines and audit requirements to department personnel and the Audit Committee as necessary.
- Leads the team through regular quality assessments, including periodic external quality assessments.
- Manages and develops a talented team of audit professionals, utilizing outside experts as necessary.
- Attends, presents and/or participates in continuing professional education classes and training courses.
- Responsible for the oversight and adherence to the internal audit financial budget.
- Serves as a non-voting member of several Management Committees.
Education:- BS degree in Accounting, Financial Management or Business Administration; MBA preferred
- Certified Internal Auditor, Certified Public Accountant, Certified Fraud Examiner and/or Certified Information Systems Auditor preferred
Experience:- 10+ years of progressively more responsible experience in a banking or financial services environment (Internal Audit, Risk Management, Compliance and/or Loan Review)
- 10+ years demonstrated effective team management.
Skills & Knowledge:- Demonstrated ability to develop and implement an organized, productive, structured, and disciplined methodology to accomplish results
- Strong analytical skills, including the ability to define problems, collect data, establish facts, and draw valid conclusions
- Strong technical internal audit skills, including:
- Knowledge of financial services compliance regulations including Bank Secrecy Act/Counter-Terrorism Financing
- Advanced knowledge of regulatory reporting rules, their interpretation and application in the financial services industry, including Sarbanes-Oxley Act / ICFR requirements
- Proficiency in technology and technology audit techniques including data analytics and artificial intelligence
- Strong communication (verbal/ written) and management skills. Ability to interact comfortably with all levels of staff and the Board of Directors
- Strong influencing and negotiation skills
- Passion to help improve operations and controls across the organization
- Ability to act independently and use sound judgment
- Demonstrated ability to maintain independence in thought and action
