Job DescriptionUnder the direction of the chief audit executive, this position leads several key internal audit functions and provides leadership to assess adequacy of financial reporting, compliance with regulations, protection of assets, prevention of fraud, and operational efficiency. This includes developing and executing a comprehensive internal audit plan, supporting cross-corporate initiatives that improve management control systems, reporting audit findings and recommendations within the business areas to mitigate risk directly to the bank's audit & risk committee, liaising with the company's external audit firm, and helping to foster an appreciation for a strong control environment across the organization.
Responsibilities- Develops and executes audit strategy, planning, and communication of financial, compliance, and operational audits for assigned business units. Assists the corporate internal audit process to identify company risks and to evaluate management preparedness for those risks.
- Monitors changes in company policies and procedures, accounting and auditing standards, and industry practices and ensures that controls are appropriate and relevant for assigned business units. Develops internal audit processes to ensure audits are conducted according to generally accepted internal audit standards as defined by the Institute of Internal Audit (IIA). Oversees internal financial audits to ensure complete, accurate, timely, reliable, and relevant financial reporting information. Oversees operational audits to ensure control systems are in place to safeguard company's assets and that assets are employed with optimal economy and efficiency. Oversees compliance audits to ensure functional activities are conducted according to plans, policies, procedures, laws, and regulations.
- Assists in coordinating external consultants' engagements for audit augmentation. Works with the Chief Audit Executive and external auditors to coordinate Internal Audit's participation during the external engagements and to monitor management's corrective action of findings. Ensures that activities of the internal and external audit teams are aligned for coverage and efficiency.
- Works with management in identifying, establishing and monitoring departmental performance measurement benchmarks and standards. Participates in the evaluation of new processes, policies, and systems that improve organization efficiency and effectiveness or enhance risk mitigation activities. Responsible for interacting effectively and building working relationships with assigned business units and all levels of management.
- Prepares reports detailing effectiveness of internal controls, positive, and negative deviations from established benchmarks and the corrective action plan developed by management to rectify unfavorable deviations. Prepares materials for quarterly Audit & Risk Committee Meetings and assists with development and maintenance of the departmental budget.
- Ensures proficiency in and knowledge of the professional audit staff, including generally accepted internal auditing and accounting standards and changes in financial reporting requirements and in laws and regulations promulgated by governmental agencies. Reviews and improves internal audit processes and trains staff to significantly enhance efficiencies and conduct audits. Implements data analysis and data mining tools to enhance audits and establish continuous monitoring techniques.
- Responsible for the management of all assigned employees in the department including staffing, scheduling, compensation, performance management, training and development, and succession planning to effectively utilize group and individual capabilities and enhance individual/group development and performance. Responsible for the timely and effective management of Human Resources forms and documents relevant to immediate staff.
- Performs all other miscellaneous responsibilities and duties as assigned.
Qualifications- Bachelor's degree from an accredited institution or equivalent work experience.
- Minimum 12 years of audit experience or equivalent work experience, as well as in subject matter expert fields (e.g. retail, commercial, operations, compliance, technology, wealth, and broker/dealer). Professional designation in assigned areas; i.e., CIA, CPA, CISA, CFSA, CFIRS, CRCM preferred. Must possess well-developed understanding of audit techniques, in-depth knowledge of general banking activities and of subject matter fields.
- Demonstrated proficiency and expertise with personal computers and Microsoft applications (Outlook, Word, Excel, Access and PowerPoint) or similar software. Knowledge of or ability to use Bank software, including related business and audit software.
- Demonstrated verbal and writing communication skills. Knowledge of current accounting principles and practices, including internal control concepts. Demonstrated analytical, organizational and problem solving skills. Able to work in a team environment and successfully manage projects. Demonstrated leadership skills to train, develop and coach internal audit staff. Able to meet deadlines. Able to develop innovative solutions to improve business processes. Able to work flexible hours including holidays, weekends and evenings as necessary. Must be able to provide own transportation or to operate a vehicle with a valid driver's license, and commute as required. Travels by air as required.
