Banking Officer/Internal Controls Auditor

Title: BO/Internal Controls Auditor

Department: Risk Management & Compliance

Reports To: CAO

Status: Exempt

Job Overview:

We are seeking a highly skilled and motivated Internal Auditor to join our dynamic team in our Risk and Compliance Department. As an Internal Auditor, you will play a pivotal role in ensuring the effectiveness of internal controls, proactive risk management, promoting good corporate governance, and ongoing process improvement initiatives. The successful candidate will collaborate with various departments across the bank to evaluate and enhance internal processes, quality control, identify potential risks, and contribute to the overall success of our organization.

Key Responsibilities:

1. Risk Assessment and Planning:
   • Conduct risk assessments to identify potential areas of concern.
   • Develop and execute risk-based audit plans to address identified risks.
   • Collaborate with key stakeholders to understand business processes and potential risk areas.
2. Internal Control Evaluation:
   • Assess the adequacy and effectiveness of internal controls.
   • Identify control weaknesses and provide recommendations for improvement.
   • Ensure compliance with regulatory requirements and industry best practices.
3. Audit Execution:
   • Manage third party consultants and conduct internal audits in accordance with established procedures and standards.
   • Evaluate the reliability and integrity of financial and operational information.
   • Review compliance with policies, procedures, and applicable laws and regulations.
   • Meet with regulators to present audits and answer findings.
4. Reporting and Communication:
   • Prepare clear and concise audit reports detailing findings and recommendations.
   • Communicate audit results to management and key stakeholders.
   • Collaborate with all bank departments to develop action plans for addressing identified issues.
   • Serve as point of contact for third party consultants and regulatory agencies.
5. Process Improvement:
   • Identify opportunities for process improvements and efficiency enhancements.
   • Provide recommendations to enhance controls and reduce operational risk.
   • Collaborate with process owners to implement suggested improvements.
6. Monitoring and Follow-up:
   • Monitor the implementation of audit recommendations.
   • Follow up on outstanding audit issues to ensure timely resolution.
   • Report on the status of audit recommendations to senior management and the Audit Committee.

Qualifications:

• Bachelor's degree in Accounting, Finance, Business Administration, or related field or equivalent work experience.
• 3 years audit compliance experience in a regulated financial institution.
• Possess a working knowledge of the Bank: its business processes; policies and procedures.
• Governance practices and regulatory obligations as it relates to internal controls.
• Ability to analyze business situations, determine applicable scenarios and choose the appropriate solution to the problem.
• Excellent organizational skills with the ability to manage and track multiple activities.
• Must be able to identify solutions and provide operational advice beyond standard control recommendations. Demonstrated critical thinking and analytical skills to include working within ambiguous and/or stressful situations. Flexibility and ability to change priorities quickly.
• Effective time management and ability to prioritize and manage multiple projects and priorities.
• Prioritize work so resources are devoted to areas of highest risk. Project management skills with the ability to manage an entire project. Ability to develop client relationships, handle multiple tasks and adapt to a changing environment.
• Strong communication skills.
• Relevant industry certification, or progress towards.

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