Internal Auditor

Description/Job Summary

The Internal Auditor positions help achieve the Internal Audit department's objective to provide independent, objective assurance and consulting services that are designed to add value and improve Farm Credit Illinois' operations. The Internal Auditor is learning the audit function, performs small audits or functions of larger audits and works under supervision.

Responsibilities/Duties

Internal Credit Review

• Performs credit administration reviews by reviewing the credit quality accuracy and credit administration compliance of loans against FCA regulations and Farm Credit Illinois policies and procedures in credit and operations
• Identifies and documents deficiencies and determines the root cause of deficiencies

Internal Control over Financial Reporting

• Tests the design and operating effectiveness of controls identified as "key controls" that have an impact on financial reporting
  
• Tests associated key reports and key spreadsheet of key controls
  
• Identifies and reports control deficiencies to control owners and management.
  
• Performs remediation testing once control deficiencies have been remediated by management

Operational Audits

• Performs operational audits of areas of the Association as defined by the annual audit plan, ensuring that audits are completed in a timely, accurate, and consistent manner
• Documents audit testing through comprehensive workpapers, audit programs, and risk assessments
• Audits the areas for compliance with laws, regulations, and Farm Credit Illinois policies and procedures
• Documents exceptions and determines the root cause of exceptions. Uses professional judgement to determine materiality of issued exceptions
• Creates draft audit reports including reporting of any noted findings and associated recommendations

Communication

• Communicates with auditees throughout the audit process to ensure understanding of audit areas
• Communicates audit findings and recommendations to appropriate parties and follows-up with auditees to determine that recommendations are implemented
• Communicates audit results to auditees, management, and the Audit Committee

Development

• Identifies and completes development activities

Other

• Works with external auditors and regulators as necessary
• Actively participates in Internal Audit team meetings and continually looks for ways to improve the Internal Audit Department through providing and receiving of feedback
• Performs other duties as assigned

Data Security and Confidentiality

• Appropriately protects the confidentiality, security, and integrity of the Association's systems and data and clients' data

Other responsibilities may include:
Training

• Provides training to team members through information sharing, small group discussions, idea exchanges, job shadowing and mentoring
• Determines topics and delivery method of trainings

Reviewing

• Reviews Internal Audit staff member work including reports prepared for internal credit reviews, internal credit review tickets, reports prepared for operational audits, and workpapers for operational audits
• Provides ideas and shares feedback

Required Skills

• General knowledge of general audit requirements and principles
• General knowledge of the International Standards for the Professional Practice of Internal Auditing Standards and the International Professional Practices Framework
• General knowledge in credit extension and credit administration
• General knowledge of COSO framework, GAAP, and regulatory requirements for financial institutions
• General knowledge of regulatory requirements related to Internal Control over Financial Reporting
  
• Skill in utilizing a systematic approach to problem solving
  
• Skill in utilizing Microsoft Word, Excel, PowerPoint and Outlook for efficiency and effectiveness
  
• Skill in having perception of different dimensions of business issues
  
• Skill in making sense out of complex issues
  
• Skill in being decisive and flexible to change
  
• Skill in preparing and presenting information to an audience in an engaging and effective way
  
• Ability to use multiple technology platforms
  
• Oral and written communication skills sufficient to discuss a variety of job-related topics, and to effectively communicate complex topics to a variety of audiences
  
• Ability to multitask and work on varying engagements concurrently

Required Experience

Bachelor's degree in accounting, agriculture business, or finance

1 year of experience related to audit, internal controls, policies and procedures or credit administration

or equivalent education, experience, and skillset sufficient to perform the essential functions of the job

Preferred Qualifications

CPA or CIA preferred.