Vice President, Internal Audit And Review

Description/Job Summary

Take the next step in your career and act on this opportunity to join the quality team of a major agricultural lending institution! FCS Financial, part of the nationwide Farm Credit System, is a member of the largest agriculture lending cooperative in the United States today. At FCS, we seek individuals who share passion for agriculture, rural living and helping people achieve their goals and dreams!

FCS Financial is seeking an ambitious, collaborative, detail-oriented, and critical thinking leader for our Audit and Credit Review function. This high-level senior position manages the credit review program and conducts operational, financial, compliance and investigative audits. This position prepares formal Internal Audit and Review reports for the Audit Committee and Association management. Our successful candidate must have experience or knowledge in the following areas: Lending and Credit Underwriting, Audit Plan Development/Implementation; Compliance and Internal Control System Review including Internal Controls over Financial Reporting (ICFR); Loan Review; Reporting; and Leadership Skills.

FCS Financial's Central Office located in Jefferson City is the preferred location however, all other FCS Branch locations will be considered based on the candidates' qualifications and needs.

This position is open until filled.

Department: Risk Management

Reports To: Board of Directors Audit Committee and Chief Risk Officer

Supervises: Internal Audit & Credit Reviewers, Internal Controls (ICFR) Auditor & Credit Reviewer

The position is classified as Exempt under the Fair Labor Standards Act.

Responsibilities/Duties

Job Functions*

Percentage

Job Functions

35%

Audit Planning and Strategic Initiatives

• Provides organizational leadership and day-to-day management of the Internal Audit, credit review, and ICFR functions.
• Ensures effective allocation of resources to support the achievement of strategic objectives of the Internal Audit, credit review, and ICFR functions.
• Designs and develops an annual audit plan to appropriately address key and emerging risks, regulatory compliance requirements, and other expectations of senior management and the Board Audit Committee
• Implements and executes the audit plan to provide reasonable assurance regarding the adequacy, effectiveness, and efficiency of the Association's operations, reliability of financial reporting, safeguarding of assets, strategic planning, and compliance with applicable laws and regulations
• Coordinates and facilitates the Board Audit Committee meetings throughout the year
• Participates in leadership committees, meetings, teams, and projects in an advisory capacity at all levels of the association
• Maintains a collaborative working relationship with executive leadership and senior management throughout the association
• Develops, plans, and evaluates candidates for co-sourcing and outsourcing audits, identifying required knowledge and skill sets, and selecting qualified external auditors for completion of planned audits or special projects.
• Coordinates with external auditors (Farm Credit Administration, AgriBank, PwC, and other third parties) as necessary for audits and examinations across the association.
• Owns the development and maintenance of Internal Audit & review practices and methodology. This includes procedures to appropriately assess all functional areas of the business including specialized areas such as financial reporting and information technology.

15%

Compliance and Internal Control System Review, including ICFR

• Reviews and evaluates the effectiveness of the organizational internal control system, including Internal Controls over Financial Report (ICFR), and determines compliance with policies, procedures, General Financing Agreement (GFA) requirements, and regulatory requirements
• Evaluates operational efficiency and accuracy of financial information
• Serves as the ICFR Champion of the ICFR Program

20%

Loan Review

• Directs the lending and loan review aspects of the audit plan
• Creates loan review samples
• Evaluates risk identification and credit administration of loans against policies, procedures, GFA requirements, and regulatory requirements

15%

Reporting and Follow-Up

• Prepares and provides reports for all internal/outsourced audits and internal credit reviews to management and the Board of Directors Audit Committee, which includes scoping, results, conclusions, and recommendations.
• Identifies, documents, and reports deficiencies related to internal/outsourced audits, loan reviews, and ICFR testing to management and the Board of Directors Audit Committee.
• Manages corrective action tracking related to audit recommendations and reports the progress to the Board of Directors Audit Committee
• Reports the ICFR Program status to the Board of Director's Audit Committee

15%

Leadership

• Responsible for department administration
• Identifies training needs and develops audit & review staff by coaching, teaching, and providing training opportunities
• Displays leadership and positive collaboration with Association staff and external parties

n/a

Other duties as assigned to meet the needs of the organization.

* Essential Functions for this position consist of all items listed under any category that make up 5% or more of the job duties. This job description is subject to change without notice.

Required Skills

Minimum Qualifications

• Bachelor's degree in Business Administration, Finance, Accounting, Computer Science or a related field
• 5 years of lending or credit experience
• 5 years of experience in public accounting and/or relevant industry Internal Audit experience
• 3 years of supervisory experience
• Professional certification (CPA, CIA, CISA) preferred
• Or an equivalent combination of education and experience sufficient to perform the essential functions of the job

Required Knowledge and Skills

• Expert knowledge of Internal Auditing standards and processes and controls
• Advanced knowledge of Financial reporting, including Generally Accepted Accounting Principles and Generally Accepted Auditing Standards

• Expert knowledge of audit processes and plans
• Expert knowledge of business risk assessment processes and plans
• Advanced knowledge of ICFR/Sarbanes Oxley
• Advanced knowledge of lending and credit management
• Skill in using Microsoft technologies including e-mail, word and spreadsheet processing
• Skill in lending laws, regulations, and ag specific guidelines
• Skill in prioritizing assignments and utilizing time to complete work in an effective and efficient manner
• Skill in establishing and maintaining relationships with a variety of internal and external organizations and individuals
• 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
• Skill in utilizing Word/Excel/PowerPoint/Outlook to increase efficiency and effectiveness
• Responsible to appropriately protect the confidentiality, security, and integrity of the Association's systems and data and clients' data

Scope of Responsibilities:

Responsibility

Measure

Audit Reports

20 - 30 annually

Loan Review

500+ loans reviewed annually

Association Loan Volume

$5,500,000,000

Supervision

3-5 direct reports