Internal Audit Manager
SUMMARY: The Internal Audit Manager shall oversee the Internal Audit Department which is responsible for reviewing, auditing and testing the internal controls of the Credit Union designed to protect Credit Union assets, reduce fraud, monitor risks, and ensure compliance with all laws and regulations, working closely with outside consultants, auditors, examiners and internal departments. All audit reports and findings shall be reported to management and the Supervisory Committee. The Internal Audit Manager reports to the CEO/President and the Board appointed Supervisory Committee.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
1. Promote and maintain a positive image of Bay Federal at all times to all personnel, members, volunteers, vendors and the community.
2. Prepare the annual audit plan, using the enterprise risk assessment as a guide and independently design audit tests to measure, analyze and evaluate various areas of the Credit Union with the highest exposure and risk.
3. Manage all external audits, examinations and outsourced internal audits and provide feedback to senior leadership team on issues within their scope of responsibility. Manage responses to issues to ensure adequate action is taken to correct issue.
4. Continually monitor and audit Credit Union compliance with internal controls and Credit Union policies and procedures to ensure all Credit Union procedures, state and federal laws and regulations are followed.
5. Conduct investigations regarding allegations of fraud or dishonesty, material breach of Credit Union processes or illegal acts brought forth by employees, members or public.
6. Meets monthly with the Supervisory Committee and prepares an Internal Audit agenda and update for the meeting.
7. Conduct research, work independently and exercise independent judgment in order to provide evaluation and analysis of key Credit Union performance measures, as required in the audit plan.
8. Identify emerging risks and analyze internal controls and processes to minimize potential loss.
9. Re-prioritize projects, tasks and the audit plan at least quarterly to maximize effective return for use of resources. Allocate resources to balance audit focus between the following three areas: the effectiveness and efficiency of operations, reliability of financial reporting and compliance with applicable rules and regulations.
10. Work with the Technology team to assist in reviewing IT security and privacy controls.
11. Manage the anonymous email reporting system and encourage employees to report suspected misappropriations or fraud to internal audit.
12. Investigate all claims of fraud as reported by employees, breaches of Credit Union procedures, and other findings in routine reviews that where there is risk of significant loss to the Credit Union.
13. Independently manage and review monthly system reports of non-standard information, and report findings to Senior Management with detailed activities reported to the appropriate manager.
14. Possess thorough knowledge of Credit Union policies and procedures.
15. Periodically examine and audit work areas to ensure compliance with Credit Union policies and procedures related to state and federal laws and regulations.
16. Use independent discretion to review data regarding material assets, net worth, liabilities, capital, surplus, income, and expenditures.
17. Prepare reports for management concerning scope of audit, financial conditions found, and makes recommendations for correction where necessary.
18. While not responsible as the lead for Human Resources investigations related to employment law violations, may assist with such investigations as requested by Human Resources.
19. Oversee and monitor the work of direct employees.
20. Meet monthly with the Supervisory Committee to report results of the audit tests performed and findings.
21. Perform other duties as required by the Board of Directors and/or Supervisory Committee.
22. Provide investigative and analytical support to Senior Leadership Team as required or assigned.
1. Establishes the scope of authority and responsibility for direct reports.
2. Periodically meets with direct reports to establish individual and team performance goals to review, coach and monitor performance against goals, discuss significant operations issues and review staff training and development requirements. Establishes goals and measures to track the success of the department.
3. Promotes teamwork among staff to ensure work is performed in a collaborative manner and standards for excellent member service are achieved. Responds appropriately to member concerns.
4. Maintains effective communication with all management staff to ensure coordination and exchange of information for accomplishing Credit Union goals. Gathers and disseminates information to all areas/departments regarding policy and procedures changes, and other important issues involving assigned areas.
5. Analyzes the workflow of the team and continuously makes recommendations to the CEO for changes to improve efficiency and reduce risk.
6. Coordinates the orientation and training of new team members.
7. Conducts performance evaluations of direct reports and recommends merit increases, when applicable.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience:
• High School Diploma or equivalent required.
• Degree from a four-year college or university; or 3 to 5 years’ related experience and/or training or Equivalent combination of education and experience.
• Previous Audit Firm experience preferred.
• Certified Public Accountant preferred.
• Extensive knowledge and skills in Excel, Access, and Word.
• Ability to read and interpret documents such as compliance regulations, board policies, and operating procedures.
• Ability to speak effectively before Senior Management, Board of Directors, and Supervisory Committee.
• Ability to write reports and communicate effectively in written format.
• Ability to work with mathematical concepts such as probability and statistical inference.
• Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and stoop, kneel, crouch, or crawl.
For more information, please contact:
VP, Human Resources and Development