This position will be responsible for supporting the Chief Risk Officer (CRO) in execution of audit functions and the development, implementation, and monitoring of internal controls.
- Works closely with the CRO in the ongoing identification and inventory of risk to the Company (enterprise level as well as operational, financial reporting and compliance risk).
- Identifies key risks (enterprise level as well as operational, financial reporting and compliance risk).
- Ensures appropriate mitigating controls are in place and operating for all key risks (i.e. underlying key controls).
- Works closely with internal and external auditors in key control identification, adequacy of underlying documentation and effectiveness testing.
- Serves as the primary intermediary with internal and external auditors related to internal control matters for the Company and works alongside auditors when onsite.
- Proactively provides guidance and training to control owners on issues affecting the Company’s internal control over financial reporting (ICFR) systems.
- Coordinate with Risk Management and process owners to identify risks and develop controls for new products and services as they are identified in the Corporate Risk Committee/New Product & Initiative Risk Assessment process.
- Continually evaluates the completeness and adequacy of internal controls documentation as processes and products change.
- Lead in the performance of periodic risk assessments to plan the Company’s audit activities and suggests changes in internal audit scope when necessary.
- Oversee quarterly internal control certification process and evaluate the impact of deficiencies identified on the overall ICFR certification.
- Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.
- Functions as a team and realizes all members of the team are vital to its success.
- Performs other duties as required.
Skills, Knowledge, and Abilities
- Strong understanding of the COSO Framework for evaluating internal controls and its interaction with generally accepted accounting principles (GAAP).
- Creativity in assisting control/process owners with the design of ICFR controls that appropriately mitigate risk without unnecessary operational burden or inefficiencies.
- Critical thinking and advanced analysis skills to identify internal accounting control attributes and advise on remediation.
- Excellent interpersonal, emotional intelligence, verbal, and written communication skills, primarily focusing upon the ability to listen and understand the perspective of the internal client, maintain professional composure and clearly articulate complex ICFR and accounting concepts to Risk Management, control owners, and the Audit Committee.
- Advanced knowledge of bank systems and operations, and the control attributes of systems that are critical to ICFR.
- Bachelor’s degree in Finance or Accounting, graduate degree a plus
- Minimum of 5 years work-related experience in internal or external financial institution auditing and financial reporting.
- Designation as a Certified Internal Auditor, Certified Bank Auditor, or Certified Public Accountant, etc. is preferred.