Internal Audit Officer

Job Type

Full-time

Description

POSITION SUMMARY

The Internal Audit Officer is responsible for administering the Bank's independent internal audit program and providing assurance regarding the effectiveness of internal controls, risk management practices, governance processes and regulatory compliance. This position develops and oversees the annual risk-based audit plan, coordinates external audit and independent review activities, oversees FDICIA testing and monitors corrective action plans to ensure identified risks are appropriately addressed.

The Internal Audit Officer serves as the primary liaison between management, external auditors, independent reviewers, regulators and the Audit Committee. This role provides independent assessments and recommendations regarding the Bank's control environment and reports audit results, emerging risks and remediation progress to executive management, the Audit Committee and the Board of Directors. While primarily focused on audit program oversight and governance, the position also performs selected audit procedures, testing and reviews based on risk assessments, regulatory requirements and organizational needs.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The essential functions include, but are not limited to the following:

Internal Audit Program Administration

• Conduct the annual audit risk assessment and develop the Bank's risk-based internal audit plan.
• Present the annual audit plan to the Audit Committee for review and approval.
• Maintain a comprehensive audit schedule to ensure required audits, reviews and testing activities are completed.
• Evaluate organizational risks and adjust audit coverage as necessary.
• Maintain audit policies, procedures and documentation standards.
• Ensure audit activities are conducted in accordance with regulatory expectations, industry standards and professional auditing practices.
• Monitor the effectiveness of the Bank's internal control framework and governance processes.

External Audit and Independent Review Oversight

• Coordinate all external audit, loan review and independent audit engagements.
• Develop annual schedules and testing plans for external audit and review activities.
• Serve as the primary point of contact for external auditors, independent reviewers and regulatory agencies.
• Coordinate audit requests, documentation gathering and management responses.
• Review audit reports, findings and recommendations for accuracy, completeness and risk significance.
• Ensure management responses and corrective action plans are appropriate and timely.
• Monitor progress and completion of external audit recommendations and corrective actions.

Internal Audit and Testing

• Perform internal audits and risk-based reviews of operational, financial, compliance and administrative functions.
• Conduct FDICIA testing to evaluate the design and effectiveness of internal controls over financial reporting and related processes.
• Coordinate FDICIA testing schedules, documentation, control assessments and management responses.
• Evaluate the design and operating effectiveness of key internal controls.
• Perform audit testing of operational processes, financial controls and regulatory requirements.
• Assess control deficiencies and recommend corrective actions.
• Conduct follow-up testing to validate remediation of previously identified findings.
• Perform special audits, investigations and projects as requested by management, the Audit Committee or the Board of Directors.

Findings Management and Corrective Action Monitoring

• Maintain a centralized tracking system for all audit findings, recommendations and management action plans.
• Monitor outstanding audit findings and follow up with management regarding remediation progress.
• Validate completion of corrective actions and document results.
• Escalate significant unresolved findings, control concerns and remediation delays to executive management and the Audit Committee.
• Prepare periodic reports summarizing audit findings, remediation status and risk trends.

Audit Committee and Board Reporting

• Prepare audit reports, dashboards and presentations for executive management, the Audit Committee and the Board of Directors.
• Present audit results, annual risk assessments, audit plans and remediation updates.
• Provide independent assessments of the Bank's control environment and risk management practices.
• Communicate emerging risks, audit trends and regulatory concerns affecting the organization.
• Support the Audit Committee in fulfilling its governance and oversight responsibilities.
• Attend Audit Committee meetings and Board meetings as required.

Regulatory and Advisory Support

• Assist management in preparing for regulatory examinations and independent audits.
• Monitor regulatory developments, accounting guidance and emerging industry risks.
• Provide recommendations to strengthen internal controls, operational efficiency and regulatory compliance.
• Participate in strategic initiatives, new products, systems implementations and process changes from an audit and control perspective while maintaining…