Internal Audit Officer

Description

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.

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

• 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.

• 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.

• 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.

• 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.

• 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…