What are the responsibilities and job description for the Director Internal Audit position at Fort Bragg Federal Credit Union?
Purpose:
Responsible for the examination and evaluation of the adequacy and effectiveness of the credit unions’ system of internal controls. Advises on control deficiencies discovered during the course of reviews and audits. This position provides assistance and means for the Supervisory Committee to help fulfill its oversight role by providing an independent and objective appraisal of the effectiveness of the credit union’s compliance with credit union policies, procedures, and federal and applicable state regulations, including, but not limited to, the Bank Secrecy Act, OFAC, USA Patriot Act and other requirements.
Primary Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the minimum level of knowledge, skills and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and Training:
The ability to motivate or influence others is a material part of the job, requiring a significant level of diplomacy and trust. Obtaining cooperation (internally and/or externally) is an important part of the job and a high level of interpersonal skills are critical to the success of this position. Work frequently involves contacts requiring considerable discussion or problems, material presentations, and resolving issues impacting departments or divisions.
Other Special Skills and Abilities:
Responsible for the examination and evaluation of the adequacy and effectiveness of the credit unions’ system of internal controls. Advises on control deficiencies discovered during the course of reviews and audits. This position provides assistance and means for the Supervisory Committee to help fulfill its oversight role by providing an independent and objective appraisal of the effectiveness of the credit union’s compliance with credit union policies, procedures, and federal and applicable state regulations, including, but not limited to, the Bank Secrecy Act, OFAC, USA Patriot Act and other requirements.
Primary Duties and Responsibilities:
- Develops an audit plan for the Credit Union with input from management and approval of Supervisory Committee. Keeps Supervisory Committee informed of all activities.
- Ensures timely completion of all audit functions with minimum supervision.
- Manages credit union’s internal audit activities, policies and procedures.
- Prepares written and verbal reports of audit activities. Provides recommendations to accomplish actions required.
- Implements changes to audit procedures as directed by the Supervisory Committee.
- Serves as liaison with external auditors and regulatory examiners.
- Conducts independent audits and examinations of credit union records to ensure compliance with laws and regulations.
- Evaluates the effectiveness of internal controls and processes and make recommendations for improvements.
- Participates in interviewing and hiring of Staff Auditor. Directs work activity and provides training, coaching and mentoring of Staff Auditor.
- Conducts investigations of suspected fraud or irregularities within the credit union.
- Conducts investigations or special reviews at the request of President/CEO.
- Addresses member complaints directed to the Supervisory Committee from regulator.
- Obtains, analyzes, and appraises data as a basis for an informed objective opinion on the systems and activities being reviewed.
- As it relates to audit activities, confers with personnel within the credit union or external sources.
- Attends monthly Supervisory Committee meetings and provide audit comments to Chair.
- Other duties as assigned by the Supervisory Committee Chair and/or President/CEO.
- Must comply with the Federal Bank Secrecy Act, Anti-Money Laundering & Customer Identification Policy (BSA), the OFAC Policy and the Identity Theft Policy.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the minimum level of knowledge, skills and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and Training:
- Bachelor’s degree is required with a concentration in Accounting or Finance preferred. Advanced degree is a plus.
- A CPA or CCUIA certification is desirable.
- On an annual basis is required to complete mandatory Bank Secrecy Act, OFAC and Red Flag Identity Theft training.
- 5 or more years of public accounting and/or internal audit experience within financial institutions.
- 3 or more years management experience
- 3 or more years of experience with regulatory compliance with financial institutions is preferred.
The ability to motivate or influence others is a material part of the job, requiring a significant level of diplomacy and trust. Obtaining cooperation (internally and/or externally) is an important part of the job and a high level of interpersonal skills are critical to the success of this position. Work frequently involves contacts requiring considerable discussion or problems, material presentations, and resolving issues impacting departments or divisions.
Other Special Skills and Abilities:
- Excellent analytical and technical skills.
- Strong communication skills, both written and verbal, and the ability to explain and discuss complex topics.
- Strong working knowledge of financial accounting concepts and related regulatory compliance.
- In depth knowledge of BSA, USA Patriot Act, OFAC and all applicable deposit and lending regulations.
- Knowledge and experience with privacy regulations, data security risk mitigation concepts and IT control governance.