Job Description

SUMMARY: The Internal Audit Director is responsible for developing and implementing the annual audit plan, ensuring compliance with regulatory requirements and internal control frameworks. This role involves overseeing audit engagements, managing the internal audit team, and communicating findings to senior management and the board of directors. The Director also collaborates with key stakeholders to enhance risk management, governance processes, and operational efficiency within the organization.

RESPONSIBILITIES: • Collaborate with the Chief Risk and Audit Executive and CPA Firm to prepare the annual audit risk assessment, evaluating residual risk levels and trends. • Develop and implement the annual audit plan for the organization, ensuring alignment with the bank's strategic objectives and regulatory requirements. • Oversee the execution of audit engagements, including planning, fieldwork, reporting, and follow-up to ensure compliance with established internal control frameworks and industry standards. • Manage and mentor the internal audit team, providing guidance, training, and performance evaluations to enhance their skills and effectiveness. • Collaborate with senior management and the board of directors to communicate audit findings, risk assessments, and recommendations for improving internal controls and operational efficiency. • Evaluate the adequacy and effectiveness of the bank's risk management, control, and governance processes. • Ensure the internal audit function adheres to relevant regulatory requirements, professional standards, and best practices. • Conduct special investigations and audits as requested by senior management or the board of directors. • Monitor emerging risks and trends in the banking industry and adjust the audit plan accordingly to address potential impacts on the organization. • Foster a culture of continuous improvement within the internal audit department, incorporating new technologies and methodologies to enhance audit effectiveness and efficiency. • Coordinate with external auditors and regulatory examiners to facilitate their reviews and ensure alignment of audit activities. • Prepare and present comprehensive audit reports to the audit committee, senior management, and other stakeholders, highlighting key findings, risks, and action plans. • Develop and maintain strong working relationships with key stakeholders, including business units, compliance, risk management, and external auditors. • Ensure timely follow-up on audit recommendations to ensure remediation of identified issues and continuous improvement in internal controls. • Maintain up-to-date knowledge of regulatory changes, industry developments, and best practices in internal auditing.

REQUIREMENTS: • Bachelor’s degree in Accounting, Finance, Economics or related business discipline preferred • 7+ years’ experience within internal audit or external audit • Active CPA or CIA preferred • Knowledge of Banking, deposit and lending regulations strongly preferred

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