AVP Internal Audit
DescriptionSUMMARY OF POSITION:
The AVP Internal Audit is responsible for:
managing and coordinating financial and operational Internal Audit Services to evaluate the design and operation of systems and controls established to protect the assets of Tower Federal Credit Union, ensuring testing for compliance with laws and regulations, and promoting audit department efficient operations.
The Internal Audit Department measures and evaluates the effectiveness of organizational controls over assets and verifies operations are in compliance with state, federal and NCUA regulations as well as TFCU policies and procedures.
In addition, the incumbent is responsible, on a secondary level, for specific functional legal/regulatory compliance, as outlined in the Principal Accountabilities and Functions and/or included in an Addendum to the position description.
PRINCIPAL ACCOUNTABILITIES AND FUNCTIONS:
Assigns and manages audits/projects of the department to evaluate the design and operating effectiveness of systems and controls which protect the assets of Tower Federal Credit Union, ensure compliance with laws and regulations, and promote operational efficiency.
Manages audit projects to make certain the level of performance consistently meets or exceeds the service standards set for a fully trained, motivated and professional operating unit.
Responsible for assessing control implications of projects and action items assigned in furtherance of Towers strategic plan, and other projects as assigned and reviewed by the Vice President/Director, and in his absence the Supervisory Committee.
Responsible for selecting and hiring, identifying and documenting performance deficiencies, coaching employees, instituting development plans, taking remedial actions when appropriate, and monitoring the achievement of their development plans.
Keeps current on new audit and investigative techniques, methods and ideas as well as laws and regulations in the financial institution industry by attending training classes, professional meetings and reading of professional periodicals available.
Assists in the development and the implementation of semi-annual audit plans in conjunction with the Director.
Ensures audit programs include testing of compliance with appropriate laws and regulations as well as tests of compliance with TFCU policies and procedures
Assists in performing organizational risk assessments that include changes in the credit unions operating environment and/or strategic direction.
Identifies needed resources to effectively staff the department and anticipate expenses, prepares the cost center annual budget for review and authorization by the Director, the Supervisory Committee, President/CEO, and Board of Directors; manages expenses consistent with established Tower policy and procedures.
Responsible for ensuring proper work papers and documentations are completed for audits, safeguarded, and that the results are communicated to appropriate members of management.
Partners and consults with management by identifying opportunities to mitigate risks in major business process segments or workflows.
Contributes to the growth of TFCU by (a) making appropriate recommendations, that (1) provide preventative or detective controls to safeguard assets and minimize the risk of loss or fraud and (2) that improve efficiency and effectiveness of operations and (b) by reviewing new functions, systems or products being implemented in the credit union and making appropriate recommendations for internal controls.
Maintains professional licensure active by ensuring annual CPE credit requirements are met.
Determines data analysis requirements of Internal Audit and develops applications or coordinates requirements with Information Services as appropriate.
Examples include:
Fee reversals/waivers outside product design or internal policy;
Interest rates not in accordance with approved rates,
Transactions not in accordance with related regulations or internal policy, or
Identification of unusual transactions or other anomaliesProvides timely results of data mining with analyses to appropriate Internal Audit staff for their follow up regarding relevant audits or inquiries.
Accepts either primary or secondary responsibility for specific legal and/or regulatory compliance activities.
This responsibility may include, but not be limited to, a range of actions (e.
g.
:
compliance monitoring and reporting, developing materials and communications, serving as liaison to external authorities, providing education to employees, conducting audits, participating in training updates, etc.
) as determined by the position level or delegated authority from Senior Management or the Board of Directors.
REQUIRED
Qualifications:
Bachelor's degree, preferably in Accounting, Finance or Information Systems
(4) years of supervisory experience planning, leading, evaluating the work of assigned technical staff
Successful programs/project management experience
Professional certification(s) (CPA, CIA, CISA, CFE) requiredCOMPETENCIES:
Ability to evaluate design of system of controls
Proficient with PC in a Microsoft Windows environment to include Microsoft Office applications (Word, Excel)
Ability to apply concepts of fractions, percentages, ratios and proportions to practical situations
Ability to create, edit and format word processing and spread sheet documents using formulas and data tools, including graphs
Ability to enter data, sort and extract information from database systems
Ability to efficiently operate a PC in an Internet environment
Ability to read, analyze and interpret general business periodicals, professional journals, technical procedures and government regulations.
Ability to write reports communicating results of audits, business correspondence, and procedure manuals.
Ability to provide explanation or instruction in one-on-one situations with members or employees either in person or over the phone.
Ability to effectively present information and respond to questions from management, groups of peers or members.
Ability to write, read and interpret procedure manuals (operations and technical)
Ability to read, analyze and interpret business periodicals, professional journals, technical procedures, statistical reports and government regulations
Ability to exchange information in one-on-one situations with employees
Ability to convey/present information effectively to groups, with varying degrees of experience, and to respond to questions from a diverse audience
Ability to solve problems with many concrete variables in a variety of situations where only limited standardization exists
Ability to define problems, collect data, establish fact and draw valid conclusions
Ability to focus on detail and verify accuracy of numbers and text
Ability to interpret a variety of technical instructions
Ability to develop cost-beneficial recommendations to reduce operational risk, improve level of compliance with regulations, or improve operating efficiency.
Ability to troubleshoot and resolve member and staff issues/problems
Ability to prioritize diverse job assignments and meet established deadlines
Ability to prioritize tasks and complete daily job assignments while participating on project teams
Ability to supervise work of staff and organize workload to accommodate competing demands.
Able to effective work under stress
Able to arrive at work routinely and promptly
Ability to resolve controversial or delicate matters skillfully
Ability to respond to sensitive inquiries and complaints in a timely, effective manner
Ability to maintain sensitive and confidential information
Ability to interact effectively with colleagues and supervisors
Ability to project a professional image to outside vendors, auditors and regulators
Ability to coach and motivate others to take action
Ability to provide constructive feedback to others
Ability to work productively and professionally under stress
Ability to provide excellent customer service
Ability to determine needs and sell solutions to others
Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC.
WORKING CONDITIONS:
Must be able to secure and retain appropriate security clearance(s) and access to designated facilities to perform the principle accountabilities and functions of the position.
Must be able and available to work variable hours and schedules to conduct/deliver/counsel employees via individual and group sessions both at on site and other locations
Must have sufficient sight and personal mobility to independently perform all key accountabilities without requiring regular (usual work day) assistance from the Director of Internal Audit.
RCA Security Clearance
Ability to sit, stand and walk for extended periods and demonstrate sufficient dexterity and vision to operate a variety of office equipment.
Ability to lift up to 15 lbs with or without assistance.
Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate.
This position description is not necessarily all inclusive in terms of work detail.
Recommended Skills Audio Equipments Auditing Bank Secrecy Act Business Correspondence Business Efficiency Business Processes Estimated Salary: $20 to $28 per hour based on qualifications.
The AVP Internal Audit is responsible for:
managing and coordinating financial and operational Internal Audit Services to evaluate the design and operation of systems and controls established to protect the assets of Tower Federal Credit Union, ensuring testing for compliance with laws and regulations, and promoting audit department efficient operations.
The Internal Audit Department measures and evaluates the effectiveness of organizational controls over assets and verifies operations are in compliance with state, federal and NCUA regulations as well as TFCU policies and procedures.
In addition, the incumbent is responsible, on a secondary level, for specific functional legal/regulatory compliance, as outlined in the Principal Accountabilities and Functions and/or included in an Addendum to the position description.
PRINCIPAL ACCOUNTABILITIES AND FUNCTIONS:
Assigns and manages audits/projects of the department to evaluate the design and operating effectiveness of systems and controls which protect the assets of Tower Federal Credit Union, ensure compliance with laws and regulations, and promote operational efficiency.
Manages audit projects to make certain the level of performance consistently meets or exceeds the service standards set for a fully trained, motivated and professional operating unit.
Responsible for assessing control implications of projects and action items assigned in furtherance of Towers strategic plan, and other projects as assigned and reviewed by the Vice President/Director, and in his absence the Supervisory Committee.
Responsible for selecting and hiring, identifying and documenting performance deficiencies, coaching employees, instituting development plans, taking remedial actions when appropriate, and monitoring the achievement of their development plans.
Keeps current on new audit and investigative techniques, methods and ideas as well as laws and regulations in the financial institution industry by attending training classes, professional meetings and reading of professional periodicals available.
Assists in the development and the implementation of semi-annual audit plans in conjunction with the Director.
Ensures audit programs include testing of compliance with appropriate laws and regulations as well as tests of compliance with TFCU policies and procedures
Assists in performing organizational risk assessments that include changes in the credit unions operating environment and/or strategic direction.
Identifies needed resources to effectively staff the department and anticipate expenses, prepares the cost center annual budget for review and authorization by the Director, the Supervisory Committee, President/CEO, and Board of Directors; manages expenses consistent with established Tower policy and procedures.
Responsible for ensuring proper work papers and documentations are completed for audits, safeguarded, and that the results are communicated to appropriate members of management.
Partners and consults with management by identifying opportunities to mitigate risks in major business process segments or workflows.
Contributes to the growth of TFCU by (a) making appropriate recommendations, that (1) provide preventative or detective controls to safeguard assets and minimize the risk of loss or fraud and (2) that improve efficiency and effectiveness of operations and (b) by reviewing new functions, systems or products being implemented in the credit union and making appropriate recommendations for internal controls.
Maintains professional licensure active by ensuring annual CPE credit requirements are met.
Determines data analysis requirements of Internal Audit and develops applications or coordinates requirements with Information Services as appropriate.
Examples include:
Fee reversals/waivers outside product design or internal policy;
Interest rates not in accordance with approved rates,
Transactions not in accordance with related regulations or internal policy, or
Identification of unusual transactions or other anomaliesProvides timely results of data mining with analyses to appropriate Internal Audit staff for their follow up regarding relevant audits or inquiries.
Accepts either primary or secondary responsibility for specific legal and/or regulatory compliance activities.
This responsibility may include, but not be limited to, a range of actions (e.
g.
:
compliance monitoring and reporting, developing materials and communications, serving as liaison to external authorities, providing education to employees, conducting audits, participating in training updates, etc.
) as determined by the position level or delegated authority from Senior Management or the Board of Directors.
REQUIRED
Qualifications:
Bachelor's degree, preferably in Accounting, Finance or Information Systems
(4) years of supervisory experience planning, leading, evaluating the work of assigned technical staff
Successful programs/project management experience
Professional certification(s) (CPA, CIA, CISA, CFE) requiredCOMPETENCIES:
Ability to evaluate design of system of controls
Proficient with PC in a Microsoft Windows environment to include Microsoft Office applications (Word, Excel)
Ability to apply concepts of fractions, percentages, ratios and proportions to practical situations
Ability to create, edit and format word processing and spread sheet documents using formulas and data tools, including graphs
Ability to enter data, sort and extract information from database systems
Ability to efficiently operate a PC in an Internet environment
Ability to read, analyze and interpret general business periodicals, professional journals, technical procedures and government regulations.
Ability to write reports communicating results of audits, business correspondence, and procedure manuals.
Ability to provide explanation or instruction in one-on-one situations with members or employees either in person or over the phone.
Ability to effectively present information and respond to questions from management, groups of peers or members.
Ability to write, read and interpret procedure manuals (operations and technical)
Ability to read, analyze and interpret business periodicals, professional journals, technical procedures, statistical reports and government regulations
Ability to exchange information in one-on-one situations with employees
Ability to convey/present information effectively to groups, with varying degrees of experience, and to respond to questions from a diverse audience
Ability to solve problems with many concrete variables in a variety of situations where only limited standardization exists
Ability to define problems, collect data, establish fact and draw valid conclusions
Ability to focus on detail and verify accuracy of numbers and text
Ability to interpret a variety of technical instructions
Ability to develop cost-beneficial recommendations to reduce operational risk, improve level of compliance with regulations, or improve operating efficiency.
Ability to troubleshoot and resolve member and staff issues/problems
Ability to prioritize diverse job assignments and meet established deadlines
Ability to prioritize tasks and complete daily job assignments while participating on project teams
Ability to supervise work of staff and organize workload to accommodate competing demands.
Able to effective work under stress
Able to arrive at work routinely and promptly
Ability to resolve controversial or delicate matters skillfully
Ability to respond to sensitive inquiries and complaints in a timely, effective manner
Ability to maintain sensitive and confidential information
Ability to interact effectively with colleagues and supervisors
Ability to project a professional image to outside vendors, auditors and regulators
Ability to coach and motivate others to take action
Ability to provide constructive feedback to others
Ability to work productively and professionally under stress
Ability to provide excellent customer service
Ability to determine needs and sell solutions to others
Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC.
WORKING CONDITIONS:
Must be able to secure and retain appropriate security clearance(s) and access to designated facilities to perform the principle accountabilities and functions of the position.
Must be able and available to work variable hours and schedules to conduct/deliver/counsel employees via individual and group sessions both at on site and other locations
Must have sufficient sight and personal mobility to independently perform all key accountabilities without requiring regular (usual work day) assistance from the Director of Internal Audit.
RCA Security Clearance
Ability to sit, stand and walk for extended periods and demonstrate sufficient dexterity and vision to operate a variety of office equipment.
Ability to lift up to 15 lbs with or without assistance.
Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate.
This position description is not necessarily all inclusive in terms of work detail.
Recommended Skills Audio Equipments Auditing Bank Secrecy Act Business Correspondence Business Efficiency Business Processes Estimated Salary: $20 to $28 per hour based on qualifications.
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