Director of Internal Auditing

Job Details

Description

The Director Internal Auditing oversees and manages all audit-related activities within UCCU. Responsible for implementing and overseeing an internal Credit Union auditing program, utilizing a “risk based” audit approach. Conducts and directs audits and ongoing reviews of Credit Union controls, operating procedures, and compliance with laws, company policies and regulations to reduce risk and improve efficiency. Reviews and appraises the soundness, effectiveness, and proper application of accounting, business processes and financial controls. Assesses the adequacy and extent of programs designed to safeguard Credit Union assets. Compiles and issues audit reports detailing observations, conclusions, providing recommendations for improvements including management responses. Directs and appraises the activities of audit personnel. Develops and implements employee training and modifies procedures and manuals as needed. Serves as liaison for all external audit, compliance and regulatory agencies and service providers. Serves as liaison for Supervisory Committee.

Essential Functions And Basic Duties

• Responsible for the development, implementation and execution of an effective audit strategy and plan, adhering to current IIA Audit Standards.
• Develops short and long-term goals and objectives. Prepares an annual organization wide audit plan with a “risk based” approach utilizing risk assessments of the Credit Union’s respective operations.
• Directs and manages internal audit operations ensuring compliance with current regulations and UCCU policies.
• Identifies and assesses areas of credit, interest rate, liquidity, transaction, compliance, strategic, reputation and concentration risks.
• Executes established operational goals and ensures that institution-wide plans are complemented and supported. Coordinates internal auditing programs with those formulated by the Credit Union's independent and regulatory auditors.
• Develops policies and procedures for auditing operations in conjunction with Supervisory Committee recommendations. Conducts periodic reviews of existing policies to ensure accuracy, efficiency, and effectiveness. Acts as an internal controls/system consultant.
• Ensures that UCCU policies and procedures are current and in compliance with evolving regulations, legal requirements, and industry trends.
• Ensures the effective and accurate performance of auditing functions.
• Develops an understanding of the UCCU’s policies and procedures, and an understanding of its key internal financial and operational controls. Has a broad knowledge of financial institution operations and the regulatory process.
• Oversees the development and implementation of audit strategies, policies and procedures included are operational and Branch audits ensuring adherence with policies, regulations, financial controls, and financial industry standards. Ensures adequate planning, test work, discussions with management, documents audit results and issues observed, develops recommendations, and works with area to update risk assessments. Issues reports of audit findings to appropriate management, the Supervisory Committee, CEO and others as appropriate, and recommends improvements to internal processes and controls.
• Oversees, and reviews financial and credit audit analyses. Examines and/or directs examination of credit and investment portfolios to determine compliance with established policies, standards, and legal requirements. Ensures that credit documentation is appropriate. Discusses reviews with appropriate managers and develops recommendations and risk assessments.
• Conducts, oversees, and reviews internal fraud investigations and employee audits where warranted.
• Performs special investigations or audits upon the request of the President, Supervisory Committee, Board of Directors, or Executive Management when appropriate.
• Monitors and ensures effective follow-up to audit recommendations and management action plans.
• Effectively supervises audit personnel, ensuring optimal performance.
• Provides leadership to Audit personnel through effective objective setting, delegation, and communication. Conducts staff meetings as required.
• Ensures that personnel are well trained, effective, and optimally used, maintaining professional and technical knowledge by participating in relevant educational opportunities. Provides regular training as needed regarding policy, procedures, and program changes.
• Coordinates the scheduling of audits and assignment of audit staff.
• Assures Audit Department conforms with the Global Internal Audit Standards, which strengthens UCCU’s ability to create, protect and sustain value by providing the Board and Executive Management with independent, risk-based and objective assurance, advice and insights.
• Conducts performance appraisals as required. Implements corrective actions as needed.
• Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and management.
• Assists, supports and provides guidance to Credit Union personnel and management on risk management issues.
• Keeps the President/CEO informed of area activities and significant issues.
• Completes and timely submits relevant audit reports. Reports on the progress towards completion of the annual plan.
• Attends meetings as required, including those of risk management, Supervisory Committee and Board of Directors.
• Assumes responsibility for ensuring that professional business relationships are established and maintained with the community, Credit Union members, other financial institutions, and audit professionals.
• Ensures that the Credit Union's professional reputation is maintained both internally and externally. Participates in the Utah Association of Internal Audit and Risk Professionals group activities and meetings and/or other appropriate peer groups.
• Ensures that appropriate levels of security and confidentiality are maintained.
• Acts as a principal representative of the Credit Union in contact with business and trade associations and external auditors. Promotes the Credit Union’s interests.
• Assumes responsibility for related duties as required or assigned.
• Ensures that the Credit Union's professional reputation is maintained.
• Stays informed of changing auditing procedures, policies, and industry trends.
• Ensures that work areas are clean, secure, and well maintained.
  
  

PERFORMANCE MEASUREMENTS

• Strategic auditing plans and goals are developed and implemented that are supportive of Credit Union objectives.
• Auditing functions are efficiently and accurately performed in accordance with established policies, procedures, and regulatory requirements.
• Auditing needs are appropriately assessed, problems are identified, and effective controls and systems are implemented to meet them. Recommendations are provided as needed.
• Auditing functions are well implemented within all Credit Union departments. Good coordination exists with independent and regulatory auditors.
• Auditing personnel are well trained, effective, and their activities well coordinated. Good working relationships exist with Credit Union personnel. Assistance is provided as needed.
• The Supervisory Committee and President are appropriately informed of Audit activities and of any significant problems. Suggestions for improved effectiveness and control are provided. Required reports are accurate, timely, and informative.
• Works a regular and predictable schedule.
  
  

Qualifications

EDUCATION/CERTIFICATION: BS degree in Accounting, finance or equivalent required. Master’s degree preferred.

CIA or CPA required.

Other professional certifications desired (CFE, CISA, CMA).

REQUIRED KNOWLEDGE: Thorough knowledge of IIA audit standards and procedures, laws, rules, government regulations, and Credit Union operations.

Understanding of audit and other related computer applications.

EXPERIENCE REQUIRED: Proven experience of at least ten years of auditing experience required. Strong knowledge of audit procedures, including planning, conducting and reporting on audits performed.

Supervisory Experience Required.

SKILLS/ABILITIES: Demonstrated management, supervisory, and organizational abilities.

Sound independent judgement, high ethical standards and absolute integrity.

Strong analytical, research, and problem-solving skills.

Creative and able to develop innovative solutions.

High attention to details and critical thinking capabilities.

Excellent written and oral communication skills.

Excellent public relations skills.

Able to use PC, printers, terminal, viewers, copy machines, telephone, and other basic business machines.

Physical Activities And Requirements Of This Position

FINGER DEXTERITY: Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.

TALKING: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

AVERAGE HEARING: Able to hear average or normal conversations and receive ordinary information.

REPETITIVE MOTION: Movements frequently and regularly required using the wrists, hands, and/or fingers.

AVERAGE VISUAL ABILITIES: Average, ordinary visual acuity necessary to prepare or inspect documents or products, or operate machinery.

PHYSICAL STRENGTH: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.)

WORKING CONDITIONS

Frequent reimbursed local travel.

Occasional out-of-town travel.

Mental Activities And Requirements Of This Position

REASONING ABILITY: Ability to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions.

Able to interpret a variety of technical instructions and can deal with multiple variables.

MATHEMATICS ABILITY: Able to perform basic statistical calculations, sampling theory, and factor analysis.

LANGUAGE ABILITY: Ability to read periodicals, journals, manuals, dictionaries, thesauruses, professional white papers, etc.

Ability to prepare professional business communications, proposals, summaries, and reports using prescribed format and conforming to appropriate rules of punctuation, grammar, diction, and style.

Ability to conduct training, communicate effectively in panel discussions, and make professional presentations.

Intent And Function Of Job Descriptions

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.

All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.#J-18808-Ljbffr

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