Vice President of Audit

Summary

As the Vice President, Audit Officer, this position will be responsible for coordinating with internal auditors, reviewers, and others to ensure the soundness, adequacy, effectiveness, and proper application of accounting, financial, and operational controls. This position will function as the third line within the three lines of defense model. This position will present reports to the Audit Committee stating audit, review and regulatory findings and recommendations for improvement. This position will also report any irregularities, exceptions or other items, which could affect association operations to the Audit Committee and Senior Management. This position reports functionally to the Audit Committee of the Board of Directors, and administratively to a member of Management.

Responsibilities / Duties

• Effectively coordinates and oversees all internal audit activity to ensure it adds value to the Association.
• Supports related activities of FCA, CPAs, legal and other parties which perform review services for the Association.
• Reports directly to the Audit Committee to maintain independence and autonomy of the audit function as all times.
• Utilize advanced data analytics to identify trends and anomalies to automate and enhance the efficiency and effectiveness of the audit function.
• Develops and coordinates risk-based test plans to determine the priorities of the internal audit activity, consistent with Associations goals.
• Reports and tracks findings and recommendations for corrective action to Senior Management and the Audit Committee.
• Through coordination with the Audit Committee and Senior Management, maintains the Association's risk assessment and audit schedule, which provides for timely and systematic testing, reporting and follow-up.
• Maintains the independence and autonomy of the audit function in all activities.
• Conduct ad hoc reviews of credit and other operations as needed to address emerging risks or specific concerns, ensuring comprehensive oversight and timely intervention.
• Develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit activity.
• Reports results of the program to Senior Management and the Audit Committee.
• Establish policies and procedures to guide the internal audit activity.
• Review workpapers from outsourced engagements to ensure work performed meets audit plan expectations and engagement scope.

Education / Experience / Knowledge

Required Skills / Abilities

Benefits of being part of the First South team include :