Senior Auditor

POSITION:                  Senior Auditor

DEPARTMENT:           Internal Audit

FLSA:                         Exempt

REPORTS TO:            SVP & Chief Internal Auditor

SUMMARY

Assist with the definition of the annual Audit Planning, and execute, review, perform, and assist

with the supervision of Audit Plan completion ensuring adequate improvement of the internal

control environment and adequate mitigation of financial and non-financial risks of the Bank (e.g.

credit, market, liquidity, money laundering (BSA/AML), compliance, models, data management,

collections, treasury, among others), and the proper functioning of the corporate governance framework, in compliance with applicable Auditing Standards, regulatory and methodological requirements and guidelines approved by the Audit Committee. 

ESSENTIAL FUNCTIONS:

1. Senior Auditor – Perform and complete risk assessment reviews (quarterly annually) on time for assisting in the preparation of the annual Internal Audit Plan, to be presented to the Audit Committee, Board of Directors and Regulators

·      Assist in the preparation of the Internal Audit Plan, perform auditable entities risk assessment reviews and ensure adherence with the internal audit methodology.

·      Perform, review and assist in monitoring compliance with Audit Plan (audits completion), which encompasses Risk Based Audits, Special Reviews, Financial Reviews, Agency/Branch Audits, Continuous Audits and Issue Validation.

·      Prepare, discuss and present preliminary draft Audit reports to the Chief Internal Auditor, with the results and identified issues, their preliminary evaluation (ratings and severities),and the respective action plans.

·      Prepare, discuss and present preliminary draft Audit reports to the Chief Internal Auditor, with the results of the validation of issues (issue validation workpapers).

·      Ensure that all audit and issue validation workpapers comply with applicable internal audit methodology requirements that support the audit activity, in the Audit tool (TeamMate ).

·      Review the information for the accountability of the Audit Division, following applicable methodological and regulatory guidelines.

RESPONSIBILITIES

·      Audit Planning & Fieldwork

·      Perform and assist in the supervision of Audits, special and compliance audits, required by Bank’s management or auditable entities, which includes the evaluation of the financial and non-financial risks of the Bank (e g credit, market, liquidity, money laundering (BSA/AML/ regulatory compliance, models, data management, collections, treasury, among others), and the proper functioning of the corporate governance framework.

·      Review and verify the existence, updating, dissemination and compliance of internal policies, procedures, strategies and methodologies and, if these are compatible with the volume and complexity of the transactions in the Bank.

·      Review that the operations and procedures of the Bank comply with all applicable regulatory requirements from the different regulatory bodies (e g OCC, FDICIA, CFPB, SEC, FED, Auditing Standards, etc.

·      Complete the Risk Assessment reviews for all auditable entities of the Bank for assisting in the preparation of the annual Internal Audit Plan This includes preparing, consolidating and reviewing the supporting documentation of all

·      auditable entities including but not limited to, performing walkthroughs with management, obtaining all relevant support evidence, etc.

·      Perform quarterly Risk Assessment reviews for all auditable entities of the Bank ensuring proper update and completion.

·      Prepare communication for the start of the audit (Intent to Audit Memo), coordinate and lead the audit opening meeting with business management.

·      Prepare and socialize the Risk and Control Matrices (RCMs) with the auditee, and review the design and operational effectiveness testing strategies for each of the identified key controls.

·      Prepare the Audit Planning Memorandum (APM) and timely submit it for review

·      Ensure that the sampling applied complies with the sampling methodology, based on the risk, size, frequency and complexity of the control being tested.

·      Prepare and consolidate the identified issues, validating the conclusions with the members of the audit team for the audit report.

·      Review and upload documentation/working papers in the Audit tool (100%) This includes ensuring that all working papers comply with the methodology and have been loaded into the tool (TM ) prior to issuance of the audit report.

·      Execute high risk testing in Audits as applicable, define testing strategies and formulate conclusions that include adequate rationale This includes preparing efficient and appropriately scoped testing strategies.

·      Evaluate financial risk models (Credit, liquidity and market), as well as money laundering prevention (BSA/AML/OFAC)

·      Review and evaluate the appropriate management of the risk stages ( measurement and monitoring), with technical support or with duly documented expert criteria.

RESULTS COMMUNICATIONS:

·      Prepare and present the audit report in accordance with the methodology standards and requirements This includes proposing the severities of the identified issues and the Audit ratings.

·      Coordinate and carry out the audit closing meeting.

·      In conjunction with business management work on obtaining SMART action plans that effectively mitigate the identified risk.

·      Prepare and discuss issues related to the technical analysis of the evaluated models (when applicable)

OTHERS:

·      Prepare, compile and present the information that supports regulatory and internal reports, which must be presented to governing bodies.

·      Manage the integrity, completeness and accuracy of the documentation/workpapers generated during the audit process, prior to the issuance of the report.

·      Propose, execute and assist in the supervision of continuous audit projects, automated procedures and other projects proposed by the Chief Internal Auditor.

·      Monitor and ensure that the action plans proposed by business management mitigate the identified root cause and are provided in a timely manner to be uploaded in the Audit tool (TM )

·      Review and ensure that issues issued by regulators ( and other entities have been approved, communicated and uploaded to the Audit tool for monitoring and timely validation.

·      Execute and develop all those administrative activities that have been assigned by the Chief Internal Auditor.

·      Monitor and ensure timely validation of issues according to their severity levels (S1 S2 S3 S4)

·      Review and keep the Audit Plan updated within the Audit Tool ( and support the tool's data integrity and completeness control activities.

·      Manage the updating of new regulatory requirements ensuring the Bank is in compliance with such requirements.

·      Lead audits (depending on specialization)

·      Maintain the internal audit plan updated in the Audit Tool (and ensure it is adequately updated, based on the quarterly results of the risk assessment reviews of auditable entities.

·      Monitor organizational structure changes that could impact audit reviews or that may create new emerging risks that may impact the Bank.

SUPERVISORY DUTIES:  No Supervisor Duties

BSA COMPLIANCE

I understand and acknowledge that, in addition to the duties outlined in this job description, I am also responsible for ensuring that my duties are performed in full compliance with all of the bank’s Bank Secrecy Act, Anti-Money Laundering, and OFAC policies and procedures as well as related Federal Laws and Regulations. Furthermore, I understand that I must create and foster a culture of BSA, AML, and OFAC Compliance within the institution. Lastly, I agree to address any and all questions I may have about the Bank’s BSA/AML/OFAC Program to the Bank’s BSA Department.

EDUCATION CREDENTIALS

·      Bachelor of Science (BSc) or Bachelor of Arts (BA) degree in Accounting or Finance or Master s degree in Business Administration (MBA)

·      Professional certification (such as CPA, CIA, CMA, CAMS, etc.) Preferred but not required.

DESIRED SKILLS AND EXPERIENCE:

·      Proven experience as an auditor Internal Audit, External Audit, Compliance, Risks and/or Control areas in financial entities (5 years audit experience)

·      Supervisory experience managing audit engagements

·      Thorough understanding of GAAP, generally accepted auditing standards, internal controls and complex audit procedures and techniques

·      In depth understanding of auditing and control practices

·      Good knowledge of laws and regulations in company's area (e g consumer regulations)

·      Good practical experience with MS Office particularly Excel, Powerpoint and Word

·      Effective verbal, written and negotiation skills

·      Effective project management skills

·      Effective influencing and relationship management skills

·      Strong mathematical and analytical skills

·      Reliability, Productivity and attention to detail

·      Must be proficient in Spanish (Speak, read, write)

EOE M/F/D/V & DRUG FREE