Internal Auditor

JOB DESCRIPTION

INTERNAL AUDITOR

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SUMMARY:

The Internal Auditor assists with the completion of assigned Operational, Compliance, Financial, and Branch audits as well as other audit activities that include monitoring, special projects, investigations, and other activities ensuring regulatory adherence and policy compliance. The Internal Auditor will assist with NCUA Examinations and Certified Financial Statement Audit work and is responsible for testing the credit union’s control framework for adherence to policies, procedures, all applicable federal and state laws and regulatory requirements, and industry best practices.

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ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Perform and control the full audit cycle including risk management and control management over operational effectiveness, financial reliability and compliance with all applicable policies and procedures
• Determine internal audit scope and develop annual plans
• Review and present audit reports from external auditors that reflect audit results
• Conduct regulatory compliance risk audits as per schedule, identifying and documenting issues and recommendations.
• Perform operational risk audit tests, including branch audits, and document findings.
• Report risk assessment and audit results to management through monthly written reports.
• Document audit testing in a concise manner through preparation of detailed audit workpapers in accordance with departmental standards
• Provide clear explanations of audit procedures performed in audit workpapers. 
• Communicate promptly audit results to the affected departmental leaders, once audit has been finalized.  
• Responsible for acquiring skills pertinent to credit unions in New York and applicable Generally Accepted Auditing Practices.
• Will attend all Supervisory Committee meetings as required.
• Exercises major responsibility for gathering data pertinent to an audit. Conducts background research of branches/departments being audited, including examination of relevant statutes, rules, and regulations. Reviews and comprehends data, documents pertinent information, and works with the manager of the audited department.        Performs audit work, including plan preparation, work papers, findings, and associated reports; verifies the accuracy of financial records as they pertain to assets, liabilities, receipts, expenditures, and related transactions.
• Travels to audit site locations and obtain audit evidence. Performs audit fieldwork that includes visual examination of records and other items and preparation and organization of work papers showing the result of audit examinations. Conducts interviews with Department Managers to elicit factual information. Prepares management comments and audit reports.
• Provides documented reports to the Executive Team and Supervisory Committee, as required.
• Consults with and advises senior management on operational and administrative issues. Recognizes and informs senior management of opportunities to increase the level and types of service to members. Anticipates and addresses member concerns, and escalating problems as they arise.
• Works closely with senior management in order to help them understand and assess risk. Evaluates the adequacy of techniques to manage risk; provides an assessment of the level of comfort that risk management and governance processes are operating effectively and efficiently.
• Participates in development, implementation and maintenance of policies, objectives, short-and-long-range planning; develops and implements projects and programs to assist in accomplishment of credit union’s goals and objectives.
• Conduct management follow-up for audits
• Document Internal Audit procedures
• Assists in employee training, regulatory reviews, and investigations while maintaining up-to-date knowledge of financial regulations.
• Maintain updated knowledge of relevant regulations, standards, and internal audit practices, completing required training annually.
• Support investigations into suspicious activities or control issues as needed.
• Assist with NCUA Examinations and External Auditor Certified Financial Statement
• Acts as a liaison with external auditors.
• All other duties as assigned.

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REQUIREMENTS:

• Bachelor’s degree in accounting, or business-related field and/or a combination of education and equivalent work experience. 
• Strong knowledge of credit union deposit and lending regulations, products, services, policies, and procedures.
• Minimum four to seven years of compliance, accounting, auditing or risk management experience in a financial services institution required. 
• Professional certifications preferred (Certified Public Accounting, Certified Internal Auditing, Certified Financial Services Auditor, Credit Union Compliance Expert, Certified Anti-Money Laundering)
• Skilled in gathering, analyzing, and compiling complex financial and statistical data.
• Proficient understanding of risk analysis techniques, regulatory environments, and financial services compliance.
• Thorough working knowledge of auditing techniques, professional auditing standards, data analytic software, Federal and State financial practices.
• Possess a general knowledge of FASB regulations, GAAS, and GAAP.
• Skilled in examining and re-engineering operations and procedures and developing and implementing new strategies and procedures. 
• Knowledge of financial/business analysis techniques.
• Thorough knowledge of financial services, regulatory compliance and procedures. 

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COMPENTENCIES: