What are the responsibilities and job description for the Director, Internal Audit position at Virginia Credit Union?
Job Description:
PRIMARY FUNCTION:
Responsible for managing activities of the Internal Audit Department, which includes the execution of projects included on the Audit Plan, as well as the supervision of audit staff and daily operations and administration of the department. Conducts internal audits in accordance with professional internal auditing standards and the department’s policies and procedures. Provides objective assurance and consulting services designed to add value and improve VACU's operations.
JOB DUTIES AND RESPONSIBILITIES:
- Effectively plan and supervise audit engagements by assisting the in-charge auditor with planning and creating a risk-based audit program. Leads the development and implementation of appropriate audit procedures for evaluating the adequacy and effectiveness of internal controls, operational activities, and information technology throughout the credit union. Manage the execution in accordance with the Standards and internal audit’s methodology. Lead all phases of the audit process for assigned audits, including planning, risk assessment, establishing scope and objectives, development of audit programs, documenting detailed testing, analyzing results, and communicating findings and recommendations.
- Develop a strong understanding of the credit union’s information technology infrastructure.
- Evaluate and communicate audit findings to management. Assesses the exposure/risks associated with identified weaknesses. Scrutinize management’s responses to ensure actions taken are appropriate and risks are mitigated. Escalate unacceptable levels of risks to the SVP/Internal Audit.
- Review and approve all documentation for assigned audit engagements prior to submitting to the SVP/Chief Audit Officer for review. Includes, but not limited to, planning documents, Exception Summaries, and audit reports.
- Provides thought leadership to the internal audit team and business unit management surrounding internal control practices.
- Manage and coach audit staff. Assist in their professional and career development. Provide feedback on performance through periodic meetings and the credit union’s formal performance review process.
- Leads the development and implementation of computer assisted audit techniques to automate the audit process using specialized audit software.
- Coordinates the collection of data and use of data analysis software (e.g. ACL, Arbutus) in order to perform monthly data analytics testing, as well as analytics on individual audit engagements.
- Keeps the SVP/Chief Audit Officer informed of audit progress, operational concerns, and significant deficiencies, irregularities, or problems identified. Recommends solutions to address or correct all such items.
- Assists SVP/Chief Audit Officer with the risk assessment process and the development of annual audit plans.
- Assists the SVP/Chief Audit Officer with any special investigations involving employees and members.
- Attends Supervisory Committee and Board Meetings in the absence of the SVP/Chief Audit Officer.
- Coordinates audit assistance provided to the external auditors and/or examiners.
- Stays abreast of regulations and issues affecting the industry and internal audit.
- Serves as Team Leader under the Business Continuity Plan.
- Assists with the administration of the department's software and ensures compliance with Information Security Policies.
- Maintains a good working relationship with employees at all levels.
- Keeps abreast of organizational developments in the Credit Union.
- Keeps all transactions with the Credit Union and/or members in strict confidence.
- Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.
- Complete all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security.
- Report all Risk Management Policy violations in accordance with policy.
- Performs other duties as assigned by the SVP/Chief Audit Officer
JOB QUALIFICATIONS:
Knowledge: Prior experience performing audits at an advanced level. Financial services industry experience and familiarity with information security concepts is strongly preferred. Significant prior public accounting experience preferred. Must have the ability to independently evaluate the adequacy of and compliance with controls, the accuracy of financial records, the effectiveness of operations, and associated risk. Strong PC skills are required, including proficiency in Microsoft Office suite of software; familiarity with data analysis software (e.g. ACL, Arbutus) is highly desirable.
Skills: Ability to gather, analyze, and evaluate information and data in a meaningful manner. Good judgment. Excellent oral and written communication skills. Ability to work independently and adapt to changing priorities. Strong interpersonal skills. High degree of integrity and respect for confidentiality and privacy of information. Detail oriented. Ability to communicate within all levels of the organization.
Abilities: Must have transportation to all VACU locations.
Minimum Education and Experience: Bachelor's degree from an accredited college with emphasis in accounting, business, or computer science. CPA, CIA, or CISA certification is strongly preferred. Strong working knowledge of generally accepted accounting principles and generally accepted auditing standards is required. Knowledge of information systems and related controls is strongly preferred.
PHYSICAL REQUIREMENTS:
This job requires the ability to sit and stand for long periods of time and infrequent lifting or carrying of objects up to 10 pounds.
