Audit & Risk Specialist

Job Description:

Primary Purpose of Job:  The Internal Audit Specialist will organize, plan and conduct audits of credit union activities to determine the adequacy and effectiveness of internal controls and sounds business practices. The position may provide backup support to risk & compliance team, such as reviewing BSA and OFAC alerts and high risk member report reviews.

Knowledge of all credit union products, services, policies and procedures to assist with compliance and quality control required.   All reviews and audits are to be conducted in compliance with objectives and policies as well as the Internal Auditor’s Code of Ethics, National Credit Union Administration guidance and other regulatory and internal standards, which govern the operations of each Credit Union.

Effectively promotes and supports CU’s products and services in a professional and courteous manner consistent with PCU’s Service Expectations.

Essential Job Expectations:

• Treats others with courtesy and respect.  Acknowledges others in a prompt and friendly manner, valuing others and their time.
• Utilizes appropriate resources to resolve problems effectively and accurately; actively looking for alternatives and solutions.
• Develops valued relationships by establishing rapport to ensure continued financial partnerships.
• Creates a positive experience by providing individualized service through the expression of appreciation and calling individuals by name.
• Understands and maintains knowledge of PCU products and services.
• Participates in and supports PCU sales and service culture by providing assistance as position or departmental function may require.
• Listens carefully to assess needs and identifies opportunities to offer appropriate product and service solutions, if opportunity arises.
• Demonstrates quality of work that meets expected standards in regards to neatness, errors, accuracy and completeness.
• Performs job responsibilities in the expected time frame, output of work, and productive use of time.
• Demonstrates an up-to-date knowledge to assess compliance with applicable regulatory requirements, such as BSA, OFAC, CIP, internal policies and procedures, and application of technical data and skills.
• Actively pursues training and developmental opportunities to maintain current knowledge and expertise as job function and skills may require.
• Works independently and maintains control/oversight of all assigned tasks and responsibilities in a timely manner.
• Takes action without being told, seeks out new assignments, task and additional duties. Takes responsibility, initiative and ownership.
• Demonstrates sound and appropriate decision-making processes.
• Demonstrates a favorable image when representing the PCU. Displays a high level of honesty, integrity, and confidentiality while exhibiting a professional demeanor.
• Communicates positively to enhance team and departmental cohesion. Able to manage and resolve conflict.
• Respond positively to instructions, and procedures, and change.
• Demonstrates a positive attitude and actively works toward solutions.
• Actively participates in team meetings, activities, and/or projects.
• Works harmoniously with others in getting a job done.

Supervisory Committee, Outside Examiners, Management and Member Interactions

• Effectively works with the Supervisory Committee to assess and create an annual auditing risk assessment and schedule.
• Capably assists external auditing/examining organizations, including CPA’s, NCUA and other risk management auditors with periodic audits and exams.
• Must demonstrate through effective communication and organizational skills an effective ability to interact and related in a professional manner with the Supervisory Committee and members of the credit union staff.
• Routinely meet with operations and lending management regarding overall trends being seen and make recommendations for additional overall education.
• Review and prepare supervisory committee responses to members related to credit union correspondence.
• Suggests policy and procedure/system changes to management that will facilitate the credit union’s audit compliance program, reduce overall risk and address compliance gaps.

Skills and Abilities

• Demonstrates thoroughness in monitoring and analyzing reports assigned to the Audit Department for review. Provides written finding reports with high attention to detail that are accurate, objective, clear, concise, constructive and timely.
• Must demonstrate an ability to design, implement and maintain a functional internal audit program for a financial institution.
• Communicates positively to enhance team and departmental cohesion. Able to manage and resolve conflict. Requires the ability to effectively listen and ask open-ended and clarifying questions for needs-identification.
• Demonstrates a high level of confidentiality, sensitivity and tact.
• Utilizing strong project management skills, can problem-solve and perform work in an ever changing environment.
• Must be proficient in Microsoft Office software, including the ability to generate moderately complex reports.
• Ability to communicate clearly in writing and speaking with clarity regarding the intended information.
• Works independently and maintains control/oversight of all assigned tasks and responsibilities in a timely manner.

Internal Auditing Tasks

• Develop and maintain an internal audit plan. Utilizing knowledge of operations policy and procedures in order to oversee timing and scope of audits, continually evaluate and develop each audit area for effectiveness. Audit programs should identify objectives, planned scope of coverage, and procedures to be performed.
• Gather and analyze data, and report audit results.  Discuss audit findings and recommendations with management in a timely manner, including identification of any concerns with recommendations for appropriate policy or procedural solutions.
• Report completion and status of internal audits to the Supervisory Committee. Effectively maintains the necessary files and documentation to support internal audit reports.
• Demonstrates strong investigative skills to effectively conduct random periodic reviews of loan files, perform follow-ups audits to determine appropriate action was taken on recommended audit findings, and carry out special reviews of problem areas, as identified by management.
• Possess the ability to assist in fraud, embezzlement, or robbery investigations.
• Prepare a tracking and monitoring system for issues identified from internal and external audit results, to ensure that corrections are achieved as needed within the timeframes provided.
• Effectively reviews members questions, concerns and complaints by working with appropriate Credit Union management and clearly communicates with the member and/or any regulatory agencies as necessary.

Compliance / Regulatory / Risk Management

• Maintains up-to-date knowledge to assess compliance with applicable regulatory requirements, such as BSA, OFAC, CIP, internal policies and procedures, and application of technical data and skills.
• Work with Risk & Compliance Officer Management to support routine review efforts around OFAC and BSA.

Community Involvement/Relationships

• Demonstrates a favorable image when representing the PCU. Displays a high level of honesty, integrity, and confidentiality while exhibiting a professional demeanor.

Education/Experience

• A Bachelor’s degree in finance or accounting is preferred but not required or equivalent work experience.
• Minimum of three years of experience in various financial institutions or similar experience in positions that provide insight into and/or experience with audit responsibilities.
• Working knowledge of GAAP, Sarbanes-Oxley, and other accounting and audit-specific laws and regulations and knowledge of internal controls is required
• Requires a thorough understanding of auditing/examination techniques with knowledge and adherence to current/emerging State/Federal laws; and NCUA/CFPB Regulations.

Physical Demand and Work Environment:

While performing the duties of this job, the employee must be able to sit for long periods of time. Occasional standing. Must be able to use hands to finger, handle or feel objects or controls; use a standard computer keyboard and ten-key with repetitive wrist and hand motion; reach with hands and arms; balance, stoop, or kneel; talk and hear. Ability to open large file drawers and be able to lift and carry up to 20 lbs. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth vision, and the ability to adjust focus. Noise level is usually minimal. Primarily an office working environment with periodic travel to branch offices required. Potential exposure to armed robbery.