The Vice President of Internal Audit (VP of IA) has primary responsibility for the development and execution of an annual agile audit plan as informed by a dynamic audit risk assessment, management of audits and consultative engagements, and Audit Committee reporting. In summary, this role is accountable for all aspects of effectively managing the third-line of defense. The VP of IA drives and directs the success of several engagements happening simultaneously and is responsible for promoting business solutions and fresh ideas to improve Ents system of internal controls to operate within risk appetite and tolerable limits, and drive appropriate responses when outside those bounds. A key tenet of this role is to assure that management is aware of audits in progress as well as open and outstanding issues. Overseeing successful and timely implementation of corrective action is key.
The internal audit program should provide reasonable assurance for the prevention and detection of loss at Ent Credit Union, by testing the design and operating effectiveness of the system of internal control. To that end, this role will be responsible to determine the on-going adequacy of the quantity and quality of staffing with emphasis of being ready for the Heightened Expectations of the environment when over $10 billion of assets. The VP of IA will collaborate with the Vice President of Corporate Monitoring & Testing to adequately cover the risk surface of Ent Credit Union.
This role reports functionally to the Audit Committee of the Board of Directors, and administratively to the Chief Risk Officer. The VP of Internal Audit is key in supporting Ents responsible growth and is expected to demonstrate efficient, effective, and higher performance.
Essential Job Duties and Responsibilities:
Organizational Audit Strategy:
Develop internal audit standards, policies, programs, and audit strategies. Research emerging risks and changes to industry and profession.
Complete the annual risk assessment for the credit union and formulate, implement, and administer the annual audit plan.
Carry out the annual audit plan through performance of internal audits, utilization of external audit resources, and in collaboration with Corporate Monitoring & Testing.
Research and advises on ways to incorporate data analytics in audit planning and fieldwork.
Develop, work on, and complete Internal Audit department and overall Risk Management division projects.
Organizational Audit Operations:
Perform/oversee audit follow-ups. Complete/oversee special investigations or questionable activity reviews. Participate in due diligence activities.
Provide monthly reports to the Audit Committee detailing findings, recommendations, managementresponses, pertinent comments for audit activities, and KPIs.
Complete Board Monitoring Reporting to assist the Audit Committee in meeting their fiduciary responsibilities
Organizational Audit Liaison:
Coordinate the preparation and support activities of credit union staff during Division of Financial Services, National Credit Union Administration, or any other regulatory agency on-site examinations and external auditor visits.
Foster effective and appropriate relationships with credit union management. Ongoing consulting, presentations, and management meetings.
Departmental Management and Leadership:
Management of internal audit staff regarding quality and quantity and reporting out to the CRO and Audit Committee quarterly.
Provide clarification / direction on work assignments.
Provide direct reports coaching / mentoring / leadership development opportunities towards achieving development goals.
Other duties as required.
Minimum formal education required for this position:
A Bachelors degree is required. Masters degree or J.D. in Risk Management, Business Administration, Accounting, or related field of study is preferred, and knowledge consistent with these levels will be considered.
Minimum work experience:
10+ years combined experience in Internal Auditing, Quality Assurance, or Compliance Testing in large financial institution ($10+ billion in assets and larger) risk environments, or public accounting and consulting experience equivalents. 5+ years management experience as a division manager or higher.
Technical or specialized knowledge/skills:
Certifications required:
Environmental, physical and psychological requirements:
Salary range for this position: $167,190.40 - $250,764.80 (This position is eligible for an annual corporate bonus based upon performance)
For information on our benefits please visit:https://www.ent.com/globalassets/pdf-files/legal/benefit-summary-sheet-2021.pdf
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