Internal Auditor

Merchants Bank•Cannon Falls, MN

1d•Onsite

About The Position

Merchants Bank has an opening for an Internal Auditor. This on-site position can work from any of our Merchants Bank branch locations in Minnesota or Wisconsin. This position is responsible for independently assessing the adequacy and effectiveness of the Bank’s internal controls, risk management practices, and governance processes. Ensures compliance with applicable laws and regulations, including FFIEC guidance and OCC expectations, and supports the Board and Executive Management in maintaining a strong control environment.

Requirements

3-5 years of audit or banking experience required.
Strong understanding of bank operations and products and financial statements and accounting principles.
Strong organizational, time management and independent working skills required.
Must have a high level of integrity, confidentiality, and professionalism.
Ability to analyze complex data and identify risks
Exercise sound professional judgment and independence
Communicate effectively (written and verbal) to all levels of the organization
Maintain independence from operational responsibilities
Support a culture of compliance, accountability, and continuous improvement
Participate in ongoing training related to regulatory expectations and emerging risks

Nice To Haves

May include travel to affiliate operations as required.
Some travel is required.
Must have ability to work in a team environment and have personal manner to enhance overall professional image of the organization.
Must be willing to be flexible and adaptable.
Must be prepared to learn new regulations and laws.

Responsibilities

Perform risk-based internal audits of bank operations as identified through the bank risk assessment
Assist in the development and maintenance of the annual audit plan based on enterprise risk assessments.
Evaluate the design and operating effectiveness of internal controls.
Ensure adherence to FFIEC guidance and interagency expectations, OCC safety and soundness standards, and Federal and state banking regulations
Identify and assess compliance risks and control gaps.
Monitor regulatory changes and assess their impact on audit scope and procedures.
Prepare clear, concise, and timely audit reports including findings, root cause analysis, and risk ratings, and practical, actionable recommendations
Present audit results to the Enterprise Risk Committee, Executive Management, and Audit Committee / Board of Directors
Follow up on audit findings to ensure timely remediation.
Evaluate effectiveness of internal control framework, operational processes, and fraud prevention and detection controls
Participate in enterprise-wide initiatives, including Business Continuity Planning (BCP) and Information Security and Physical Security reviews
Identify opportunities for process improvement and efficiency
Maintain detailed workpapers and documentation supporting audit conclusions.
Ensure all audits comply with Institute of Internal Auditors (IIA) standards.
Support internal and external audit coordination, including regulatory examinations.
Maintain confidentiality and integrity of sensitive information.