VP, Internal Audit Strategy & Compliance

PenFed Credit Union • West McLean, VA

280d • $180,841 - $276,086

About The Position

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it's about being a part of the PenFed family. PenFed is hiring a VP, Internal Audit Strategy & Compliance to work remotely. The Vice President, Internal Audit Strategy, Regulatory & Compliance Relations, and Emerging Risks is responsible for leading the strategic planning, development, and execution of the internal audit program. Reporting directly to the Chief Audit Executive, the VP serves as a subject matter expert in regulatory interactions, ensures comprehensive validation and oversight of corrective actions implemented by management to address regulatory findings, coordinates closely with Compliance, and proactively identifies and incorporates emerging risks into audit coverage strategies. This role can be located anywhere in the United States. The anticipated starting salary range for this role is $180,841 to $276,086. This position is eligible for the organization's annual Balanced Scorecard bonus subject to board discretion and approval. This position is also eligible for the opportunity for an annual Pay for Performance bonus.

Requirements

• Equivalent combination of education and experience is considered.
• Bachelor's degree in accounting, Finance, Business Administration, Technology, Cybersecurity or a related field.
• Minimum of fifteen (15) years progressive experience in internal auditing, regulatory compliance, risk management, or related areas within the financial services industry.
• Minimum of five (5) years of related experience in a Director level role.
• Demonstrated subject matter expertise in regulatory relations, examinations, enforcement actions, and remediation validation processes.
• Extensive knowledge of regulatory requirements applicable to financial institutions, including NCUA, FRB, OCC, CFPB, and FDIC guidance.
• Subject matter expertise in key financial services topics including but not limited to model risk, credit risk, compliance, risk management, technology, and cybersecurity.
• Strong knowledge of internal auditing standards.
• Proven track record in developing and implementing audit strategies and improvement initiatives at large, complex financial institutions.
• Exceptional leadership, influencing, and communication skills with the ability to effectively manage relationships across diverse stakeholder groups, including senior executives, regulatory authorities and governance bodies.
• Strategic thinker with robust analytical skills and the ability to navigate complex regulatory landscapes effectively.
• Excellent organizational and time management skills, with the ability to prioritize and multitask effectively.

Nice To Haves

• Licenses and Certifications: CIA, CISA, CPA or other relevant professional designation (required).

Responsibilities

• Direct the development, implementation, and continuous improvement of the Internal Audit Strategic Plan and associated initiatives, ensuring alignment with organizational objectives and regulatory requirements.
• Serve as the primary Internal Audit liaison for regulatory interactions, facilitating clear communication, coordination, and responses related to regulatory examinations and inquiries.
• Lead validation processes to confirm timely and effective implementation of corrective actions taken by management to remediate regulatory findings.
• Provide expertise and strategic guidance on regulatory standards and expectations, proactively advising senior management on emerging trends and best practices.
• Monitor regulatory developments affecting the financial services industry, assessing impacts on audit strategies, and adjusting methodologies accordingly.
• Coordinate closely with the Compliance department to ensure consistent interpretation, application, and monitoring of regulatory requirements across audit and compliance functions.
• Provide subject matter expertise in key internal audits including model risk, credit risk, compliance, risk management, technology, and cybersecurity.
• Track emerging technologies, industry innovations, and other emerging risks, ensuring they are adequately identified, assessed, and integrated into the internal audit coverage strategy.
• Oversee issues management processes, working collaboratively across the three lines of defense to ensure issues are rated consistently rated, prioritized, and addressed in a timely and effective manner.
• Coordinate across the three lines of defense and represent Internal Audit in the design, implementation, and optimization of consistent Governance, Risk, and Compliance (GRC) technology and practices to enhance governance reporting and accountability.
• Partner closely with cross-functional senior leaders across risk management, compliance, legal, and operations to foster effective relationships and collaboration around regulatory compliance and audit matters.
• Oversee the preparation and presentation of audit strategy reports, findings, and key metrics to executive management and governance bodies, including the Board of Directors and Supervisory Committee.

Benefits

• Robust medical, dental and vision plan options.
• Plenty of paid time off.
• 401k with employer match.
• On-site fitness facilities at our larger locations.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree