VP, Senior Internal Audit Manager

First Commerce Bank•Lakewood Township, NJ

6h•Onsite

About The Position

The VP, Senior Internal Audit Manager is responsible for overseeing the Internal Audit function of the Bank and managing the outsourced Internal Audit relationship. This role involves implementing strategies to achieve departmental goals as part of the Bank's annual strategic plan, ensuring compliance with operating policies, procedures, and regulatory requirements, communicating with management and staff, and providing periodic reports. The position also requires assisting in the development of the annual budget for the department and adhering to budget parameters, as well as cooperating with and supporting adherence to all internal policies and procedures related to risk management, safety, and soundness, and regulatory compliance.

Requirements

Bachelor’s degree in Accounting or a related field of study required; specialized financial audit education/training.
Proficient in English, reading, writing, grammar, and mathematics skills.
Proficient interpersonal relations and communication skills.
Proficiency in writing detailed, comprehensive reports.
Proficient organizational and project/time management skills.
Demonstrated proficiency in application of internal auditing theory, auditing principles, standards, procedures, and techniques.
Proficient analytical skills to analyze financial and procedural data and to recognize potential internal control weaknesses in existing systems.
Thorough knowledge of bank compliance, operations, and related regulatory requirements.
Proficient PC skills including Microsoft Office software.
A minimum of ten (10) years' related experience required.

Nice To Haves

Masters degree preferred.

Responsibilities

Oversees the Internal Audit function of the Bank and manages the outsourced Internal Audit relationship.
Develops and coordinates the Internal Audit Program.
Develops and implements internal auditing policies, procedures, charter, and program.
Administers the Audit Policy, Audit Charter, and present year Audit Plan.
Manages/coordinates the activities of the Bank’s internal auditors.
Performs audits as directed by the Audit Committee.
Prepares written audit reports that are accurate, objective, clear, concise, constructive, and timely for the purposes of expressing an opinion on the adequacy of internal controls and making recommendations for improvement to the control environment and existing system or functions.
Participates in evaluating and reporting upon internal controls relating to safeguarding Bank assets, accomplishment of Bank goals and objectives, level of compliance with associated procedures, and reliability and integrity of information.
Coordinates Audit Schedules for the Audit Cycle and ensures that the scheduled audits commence in accordance to the Bank’s Audit Schedule and are completed in a timely manner.
Ensures prompt follow-up to any identified deficiencies in policies and procedures and, where necessary, works closely with the Bank’s line management to formulate proposals for policy and procedural amendments to enhance compliance.
Investigates and determines causes of irregularities and errors.
Updates the Risk Assessment on an annual basis for all internal audits performed and creates new Risk Assessments for any new audit areas, as needed, in conjunction with the Bank’s internal auditors.
Schedules Exit Meetings with Executive Management Post Audits.
Maintains audit issue tracker to include findings, recommendations, and responses for all internal audits.
Prepares Audit Reports and distributes to management.
Prepares and disseminates Audit Package to Audit Committee members.
Provides department heads correspondences sent from internal auditors.
Completes required in-house and external training to keep current on regulatory and industry changes.
Implements strategies to achieve goals assigned to the department as established in the Bank's annual strategic plan.
Assists in the development of the annual budget for the department and adheres to budget parameters.
Abides by the current laws and organizational policies and procedures designed and implemented to promote an environment which is free of harassment and other forms of illegal discriminatory behavior in the workplace.
Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank’s compliance with all regulatory requirements, e.g., Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Community Opportunity Act, etc.
Communicates with the Audit Committee, President and CEO, senior management, other department managers, and appropriate staff personnel in order to integrate goals and activities.
Provides periodic reports to the Audit Committee, President and CEO, senior management, and other groups as required throughout the Bank.
Performs tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.