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Internal Auditor

Company: Bay Federal Credit Union
Location: Santa Cruz
Posted on: July 31, 2022

Job Description:

The Internal Auditor is responsible for managing internal audits that test the Credit Union's system of internal controls. These audits provide assurance to the membership and other stakeholders that the Credit Union is operating safely and soundly and meeting regulatory expectations that are expected from a trusted financial institution. This position is the core contributor in all phases of planning, performing, documenting, managing, and reporting on compliance and operational internal audit assignments. Additionally, this role will support the annual enterprise risk assessments, continuous risk monitoring, validation of completed management actions based on findings, and annual audit planning.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

Core contributor and/or lead to the development of a risk-based audit scope, audit program, and testing procedures based on inherent risk factors and quality of controls.
Conducts audits of operations, determines the nature and extent of auditing required and then investigates any irregularities and recommends corrective measures.
Manages all audit assignments by planning audits, documenting audit work, preparing audit reports/recommendations for review, and validating completion of management remediation.
Support AVP, Risk Management in the development, implementation, and execution of elements of the Risk Management strategic and operating plan.
Monitor and audit compliance with internal credit union policies and procedures ensuring consistent and continual adherence to state and federal laws, NCUA regulations, and members' expectations of safety and soundness.
Monitor and perform tests of internal controls designed to detect material weaknesses. Recommends revisions in internal controls and analyzes effectiveness of audit test programs.
Using audit testing technology tools, independently review monthly system reports to detect non-standard information, and report findings to Senior Leadership Team with detailed activities reported to the appropriate manager.
Educate the management team on importance of adhering to internal controls. Communicate to all employees the process to report unusual or suspicious transactions to Risk Management for further investigation.
Possess thorough knowledge of credit union policies and procedures, be able to understand and comply with applicable federal and state laws and banking rules and regulations.
Prepare reports for management and the Supervisory Committee concerning scope of audit, financial conditions found, and makes recommendations for correction where necessary.
Promote and maintain a positive image of Bay Federal at all times to all personnel, members, volunteers, vendors and the community.


To perform this job successfully, an individual must have robust knowledge of concepts, principles and practices of audit, compliance, risk management, and internal controls in financial services. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Core Competencies:

Hands-on financial institution operations experience and an understanding of risks and controls associated with banking operations.
Superior attention to detail and accuracy, excellent problem solving, analytical and research skills.
Ability to self-direct in managing day-to-day tasks accurately and within specified timeframes.
Experience in planning and project management, and maintaining composure under pressure, while meeting multiple deadlines.
Ability to establish and maintain harmonious team-oriented working relationships and work effectively with people at different levels, in a professional team environment.

Language Skills:

Requires strong verbal and written communication skills.
Ability to read and interpret documents such as compliance regulations, board policies, and operating policies and procedures.
Ability to write routine and advanced reports and business correspondence.
Ability to speak effectively before Senior Management, Board of Directors, and Supervisory Committee.

Mathematical Skills:

Ability to add, subtract, multiply, and divide in all unites of measure, using whole numbers, common fractions, and decimals.
Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Physical Skills:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and stoop, kneel, crouch, or crawl.

Education and/or Experience:

High School Diploma or equivalent required.
Bachelor's degree in Business Administration, Accounting, Finance, or related business discipline or equivalent experience is required.
Minimum 3 years of experience in financial industry in compliance operations, risk management, internal/external auditing, or fraud/investigations or equivalent combination of education and experience.
Extensive knowledge and skills in Excel, Word, and other business software used to prepare workpapers, reports, memos, audit summaries and data analyses.
A recognized professional designation (e.g., CIA, CFE, NCCO, CUERME) is preferred.

Important Disclaimer Notice:

The job duties, elements, responsibilities, skills, functions, experience, educational factors and the requirements and conditions listed in this job description are representative only and not exhaustive of the tasks that an employee may be required to perform. Bay Federal Credit Union reserves the right to revise this job description at any time and to require employees to perform other tasks as circumstances or conditions of its business, competitive considerations, or work environment change.

Keywords: Bay Federal Credit Union, Santa Cruz , Internal Auditor, Accounting, Auditing , Santa Cruz, California

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