Company: Bay Federal Credit Union
Location: Santa Cruz
Posted on: July 31, 2022
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
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
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
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
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.
Hands-on financial institution operations experience and an
understanding of risks and controls associated with banking
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.
Requires strong verbal and written communication skills.
Ability to read and interpret documents such as compliance
regulations, board policies, and operating policies and
Ability to write routine and advanced reports and business
Ability to speak effectively before Senior Management, Board of
Directors, and Supervisory Committee.
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.
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
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
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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