Internal Auditor bei Central One Federal Credit Union

Description

JOB STATUS: Exempt

REPORTS TO: President/CEO; Supervisory Committee

SUPERVISES: None

WHO WE ARE: At Central One, our values are to Deliver Exceptional Service, Work as a Team, Have Fun, and the Credit Union philosophy of People Helping People; all while striving to be C.E.N.T.R.A.L. One Ambassadors. CENTRAL stands for Caring, Enthusiastic, Nimble, Team-Oriented, Resilient, Altruistic and Loyal. At the core of our values lies a commitment to our community, members, and employees, with a focus on overall well-being.

PRIMARY FUNCTIONS:

The Internal Auditor is responsible for providing independent assurance on the effectiveness of the Credit Union’s risk management, regulatory compliance, internal controls, IT and cybersecurity oversight, and governance processes. This role serves as a key liaison with the Supervisory Committee, external auditors, and regulatory agencies, while supporting risk monitoring, advisory services, and professional auditing standards.

DUTIES AND RESPONSIBILITIES:

Internal Audit

• Develop and execute comprehensive risk-based audit plans that encompass all COFCU functions, departments, and operational processes.
• Work with external audit firms to schedule and ensure all required audits are done in accordance with regulatory requirements.
• Conduct systematic audits to evaluate regulatory compliance, policy adherence, and internal control effectiveness.
• Perform periodic and special audits beyond the standard audit plan, including ad hoc investigations as circumstances require.

Audit Documentation & Resolution

• Maintain detailed audit documentation that outlines procedures performed and support reported conclusions.
• Identify and discuss audit irregularities or deficiencies with department managers, providing actionable recommendations for resolution.
• Ensure timely and appropriate remediation of audit findings through follow-up procedures.

IT Security & Cybersecurity Oversight

• Working with outside firms and/or auditors to assess the effectiveness of information technology controls, data security protocols, and cybersecurity risk management practices.
• Evaluate system access controls, data protection measures, and compliance with information security policies.

Supervisory Committee Support & Communication

• Serve as primary liaison between the credit union and Supervisory Committee.
• Prepare comprehensive meeting materials including minutes, quarterly reports, and supporting documentation.
• Facilitate Supervisory Committee meetings and present internal audit findings, external audit results, NCUA examination outcomes, and other regulatory reviews.

Risk Monitoring & Investigation

• Investigate and evaluate management’s response to higher risk member complaints and claims referred to Risk Management.
• Evaluate management’s response to complaints escalated to the Supervisory Committee by regulatory agencies.
• Conduct surveillance of employee accounts for suspicious activities and report policy violations to management and the Supervisory Committee.

Regulatory Compliance & Examination Management

• Ensure member account verification procedures comply with NCUA regulations.
• Oversee timely completion and submission of monthly branch audits.
• Coordinate NCUA examinations by facilitating examiner requests, preparing documentation, and reconciling discrepancies.
• Act as primary liaison between NCUA examiners and credit union management.

Advisory & Risk Consultation Services

• Provide expert guidance and risk mitigation recommendations to managers, employees, and members.
• Serve as consultant on risk implications for new processes, procedures, and products.
• Offer specialized knowledge on audit functions and credit union policy interpretation.

Confidentiality & Professional Standards

• Maintain the highest level of confidentiality in all audit and risk management matters.
• Adhere to professional auditing standards and ethical guidelines in all activities.

General Responsibilities

• Stay current on job related equipment, procedures and information via attendance at meetings and seminars and reading various memos, handouts and publications.
• Adhere to all applicable policies, procedures and regulations.
• Participate in special projects and community activities, as needed.
• All other duties and responsibilities as directed.

Hybrid Work Arrangement: This position participants in a hybrid work arrangement with a combination of in office and remote days. 

Requirements

PREREQUISITES:

Education: Bachelor’s Degree or equivalent experience required  

Experience: 5 - 8 years of progressive experience in the area of internal audit and risk management at a financial institution.

Skills: Knowledge of banking regulations; excellent written and oral skills; ability to do detailed work and exercise judgment; skilled in the use of computers and other office equipment; developed investigative skills with ability to conduct research and exercise good judgement.

Traits: Solid attention to detail, resourceful, analytical, good organizational skills.