• Chief Audit Executive

    Job Locations US-CA-Los Angeles
    Category
    Audit
  • Overview

    The Chief Audit Executive is responsible for the oversight and administration of the internal audit program for the Company, and operating independently of other departments. Administers the Audit Policy, and coordinates the activities of the Company’s external auditors. The Chief Audit Executive is responsible for directing, controlling, planning, organizing, and conducting audits for the Company.  Ensures the accuracy and completeness of records and procedures for internal control to safeguard Company assets and ensures areas of the Company are in compliance with policies, procedures, regulations and laws.  Reports audit findings, recommendations and validations to mitigate risk directly to the Company's Audit Committee. Oversees the Company’s Internal Audit function and provides independent assessments of the adequacy and effectiveness of the systems of internal controls established and maintained by Company management.

    Ensures compliance with established Company policies and procedures. Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Home Mortgage Disclosure Act, Real Estate Settlement Procedures Act, Fair Credit Reporting Act, Bank Secrecy Act in conjunction with the USA PATRIOT Act, Anti-Money Laundering and Customer Information Program, Right to Financial Privacy Act (state and federal) and Community Reinvestment Act.

    Responsibilities

    • Establishes and directs a comprehensive internal audit program, including appropriate audit testing plans and methodology.
    • Reviews the adequacy and effectiveness of controls established to ensure compliance with the Company’s policies, plans, procedures, and business objectives, and identifies and assesses potential risks to the Company’s operations.
    • Assesses the reliability of financial information and the systems and operations, including those outsourced that produce this information.
    • Reviews the results of all audits, oversees the preparation of audit reports, and communicates any findings to the Board and Senior Management effectively.
    • Provides advice and other substantive and administrative support to the Audit Committee to help fulfill its fiduciary responsibilities.
    • Accountable for the management, development and coordination of the Company’s internal audit day to day operations.
    • Develops and implements internal auditing policies, procedures, and program. Demonstrates understanding and ability to prepare, perform, manage and review integrated audits and the ability to manage and train Internal Audit staff.
    • Manages the hiring, training and development of Internal Audit Staff and any co-sourcing or consulting resources used by the department in accordance with the approved budgets for these engagements.
    • Conducts dynamic risk assessment process to develop the annual companywide audit plans and priorities. Coordinates the audit plans, compliance reviews and Sarbanes Oxley internal control evaluations to reduce redundancy and provide an efficient and effective risk monitoring program with value added results.
    • Maintains proficient knowledge of the states, federal and regulatory rules and regulations.
    • Oversees actions of comprehensive self-testing, independent third party and regulatory audits; makes necessary preparations for such audits or exams; coordinates responses to external auditors and regulatory examiners; ensures deficiencies identified from such audits and examinations are corrected.
    • Responsible for developing new audit principles and concepts within the Department to ensure compliance with the International Standards for the Professional Practice of Internal Auditing.
    • Ensures compliance with all applicable reporting and recordkeeping requirements and timely distribution of related materials and publications to designated personnel.
    • Prepares monthly and quarterly reporting of audit activities for presentation to the Director of Internal Audit and Audit Committee as required. Attends Audit Committee meetings and provides explanations of audit findings as needed to assist the Audit Committee members in their understanding of the issues.
    • Provides supervision and support to all areas of the department where service or assistance is needed; oversees activities of assigned department personnel.
    • Monitors staff in daily tasks, operations and quality control; ensures the organization of assigned areas of the department, coordinating available resources (e.g., staff, materials, etc.) for maximum results.
    • Develops, manages and executes the timely completion of the operational and IT annual risk-based audit plan that is approved by the Audit Committee of the Board of Directors.
    • Gathers data and prepares reports for Senior Management, audits and other personnel.
    • Prepares and reviews electronic audit work papers, written audit reports, memos and recommendations for each audit project prior to submission to senior management. Participates in discussion and resolution of audit comments and recommendations with senior management.
    • Regularly interfaces and develops strong working relations with executive management to actively respond to changing technology risks/demands and represents the Internal Audit Department on various committees as required.
    • Performs and manages special projects or investigations at the request of senior management or the Audit Committee.
    • Plays a positive role in the development and growth of assigned department staff through excellent communication skills, both verbal and written, along with strong delegation skills assuring a highly cross-trained staff.
    • Processes, solves and answers complex transactions, problems or inquiries.
    • Ability to interact with Regulators and auditors as required.
    • Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
    • Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
    • Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
    • Performs duties specific to the position and other functions as assigned.

    Qualifications

    These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines. 

    • Bachelor’s degree from a college or university; or 10+ years of related experience and/or training; or the equivalent combination of education and experience. Graduate degree preferred. Work related experience should consist of an in-depth background in Audit and supervisory skills. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be applicable to the financial industry.
    • Audit certification such as CPA, CIA, CISA, or CISSP is required.
    • Minimum of ten years of demonstrated successful experience in integrated auditing, with knowledge of Financial Institutions is required.
    • Knowledge and experience in Sarbanes-Oxley and the COBIT, ITGI and COSO methodologies is required.
    • Requires supervisory experience and management skills, project management experience and team work orientation.
    • Excellent organizational and time management skills, with the ability to provide leadership, supervision and training for employee’s using positive supervisory techniques to ensure maximum productivity; demonstrated ability in organization and delegation skills..
    • Intermediate skills in computer terminal and personal computer operation; mainframe computer system; word processing and spreadsheet software programs.
    • Intermediate typing skills to meet production needs of the position.
    • Intermediate math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
    • Exceptional verbal, written and interpersonal communication skills, with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees.
    • Thorough understanding of management procedures; ability to plan department or Company activities (setting objectives, developing strategies, budgeting, and developing policies and procedures); initiative to organize various functions necessary to accomplish department or Company activities; effectively staff (selecting, training and developing employees); directing employees towards the desired objectives (delegating, motivating, resolving problems); controlling the function (developing performance standards, measuring results, taking corrective action and rewarding employees as appropriate).
    • Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
    • Ability to work with no supervision while performing duties.
    • Current California driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.

    We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

     

    We will consider for employment all qualified Applicants, including those with Criminal Histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance.

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