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This position is responsible for executing assigned audit activities with supervision from the Director, Internal Audit. The Senior Internal Auditor will evaluate risks and controls, with supervision, to verify that each line of business operates in accordance with policies and procedures as well as state and federal consumer financial laws and regulations. This position will develop and/or supervise the development of design flows, risk assessments, and test programs designed to document and evaluate the effectiveness of operational, financial and/or regulatory compliance controls. The Senior Internal Auditor will also draft and negotiate audit findings with management.
General internal audit and regulatory compliance audit experience in the consumer finance industry, superb analytic and communication skills, a first-rate ability to prioritize and high attention to detail and drive to deliver excellence in every task are core values of the company and principal characteristics for success in this position.
Principal Duties and Responsibilities
Perform and complete audits by designated deadlines. Must be able to learn, comprehend, and perform various audits and reviews that may include any or all of the following types of audits; compliance audits, financial audits, operational audits and other projects as assigned.
Perform audits by: testing, examining, analyzing; making recommendations; and communicate findings to management both verbally and in writing.
Develop audit programs for compliance engagements based on consumer financial laws
Conduct internal audits in a timely manner utilizing a risk based approach that includes sufficient documentation to support audit procedures performed
Assist and monitor practices and changes within the financial services industry and internal audit profession. Respond and adapt to new regulations.
Communicate audit findings: prepare audit work papers, narratives and reports in accordance with established department, industry and professional standards. Communicate policy exceptions, compliance violations, and control weaknesses to department management during audits including offering recommended solutions that are relevant to the business and related risks.
Employ risk assessment methodologies to gauge risks and drive the audit program
Monitor and track the status of audit findings to ensure appropriate corrective action is taken
Provide assistance with the annual risk assessment process
Keep abreast of the latest compliance and risk legislation, regulations, advisories, alerts, and vulnerabilities pertaining to Elevate and its mission
Perform other assigned duties as assigned/needed
Education and Experience
Bachelor’s degree in accounting combined with 5+ years of internal audit and regulatory compliance audit in the consumer lending/finance industry
Knowledge of, and the ability to understand, consumer financial laws and regulations
Professional certification in Internal Audit and/or Regulatory Compliance preferred, but not required
Experience in performing SOX audits is a plus
Required Skills, Abilities, Soft Skill Factors
Highly effective written and verbal communication and presentation skills
General banking knowledge of federal consumer financial laws and regulations (i.e., TILA, ECOA, FDCPA, FCRA, MLA, etc.) is required
Solid listening skills and ability to identify gaps in logic – inquisitive in nature
Strong analytical and critical thinking skills as well as consistent demonstration of strong professional judgment
Well organized, detail oriented, able to manage multiple competing tasks, efficient and able to work independently and think critically
Ability to effectively apply risk and control concepts
Excels at building and maintaining trustworthy and effective relationships through strong interpersonal skills with emphasis on relationship-building
Ability to flourish in a fast-paced, complex environment and willing to adapt to new circumstances, information, challenges and change
Ability to understand general accounting terminology and financial reporting standards, the COSO framework and laws and regulations related to consumer lending
Broad understanding of the products offered by the business and a familiarity with the processes used to deliver them
An ability to review processes in the broad context of the overall business, including an evaluation of risk/reward tradeoffs, and the ability to anticipate issues not yet of obvious direct impact
Intermediate skills with the following Microsoft products - Excel, Word, Visio, PowerPoint, and Access
Demonstrate a positive, team-oriented and proactive can-do attitude