Audit Specialist

Department: Audit & Compliance

Reports to: Risk & Compliance Manager

FLSA Status: Non-Exempt / Exempt

Grade: Salary grade based upon an applicant’s experience at hiring and allows for progression within the position. The grade of the position for each branch is determined by office portfolio size and employee skills/experience. Contact the Human Resources Director for additional information.

Statement of Hire:

At the Bank of the Pacific, we are committed to delivering memorable service beyond the customer’s expectation, to include both external and internal customers. We consistently demonstrate our values through teamwork, open communication, integrity, honesty and respect for others. Additionally, we will maintain a professional appearance through dress, conduct and an orderly work area.

A successful candidate will possess these qualities and be enthusiastic, professional and of high ethics. They will embrace our Mission, Vision and Values and actively contribute to our success.

Job summary:

To assist the Risk & Compliance Manager with administering the daily activities of the Bank’s Audit Program. The Audit Specialist is responsible for tasks that involve: performing internal audits, working with various departments to assist in making recommendations to policies and procedures, conducting audit related research/analysis, new product development/service offerings, assisting with the implementation of new or revised regulations, developing management reports and tracking remediation of audit, exam or compliance monitoring findings or recommendations.

Principal Responsibilities:

Through comprehensive internal audits, the Audit Specialist executes audit programs, under supervision, to meet the Audit Plan objectives in an accurate and timely manner. This includes reviewing, evaluating and verifying the soundness, adequacy and application of controls and procedures.

• Assists the Risk & Compliance Manager in performing operational audits which evaluate and encourage compliance with prescribed company policies and procedures in order to promote operations efficiency.
• Assists the Risk & Compliance Manager in performing financial audits to check the accuracy and reliability of accounting records, safeguarding of company assets, and reports on the reliability of the company’s financial statements.
• Assists with performing testing of the bank’s internal control environment related to the initiation, authorization, recording, processing, reporting and disclosure process of financial transactions and financial reporting to verify the bank’s compliance with FDICIA requirements.
• Assists the Risk & Compliance Manager with performing compliance audits which evaluate both company and employee compliance with the regulations and rules of the Sates of Washington and Oregon, the Federal Deposit Insurance Corporation, and other governing regulatory agencies.
• Assists the Risk & Compliance Manager with performing Fraud audits.
• Assists with performing testing of The Bank’s Information Security Systems. There are many types of information systems audits that focus on the controls that govern the development, operation, maintenance, and security of application systems in a particular environment. This type of audit might involve reviewing a data center, an operating system, a security software tool, or processes and procedures (such as the procedure for controlling production program changes), etc.

Upon request, assists the bank’s external auditors in performing various audit procedures such as preparing reports or performing direct testing for their examinations.

Acts as intermediary between the business units and the bank’s external auditors to resolve any questions and ensure timely completion of audits. Responsible for uploading requested audit items for auditor review.

Competently utilizes audit tools, techniques, and procedures toward the goal of obtaining proficiency in all assigned internal audit programs.

Collects, analyzes, interprets and documents information which supports internal audit results.

Makes recommendations to Management and suggests changes to the Bank’s policy, procedure manuals, forms, processes etc.

Reports audit evaluations in the form of written audit reports to the Risk & Compliance Manager, Management and the Board.

Education / Experience:

• AA College Degree preferred, High School diploma or equivalent required.
• Minimum three years banking experience preferred.
• Experience in the financial services industry, accounting, auditing, compliance, or risk management preferred

Skills / Knowledge / Abilities:

• Demonstrated high level of personal integrity, ability to professionally handle confidential matters, and reflect appropriate level of judgement and maturity.
• Able to work independently and in a team environment with people of diverse backgrounds.
• Effectively use organizational and time management skills to set priorities, achieve goals and meet deadlines.
• Project management skills are a plus.
• Knowledge of research and review processes and procedures, with the ability to plan, schedule and conduct internal monitoring.
• Establishes and maintains effective interpersonal relationships across all areas of the Bank, from frontline staff to board members, examiners and external auditors.
• Ability to effectively communicate with clarity to management and staff both in written and oral communications.
• Promotes a professional and cooperative climate and is recognized as approachable and resourceful.
• Can discuss findings with confidence and is able to respond to objections. Skillful in finding common ground and is able to handle difficult people and tense situations with diplomacy and tact.
• Understands and is competent utilizing auditing tools, techniques and procedures including: business process analysis; governance, risk and control; risk and control assessment techniques; data collection methods; work paper setup; indexing; methods of testing; sampling; rating exceptions; etc..
• Strong working knowledge of Federal and State laws and regulations governing the banking industry.
• Able to accurately read and inspect documents, reports, computer printouts, letters and regulatory publications and data for errors or fraud. Ability to analyze and disseminate detailed information.
• Fully competent using various tools, techniques, and procedures, such as data collection, sampling, data mining, trend analysis, interviewing, questionnaires, checklists, etc.
• Proficient with Microsoft Office (Word, Excel, Power Point and Outlook) and bank proprietary software.
• Knowledge of banking practices is helpful, including general banking principles and procedures.
• Enjoy independently researching and learning areas of the bank that may be unfamiliar. The employee will need to gain a thorough understanding to be able to critically assess areas of the bank. This includes investigating, creative problem solving and analyzing detailed information.
• Manage time effectively, prioritize and follow through in order to complete projects in a timely manner. Organizational skills will help the employee be successful.

Compliance:

All employees are accountable for compliance with all laws, regulations and adherence to established internal controls and procedures when performing their job duties. Each employee is expected to be familiar with the legal and regulatory requirements and internal controls affecting his or her job responsibilities. It is the affirmative duty of each employee to carry out these responsibilities at all times in a manner that complies with all applicable legal and regulatory requirements and internal controls. All employees shall be responsible for communicating upward, problems in operations, noncompliance with the code of conduct, or other policy violations or illegal actions. Employees must participate in required training on pertinent compliance laws and regulations as required by the Bank of the Pacific.

All employees will be committed to maintaining a high level of compliance with the Bank Secrecy Act and Anti Money Laundering, USA PATRIOT Act and Financial Recordkeeping regulations recognizing that all three acts are important tools in federal efforts to combat organized crime, terrorism and drug trafficking.

Working Conditions / Environment / Potential Hazards:

• General office environment
• May be necessary to work extended hours
• Periodic travel required

Physical Requirements:

• Able to sit or stand for an extended period of time
• Able to lift up to 25 lbs

Experience

• 1 year(s): Audit & Compliance
• 3 year(s): Banking

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)