Vp, Internal Audit - Langley, Canada - First West Credit Union

First West Credit Union

Verified Company

Langley, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

We are currently seeking a VP, Internal Audit to join our team.

The VP, Internal Audit is the most senior leader in the Internal Audit function and reports directly to the Chair of the Audit and Conduct Committee.

Provides leadership and strategic direction to a team of Internal Audit professionals and is accountable to discharge internal audit responsibilities while utilizing the latest innovations in internal audit techniques.

Provides mentoring and coaching to internal audit leaders, builds strong relationships with Executives, regulators and the Board.

This role will ensure the internal audit and team is effectively and efficiently evolving to meeting the changing credit union, with the primary focus of evaluating and enhancing the effectiveness of the Credit Union's risk management, internal controls and governance processes.

This position collaborates and interacts primarily with executive leadership and key stakeholders at all levels throughout the Credit Union, providing an advanced level of professional service.

Here's what would be included as a part of your typical day
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Leadership: Provides strategic direction to the Internal Audit team and works closely with First West Leaders to build alignment with the FW strategic plan. Provides leadership and mentoring to direct reports, including development of successor.
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Audit Oversight and Development: Oversees the development of a comprehensive, forward looking, risk-based audit strategy that aligns to the Credit Union's strategic plan. Oversees the development of annual audit plans and designs frameworks which aligns the risk-based audit approach to for higher priority and emerging risk areas. Proactively works with executive leadership and the Chair of the Audit and Conduct Committee and provides insights on potential issues and risks arising from audit work impacting the Credit Union's operations. Develops and maintains relevant business, regulatory, and legislative knowledge and incorporates it into the Audit Plan. Oversees and monitors the Internal Audit budget.
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Board and Committees Reporting and Communication: Delivers report to the Audit & Conduct Review Committee to provide independent assurance that key controls are operating effectively ensure significant risks are being addressed by management in an appropriate time frame. Communicates with and engages executive leadership and the Audit & Conduct Review Committee, in discussions of complex and sensitive issues, audit findings, and recommendations. Attends, participates, and/or reports to project steering, management or other committees on internal controls, risk management, and corporate governance issues/findings. Periodically presents audit topics as learning sessions to executive leadership or the Audit & Conduct Review Committee.
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Risk Management: Provides independent third line-of-defense assurance to the Audit & Conduct Review Committee on the effectiveness of internal controls within the Credit Union and its subsidiaries. Provides advice and guidance to executive leadership on managing and mitigating risks through effective internal controls and processes. Engages in and ensures open communication with internal and external partners in the areas of internal controls, risk management, corporate governance, regulatory compliance, and internal policies/procedures. Works closely with SVP, Risk and the Enterprise Risk team to identify opportunities of advancing and enhancing internal audit techniques through collaboration and sharing of information/knowledge.
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Regulatory Requirements: Establishes and maintains effective relationships with applicable regulatory bodies related to internal audit (IIA) and financial institutions (FICOM, OSFI). Ensures the Internal Audit team's adherence to the Institute of Internal Auditors' "International Standards for the Professional Practice of Internal Auditing, the Definition of Internal Auditing, and the Code of Ethics" and maintains a professional standard of conduct. Maintains a thorough understanding of audit standards and regulation, industry legislation, regulations, policies and procedures and incorporates it into the internal audit strategic plan. Keeps abreast of leading best practices, changing regulations, latest trends, and technologies and incorporates it into the Internal Audit framework.

Required Skills, Experience & Qualifications

Bachelor's degree in business administration or equivalent required; master's degree preferred
Accounting Designation (CPA) required
Audit Designation (CIA) required
Risk Management designation preferred
10+ years post certification in progressively senior leadership roles with emphasis on internal audit or risk management required; experience within the financial services industry required
Demonstrated experience in leading change and developing a department/team preferred
Demonstrated experience reporting to Audit Committees preferred
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