SVP/Internal Audit Director

Posting Date:  06/13/2024
Location:  SanJose (on-site only)
Requisition #:  HBC 24-48
Department:  Audit

JOB SUMMARY:

The SVP/Internal Audit Executive is responsible for leading and managing the internal audit function. This position involves developing and implementing internal audit strategies, policies, and procedures to ensure the organization’s compliance with regulatory requirements and internal controls. The Internal Audit Executive is expected to communicate on a regular, ongoing basis with members of the Audit Committee regarding the effectiveness of the Company’s control environment. The role requires strong leadership, communication, and analytical skills.

PAY RANGE: Base Compensation is dependent upon role, experience, and skill set: Min- $143,798/yr  Max- $239,663/yr

ESSENTIAL DUTIES AND RESPONIBILITIES:

Strategic Leadership

  • Develop and implement an internal audit strategy aligned with the organization’s objectives.
  • Establish, manage, and oversee partnership with primary strategic co-source audit partner.
  • Manage relationships with additional co-source providers to ensure appropriate quality and consistency, and to confirm department goals are achieved within work performed by third parties.
  • Provide leadership and direction to the internal audit team, ensuring effective execution of audit plans.
  • Maintain the independent nature of the audit function by ensuring that neither the SVP nor Internal Audit staff initiates nor approves accounting transactions of any nature, nor administers or supervises any Bank or Company operations functions.
  • Provide people management leadership by hiring quality talent, setting goals, developing and mentoring staff, managing employee performance and compensation decisions, promoting teamwork and handling any/all disciplinary actions, as required. Additionally, establishing, managing, and overseeing relationships with co-source providers to ensure appropriately quality, consistency, and to confirm department goals are achieved within work performed by third parties.
  • Partner and develop strong relationships with business units, operational areas, and risk management functions.  Build respect for the Internal Audit function and develop the organization’s appreciation for a strong internal control environment.
  • Sustain professional and technical knowledge, as well as expanding knowledge, personal growth, and development through continuing professional education (CPE).
  • Responsible for ensuring high quality of audit reports and communications.

Risk Assessment

  • Conduct risk assessments to identify and prioritize key risks facing the organization.
  • Develop and implement risk-based audit plans to address identified risks.
  • Present Risk Assessment, Audit Plan, and Internal Audit budget to Audit Committee for review and approval.

Audit Planning and Execution

  • Plan and execute internal audits in accordance with professional standards and guidelines.
  • Provide regular reports to the Audit Committee on status of program.
  • Ensure the timely completion of audit projects and the delivery of high-quality audit reports.

Compliance & Control

  • Monitor and assess the effectiveness of internal controls and compliance with policies and regulations.
  • Recommend improvements to strengthen the control environment.

Stakeholder Communication & Relationship Management

  • Effectively communicate audit findings and recommendations to senior management and the Audit Committee.
  • Respond to common inquiries from business units, board of directors, management, and regulatory agencies.
  • Provide regular updates on the internal audit function’s activities and outcomes.
  • Build and maintain effective relationships with key stakeholders, including executive management, external auditors, and regulatory bodies.
  • Manage regulatory expectations, engage with regulatory agencies, understand, and communicate with internal stakeholders’ key priorities.

Technology And Innovation

  • Stay abreast of emerging trends and technologies in internal audit.
  • Implement innovative tools and techniques to enhance the efficiency and effectiveness of the internal audit function.

Supervisory Responsibilities

  • Recruit, train, and develop high-performing internal audit team.
  • Foster a culture of continuous improvement and professional development within the team.

QUALIFICATIONS/PROFESSIONAL EXPERIENCE

  • Bachelor’s degree (B. A.) from a four-year college or university preferably in Accounting, Finance, or related field.
  • Professional certification such as Certified Internal Auditor (CIA) or Certified Public Accountant (CPA) preferred.
  • Proven track record of success with 10+ years in the public accounting industry and in a management and oversight role with 5+ years of internal audit experience and regulatory agency engagement.
  • Strong knowledge of banking industry, internal audit methodologies, risk management, and governance principles with familiarity in business operations and regulatory environments.
  • Masterful at relationship building with strong influential and decision-making skills.
  • Excellent communication skills with all levels of external and internal clients including external audit firm, internal audit co-source partners and regulatory bodies.
  • Proven time management and problem-solving skills with the ability to organize, prioritize, and handle multiple tasks and make necessary decisions within a fast-paced environment.
  • Ability to collaborate with cross-functional teams and drive change within the organization.
  • Demonstrates initiative and the ability to work in an autonomous manner.
  • Ability to convey complex risks and issues for a broad range of audiences in a clear and concise manner while actively building consensus.
  • Maintain a clear understanding of regulatory expectations in the execution of audit work, issue validation, MRA validation, and the response to regulatory inquiries.

COMPLIANCE RESPONSIBILITIES

The employee is responsible for ensuring compliance with all aspects of job-related laws and regulations and must maintain current compliance knowledge by attending compliance related training seminars and staff meetings and by reading pertinent compliance related materials.

Job related laws and regulations include but are not limited to the following: Bank Secrecy Act (BSA); Office of Foreign Asset Control (OFAC); Vendor Management; Information and Data Security; and SEC regulations related to corporate governance and disclosure.

Heritage Bank of Commerce is an Equal Opportunity Employer committed to diversity and inclusion. We do not discriminate on the basis of race, color, ethnicity, religion, sex, sexual orientation, gender identity, national origin, marital status, genetic information, disability, Veteran status, or any other characteristic protected by Federal, state or local laws.

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