Director, Audit

SUMMARY:

The Director, Audit manages all elements of the planning, coordination, and execution of the annual audit plan for Mutual Bancorp and subsidiaries, primarily Fidelity Bank. Independently plans and conducts a variety of complex financial, operational and compliance audits in conformance with Internal Audit Standards and established Bank objectives, policies and procedures, and applicable Federal and State regulations.

ESSENTIAL JOB FUNCTIONS & RESPONSIBILITIES:

Operations and Staff Supervision

1. Directs and supervises the Audit Department in the absence of the Chief Auditor. Provides strategic thinking and excellent leadership skills.

2. Establishes and maintains strong working relationships with the management team. Seeks to collaborate with first and second line of defense team members on audit practices and potential risks and control weaknesses, as well as develop recommendations for improvement.

3. Supervises Audit Department staff as needed. Performs employee performance reviews when applicable. Provides training, advice and guidance to Audit staff.

4. Member of additional committees and task groups as required.

5. Independently performs operational, financial and compliance audits of complex areas across the organization.

Internal Audit Program

1. Supervises, plans, and performs financial, operational, and regulatory compliance audits. Performs all audit work in compliance with Internal Auditing Standards.

2. Assists in the development, management, and implementation of the bank wide risk methodology to deliver applicable elements of the Internal Audit Program.

3. Assists in planning, organizing and implementing Internal Audit Program. Develops audit plans and programs to properly test the Bank's financial information, internal controls, records and systems.

4. Reports to the Chief Auditor. In his/her extended absence, reports to and communicates with the Board of Trustees' Auditing Committee Chairman.

5. Communicates the results of audits and reviews. Collaborate with management to create remediation plans for internal control weaknesses.

6. Prepare and review Audit Committee meeting materials, attend meetings, and write or review minutes. Assist the Chief Auditor, as requested, to communicate with the Board of Trustees' Auditing Committee.

7. Assists with monitoring auditing standards within all departments; recommending updating of internal audit work programs as required. Accordingly makes or supervises necessary changes to the audit program and schedule to address risk exposures.

8. Prepare and review Audit Committee meeting materials and draft minutes.

9. Maintains working knowledge of industry activity and regulatory compliance developments in system auditing and control techniques. Attends various seminars and workshops. Recommends procedural changes as needed to support prescribed requirements. Maintains professional certification.

Audit Consulting

1. Recommends and consults with the Bank Management on potential risks, control objectives, and recommendations for improvement. Assists the Chief Auditor, as requested, to advise and consult with the Audit Committee and management on various findings, issues, and FDICIA control requirements.

2. Provides assistance and direction to external auditors and Federal and State bank examiners.

3. Provides guidance and support to the various banking departments in the implementation of policy and procedures so as to (a) ensure adequate internal controls are in place (b) ensure compliance with regulatory standards and (c) to optimize system capabilities. Also provides support and assistance in resolution of issues.

4. May assist in conducting due diligence investigations for audit consultants for the Audit Committee and Senior Management.

Board of Trustees Audit Committee

1. Assists the Chief Auditor, as requested, with the organization of various Audit Committee reporting and materials.

2. Assists the Chief Auditor, as requested, with the development and delivery of training and education materials and programs to Audit Committee members.

Special Projects

1. Assists the Chief Auditor, as requested, with special investigations for senior management and the Audit Committee.

2. Assists in due diligence and selection of technology systems and operating procedures on new strategic bank initiatives to assure compliance with internal audit requirements.

Risk Management and Measures

1. The Internal Audit Program is based on a risk methodology, which identifies levels of risk within the bank. The Director of Audit will assist with the development and annual updating of the risk methodology and assist with its implementation. Accordingly, higher risk areas are audited more frequently.

2. All risk elements within risk categories for each bank area/function must be evaluated and scored on at least an annual basis and more frequently if needed. A risk matrix for each auditable entity is utilized. The Internal Audit department reviews the enterprise risk management evaluation of Credit risk, Financial Reporting risk, Legal risk, Liquidity risk, Market risk, Operational risk, Regulatory risk and risk to the Bank's reputation. The Audit department independently assesses ea

QUALIFICATIONS:

EDUCATION & CERTIFICATIONS:

* Bachelor's degree in business administration, finance, accounting and related subjects is required.

* Master's degree and/or professional certification required (e.g. Certified Public Accountant (CPA), CBA (Certified Bank Auditor) or CIA (Certified Internal Auditor)).

KNOWLEDGE, SKILLS & ABILITIES:

Must have minimum of 10 years relevant audit experience within the banking/credit union environment with demonstrated experience managing complex audit assignments.

Possess at least five years of management experience.

Excellent analytical and problem-solving abilities along with strong communication skills.

Ability to effectively manage auditors and oversee critical audit programs.

Thorough understanding of risk and identification of exposures.

Ability to work independently and exercise sound professional judgment.

Extensive knowledge of the banking industry.

Ability to demonstrate a commonsense approach in communicating and interacting with management on all audit subjects and related degrees of risk and materiality.

May be required to effectively interact with members of the Audit Committee on key audit subjects and related degrees of risk and materiality.

A tactful demeanor to balance audit findings with risk during audit exit meetings with management.

Ability to solve problems and recommend an immediate course of action. Ability to multi-task.

Ability to coach/mentor and teach/guide all levels of management through their implementation of well-documented and tested internal control matrices.

Must have cyber security awareness to protect the digital environment, the Bank, and customers.

Must have basic knowledge of information technology systems.

Must have strong computer skills in Word and Excel.

Must have advanced knowledge of all Federal and State banking regulations.

Advanced understanding of risk management and internal control principles.

High-level abilities to solve problems and recommend an immediate course of action. Ability to multi-task.

Proven track record in handling confidential matters in a discrete fashion.

Ability to be flexible and work collaboratively with peers, Senior Management, external auditors and bank examiners.