Description

Who We Are

We have the fundamental belief that we, as an organization, can and will improve lives. Rooted in the centuries-old credit union philosophy of people helping people, we maintain a simple premise. Those we interact with will receive equal and just treatment, devoid of intolerance, false judgment, racism, or discrimination of any kind. We must not accept less if we are to fulfill our mission, "We Improve Lives." This mission empowers us to serve the greater good and to make a difference in our world. Our cooperative structure creates a cycle of mutual assistance towards the common goal of the financial well-being of members.

At Black Hills Federal Credit Union (BHFCU), we’re committed to improving the lives of our members every day, and we look for people who share that passion. Our onboarding includes an orientation program with ongoing training to help staff further their career at BHFCU by building on their existing strengths.

General Purpose: 

Under direction of the Supervisory Committee, the VP will lead the continuous development and management of the internal audit program in alignment with Board objectives and risk tolerance, NCUA regulations, and BHFCU’s expectations for operational integrity and ethical practices. The VP will act as a liaison between the Supervisory Committee and the Credit Union and operate with independence from Credit Union Management.

Essential Duties/Responsibilities:

• Recommend governance and risk parameters that will ensure the adequacy of controls across the entire organization. Recommend strategy to ensure adherence to auditing standards and regulatory requirements.
• Collaborate with the Supervisory Committee and Credit Union Management on a regular basis, advocating for a strong control environment and supporting policies and procedures that enhance internal audit effectiveness.
• Identify any potential risks within internal controls. Conduct ongoing evaluations of the Program’s effectiveness and provide regular updates to the Supervisory Committee.
• Maintains a comprehensive audit program, verifying its alignment with Board’s and management’s risk tolerances, business strategies, and key objectives that will inform the creation of the annual audit plan.
• Develop and execute a risk-based internal audit plan for all aspects of our operations. Collaborate with Supervisory Committee and Management to define audit scope. Create and execute detailed audit test plans of financial, operational, compliance, and technical controls to ensure timely and accurate completion of overall objectives and initiatives. Verify compliance with federal and state regulations and established BHFCU policies and procedures.
• Coordinate thorough and independent internal audits to assess the effectiveness of internal controls, risk management, and compliance with industry standards and regulations, as well as BHFCU policies and procedures. Collaborate with Management to recommend different options to address any exposure to risk in a manner that will manage the risk while balancing operational efficiency.
• Manage audit projects from start to finish, including scope definition, fieldwork, and reporting, ensuring timely completion.
• Responsible for directing all internal audit department activities to achieve its objective to effectively execute and report on its annual audit plan and ensure compliance with IIA standards as well as BHFCU policies and procedures, to include being accountable to the internal audit charter, progress reporting, and a quality assurance and improvement program.
• Establish and maintain strong professional relationships with key stakeholders, including executive management (while maintaining appropriate independence), the Supervisory Committee, regulators, and external auditors.
• Responsible for the coordination of external audits. Work with auditors to coordinate pre-work and facilitate internal meetings. Continually assess risks, findings, and recommendations of external auditors and examiners, and changes in policies and regulations to effectively prioritize audit coverage.
• Serve as the primary liaison between external auditors and credit union management.
• Investigate any allegations or suspicions of fraud within the organization as defined by the NCUA and provide a report to the Supervisory Committee.
• Evaluate audit management responses and ensure follow-up was completed as stated.
• Manage the allocation of people and financial resources for audit functions. Maintain audit software and manage user access to confidential audit and examination reports, including user training and procedures on how to utilize the audit management platform.
• Responsible for creating and maintaining Supervisory Committee materials and attending monthly meetings of the Supervisory Committee. Represents the interests of the Supervisory Committee by maintaining ongoing communications with executive management. Notify the Supervisory Committee of pertinent problems or irregularities.
• Work with Supervisory Committee to create reports for the Board of Directors and Executive Management on audit coverage and the results of audit activity. Report to Supervisory Committee any action taken by management to correct deficiencies.
• Perform root cause analyses of audit findings and recommend sustainable corrective actions to mitigate risks and enhance operational efficiencies.
• Provide consultative support to management in evaluating risks.
• Coordinate and confirm staff responses for formal member complaints received from NCUA. Inform the Supervisory Committee regarding the receipt and status of the complaint.
• Provide consultation to executive management on general accounting and internal controls, compliance laws and regulations, and the protection of physical assets as requested.
• Recruit, build and retain top audit talent. Lead a high-performing internal audit team, ensuring continuous development and knowledge enhancement, fostering a culture of integrity, accountability, and professional excellence.
• Responsible for managing and directing people and/or resources with fairness and consistency to meet departmental goals. Promote teamwork and encourage process improvement, while creating a positive work environment where employees feel recognized and valued.
• Responsible for evaluating employees, determining talents and development opportunities.  Working with and mentoring them to improve performance, enhance skills, and create loyalty to the credit union. Conduct timely employee performance appraisals and coaching, and effectively resolve employee issues and performance concerns.
   

Other Duties/Responsibilities:

• Review upcoming and new regulations to determine potential impact to the organization. Identify potential risks and work with functional areas to mitigate risk.
• Keep abreast of financial trends relating to auditing and internal controls by reading pertinent materials. Survey other financial institutions' methods and programs. Continually upgrade auditing resources and techniques.
• Travel to branches to audit operations may occasionally be required by the Supervisory Committee or requested by President.
• Oversee insider activity monitoring, to include tracking of employee and official loans and deposits, employee and related-party fraud alerts, employee/related-party prohibited transactions and quarterly regulatory reporting.
• Identify and oversee quality control functions to be included in the audit plan.
• Perform other duties as assigned by the Supervisory Committee.

Job Knowledge:

• Knowledge of organization's policies/procedures and Credit Union's service philosophy.
• Advanced knowledge of laws and regulations affecting Credit Union operations as well as Credit Union auditing procedures.
• Proficient in applying internal auditing standards, procedures, and techniques to perform internal audits.
• Proficient in accounting principles and techniques to work extensively within financial records and reports, as well as working knowledge of accounting, economics, commercial laws, taxation, and finance.
• The ability to effectively communicate with all levels of the organization and to outside parties.
• The ability to collaborate with management on resolving audit concerns by providing regulatory or other standards that support the necessary changes.
• Knowledge of the credit union's in-house computer system, Internet and any relevant software programs.
• Knowledge of management techniques to enhance staff productivity and to maintain positive staff morale.
   

Job Qualifications (Skills):

BHFCU is committed to working with its employees to reasonably accommodate them with the physical aspects of the position. The following list outlines the physical considerations that are normally encountered in this job.          

• Vision: A sighted person to read and interpret financial data and to verify funds.
• Speech/Hearing: Ability to communicate verbally and in writing with directors, staff, members and appropriate outside parties.
• Manual Dexterity: Ability to perform necessary computer-related input.
• Physical Mobility: Limited mobility required. Travel may be occasionally required. Ability to work flexible hours.
   

Job Qualifications (Ability):

• Ability to maintain objectivity, freedom from conflicts of interest and independence in both fact and appearance, while still interacting positively with co-workers, management, and the public.
• Ability to understand and follow complex written and verbal instructions, functions, and procedures and disseminate that knowledge in a clear and understandable format to others.
• Ability to express oneself clearly and concisely, both orally and in writing.
• Ability to produce a high volume of work in a timely manner that is accurate, complete, and of high quality.
• Ability to prepare and maintain confidential records and reports.
• Ability to analyze out of balance situations, statistics and financial data, gather, assemble, correlate, and interpret facts and develop solutions.
• Ability to remain flexible and efficient in a fast-paced environment.
• Ability to make intelligent and quick decisions, work well under pressure, and when faced with unexpected occurrences or delays.
• Ability to gather, assemble, correlate, and analyze facts and develop solutions.
• Ability to handle multiple deadlines and detect potential conflicts.
• Ability to produce a high volume of work in a timely manner that is accurate, complete, and of high quality.
   

Job Qualifications (Education/Experience):

Education: Job requires a Bachelor's degree in Accounting, Finance, Business Administration, or a related field; Master's degree preferred.
A professional designation such as CIA, CPA, CISA, or CFE is required. Formal training should be supplemented with continuing education.
Experience: Seven years’ experience creating and managing a comprehensive audit program including experience in audit of all technical areas of a financial institution is required. Five years of prior leadership experience required.