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Internal Auditor

Company: The Paducah Bank & Trust Company
Location: Paducah
Posted on: August 4, 2022

Job Description:

General Summary/Purpose
The Internal Auditor is responsible for protecting the interests of the shareholders. The purpose of the Internal Auditor position is to provide an independent assessment of procedures and operations and to report all findings and recommendations to the Audit Committee of the Board of Directors. The Internal Auditor is expected to understand risk and risk management techniques, identify and analyze business processes, key risks and critical controls, and evaluate control design adequacy; perform or supervise audit testing; and document work performed in conformance with internal audit policies and procedures.

Key Duties and Responsibilities

#1 Conduct Internal Audits
Conduct or supervise the conduct of internal audits of all Bank functions and areas as determined appropriate based on an annual risk assessment. Test adequacy and effectiveness of policies, procedures, and controls through inquiry and observation, documentation review and detailed audit tests. Review all work performed by the Internal Audit Assistant. Perform follow-up procedures on all audit findings to verify that stated corrective actions have been implemented and are functioning as intended. Review all workpapers prepared by the Internal Audit Specialist to ensure accuracy and completeness.

#2 FDICIA Implementation
Lead the bank through the process of implementation and meeting ongoing requirements of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA Part 363). This process includes planning, documenting the control environment, selecting key controls over financial reporting, testing to assess whether controls work properly, and reporting. Communicate with the external auditors throughout the process to ensure they agree with key controls and internal testing approach.

#3 Manage Bank Exams and Outsourced Audits
Manage all outsourced audit relationships related to information security, the Bank's 401(k) and Employee Stock Ownership Plan, compliance, Fair Lending, ACH, and the financial statement audit. Responsibilities include preparing and distributing requests for proposals, obtaining and reviewing engagement proposals and contracts, submitting contracts to the Audit Committee for selection and approval, scheduling onsite and remote testing, coordinating the gathering of all necessary data, assisting the outside auditors as needed, conducting testing procedures as requested, and overseeing the management response process to ensure that meaningful and timely final reports are received and submitted to the Audit Committee.

#4 Audit Reporting and Follow-Up for Audit Committee
Prepare reports by audit area detailing audit findings, recommendations, and management responses. Prepare follow-up reports for all audit findings. Prepare and maintain quarterly reports of pending audit findings until resolved.

#5 Monitoring of System Reports
Review reports for the core processing system related to employee rights and security related transactions, Review employee activity reports when requested by the Human Resource Department. Internal Audit experience in $1B+ commercial bank(s)
More than eight years' Internal Audit experience
Advanced education/training in a recognized field of specialization, e.g. CPA

Keywords: The Paducah Bank & Trust Company, Clarksville , Internal Auditor, Accounting, Auditing , Paducah, Tennessee

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