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