at First Mid Bank & Trust in Champaign, Illinois, United States
Position: Chief Audit Officer
Location: Champaign, IL
Job Id: 3187
# of Openings: 1
LOCATION: Qualified candidates must be located or willing to relocate within the First Mid territory. to review our current list of locations. Please note that we will be adding branch locations in the Rockford-IL, St. Charles-IL, Belvidere-IL, McHenry-IL, Beloitte-WI, and Janesville-WI areas as well.
This is a high-level position within the First Mid organization with the incumbent being a direct report to the Chairman of the Audit Committee. The incumbent will also maintain a liaison with the CEO of the organization as well as professional working relationship with operating and executive personnel.
The audit function is an independent activity operating within each subsidiary of the Holding Company. This function provides the Board of Directors an independent evaluation of the: 1) adequacy, effectiveness, and efficiency of the systems of control within the organization and the quality of ongoing operations and of the financial reports which are relied upon by management and the Board; and 2) effectiveness of the operational procedures across all departments in complying with the various federal and state laws and regulations. The findings of the reviews performed by the Audit Department will be reported directly to executive management and the Audit Committee.
Responsibilities include, but are not limited to
Coordinates Audit Committee activities with the Audit Committee Chair and monitors adherence to all requirements of the Audit Committee Charter.
Gathers and prepares information to present to the Audit Committee and meets with the Audit Committee independently on at least a quarterly basis and privately with the Audit Committee Chair as needed.
Develops and implements a comprehensive risk-based annual internal audit plan that leverages the results of the Enterprise Risk Management risk assessments compiled by the Chief Risk Officer. Also ensures the department internal audit plan satisfies all requirements by external auditors, federal regulators, state regulators, and industry guidelines.
Maintains relationships with executive committee members and meets regularly to update updates, assess risks in respective areas to ensure appropriate and adequate audit coverage, and to promote an audit-aware relationship for successful real-time continuous audit efforts.
Leads and oversees the internal audit work, Section 404 of the Sarbanes-Oxley Act of 2002 testing, quality control procedures for loans sold on the secondary market and requested special reviews that are performed by all personnel in the department and all outsourced internal audit relationships to ensure work is completed in an efficient, timely, and effective manner.
Completes final review of workpapers and internal audit reports prepared by department personnel prior to issuance.
Monitors all audit-related findings for trends or thematic issues and ensures appropriate remediation efforts by management and follow-up procedures by internal audit personnel are occurring in a timely manner.
Reports results of all internal audit department reports and findings and all findings communicated by external entities, such as regulators, external auditors, and outsourced internal auditors to Executive Management and the Audit Committee.
Is a member of or attends applicable Board-approved Committees, including, but not limited to: Acquisition, Business Continuity, Compliance, Disclosure, ESG, Executive, Information Security, and SOX Section 404 Steering.
Based on analysis of resource requirements, evaluates and hires outsourced internal audit vendors as needed.
Plans and coordinates efforts with external and outsourced internal audit vendors in order to facilitate their review process and provide support where needed.
Acts as liaison between external and outsourced internal auditors and other Company personnel.
Manages, oversees, and monitors working relationships with external and outsourced internal audit vendors, regulators, and legal counsel.
Evaluates and recommends technology needs and solutions for the department.
Approves budget and all expense items for the department, including, but not limited to training and technology needs.
Involvement with internal fraud investigations and reporting to appropriate entities.
Administrator of Whistleblower Program for Bank in accordance with requirements of the Audit Committee Charter.
Completes annual FDICIA reporting in accordance with requirements of 12CFR Part 363.
Handles hiring and administrative matters of direct reports and assists with administrative matters concerning other personnel within the department.
Conducts monthly one on ones and team meetings with direct reports, quarterly full team meetings, and semi-annual skip level reviews.
Maintains relationships with peer industry groups.
Completes required training associated with... For full info follow application link.
Equal Opportunity Employer