Adds value to and improves the Bank’s operations by planning, organizing, directing, and controlling financial, operational, and compliance audits for the Bank. Analyzes a wide variety of the Bank’s functions, including highly technical and complex processes, and recommends improvements in efficiency and compliance with regulations. Recommends feasible solutions and operational changes. Facilitates the communication of audit results through written reports and oral presentations directly to management and the Bank's Board Audit Committee. Performs supervisory duties of department staff. Responsible for the overall extended audit functions for Macatawa Bank Corporation.
• Develop a comprehensive risk-based annual plan for overall extended audit program, including assessing areas of changing risk and required reviews with a public company perspective. Closely monitor 404 key controls to ensure they are aligned with key risks.
• Perform independent financial, compliance, and operational audits through review of records and control procedures, providing summary reports of results and recommendations of changes to internal controls and systems. This includes developing a cutting edge program of regular audit procedures and activities for branches and departments (including Trust). Analyze and apprise complex operational processes, such as allowance for loan losses, and provide an objective opinion on the efficiency and effectiveness of the operation and notes any process improvement opportunities.
• Prepares organizes, accurate, and competent work papers ensuring that documentation clearly supports the conclusions regarding each audit objective. Work papers are required to meet the standards and expectations of external audit firm and regulators.
Extended Audit Functions
• Attend all scheduled Audit Committee meetings, present annual audit plan and risk assessment, as well as audit reports, finding, and recommendations. Meet with co-source third party professionals, and external auditors to review extended audit results. Present status update to Audit Committee, including high risk findings update and status. Continuous enhancement of Audit Committee communications.
• Work closely with external independent audit team through year-end processes and 404 remediation. Provide information and assistance as necessary. Work closely with the Bank’s Management Team to identify root cause of any issues and recommend changes to controls or processes to expedite resolution.
• Manage relationship with third party professionals conducting internal IT audits. Responsible for setting scope, interacting with management regarding preliminary findings, and ensuring a smooth process and timely final report.
• Primary contact for audit related questions from Examiners.
• At the request of management, provide training/education to departmental employees on internal controls, business risks, and other requested topics.
• Perform other duties as assigned, including involvement with departmental and Bank-wide improvement teams and task forces, training initiatives, and other program support activities.
• Perform administrative duties as required (budget reporting, invoice approval, etc.)
• Manage and/or conduct special projects as requested by management.
• Maintain cutting edge awareness of auditing standards, principles, concepts, and financial/accounting rules, regulations, and practices.
• Have ongoing awareness of industry standards and trends related to auditing various departments within the Bank. Maintain adequate knowledge of departmental processes and procedures to ensure effective and efficient internal audits.
• Responsible for the mentoring and development of Audit staff.
MORE ABOUT THE ROLE:
Must be self-starter, motivated, and able to work independently. Must be detail-oriented, in the context of the “big picture”. This position requires a great deal of coordination to work with the management and staff throughout the Corporation and maintain positive relations with all teams. Requires good independent working and planning skills and strong communication skills in order to interface effectively with Audit Committee and others. Written communication skills must be above average to effectively provide written audit findings, recommendations, the annual planning process, and development of new procedures, etc.