Internal Audit Manager, Professional Practices

About Us

How This Role Impacts Live Oak and its People

The Internal Audit Manager, Professional Practices plays a pivotal role in ensuring the success of the Internal Audit function by continuously enhancing audit methodology and process to meet regulatory expectations and industry standards, increasing Audit’s perceived and actual value, and driving a culture of continuous improvement. The position is responsible for managing or contributing to various Internal Audit activities including methodology alignment with SR 13-1 and IIA standards, quality assurance, risk assessment and audit plan development, stakeholder reporting, audit system administration, and departmental development and training. The position is also responsible for helping shape the culture and risk posture of the bank through strong communicative relationships with stakeholders across the organization.

What You’ll Do at Live Oak

• Help develop and maintain the overall Internal Audit framework and methodologies to align with regulatory expectations (SR 13-1) and IIA Standards.

• Oversee Internal Audit’s Quality Assurance and Improvement Program (QAIP), including internal and external quality assessments, to ensure quality and consistency in execution of audit activities.

• Identify opportunities to improve the Internal Audit function by implementing new technologies, process enhancements, and best practices.

• Assist in the development and maintenance of an ongoing comprehensive internal audit risk assessment activities to identify and prioritize key areas of risk.

• Assist in the development of a risk-based internal audit plan to assess key operational, financial, compliance, and technological activities and internal controls.

• Actively monitor the organization and recommend adjustments to the audit plan, as necessary, in response to changes in the organization’s business, risks, operations, programs, systems, and controls.

• Assist in providing periodic communications to senior management and the Audit Committee regarding the audit plan, audit findings, recommendations, remediation efforts, and other internal audit matters.

• Serve as an administrator for the organization’s Audit Management software and contribute to innovation in the use of technology in the audit process.

• Provide ongoing training to internal audit staff regarding audit methodologies, new auditing standards, techniques, and best practices.

How You'll Do It

• Maintain awareness of internal audit expectations set forth by regulatory bodies and the Institute of Internal Auditors (IIA) and align company practices accordingly.

• Participate in continuing education courses to stay abreast of internal audit best practices and maintain professional certifications.

• Collaborate with company personnel, internal audit resources, and external auditors as needed to ensure necessary audit coverage and assurance services.

• Evaluate internal audits to determine if executed according to internal procedures and in accordance with industry best practices.

• Help oversee the execution of audit procedures performed by outsourced internal audit service providers, including ensuring methodical documentation of workplans, testing results, conclusions, and recommendations.

• Help facilitate effective communication of audit activities, results, and issue follow-up to key stakeholders.

• Maintain open and collaborative relationships with bank personnel to stay abreast of organizational changes and impacts on the company’s control environment.

• Utilize various information sources and data to effectively monitor areas of heightened organizational risk or concern.

• Assist as needed during exams, investigations, or other external reviews.

Required and Preferred Experience

Required:

• Six to ten years of banking, auditing, or other relevant experience related to the area of responsibility.

• Certified Internal Auditor (CIA) certification

Preferred:

• Experience in a dynamic and highly regulated bank Internal Audit department.

• Experience in developing and implementing internal audit methodologies.

• Experience performing activities related to an audit Quality Assurance and Improvement Program (QAIP), including internal and external quality assessments.

• Meaningful experience auditing the following aspects of a banking environment:  Governance, Risk Management, Model Risk, Financial/Regulatory Reporting, ALM, Deposits/Lending/Wire Operations, Vendor Management, Human Resources, Payroll, Digital Transformation, Strategic and FinTech Partnerships, Credit Risk, Technology, Information Security

Skills

• Proven business sense and problem-solving, project management, and analytical skills.

• Ability to manage multiple priorities and drive projects to completion with minimal guidance.

• Strong knowledge of audit principles, practices, and methodologies including risk assessment, and audit documentation.

• Ability to work independently with minimal oversight, as well as within a team.

• Ability to clearly articulate messages through written and verbal communication.

• Ability to identify root causes of problems and formulate potential solutions.

• Proficiency in computer applications, such as Microsoft Office software products.

Certifications

• Certified Public Accountant (CPA), Certified Internal Auditor (CIA), and/or Certified Information Systems Auditor (CISA) are highly desirable

Education

• Bachelor’s degree in accounting, business, or related field; or equivalent education and related training or experience.

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.

• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.

• Respect: Treat everyone wi.th courtesy, politeness, and kindness.

• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

For a detailed overview of our employee benefits please visit: http://www.liveoakbank.com/careers/

Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at careers@liveoak.bank

EEO is the Law

Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.