Are you ready for an exciting new, fast paced work opportunity?
Fremont Bank offers a very attractive employment package that includes:
Up to $5000 Tuition Reimbursement for continued education
10 Paid Bank Holidays
Paid Sick Time
An ESOP (Employee Stock Ownership Plan)
401K Plan with an employer match
READY TO LEARN MORE & APPLY?! Keep Reading!!!
Fremont Bank founded in 1964, is one of the oldest independently owned banks in the Bay Area and is one of the top rated mid-tier banks in the nation. Voted a Top Workplace for 2020 and for the past ten consecutive years, Fremont Bank has an immediate opening for a VP, Chief Auditor in Hayward, CA.
Fremont Bank is a close-knit family-owned Bank, highly focused on the needs of its clients and the communities it serves. The Chief Auditor manages the Bank's internal audit function and reports to the Audit Committee of the Board of Directors, and administratively to the President and Chief Executive Officer. The person in this position needs to collaborate, communicate, and partner effectively with business partners across the Bank to support a culture of excellence, strong risk management and compliance in achieving the Bank's strategic objectives.
Role and Responsibilities
Establish and manage the goals and objectives of the Internal Audit Department; provide leadership to ensure independence, objectivity, effectiveness and integrity of the audit function, and a continuing culture of compliance across the Bank.
Perform a bank-wide risk assessment, including soliciting input from Senior Executives, to develop a risk-based annual audit plan; stay abreast of changes to the Bank's risk profile, which may require an adjustment to the annual audit plan.
Manage the internal audit staff and third-party providers of internal audit services, including the Bank's credit review program. Manage the audit vendor selection, engagement, development of the scope and objectives for outsourced audits, ensure smooth and effective execution of outsourced audits to meet audit quality standards and expectations, establish and achieve internal audit co-sourcing objectives, and follow-up on proper remediation of audit issues noted. Perform a lookback review when a significant issue is identified by a regulatory examination or outside audits that should have been identified by Audit; report to the Audit Committee on the review results, including any corrective actions required.
Serve as the primary contact for the Bank's annual External Audit; communicating and coordinating with Bank Management to ensure a smooth and cost-effective review of the Bank's financial statements and financial reporting controls (FDICIA Review). Also support the achievement of bank objectives related to regulatory examinations and investor reviews.
Manage, monitor and ensure effective execution of the annual audit plan, scope and schedule of planned audits; ensure audits include the review of all key bank risks, assess the adequacy and effectiveness of mitigating controls, including proper accounting and financial controls, compliance with regulatory requirements, and adequate controls over supporting technologies utilized. Ensure effective communications of audit results, the adequacy of management's remediation plans to address reported findings, and validate adequacy of management corrective actions taken.
Selection, training, coaching, mentoring, and evaluating the internal audit staff to ensure they can carry out their assignments in a capable, professional and effective manner.
Identify and implement ongoing enhancements and best practices into the Audit Program to remain contemporary, relevant, and efficient.
Coordinate, prepare, and present the monthly Audit Committee agenda, including the monthly Internal Audit Report for presentation to the Audit Committee and Executive Management. Also, provide the Board with a quarterly Audit update. Keep the Audit Committee informed of emerging and leading practices in internal auditing.
Support the Bank's Policy Review Program to ensure policies are reviewed and updated timely, approved by the responsible Board Committees, and posted timely to the Bank's Policy Library. Also, monitor management's timely completion and presentation of mandatory management risk assessments and integrative reports.
Participate in various regular Board and Board Committee (ERM, Compliance) meetings, Senior Executive Meetings, Quarterly Strategic Update Meetings, weekly Organizational Leadership calls to stay current on developments across the Bank, as well as to provide risk management and internal control perspective in discussions, as appropriate.
Inform the Audit Committee Chair and President/CEO of any whistleblower complaints received, and recommend next steps. Perform an investigation of the complaint as warranted, and issue an investigation report of the results to the Audit Committee and responsible Senior Executives.
Build an effective relationship with the President/CEO, which permits the sharing of significant emerging problems in an honest, constructive and proactive manner.
Maintain an effective succession plan for continuity of the internal audit function, including development plans for potential successor(s).
Advise departments in evaluating and recommending improvements to business practices, risk and control advisory services, as requested by management.
Maintain a current working knowledge and understanding of industry "best practices" regarding audit techniques, internal controls; developments in financial accounting and reporting, information technology and security risks and mitigating practices, fraud prevention/detection, etc.
Prepare annual Audit Department budget and monitor to ensure expenses, particularly for outsourced audits, remain within budget.
Perform any additional duties or special projects as assigned by the Audit Committee, Board of Directors, or President/CEO.
S. Degree in Accounting or Business
Minimum 8-10 years of experience, demonstrating progression in knowledge, experience, and leadership in a mid-size or large bank
MBA or Master's degree desirable
Professional certification highly preferred (CIA/CPA/CISA, etc.)
Strong leadership and management skills to effectively lead, motivate, and inspire the Audit Team; establish effective plans, priorities, and implementation. Strong communication skills: written, verbal, and presentation skills
Ability to work collaboratively with management and associates, so Audit is viewed as a business partner, while maintaining independence and objectivity
Thorough knowledge and ability to apply risk assessment and audit concepts and principles to achieve internal audit program objectives
Ability to assess and report on complex audit matters, special investigations, and projects
Possess strong knowledge and understanding of banking processes and controls, audit procedures, banking laws and regulations, financial accounting and reporting requirements, FDICIA/SOX 404, information and digital systems and technologies
Demonstrated ability to work in teams on projects or processes that add value to the Bank
Proficient in use of office software applications and tools, such as MS Word, Excel, and PowerPoint
Ability to multi-task with superior organizational skills
Internal Audit Certification highly preferred
Knowledgeable in application of data analytics to achieve audit objectives
Expand use of technology to make the audit process more effective and efficient
Involvement in community activities
Job Location: Hayward, CA
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Fremont Bank is a leading retail and commercial bank, California mortgage lender, award-winning top philanthropic business and consistently ranks in the Bay Area News Group's "Top Bay Area Workplaces." Founded in 1964, Fremont Bank is one of the oldest independent family-owned and managed banks in the state and focuses on personalized service for clients.