VP, Internal Audit

Posting #: 26-20
Reports to: YNCU’s Board of Directors (Audit Committee) and administratively to Chief Executive Officer

Are you a community-minded person that’s passionate about investing locally and giving back to your community? Do you like working with other awesome and like-minded people toward a common goal?

Here at Your Neighbourhood Credit Union (YNCU), we are all about putting our money where our mouth is and keeping our dollars local and investing back into our members, staff, and community; and we are looking for people like you to join our team.

The Role
The Vice President (VP), Internal Audit serves as the senior executive responsible for establishing and overseeing the internal audit function of the credit union. This role ensures the organization’s operations and processes comply with applicable laws, regulations, policies, and best practices. The VP, Internal Audit provides independent, objective assurance and consulting services designed to add value, improve operations, and protect the integrity, efficiency and resilience of the credit union’s systems and controls.

This position provides objective assurance to Management and the Board on the effectiveness of all controls to ensure key business risks are being managed appropriately and that the systems of internal control are operating effectively. This includes the evaluation of internal controls, the application of risk reduction strategies and other governance activities to create value, stability and sustainability for the Credit Union.

In accordance with FSRA’s Sound Business and Financial Practices Rule, the VP, Internal Audit is head of the Internal Audit Oversight Function. As such, the VP, Internal Audit, will have unfettered access to the Board of Directors or a suitable board committee.

Key Responsibilities:    

 Audit Strategy and Leadership

• Develop and execute a risk-based internal audit plan aligned with the credit union's strategic goals and regulatory requirements.
• Lead the internal audit department, including hiring, training, and supervising staff and ensure high quality work to meet audit requirements.
• Communicate audit objectives, plans, findings, and recommendations to senior management and the Audit Committee.
• Provide strategic leadership and guidance to all functional areas of the Credit Union related to audit and controls.
• Lead the continual improvement of the Internal Audit program through staff education, staff awareness training and internal audit skill development as appropriate.
• Provide leadership to assigned Team Members through effective goal setting, delegation, and communication, and drive the achievement of goals in responsible business areas.
• Ensure the execution of established goals with Team Members and monitor progress toward and sustainability of achieving set goals.
• Conduct performance reviews as required, and formulate and implement corrective actions as needed
• Facilitate the design of career development and training plans for each direct report to include coaching, motivation and support

Audit Execution

• Oversee operational, financial, IT, and compliance audits across all areas of the credit union.
• Ensure timely and thorough audit reporting and follow-up on findings and corrective actions.
• Evaluate the adequacy and effectiveness of internal controls, governance, and risk management processes.
• Leverage data analytics within and across audits to gain deeper insights into the root-causes and potential impacts of audit issues to make operational recommendations.

Compliance and Risk Management

• Monitor changes in laws, regulations, and industry best practices that impact audit practices.
• Collaborate with risk management, compliance, and external auditors to ensure coordinated assurance activities.
• Act as a strategic advisor to senior leadership on control, compliance, and risk issues.
• Assist with regulatory requests in partnership with risk management.

Reporting and Communication

• Provide regular reports to the Board/Audit Committee on audit findings, risk exposures, and the status of the internal audit plan.
• Maintain open communication with senior leadership to provide insight into audit issues and risk mitigation strategies.
• Ensure transparency and objectivity in audit reports and communications.

This position is for an existing vacancy within our team.

What we are looking for

•  Bachelor’s degree in Accounting, Finance, Business Administration, or related field (required)
• CPA, CIA, or CISA certification (strongly preferred)
• Advanced degree (MBA or similar) is a plus
• Excellent communication and interpersonal skills.
• Ability to lead through influence in a matrixed, fast-paced environment.
• Minimum of 10 years of progressive experience in auditing, with at least 5 years in a senior leadership/internal audit role
• Leadership and people management experience with a proven ability to lead teams
• Experience in financial services, preferably in a credit union or banking environment
• Knowledge of internal audit standard, control frameworks, risk management and regulatory requirements
• Strong knowledge of Credit Unions Act and Regulations, GAAP, internal control framework and risk management
• Expert knowledge of applicable government regulations and legal requirements
• Sound knowledge of economic and financial trends
• Effective understanding and use of Microsoft Office (Outlook, Excel, Word, PowerPoint)
• Must have a valid Ontario driver's license and reliable available vehicle
• Must be bondable

Why work at YNCU?

YNCU employees get to be a part of the growing credit union movement and help us get the word out on why banking locally is so important. We’re your friendly, helpful, and financially savvy neighbour who provides tailored financial services to our members, supports small businesses, creates local jobs, and gives back to causes that matter. Through our Good Neighbours Employee Volunteer Program and Monthly Staff Donation Draws, we even let you choose the causes we donate to and support. YNCU is recognized for the following:

• B Corp Certified
• Competitive Compensation, Incentive Programs and Benefits
• 37.5-hour work week
• 7% matching pension
• Benefits are 100% paid for by YNCU
• Wellness Initiatives including our Employee and Family Assistance Program, premium membership for Calm, Consult+, and LIFT Virtual Fitness
• Training and Development Opportunities
• Community Sponsored Events Employee and paid Volunteer opportunities
• Opportunities to get involved with fun and meaningful committees
• Free banking account
• Discounted Employee Rates

Salary range: $165,000-175,000
The compensation offered to the successful applicant for this role will be determined by the candidate’s relevant skills and experience and internal equity. More information about our total rewards package will be available during the hiring process.

YNCU strives to be a diverse workplace reflective of the communities that we live in. We are committed to a diverse workforce and invite everyone to apply. YNCU makes hiring decisions solely on qualifications, merit, and business needs at the time.

YNCU is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, colour, sex, gender, religion, sexual orientation, national origin, disability, pregnancy, or any other protected characteristic as outlined by national, provincial, or municipal laws. This applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, and training.

Your Neighbourhood Credit Union will provide accommodations for persons with disabilities, where needed, to support their participation in our recruitment process. Please contact Human Resources at careers@yncu.com.