Specialist, Internal Audit

The Specialist, Internal Audit is a key member of the Internal Audit Team and executes its mandate through positive and collaborative relationship with Fairstone Bank of Canada management, employees, and external stakeholders. This role supports providing assurances and value-added recommendations over risk mitigation activities through a disciplined internal audit approach and supports the Internal Audit management team in planning, supervising, and executing internal audit activities.

The Specialist, Internal Audit is responsible for the timely and accurate completion of assigned audit work in a manner consistent with the Standards for the Professional Practice of Internal Auditing, along with the professional standards of conduct of the Institute of Internal Auditors.

In this role, the Specialist, Internal Audit will interact with financial and operational management personnel across the Bank and will be exposed to financial and business operations. The Specialist, Internal Audit assumes a leadership role in evaluating the effectiveness of controls, identifying ineffective practices, and recommending measures for improvements to policies and procedures.

BUSINESS UNIT DESCRIPTION:
Internal Audit’s mandate is to provide independent, objective assurance that Fairstone Bank of Canada’s system of internal controls for risk management and governance processes are designed and operating effectively. Internal Audit helps the Bank accomplish its objectives by bringing a systematic and disciplined approach to evaluate and recommend improvements for the effective management of risks and compliance with applicable laws and regulations.

In order to carry out its mandate with objectivity and impartiality, Internal Audit is independent of activities audited and from the day-to-day internal control processes of the Bank. The scope of internal audit covers all areas of the Bank and all levels of businesses, functions, and management.

To provide for the independence of the Internal Audit Department, the Chief Internal Auditor has direct and unrestricted access to the Audit Committee of the Board of Directors. The Chief Internal Auditor reports functionally to the Audit Committee and administratively to the Chief Executive Officer.

Internal Audit helps the Bank in accomplishing its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the enterprise’s control environment.

Key Responsibilities
- Performing audits of significant business processes, risk models, and control systems mitigating enterprise risks, via the effective execution of planning, fieldwork, reporting and issue resolution of assigned audit engagements, while ensuring adherence to International Professional Practices Framework (IPPF) and internal quality standards.
- Provide recommendations, when appropriate, to increase efficiencies of the Bank’s processes and controls and to improve the quality/efficiency of the Internal Audit service.
- Perform reviews of the design and effectiveness of internal controls over financial reporting, operational activities and technology activities and provide recommendations on the opportunities of improvements identified and assist business process owners in defining expected controls.
- Prepare audit reports in good form, with recommendations, appraisals, or analyses that will assist the Business Unit Managers with the proper discharge of his or her responsibilities.
- Assess the adequacy of management’s action plans for addressing and correcting audit findings and issues.
- Develop and maintain effective interpersonal relationships with staff and management. Build partnerships within audited areas.
- Ensure timely and adequate two-way communication before during and after each review to ensure mutual understanding of audit scope, process and results, to eliminate “surprises”, address client concerns, and add value throughout the audit.
- Provide oversight and/or advisory reviews of special bank projects and initiatives, as instructed.
- Provide Direct Assistance to External Audit’s as part of their financial statements audit. This includes executing Test of Controls, performing walk throughs and alternate procedures and completing specified procedures as assigned.
- Assist Senior Manager, Internal Audits on Audit Methodology, OSFI Supervisory Reviews, Risk Assessment, Audit Universe maintenance and other internal audit support work.

Qualifications/Requirements
- Bachelor's degree in accounting, finance, business administration or computer science and a professional designation uch as CPA, CISA, or CIA.
- Minimum of 3 to 5 years of experience in internal/external auditing within the Financial Services industry.
- Strong understanding of processes within Financial Services and Lending activities is preferred.
- Ability to communicate in both English and French is preferred.
- Experience in a technology-based environment, including experience in und