Job Title: Internal Audit Specialist (FDIC Consent Order Remediation)
Location: Chicago, IL
Company: Global Bank
Position Overview:
We are seeking a highly skilled Internal Audit Specialist to join our team in Chicago, IL. The ideal candidate will play a pivotal role in assisting the bank in addressing a consent order issued by the Federal Deposit Insurance Corporation (FDIC). This individual will work closely with various departments and stakeholders to ensure compliance with regulatory requirements and to implement remediation plans effectively.
Responsibilities:
- Collaborate with internal stakeholders to understand the requirements outlined in the FDIC consent order.
- Conduct thorough audits of business processes, policies, and procedures to identify areas of non-compliance with regulatory standards.
- Develop and implement remediation plans to address deficiencies identified in the consent order.
- Monitor progress of remediation efforts and provide regular updates to senior management and relevant stakeholders.
- Coordinate with external auditors and regulatory agencies to facilitate audits and examinations related to the consent order.
- Review and assess the effectiveness of internal controls to mitigate compliance risks.
- Provide guidance and support to business units on regulatory compliance matters.
- Stay current with changes in regulatory requirements and industry best practices related to banking and financial services.
- Prepare comprehensive reports documenting audit findings, recommendations, and remediation efforts for presentation to management and regulatory agencies.
- Participate in special projects and initiatives as assigned by senior management.
Qualifications:
- Bachelor's degree in finance, accounting, business administration, or related field. Advanced degree or professional certification (e.g., CPA, CIA, CISA) preferred.
- Minimum of 5-7 years of experience in internal audit, regulatory compliance, or a related field within the banking or financial services industry.
- Strong understanding of banking regulations and regulatory requirements, particularly those set forth by the FDIC.
- Experience in conducting audits, risk assessments, and developing remediation plans.
- Excellent analytical skills with the ability to identify issues, analyze root causes, and recommend effective solutions.
- Exceptional communication and interpersonal skills, with the ability to effectively collaborate with cross-functional teams and communicate complex concepts to stakeholders at all levels.
- Detail-oriented with strong organizational and project management skills.
- Ability to work independently and manage multiple priorities in a fast-paced environment.
- Proficiency in Microsoft Office Suite and audit software/tools.
- Knowledge of the banking industry's internal control frameworks and best practices.
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