Audit Director

Farmers and Merchants Bank of Long Beach•Seal Beach, CA

1d•Hybrid

About The Position

The Audit Director is accountable and responsible for directing and overseeing the Bank’s internal audit function, ensuring compliance with regulatory standards, and aligning audit practices with regional bank expectations. The Audit Director supports the Chief Audit Executive (“CAE”) and works with the Senior Audit Mangers/Audit Managers covering corporate, compliance, financial, operational, information technology areas as well as Professional Practice in the completion of annual audit plan and strategic goals. This role is responsible for setting the strategic direction of Internal Audit, ensuring conformance with the Internal Audit Charter, Global Internal Audit Standards, and applicable regulatory expectations. The Audit Director fosters a culture of ethical conduct and collaboration, partners with business leaders, Audit Committee, regulators and external auditors to provide independent assurance over the effectiveness of governance, risk management, and internal controls. This role drives continuous improvement through the integration of advanced technologies to strengthen risk assessment, enhance process efficiency, and support data-driven decision-making.

Requirements

Sound judgment, integrity and commitment to ethical behavior
Ability to maintain confidentiality and treat sensitive information with discretion
Excellent interpersonal and communication skills
Extensive knowledge of internal auditing principles, risk management, and internal control framework (e.g., COSO), and Global Internal Audit Standards
Strong understanding of banking regulations and supervisory expectations.
Strong Ability to lead and manage teams through subordinate managers.
Strong analytical, judgment, and decision-making skills.
Detail oriented, accurate, and organized
Strong time management skills
Ability to provide periodic feedback to audit team
Knowledge of risk management principles and practices in banks
Ability to work independently, with limited direction and guidance
Ability to effectively manage multiple projects simultaneously
Flexible and able to adapt quickly to changing work environments/priorities and tight deadlines
Excellent written and verbal communication skills, including Audit Committee-level presentations.
Experience establishing policies and procedures with enterprise-wide impact.
BS or BA Degree required, preferred majors in Accounting, Business Administration, Finance, Information Systems or Economics or equivalent work experience required
Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Information Security Auditor (CISA) or other related certification required
Ten (12) or more years of financial service industry experience required in: internal audit, public accounting, risk management, regulatory agency or related experience
Thorough knowledge of Global Internal Audit Standards, COSO and bank regulatory standards
Supervisory experience required
Large/Regional banking experience required

Nice To Haves

Previous “large firm” public accounting experience a plus
Experience with audit software is preferred
Experience in data analytics preferred
Work experience with IT Audit knowledge preferred
Working knowledge of AuditBoard, Jack Henry (Silverlake/Xperience), Verafin, Quantivate, COGNOS a plus
Assist the Chief Audit Executive with recruiting, developing, and mentoring audit team
Foster and maintain group spirit and team morale
Provide periodic coaching to audit team as needed
Effectively manage through complex issues and relationships
Perform other duties as assigned by CAE or the Audit Committee
Working knowledge of IT processes and principles preferred

Responsibilities

Develops, maintains, and executes a risk-based internal audit plan covering Corporate, financial, operational, compliance, and IT risks.
Directs and oversees audits designed to evaluate internal controls, risk management practices, and compliance with applicable laws and regulations.
Works with executive and business management to identify key risk areas, emerging risks, audit priorities, and operational efficiencies.
Plans and oversees audits of business units and functional areas to assess the adequacy and effectiveness of controls.
Reviews, approves, and communicates audit results, including observations, root causes, and risk-rated findings.
Presents audit results, themes, and trends to senior management and the Audit Committee.
Develops and oversees recommendations and management action plans designed to mitigate risk and protect Bank assets.
Ensures timely tracking, validation, and reporting of audit issue remediation are well managed.
Coordinates audit activities with external auditors and regulatory examiners to promote coverage efficiency and reduce duplication of effort.
Ensures the Internal Audit function complies with the Internal Audit Charter, Global Internal Audit Standards, and regulatory guidance.
Provides strategic leadership, direction, and goal setting for the Internal Audit department aligned with Bank strategies and objectives.
Establishes and maintains Internal Audit policies, procedures, and methodology with long-term impact on the effectiveness of the control environment.
Leads, develops, and evaluates audit management and staff, including hiring, performance management, and personnel actions.
Provides supervision and development of audit staff, oversight to maintain audit quality and consistency, and management of external audit partnerships and co-coursing arrangements.
Supports the Chief Audit Executive with Audit Committee reporting, regulatory interactions, and special projects as assigned.
Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, Anti-Money Laundering OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security and privacy requirements. Acts as the control point for the office to ensure that all CIP, BSA, OFAC requirements, procedures and time frames are met.