Director, Affirm Bank Internal Audit

Overview

The organization is seeking a Head of Internal Audit to lead the Internal Audit function for its Industrial Loan Company (ILC) bank. Reporting directly to the Bank’s Audit Committee, this leadership role is responsible for establishing and managing a risk-based internal audit program that provides independent assurance on governance, risk management, and internal controls to the Board of Directors, Audit Committee, and senior management.

This position involves developing the audit infrastructure during the bank’s de novo phase and evolving it post-launch to meet FDIC and state regulatory expectations for deposit and lending sponsorship businesses. The role requires collaboration across Risk, Compliance, Operations, and Finance to ensure comprehensive audit coverage and continuous improvement.

Responsibilities

Internal Audit Program Development

• Establish and maintain a comprehensive, risk-based internal audit program aligned with the bank’s strategy and regulatory requirements.
• Develop the audit charter, policies, procedures, and methodology to ensure independence and objectivity.
• Oversee the creation and execution of the annual audit plan based on risk assessments and evolving business conditions.
• Partner with audit counterparts to manage third and fourth party risk.

Audit Execution and Oversight

• Lead and conduct audits across key functional areas.
• Evaluate the adequacy and effectiveness of internal controls, risk management, and governance processes.
• Provide independent recommendations for control enhancements, process improvements, and risk mitigation.
• Oversee documentation, issue tracking, and follow-up of audit findings to ensure timely resolution.

Board and Regulatory Reporting

• Report directly to the Audit Committee of the Board, providing regular updates on audit results, trends, and emerging risks.
• Prepare materials for Board and committee meetings to ensure transparency and actionable insights.
• Serve as liaison with external auditors, examiners, and regulators, coordinating responses to findings or requests.
• Support the Audit Committee in fulfilling oversight responsibilities related to risk, control, and audit.

Risk and Control Advisory

• Collaborate with executive management to evaluate risk management and internal control frameworks.
• Advise management on control design and efficiency while maintaining audit independence.
• Support integration of risk-based thinking and control discipline across all departments.
• Identify opportunities to enhance governance and control maturity during early-stage bank development.

De Novo and Pre-Opening Readiness

• Lead the design and documentation of the Internal Audit framework as part of the de novo application process.
• Establish audit coverage for pre-opening activities, including policy development, system implementation, and vendor onboarding.
• Develop readiness assessments and Board materials to support FDIC and state regulatory reviews.
• Build and train an audit function capable of scaling as the bank grows post-launch.

Requirements

• Minimum of 10 years of internal audit, risk management, or control experience in a regulated banking environment.
• Proven experience establishing or leading an internal audit program for an FDIC-supervised institution.
• Strong understanding of lending-sponsorship banking and consumer deposits; experience with a lending-sponsor bank or ILC preferred.
• Knowledge of FDIC examination processes and interagency audit guidance preferred.
• Demonstrated ability to assess risk, communicate effectively with senior management and the Board, and deliver practical audit insights.
• Experience managing internal and co-sourced audit relationships.
• Exceptional integrity, judgment, and attention to detail.

Core Competencies

• Deep understanding of risk assessment, internal controls, and audit standards.
• Ability to design and execute a scalable, risk-based audit program.
• Strong collaboration skills with management while maintaining independence and objectivity.
• Excellent analytical, communication, and report-writing skills.
• Strategic thinker capable of identifying control gaps and operational improvement opportunities.

Compensation & Benefits

• Base Pay Grade: S
• Equity Grade: 14
• Base pay ranges (annual):
  • USA Pacific (CA, WA, NY, NJ, CT): $245,000 - $325,000
  • USA Sapphire (all other U.S. states): $217,000 - $297,000
• Base pay is part of a total compensation package that may include monthly stipends for health, wellness, and technology spending.
• Benefits include 100% subsidized medical coverage, dental and vision for employees and dependents.
• Eligibility for equity rewards offered by the parent company.
• Competitive vacation and holiday schedules.
• Employee stock purchase plan enabling discounted share purchases.

Please note that visa sponsorship is not available for this position.

Location

This is a remote-first role within the United States. Candidates can work from almost anywhere within the country of employment. Some occasional in-office work may be required depending on role proximity to assigned offices.

Additional Information

The organization is committed to providing an inclusive interview experience and will provide reasonable accommodations to candidates with disabilities. For U.S. positions that could be performed in Los Angeles or San Francisco, qualified applicants with arrest and conviction records will be considered in accordance with local fair chance hiring ordinances.