Internal Auditor

Overview

This role serves as the independent leader of the Internal Audit function, responsible for administering a comprehensive, enterprise-wide audit program that provides objective assurance on governance, risk management, and internal control effectiveness.

Operating with full organizational independence as the third line of defense, the Internal Auditor provides direct reporting to the Supervisory Committee and Board of Directors. The role evaluates risk across all lines of business, including operational, financial, compliance, cybersecurity, and vendor risk, and issues formal audit opinions to support sound governance and strategic decision-making.

This position acts as a trusted advisor to executive leadership while maintaining independence and helping ensure alignment with NCUA, IDFPR, and industry best practices.

Responsibilities

Internal Audit Execution & Oversight

• Execute a risk-based internal audit program, including audits not covered by external audit firms
• Perform branch audits and operational audits to ensure consistency, compliance, and strong internal controls across the organization
• Evaluate the effectiveness of internal controls, policies, and procedures across all business units
• Identify control gaps and provide practical, actionable recommendations that strengthen operations (not just compliance)
• Audit cannabis and hemp-related lending and deposit programs by independently evaluating:
  • management’s governance, risk management practices, and internal controls
  • due diligence processes and underwriting standards
  • transaction monitoring and compliance with applicable legal, regulatory, and policy requirements
• Audit Banking as a Service, embedded finance, and fintech partnership programs by independently assessing:
  • governance and third-party oversight controls
  • regulatory compliance
  • settlement and reconciliation controls
  • consumer protection controls
  • data integrity and information security
  • management’s monitoring of program risks
• Monitor and validate remediation of findings from internal, external, and regulatory audits

Regulatory & External Auditor Liaison

• Serve as the primary liaison for all regulatory examinations and external audits
• Coordinate interactions with:
  • National Credit Union Administration
  • Illinois Department of Financial and Professional Regulation
  • external audit partners
• Lead exam readiness efforts, including documentation, coordination, and communication across departments
• Independently track audit findings, regulatory issues, and management corrective action plans; report status and validate remediation through resolution
• Ensure consistent, professional, and timely communication with all stakeholders

Supervisory Committee & Board Engagement

• Partner with the Supervisory Committee Chair and members to ensure they are well-informed and supported
• Prepare and distribute Supervisory Committee meeting packets, including agendas, reports, and supporting documentation
• Coordinate and send meeting invitations and communications
• Upload and manage all materials within BoardEffect
• Attend and present at Supervisory Committee meetings and, when appropriate, the Board of Directors
• Provide clear, concise reporting that enables effective oversight and decision-making

Risk, Compliance & Governance Alignment

• Coordinate with Risk, Compliance (including BSA/AML), Fraud, Operations, and Third-Party Risk Management to inform audit planning while preserving Internal Audit independence
• Independently assess the design and effectiveness of governance, risk management, and internal controls addressing operational, credit, compliance, cybersecurity, and third-party risk
• Provide independent assurance regarding risk identification, measurement, monitoring, and control activities associated with cannabis-related banking and lending programs
• Provide independent assurance over management’s governance and oversight of Banking as a Service and fintech partnership activities, including:
  • third-party risk management
  • regulatory compliance
  • operational resiliency
  • control effectiveness
• Provide independent insight into policy effectiveness and regulatory adherence
• Support governance best practices and enhance organizational accountability and transparency

Process Improvement & Strategic Contribution

• Identify opportunities to improve efficiency, controls, and overall effectiveness
• Recommend and implement enhancements to Internal Audit processes, reporting, and workflows, providing advisory recommendations without assuming management responsibility for business-line controls or operations
• Embrace and leverage technology, automation, and data analytics to modernize the audit function
• Serve as a trusted advisor, balancing risk mitigation with business practicality
• Perform all other duties as assigned

Qualifications

Experience

• 10–12+ years of experience in internal audit, risk, or compliance within financial services (credit union or banking preferred)
• Experience independently auditing or examining governance, risk management, compliance, and internal controls supporting cannabis and hemp-related lending and deposit programs; strongly preferred
• Experience independently auditing or examining Banking as a Service, sponsor institution, embedded finance, or fintech partnership programs, including governance, third-party risk management, regulatory compliance, and settlement and reconciliation controls; strongly preferred
• Experience working with NCUA and/or state regulatory exams
• Proven ability to work directly with Boards, Supervisory Committees, and executive leadership
• Experience in complex, multi-product financial institutions ($1B+ preferred)

Education & Certifications

• Bachelor’s degree in Accounting, Finance, Business, or related field required
• Preferred certifications: CPA, CIA, CISA, CRCM, or CAMS

Core Competencies

• Strong knowledge of internal controls, audit practices, and regulatory frameworks
• Ability to independently assess the adequacy and effectiveness of governance, risk management, compliance management systems, and internal controls supporting cannabis-related banking programs and Banking as a Service partnerships
• Strong understanding of roles and responsibilities across business line management, Compliance, BSA/AML, Third-Party Risk Management, and Internal Audit within the Three Lines Model
• Exceptional organizational skills; ability to manage multiple priorities and deadlines
• Clear and confident communicator; able to translate complexity into actionable insights
• High level of independence, integrity, and professional judgment
• Proactive, solutions-oriented mindset with ability to recommend and implement change
• Comfortable navigating complex environments and evolving priorities
• Embraces new systems, technology, and continuous improvement

Preferred Qualifications

• Cannabis/hemp lending and deposit audit experience; strongly preferred
• Banking as a Service / embedded finance / fintech partnership audit experience; strongly preferred
• Experience with multi-product financial institutions ($1B+ preferred)

Compensation & Benefits

Compensation

• Full Salary Range: $120,574.45 - $180,861.67
• Hiring Salary Range: $120,574.45 - $150,718.06

Benefits

• Health, Vision, Dental Insurance
• Long-term Disability Insurance
• Critical Illness
• Life Insurance
• 401(k) match
• Profit sharing
• PTO
• Flexible Spending Account
• Tuition Reimbursement
• Pet Insurance
• Commuter Benefit

Location

While performing the duties of this role, the employee is regularly required to sit, use a computer, and communicate effectively in person and via phone or virtual platforms. Occasional travel and schedule flexibility may be required.

Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Applicable Regulations

Applicable federal and multi-state regulations including, but not limited to:

• NCUA – Federal Credit Union Act
• NCUA – Bank Secrecy Act (BSA)
• NCUA – USA PATRIOT Act
• NCUA – Gramm-Leach-Bliley Act (GLBA)
• Truth in Lending Act (TILA)
• Equal Credit Opportunity Act (ECOA)
• Fair Credit Reporting Act (FCRA)
• Electronic Fund Transfer Act (EFTA)
• Dodd-Frank Act
• Sarbanes-Oxley Act (SOX)
• NCUA – 12 CFR Part 701
• NCUA – 12 CFR Part 702
• NCUA – 12 CFR Part 703
• NCUA – 12 CFR Part 707
• NCUA – 12 CFR Part 715
• NCUA – 12 CFR Part 723
• NCUA – 12 CFR Part 741
• NCUA – 12 CFR Part 748
• NCUA – 12 CFR Part 749
• Illinois Credit Union Act
• Illinois Consumer Fraud and Deceptive Business Practices Act
• Illinois Personal Information Protection Act
• Multi-State – Data Privacy and Breach Notification Laws
• Multi-State – Unclaimed Property (Escheatment) Laws
• Multi-State – Usury and Interest Rate Laws