POSITION: Director of Internal Audit

DATE: April 15, 2020

Reports To: Audit Committee

LOCATION: Colorado Springs, CO

About Us

Farm Credit of Southern Colorado is a financing cooperative that focuses on providing credit to farmers, ranchers, and rural Americans in Southern Colorado. At Farm Credit of Southern Colorado, we believe that agricultural financing is a full-time job. As a network of locally managed lending offices, we have a unique understanding of agricultural business challenges and opportunities. We know ag. It’s what we do. It’s where we live.

Farm Credit of Southern Colorado is the premier agricultural lender in southern Colorado, supporting agricultural producers, farmers and ranchers. Farm Credit of Southern Colorado helps the entire Agricultural community including production agriculture, processers and suppliers as well as the rural economies throughout the state.

Farm Credit of Southern Colorado is a part of the Farm Credit System, a nationwide network of borrower-owned lending institutions and specialized service organizations. Since 1916, the Farm Credit System provides loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives and has more than $320 billion in assets. With our 60 staff serving 1,500 customers in 31 Colorado counties, Farm Credit of Southern Colorado is a thriving institution with $1.2 billion in assets.

We are seeking a Director of Internal Audit to lead the audit role, assuring the highest quality credit processes. Reporting directly to the board’s Audit Committee, this critical role partners with management and the Audit Committee to safeguard the organization’s credit quality.

POSITION PURPOSE

The Director of Internal Audit role is a senior-level position whose primary responsibility is to implement and manage an internal/external audit program for the Association. They provide review and appraisal of the soundness, adequacy, effectiveness, efficiency, and proper application of credit, accounting, financial, and operational controls; assessing and mitigating Association risk. The Internal Auditor maintains compliance standards, works with the Farm Credit Administration, CoBank, external auditors, and regulations while working closely with the CEO and management team, and reports to the Audit Committee Chair.

KEY ACCOUNTABILITIES

Audit Plan Management

• Works with the Audit Committee as well as management to develop a comprehensive Association risk based annual audit plan and internal audit program
• Participates in ERM Risk Assessment process to identify areas to include in the annual audit plan
• Oversees performance of audit assignments, completion of action plan items, reviews work papers and audit reports, and validates completion of assignments
• Complementary to external audits, assists management in the identification and correction of weaknesses
• Verifies third-party reviews are completed thoroughly, analyzing the results and determining next steps
• Risk-rates auditable areas
• Provides guidance and assistance in identification and assessment of Association risk factors

Audit Committee and Board Reporting

• Communicates ongoing risks and audit engagements to Audit Committee
• Provides periodic updates and issues reports stating conclusions or recommendations to the Board of Directors, Audit Committee, and other appropriate levels of management
• Completes special assignments and other duties as directed by the Audit Committee, CEO or management
• Creates and sustains a positive working relationship with co-workers, the general public, regulators, executives, Board members, and customers

Audit Coordination

• Plans and directs all internal and external audit activities
• Acts as the main point of contact with external auditors to serve as the liaison between Association management and external auditors to coordinate and negotiate findings and offer recommendations on revisions to final reports
• Consults with and advises management when addressing audit findings and aids in planning remediation efforts
• Participates in short-and long-range planning based on findings from internal and external audits; develops and coordinates with management to implement projects and programs to assist in accomplishing the Association’s established goals
• Conducts follow-up reviews of financial, operational, or regulatory compliance deficiencies noted during audits
• Works closely with process owners to remedy gaps in controls and confirm that corrective action plans are followed

QUALIFYING CHARACTERISTICS

• BA degree in Accounting, Agribusiness, Business, Finance, Information Systems, Management or related field
• 5+ years of experience in conducting and managing audits, risk management, accounting, finance, information systems and/or management
• Certified Public Accountant required; Certified Internal Auditor certification highly preferred
• Expert knowledge of general audit, risk management and internal controls principles and Sarbanes Oxley (SOX 404 or ICFR)
• Expert knowledge of generally accepted accounting principles, information systems and security controls, credit analysis, and regulatory requirements
• Strong oral and written communication skills, as well as the ability to work effectively with multiple groups and teams across the organization
• Strong skills in processing complex, detailed information in an accurate and thorough manner as well as abilities in analyzing complex technical data by using logic and quantitative reasoning

It is the policy of Farm Credit of Southern Colorado to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Farm Credit of Southern Colorado will provide reasonable accommodations for qualified individuals with disabilities.

NOTE ON THE SELECTION PROCESS

The Audit Committee of Farm Credit of Southern Colorado will be working with FCC Services to manage the selection process. Leading the process is Jay Lux, Vice President of Organizational Development at FCC Services.

FINAL DATE FOR APPLICATION: May 15, 2020

Interested candidates should email a cover letter and resume to [email protected].

If you have any questions, please contact Jay Lux, FCC Services, at 651.982.4568 or [email protected]