Chief Audit Executive

Description: First New York Federal Credit Union is strengthening its governance and assurance framework by establishing an in-house Chief Audit Executive (CAE). The CAE is the senior leader responsible for building and directing an independent, risk-based internal audit function that provides objective assurance over governance, risk management, internal controls, regulatory readiness, and the effectiveness of key programs and processes. The CAE reports functionally to the Supervisory Committee to preserve independence and objectivity, with an administrative reporting line to the President/CEO. The role serves as a trusted advisor to the Supervisory Committee and executive leadership while maintaining the independence required to evaluate management practices, controls, and remediation efforts. The ideal candidate combines strong audit judgment, financial-services and regulatory knowledge, executive presence, and the ability to build a practical, disciplined audit program in a lean environment. This leader will coordinate internal and external assurance activities, expand audit coverage, track issues through closure, and provide clear, actionable insights to the Supervisory Committee and management.

Develop, maintain, and execute a risk-based internal audit plan aligned with the credit union’s risk profile, strategic priorities, regulatory expectations, and Supervisory Committee oversight responsibilities. Establish the internal audit charter, methodology, quality standards, documentation practices, and reporting protocols, subject to Supervisory Committee approval. Maintain organizational independence and objectivity, including direct and unrestricted access to the Supervisory Committee, records, personnel, systems, and physical properties relevant to audit work. Provide independent assessments of the design and operating effectiveness of internal controls, governance practices, and risk management processes. Escalate significant control weaknesses, overdue remediation, emerging risks, and matters requiring Supervisory Committee attention. Audit Planning and Execution Lead or oversee financial, operational, compliance, information technology, lending, vendor management, business banking, and other risk-based audits. Expand audit coverage in areas that may receive limited review, including commercial lending, broader lending activities, vendor management, business banking, and third-party service providers. Coordinate audits of key third parties and specialized programs, including Netbank and CUBG, as applicable. Assess audit findings, identify root causes and recurring themes, and develop clear recommendations that are proportionate to risk. Use internal resources, co-sourced providers, or subject‑matter specialists as appropriate to deliver the approved audit plan. Regulatory Examinations and External Assurance Coordination Serve as the primary internal audit liaison for NCUA examinations and support examination readiness, information coordination, management communication, issue tracking, and response preparation. Coordinate the annual financial statement audit and other external audits, including planning, information requests, status reporting, and follow‑up. Lead or support requests for proposals and the evaluation of external audit and specialized assurance providers. Promote coordinated assurance and reduce unnecessary duplication among internal audit, risk management, compliance, external auditors, and regulators while preserving each function’s responsibilities and independence. Issue Management, Monitoring, and Trend Analysis Establish and maintain a centralized process to track management responses and corrective actions arising from internal audits, external audits, and regulatory examinations through validated closure. Report the status, aging, risk, and recurrence of open findings to management and the Supervisory Committee. Identify and communicate trends in control performance, audit results, and emerging risk indicators. Present relevant analysis of delinquency, charge‑offs, watchlist loans, and other credit‑risk indicators to support Supervisory Committee oversight. Coordinate member complaint reporting on behalf of the Supervisory Committee, including consistent reporting and escalation of material themes. Supervisory Committee Support and Executive Communication Coordinate and support Supervisory Committee meetings, including agendas, materials, presentations, minutes or action‑item follow‑up, and communication with presenters and advisors. Provide clear, concise, and timely audit reports and executive‑level presentations that distinguish facts, risk implications, root causes, and recommended actions. Advise the Supervisory Committee on the adequacy of audit coverage, the independence and performance of the internal audit function, and significant governance or control matters. Build constructive relationships across the organization while preserving the professional skepticism, confidentiality, and independence required of the role. Communicate effectively with regulators, external auditors, executive management, and the Board or Board committees, as appropriate. Internal Audit Function Development Build a scalable internal audit operating model, including annual planning, resource allocation, audit universe development, risk assessment, engagement supervision, reporting, and follow‑up. Evaluate and recommend appropriate audit technology, data analytics, and continuous monitoring capabilities. Develop the future staffing, co‑sourcing, and capability roadmap for the internal audit function as organizational needs mature. Establish a quality assurance and improvement program and periodically assess the function against applicable professional standards and regulatory expectations. Promote a culture of accountability, continuous improvement, ethical conduct, and sound risk management.