VP, Director of Internal Audit

Description

The Director of Internal Audit is responsible for building and leading the Bank’s Internal Audit function. This role serves as an independent and objective resource to evaluate and improve the effectiveness of risk management, internal controls, and governance processes across all operational and functional areas of the bank. Reporting directly to the Board Audit Committee, the Director of Internal Audit will develop and execute an internal audit strategy and plan aligned with the bank’s strategic goals, regulatory requirements, and risk profile.

Essential Functions:

• Build and implement a comprehensive internal audit program tailored to the Bank’s size, structure, and regulatory obligations.
• Assess and secure the internal audit resources required to effectively execute the audit plan and meet internal audit objectives.
• Establish audit policies, procedures, and methodologies to support risk-based auditing and compliance assurance.
• Lead the planning, execution, and reporting of audits across all operational and functional areas.
• Evaluate the adequacy and effectiveness of internal controls, regulatory compliance, and the reliability of financial and operational reporting.
• Identify control gaps and process inefficiencies and recommend actionable improvements.
• Collaborates with internal audit leaders from the Bank’s parent company to align on audit strategy, share best practices, and leverage available support, training, and subject matter expertise.
• Serve as a strategic advisor to the Board Audit Committee by delivering insights on audit findings, emerging risk trends, and internal control effectiveness to support informed oversight and decision-making.
• Develop and maintain a dynamic internal audit plan that is assessed and updated as the Bank evolves; present quarterly updates and formal audit reports to the Board Audit Committee to ensure alignment with the Bank’s changing risk profile and business model.
• Monitor management’s remediation of audit findings and follow up to ensure timely resolution.
• Partner with executive leadership, risk management, compliance, and external auditors to coordinate efforts and promote a strong risk and control culture.
• Provide insight on emerging risks, internal control best practices, and process enhancements.
• Build and maintain strong relationships with external stakeholders, including regulators, external auditors, and industry peers, to stay informed on regulatory expectations, audit trends, and best practices in the financial services sector.

Skills:

• Deep understanding of internal controls, risk assessment, audit standards, and governance frameworks.
• Strong knowledge of U.S. banking laws, regulations, and compliance requirements 
• Exceptional communication and interpersonal skills with the ability to engage and influence senior leadership and regulators.
• Independent, objective, and strategic thinker with strong judgment and integrity.

Requirements

• Bachelor’s degree in Accounting, Finance, Business, or an equivalent combination of education and experience in a related field. Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or equivalent professional certification required.
• 10+ years of progressive experience in internal auditing, public accounting, or a related financial services role.
• Experience in the banking industry and familiarity with regulatory expectations for internal audit functions (e.g., OCC, FDIC, Federal Reserve).
• Demonstrated experience building or significantly evolving an internal audit function.

About IFB

Idaho First Bank Idaho First Bank (IFB) is a full-service state-chartered community bank established in October 2005 and headquartered in McCall, Idaho. Known for its People First and Community First motto, the Bank serves the greater Southwest Idaho and Central Oregon communities. Branch locations include McCall, New Meadows, Eagle, Ketchum, Nampa, Boise, Bend and Hailey. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information, visit us at www.idahofirstbank.com

Equal Opportunity Employer