Internal Audit & Compliance Specialist in Edina, Minnesota at Scale Bank

POSITION SUMMARY: The Internal Audit & Compliance Specialist supports the VP of Finance in the administration of the Bank's internal audit, compliance, and risk management programs. This position assists with monitoring compliance with applicable banking regulations, coordinating audits and examinations, tracking corrective actions, conducting compliance reviews, and maintaining effective internal controls. The Specialist works closely with various departments to help ensure the Bank operates in accordance with regulatory requirements, established policies, and industry best practices.

THIS ROLE IS ACCOUNTABLE FOR:

• Internal Audit & Compliance
• Regulatory Examination Support
• Policies, Reporting & Administrative Support

Accountability/Responsibilities

Internal Audit & Compliance - 50%

• Conduct in-house compliance and internal audits.
• Assist in coordinating the Bank's internal and external audit programs.
• Maintain audit schedules and track the completion of audit engagements.
• Assist with audit planning, document collection, and communication with auditors.
• Monitor audit findings and management responses.
• Track corrective action plans and verify the timely resolution of audit exceptions.
• Maintain audit reports, workpapers, and supporting documentation.
• Assist in preparing audit summaries and compliance reports for management and Board review.
• Assist in administering the Bank's Compliance Program, including Bank Secrecy Act (BSA)/Anti-Money Laundering (AML).
• Conduct compliance reviews and testing to assess adherence to regulatory requirements, policies, and procedures.
• Monitor regulatory compliance and assist in identifying compliance issues and recommending corrective actions.
• Maintain compliance and internal audit schedules, testing records, and supporting documentation.
• Assist with employee training related to compliance, audit, and internal control requirements.
• Assist with risk assessments and internal control reviews

Regulatory Examination Support - 20%

• Assist in preparing for regulatory examinations and independent compliance reviews.
• Gather, organize, and provide requested documentation to examiners and auditors.
• Maintain examination tracking logs and management responses.
• Monitor the progress of corrective actions related to examination findings and recommendations.

Policies, Reporting & Administrative Support - 30%

• Assist in reviewing, updating, and maintaining Bank policies and procedures.
• Monitor policy review schedules to ensure timely updates.
• Research regulatory changes and identify potential impacts on Bank operations.
• Maintain policy documentation and revision records.
• Prepare reports related to audit activities, compliance monitoring, examinations, and corrective actions.
• Maintain tracking logs for audits, examinations, policy reviews, compliance issues, and corrective action plans.
• Assist in preparing materials and reports for management committees and Board meetings.
• Maintain confidential audit, compliance, risk management, and regulatory records.
• Assist in developing management and Board reporting related to compliance, internal audit, risk assessments, and examination findings.
• Support special projects and perform other duties as assigned by the VP of Finance and Compliance Officer.

Team Accountabilities:

• Delighting my customers
• Giving my all
• Creating a great place to work
• Making improvements
• Keeping us compliant

Supervision

This role does not have supervisory or other work direction responsibility over other employees.

OTHER DUTIES

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

EDUCATION, EXPERIENCE AND SKILLS

• Bachelor's degree in Accounting, Finance, Business Administration, Risk Management, or related field preferred.
• Two to five years of banking operations, audit, compliance, risk management, or related experience.
• Community banking experience preferred.
• Basic understanding of banking regulations, compliance or audit.
• Knowledge of internal controls and audit principles.
• Strong analytical and problem-solving abilities.
• Excellent organizational and time management skills.
• Strong written and verbal communication skills.
• Ability to manage multiple projects and deadlines.
• Proficiency in Microsoft Office applications, including Excel, Word, and PowerPoint.
• Ability to maintain confidentiality and exercise professional judgment.
• Ability to evaluate workflows, identify inefficiencies, and recommend process improvements.
• Working knowledge of banking systems preferred.