Chief Audit Executive

Position Summary
Busey Bank is looking for a Chief Audit Executive who will lead the third line of defense and be responsible for establishing an internal audit (IA) framework that is commensurate with the size and complexity of First Busey Corporation. This role provides independent assessments to the Audit Committee of the Board of Directors and senior management on the design and operating effectiveness of internal controls, implementation, execution, and governance of the Bank's core business processes and risk management framework. Acting with a duty to foster stability, integrity, and efficiency, this executive remains focused on independent and objective assurance to evaluate and improve the effectiveness of risk management, control, and governance processes.

This position reports directly to the Audit Committee of the Board of Directors and administratively to the FBC Executive Chairman & Chief Executive Officer.

Duties & Responsibilities

Strategic Oversight & Leadership Responsibilities:

• Foster a culture of continuous improvement.
• Build and maintain a high performing team through the sourcing and development of talent.
• Ensure alignment of the audit team's strategy and objectives with that of the Company.
• Ensure that the internal audit framework and policy aligns with organizational objectives, regulatory requirements and global IIA (Institute of Internal Auditors) standards.

Lead Risk Assessments, Audit Planning, Execution, and Improvements:

• Conduct necessary risk assessments to identify and prioritize key risks facing the organization. Proactively consider new and emerging risks for the company and industry.
• Lead the development and execution of an agile, risk-based audit plan for key components of the business, including operational and financial activities, regulatory risks, and internal controls.
  • Annual audit planning and management of IA resources and financial budget.
  • Maintain, track, monitor, and validate all IA findings, recommendations, and related corrective action plans, including the validation of regulatory examination corrective action plans.
  • Evaluate the adoption of new controls and monitor progress on unresolved matters until resolution. Drive escalation as appropriate.
• Proactively identify improvements to audit standards and techniques to enhance efficiency and quality.
• Benchmark audit practices against industry standards and range of practice to identify areas for improvement.
• Continuously expand proficiency in data analytics and technology, to augment audit testing; explore opportunities for continuous monitoring and standardized test plans.

Stakeholder Communication & Relationship Management:

• Provide strategic and technical leadership to IA and provide counsel on the control environment, regulatory compliance, and risk management to the Audit Committee, Board of Directors, and management.
• Develop and maintain value-added business partner relationships with all levels of management, regulators, and external auditors.
• Communicate audit discoveries, collaborating with management to devise and implement pragmatic and timely solutions for strengthening internal controls.
• Create focused and value-added reports, documents and/or presentations for management.
• Ensure timely communication of trends and emerging issues that could impact the organization.

Other Responsibilities:

• Oversee the Bank's Whistleblower policy and process.
• Lead and manage change in an M&A and organic growth environment.
• Attend and participate in various committee meetings, as appropriate.

Education & Experience

Knowledge of:

• Audit or Risk Leadership Experience in a large bank setting (>$20B)
• Regulatory guidance including but not limited to: Dodd-Frank Act, Homeowners' Loan Act, Fair Lending laws, and/or SEC, Federal Reserve, FDIC, FFIEC, CFPB, UDAAP, and Federal regulatory bodies and applicable supervisory guidance.
• Expert knowledge of internal auditing standards and techniques required to perform audits.
• The full spectrum of regulatory examinations and other supervisory engagement and processes

Ability to:

• Enhance an existing framework and grow commiserate with the needs of the Company.
• Lead the development of audit plans and oversee the execution of the plans.
• Lead conversations with external consumer banking regulators (FDIC, Fed, CFPB), Senior Executive Management and the Board
• Collaborate with key resources and stakeholders.
• Lead with a practical, hands-on leadership style
• Effectively communicate across all levels of the organization
• Set a climate for high performance.

Education & Experience:

• Requires bachelor's degree in accounting, finance, economics, or a related field.
• 12+ years of previous internal audit and supervisory experience within the Financial Services Industry, which includes a Bank of >$20B in Assets.
• One of the following professional qualifications is required: CIA, CISA or CPA
• Experience leading and directing work with both internal and external partners in a highly collaborative environment; Previous regulatory experience (FDIC, FRB, IDFPR) with working knowledge of guidance and requirements required.
• Experience building, executing, and communicating audit or risk outcomes to senior management committees and Board of Directors.

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.