Director Internal Audit

Who we are:

Cornerstone Capital Bank was formed in October 2022, currently has over $330 million in capital and $2.3 billion in total assets, and arises from the combination of mortgage industry giant Cornerstone Home Lending and community banking standout Roscoe State Bank. You'll be on the front end of working for an innovative, large community bank that is a leader in mortgage lending and community banking. Cornerstone has a national mortgage footprint, operating in 46 states and originating over $8 billion in loans annually. Cornerstone also is a large mortgage servicer and operates a subsidiary insurance agency. Our commercial banking division consists of four retail locations in Texas, is expanding in digital banking significance and growing its middle-market commercial and real estate lending portfolios. Cornerstone's strategy is to grow organically in all business lines and through mergers and acquisitions.

Who we are looking for:

We are looking for an active, hands-on, engaging leader with significant audit experience that aligns with Cornerstone's business operations. Internal Audit plays a critical role providing assurance to the Bank's stakeholders and value-added support to the senior leadership team. The Director of Internal Audit is expected to bring a vision of dynamic leadership to the organization, staying on top of new and emerging risks and developing innovative approaches to assess and mitigate risks, and provide assurance over processes and controls operated by the Bank.

The objective of this role is to ensure the Company's internal controls are adequate by developing and executing an audit program that is commensurate with the size and complexity of Cornerstone Capital Bank and ensure the Bank's internal audit program is effective and meets regulatory and industry standards.

What you'll do:

• Establish and maintain internal audit procedures and lead evaluations of mortgage origination, mortgage servicing, banking and insurance activities in accordance with established internal controls, financial industry standards, and federal/ state laws and regulations.
• Understand operational and compliance risks and evaluate the adequacy and effectiveness of controls. Test internal controls to identify control deficiencies, violations of laws or regulations and deviations from policies and procedures.
• Develop and apply an enterprise risk assessment methodology which consists of evaluating the audit universe, assigning risk scores to audit universe items based on pre-determined risk factors and risk factor ratings, and using the resulting data to establish an annual internal audit plan.
• Liaise between the bank and external parties, such as auditors and regulators, and lead or assist with the gathering of information, scheduling, and planning of these engagements.
• Manage relationships with co-source audit vendors to ensure the audit approach is comprehensive in scope and carried out appropriately.
• Monitor the status of outstanding audit issues and validate proper implementation prior to closure.
• Organize and oversee audit planning, resource allocation (including the use of external resources), budgeting and engagement fieldwork.
• Build strong professional relationships with senior leadership and provide value-added support.
• Regularly evaluate the current risk and control environment, staying informed of new and emerging risks as well as key control issues, trends and developments.
• Coordinate audit efforts with Risk Management to ensure that activities of the second and third line of defense are not duplicative and that all key risk exposures are addressed.
• Present regular updates to the Audit and Risk Committee of the Board of Directors and contribute materials for the quarterly Audit and Risk Committee reports.
• Participate (as applicable) in advisory and strategic projects to support the Bank's growth plans and to help identify and manage emerging risks.
• Promote a culture of sound governance and effective internal control across the organization.

• Perform other related duties as assigned.

What you'll need to be successful:

Success in this job relies on your time management skills, organization, and positive attitude. In addition, you'll need the following qualifications:

• Bachelor's degree in Accounting, Finance or related field of study;
• Ten (10) years of banking, mortgage company and/or other financial services industry and at least seven (7) years of experience directing audits, risk management or compliance programs and managing teams.
• Experience reporting to Boards and Board subcommittees.
• Significant experience in a large mortgage production and servicing environment.
• Strong knowledge of bank regulatory requirements.
• Ability to manage multiple tasks and deliver high-quality deliverables within deadlines.
• Demonstrated ability to implement continuous improvement and innovation in audit tools and techniques
• Experience with the ongoing requirements of the Federal Deposit Insurance Improvement Act, as implemented by 12 CFR Part 363, requiring documentation and testing of internal controls over financial reporting.
• Experience and understanding of information technology general controls and audit practices.
• Strong verbal and written communication skills, including the ability to effectively negotiate and resolve conflicts.
• Flexible working approach and able to manage multiple stakeholders and meet deadlines
• Self-motivated and proactive with a focus on continuous professional development

Certificates, Licenses, Professional Designations

• Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Certified Public Accountant (CPA) is preferred.

Reporting Structure:

Reports functionally to the Audit and Risk Committee of the Board of Directors and administratively to the Chief Risk Officer.

What we offer:

Because we recognize and reward hard work, we offer a competitive salary, a full benefits package, and the potential for a performance-based bonus.

What to do next:

If Cornerstone sounds like the place for you (and if you have the qualifications, drive, and passion to match), we invite you to become a member of our winning team! And remember, once you're part of our Cornerstone family, we'll continue to invest in you as a valuable asset in our company. As many of our team members can tell you, there's something special about working at Cornerstone.