Internal Auditor

Merchants Bank has an opening for an Internal Auditor.  This on-site position can work from any of our Merchants Bank branch locations in Minnesota or Wisconsin.

This position is responsible for independently assessing the adequacy and effectiveness of the Bank’s internal controls, risk management practices, and governance processes. Ensures compliance with applicable laws and regulations, including FFIEC guidance and OCC expectations, and supports the Board and Executive Management in maintaining a strong control environment.

3-5 years of audit or banking experience required.  Must have a strong understanding of bank operations and products and financial statements and accounting principles.  Strong organizational, time management and independent working skills required.  Must have a high level of integrity, confidentiality, and professionalism.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Please click on Apply Now or apply in person at any Merchants Bank location. Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Primary Responsibilities and Duties: Audit Execution & Risk Assessment

Perform risk-based internal audits of bank operations as identified through the bank risk assessment Assist in the development and maintenance of the annual audit plan based on enterprise risk assessments. Evaluate the design and operating effectiveness of internal controls.

Compliance & Regulatory Oversight

Ensure adherence to:

FFIEC guidance and interagency expectations OCC safety and soundness standards Federal and state banking regulations

Identify and assess compliance risks and control gaps. Monitor regulatory changes and assess their impact on audit scope and procedures.

Reporting & Communication

Prepare clear, concise, and timely audit reports including:

Findings, root cause analysis, and risk ratings Practical, actionable recommendations

Present audit results to:

Enterprise Risk Committee Executive Management Audit Committee / Board of Directors

Follow up on audit findings to ensure timely remediation.

Internal Control & Risk Management

Evaluate effectiveness of:

Internal control framework Operational processes Fraud prevention and detection controls

Participate in enterprise-wide initiatives, including:

Business Continuity Planning (BCP) Information Security and Physical Security reviews

Identify opportunities for process improvement and efficiency

Audit Documentation & Quality Assurance

Maintain detailed workpapers and documentation supporting audit conclusions. Ensure all audits comply with Institute of Internal Auditors (IIA) standards. Support internal and external audit coordination, including regulatory examinations.

Maintain confidentiality and integrity of sensitive information.

Working Conditions Inside working environment, very low noise level. May include travel to affiliate operations as required.  Work is performed primarily sitting at a desk.  Requires a high degree of finger dexterity, very good finger-eye coordination.

Skill Requirements:

Minimum 3–5 years of audit or banking experience Strong understanding of:

Banking operations and products Financial statements and accounting principles

Ability to:

Analyze complex data and identify risks Exercise sound professional judgment and independence Communicate effectively (written and verbal) to all levels of the organization

High level of integrity, confidentiality, and professionalism Strong organizational and time management skills

Maintain independence from operational responsibilities Support a culture of compliance, accountability, and continuous improvement Participate in ongoing training related to regulatory expectations and emerging risks

Relationships Responsible to the Chief Risk Officer for clarification of position responsibilities. authority, and for proper interpretation.

Will have limited person-to-person and phone contact with customers and public, however, may at times have extensive staff contact.  Some travel is required.  Must have ability to work in a team environment and have personal manner to enhance overall professional image of the organization. Must be willing to be flexible and adaptable.  Must be prepared to learn new regulations and laws.