Director - Audit & Assurance

Position Title

Director – Audit & Assurance

Location

Chicago, IL

Time Type

Full time

Salary

Salary Range: $125,000–$200,000

Compensation Details

Base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (bonus and/or commission) and may include long-term incentives (stock awards). Benefits include comprehensive healthcare, well-being benefits, paid family leave, generous paid time off, banking perks, an Employee Stock Purchase Plan, 401(k) with company match, and may include a Non‑Qualified Deferred Compensation plan.

Position Summary

Independently examines and evaluates internal controls governing financial reporting and business processes, including review of the Company’s relevant risks, internal controls, efficiency, effectiveness, governance, performance and compliance. Provides assurance that the Company maintains effective internal controls at a reasonable cost across all business processes.

Primary Accountabilities

• Prepares MSB’s Internal Audit Plan based on identified financial and operational risks and relevant accounting requirements for each financial year and presents it to the Senior Risk Committee for review and the Audit Committee of the Board of Directors for approval.
• Manages teams of auditors specializing in financial and operational audits, as well as administrative/support personnel.
• Sponsors the Company’s Internal Audit Policy.
• Complies with professional accounting and auditing standards in the conduct of all assurance activities.
• Provides executive management and the Audit Committee an Internal Audit progress report detailing control measures analyzed, internal audit methodology, findings, recommendations, and a summary of management’s responses, actions and action dates.
• Serves as the Company’s primary liaison with federal and state regulators to ensure efficient and effective completion of onsite examinations and follow‑up.
• At least quarterly, supplies a summary of Internal Audit observations, actions taken and action outstanding to the Senior Risk Committee and Audit Committee of the Board of Directors.
• Works with subject matter experts within Risk Management to ensure efficient and effective conduct of independent reviews of operational, credit and regulatory risks.
• Ensures an appropriately broad range of internal audit coverage in consideration of the Company’s strategies, business processes, risks and controls.
• Determines the reliability and integrity of financial and operating information and the means used to identify, measure, classify and report such information.
• Reviews the systems established to ensure compliance with policies, plans, procedures, laws and regulations for which non‑compliance could significantly impact the Company’s operations and/or financial performance.
• Reviews the means of safeguarding assets and, where appropriate, verifies the existence of such assets.
• Continually evaluates the efficiency and effectiveness with which assurance resources are employed, identifying opportunities to improve operating performance, and recommending solutions to problems where appropriate.
• Reviews operations or programs to ascertain whether (1) results are consistent with established objectives and goals, and (2) operations or programs are being carried out as planned.
• Coordinates audit & assurance work with External Auditors to ensure completeness of coverage, reduction of redundant effort and effective use of audit resources.
• The role requires occasional travel for training and team meetings, and willingness to travel periodically to locations within market as needed.
• May require work in a Midland office to ensure collaboration and support of internal and external customers.
• Maintains compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
• Other duties as assigned.

Position Qualifications

Education / Experience

• Bachelor’s degree from an accredited college or university in a related subject.
• Significant experience in banking risk and/or audit management.
• Minimum five years of demonstrated experience in auditing and/or examinations.
• CPA or similar certifications are preferred.

Competencies

• Business insight
• Cultivates innovation
• Drives results
• Makes sound decisions
• Brand champion
• Collaborates
• Communicates effectively
• Customer focus
• Authentic
• Emotional intelligence
• Self‑development
• Flexibility and adaptability

EEO Statement

We’re proud to be an Equal Opportunity and affirmative action employer. Midland recruits, employs, trains, compensates, and promotes without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you require a reasonable accommodation, direct inquiries to Human Resources at Midland may use automated tools and artificial intelligence ("AI") to assist with recruiting. These tools are designed and monitored to be neutral and job‑related, and must not be used in a way that discriminates against applicants or employees based on any protected characteristic.

Disclaimer

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT

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