NMI Holdings is seeking a VP Internal Audit who will report to the Chairman of the Board Audit Committee and is managed by the Chief Risk Officer. The VP leads the enterprise risk assessment process and develops and executes on a responsive internal audit plan, supporting cross-corporate initiatives that improve management control systems. The VP is responsible for managing the internal audit function working closely with the head of Compliance and directing the activities of an external firm hired to assist with audit activities. The VP must maintain appropriate measures to ensure that National MI’s governance, financial and risk management processes are effective. The VP acts in the primary role of communicating any control issues discovered and recommending corrective actions to be taken. The individual must have a broad-based knowledge of financial services practices related to lending and insurance with emphasis on the management processes that guide and control these functions. The individual must possess excellent time management skills, good oral and written communication skills, an ability to develop strong cross-functional relationships, vendor management skills, and be solution oriented.
Job Duties & Responsibilities
- Develop and obtain approval for the annual audit plan
- Manage and conduct operational, financial, technology, regulatory and compliance audits in accordance with the audit plan
- Reviews specific operations or processes at the request of the Audit Committee or senior management
- Perform more complex and advanced audit procedures including but not limited to identifying and defining issues, developing criteria, reviewing and analyzing evidence, and documenting processes and procedures
- Review audit work papers and provide insight into the identification, development and documentation of audit issues and recommendations
- Discuss preliminary audit findings with process owners during the audit, and final audit findings at the conclusion of the audit
- Lead audit meetings within National MI and with external stakeholders as necessary
- Develop and maintain productive and effective relationships with internal department leaders and staff through individual contacts and group meetings
- Represent Internal Audit on internal projects, at management meetings, and with external stakeholders
- Independently validate and report on management progress to address material issues identified by Internal Audit
- Promote the development of a sound and reasoned culture including appropriate controls
Desired Skills & Experience
- Ability to work independently under general direction with latitude for initiative and independent judgment.
- Ability to work effectively at all levels within the organization
- Excellent written and oral communication skills
- Understands the right balances between risks and controls
- Able to identify problems and recommend solutions to complex control, financial, technical, compliance, regulatory, and other issues
- Strong understanding of internal audit best practices
- Strong understanding of lending and/or insurance with respect to business processes
- Works ethically and with integrity supporting organizational goals and values.
- Displays commitment to excellence.
- Completes work in a timely manner and meets deadlines.
- Meets productivity standards and achieves key outcomes.
- Is dependable and keeps commitments.
- Contributes to building a positive team spirit and treats others with respect.
- Maintains confidentiality of information and uses information appropriately.
- Exhibits sound judgment when making decisions and recommendations.
- Fosters collaboration toward a common vision and shared goals.
- Analyzes and interprets information accurately.
Essential Supervisory Responsibilities:
- Directs the activities of an Internal Audit Vendor.
- Does not manage NMI staff initially, but will over time.
- Undergraduate Degree (Graduate Degree preferred)
- 15 or more years of industry experience
- 5+ years in role with similar responsibilities
- CIA, CPA, CISA certification, or MBA
Excellent written and oral communication skills
NMI Holdings, Inc. (National MI℠) is a new mortgage insurance company that brings in excess of $500 million of private, unencumbered capital into the mortgage insurance sector. Headquartered in the San Francisco Bay Area, National MI is led by an experienced management team with strong mortgage, financial services and start-up experience.
Our goal is to provide a fresh, new perspective to the market through innovative products and risk protection delivered by National MI’s very talented sales force and risk managers.
National MI seeks to differentiate itself based on several principles:
• Financial strength – we are highly capitalized and have no constraints due to legacy business
• Significant capacity to insure new business and offer competitive programs and products to support your production goals
• A unique underwriting program with strong loan quality assurance