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The position is an unpaid volunteer position for the credit union. It will require a time commitment of approximately 5 hours per quarter.Â
Responsibilities
- Oversee the credit union’s audits and internal controls to ensure that the credit union’s assets are safe and its goals will be met.
- Select and oversee the services of internal and external auditors to ensure the following:
- An annual verification of member share and loan accounts is performed.
- An external financial statement audit is performed to verify that the credit union’s financial reports accurately reflect operations and results.
- Regulatory examiners receive appropriate cooperation.
- Audit findings and recommendations are addressed in a timely fashion. Internal controls are established and effectively maintained to safeguard the credit union’s assets.
- The credit union is in full compliance with all relevant laws and regulations.
- Changes in credit union policies and procedures are reviewed for their effects on the quality of service to members and safety of members’ funds.
- A reporting of audit findings is made to the board of directors.
- Review the actions of the board of directors to make sure that they exercise firm control over the credit union’s affairs, they understand their role, and they promote the credit union for its intended purposes.
- Complete all required initial and annual training.
- Attend quarterly Supervisory Committee lunch meetings.
- Attend at least one monthly Board Meeting per year.
- Must be a member of Baton Rouge Telco FCU in good standing.
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