Internal Audit Associate

About Us

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America's Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People

The Internal Audit Associate will support the Internal Audit department in executing audits and assessments of the bank's operations, processes, and internal controls. This role involves evaluating the adequacy and effectiveness of controls to ensure compliance with regulatory requirements, company policies, and industry best practices. The Internal Audit Associate will work closely with cross-functional teams to identify opportunities for operational improvements, mitigate risks, and contribute to the overall governance framework at Live Oak Bank.

What You'll Do at Live Oak

• Assist in the planning, execution, and documentation of audits of various business units and operations; this includes conducting tests, evaluating control design, and identifying areas for improvement
• Support the identification and evaluation of risks and controls related to financial reporting, operations, compliance, and IT
• Perform test procedures to determine whether the bank is complying with relevant laws, regulations, and internal policies
• Review existing control frameworks and recommend enhancements to mitigate risks
• Contribute to the development of audit reports and provide actionable recommendations to management for process improvements and enhanced controls
• Prepare and maintain comprehensive audit work papers and documentation in accordance with IIA professional standards and internal methodologies
• Work closely with various departments to understand business processes and assist in walkthroughs to identify key activities, risks, and controls
• Provide clear, concise, and relevant documentation of work performed, including thorough description of issues and observations identified
• Develop recommendations for identified control issues and assist in fostering a culture of continuous improvement
• Complete validation testing to ensure issues have been appropriately remediated
• Assist with ad-hoc audit requests, special investigations, or other projects as needed
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Required Experience

Preferred Experience

Our Values

For a detailed overview of our employee benefits please visit :

Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities / Women / Veterans / Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and / or interview process should notify human resources at HumanResources@liveoak.bank.

EEO is the Law

The base pay range for this position is $55,000.00 - $90,000.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate's salary is determined by several factors including travel, relevant work experience or skills and expertise.

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.