The Internal Auditor provides insights and deploys internal audit, technology, and risk management knowledge and expertise to bolster the front line of the First American Financial (FAF) Title Agent Audit Group (TAAG). TAAG is compromised of knowledgeable and experienced internal auditors that are responsible for conducting audits of First American’s independent title agents.
This position determines that agent procedures used to account for escrow funds and related bank accounts are properly maintained and accounted for; internal controls are adequate and operating effectively to ensure that escrow transactions are authorized, processed, controlled and recorded timely; Agent policy issuance and remittance processing practices are in compliance with federal and state regulatory requirements, Agency agreement and underwriting policy requirements.
• Conducts internal audits in conformity with FAF policies and procedures and makes suggestions to enhance the internal audit process;
• Integrates key risk factors and red flags of Agents into planning and scheduling the Agency Audits, considering the current environment and priority profile of our Agents;
• Identifies and detects defalcations as well as recommends control procedures to prevent and deter fraud;
• Effectively deploys and supports the development and enhancement of proprietary audit methodologies and tools;
• Demonstrates ability to identify, research and report on significant accounting, auditing and internal control issues during an audit and propose solutions, supported by quantitative financial and forensic analysis;
• Provides clear documentation and financial analysis of conclusions reached during the field audit and brief, concise and well-articulated follow-up comments to support the remediation and resolution of critical deficiencies;
• Ensures all work papers and internal audit reports comply with quality control standards and are properly backed up and stored in accordance with FAF archiving standards;
• In conjunction with Senior Managers, may provide counsel to Agents and FAF Agency in the proper maintenance of accounting records and internal control procedures related to escrow funds and related bank reconciliations; and
• Maintains regular, periodic communications with TAAG management.