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.

How You’ll Do It 

• 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.

Required Experience

• Bachelor’s degree in Accounting, Finance, Business Administration, or related field.

• 1-2 years of experience in internal audit, external audit, or a related field.

• Knowledge of internal controls, risk management, and audit methodologies is a plus.

• Strong analytical skills with the ability to identify and evaluate risks and control gaps.

• Good written and verbal communication skills to effectively report findings and collaborate with colleagues.

• Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint).

• Ability to manage multiple tasks and deadlines in a fast-paced environment.

• CPA, CIA, or CISA certification (or progress toward certification) is a plus.

• Attention to detail and accuracy.

• Self-motivated, proactive, and able to work independently or as part of a team.

• Strong problem-solving ability and desire for continuous learning and professional development.

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.

• Ownership: Tak