JAY FREDERICK IULA
*** ****** ***., ******** *****, Ohio 44221
Financial Industry Senior Auditor
I have twenty-five years of banking experience. During my career, I am most proud of the
times where I led projects that made the bank two million dollars in revenue.
• Experienced Financial Industry Auditor
• Specialty in Mortgage Loan Servicing
• Sarbanes-Oxley Compliance Officer
• Educated with a Bachelor of Science in Accounting and as a CPA
• Reengineered the Mortgage Loan Customer Service Department that condensed
staffing from 20 full-time employees to 12. Moreover, reduced costs in escrow processing (e.g.,
hazard insurance tracking expenses, and assessed tax penalties) by approximately 20%.
• Developed a streamlined mortgage refinance program that saved FirstMerit
approximately $1 million in costs.
• Implemented the mandated Home Affordable Mortgage Program at FirstMerit.
FirstMerit earned more than $1 million in fee revenue from FannieMae.
Senior Auditor February 2012 – August 2013
I conduct Internal Audits throughout FirstPlace Bank. My current audits include Wire Transfer, REO
and Mortgage Lending. Also, I design the Audit Programs & Internal Control testing, complete the
fieldwork testing and write the audit reports.
FirstMerit Bank, N.A.
Loss Mitigation / HAMP Supervisor July 2009 –
At FirstMerit, I implemented the control design and workflow for the bank’s Home Affordable
Modification Program (HAMP). HAMP was mandated by the US Treasury Department in April
2009 to provide borrowers with affordable monthly payments. For FirstMerit, the HAMP
program provided an additional million dollars in fee revenue.
Sarbanes-Oxley Compliance Officer May 2006 – July
I was responsible for the Sarbanes-Oxley Section 404 testing for FirstMerit. Specifically,
Section 404 required FirstMerit management to report on the adequacy of the bank’s
internal control on financial statements. Moreover, Section 404 proved to be exceedingly
costly for the bank to implement, along with an enormous effort in documenting and
Mortgage Customer Service Manager January 2000 – May
For six years, I supervised a staff of twenty in the Mortgage Loan Customer Service
JAY FREDERICK IULA
224 Lehigh Ave., Cuyahoga Falls, Ohio 44221
Department at FirstMerit. Included in my responsibilities were a Customer Call Center,
Escrow Processing and Specialty Loans.
Internal Auditor December 1989 – December
I started in banking as a FirstMerit Internal Auditor. I conducted internal reviews and
assessments that included audits of various consumer, credit card and mortgage loans.
My forte was developing and planning audits for a wide assortment of FirstMerit profit
and cost centers.
• H&R Block – Tax Preparer. Prepared income tax returns for H&R Block
• Audit Bureau of Circulations - Auditor. Audited Newspapers & Magazines
throughout the United States.
Education / Certifications
BS – University of Akron, Accounting Certified Public Accounting (CPA) Certification
BSBA – University of Akron – Marketing Certified Bank Auditor (CBA) Certification