Internal Audit’s mission is to provide independent and objective assurance and advisory services guided by a philosophy of adding value to improve our client's operations, its subsidiaries, and affiliated entities. Internal Audit assists the company in accomplishing its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of governance, risk management, and internal control while furthering staff development and providing career growth opportunities.
Typically, in collaboration with an Audit Management staff member, this position functions as a working audit project manager, fully responsible for planning, executing, communicating issues and progress, and reporting audit results, independently and, on occasion, within a team. This job is predominately focused on performing high-quality, value-add, assurance, and advisory services that identify, evaluate and report on highly complex business risks and controls in accordance with the Institute of Internal Auditors Standards and established methodologies. This position contributes to the enterprise risk management framework through effective planning, executing, and reporting on audit projects, through which the individual will identify meaningful issues about the design and effectiveness of controls, and make important recommendations to improve the control environment. This seasoned individual is frequently sought as a key resource for critical, urgent, or complex assignments.
This position is mainly focused on life and disability individual insurance products and the distribution channel, with the possibility of covering other aspects of the business.
Lead, manage and execute complex assurance projects in accordance with established methodologies and professional standards. This includes:
- developing an understanding of management’s business objectives and processes
- using strong data analysis skills
- using well-developed data collection skills to acquire an understanding of the process, risks, and controls
- creating keenly-focused flowcharts, process maps, and occasionally narratives to analyze and evaluate the effectiveness of management's control design in addressing associated risks, identifying control gaps or potential improvements
- using critical thinking skills to prepare planning memos, including fraud as a consideration, to set audit scope and objectives
- formulating and executing audit procedures that test key controls
- preparing communications covering issues and progress
- lead project-related meetings and discussions
- obtaining management input on solutions
- writing value-added audit conclusions, presenting findings to both Internal Audit and business management, to proactively manage risk
- preparing clear, concise, high-quality audit reports and other audit documents that comply with the Department’s methodology, and communicate relevant issues and effective, value-added recommendations
- managing work so that projects are completed on time and within budget
- Demonstrate influencing skills when communicating with business areas and other risk assurance providers aimed to continually improve relationships and enable management to proactively manage risk.
- Work with other members of the audit team to leverage their skill sets, experience, and expertise; provide same.
- Act as a mentor to new or less experienced auditors by providing guidance on Department processes and sharing knowledge of Company operations, product lines, etc.
- Monitor all outstanding recommendations and action plans for the assigned audits; prepare status commentary and perform follow-up testing as needed.
- Provide advisory services on projects, business functions, and processes, if requested.
- Provide governance, compliance, investigation, and enterprise risk assessment support, if requested.
- Assist the external auditors and the financial controls team through coordinating and executing direct assistance testing for select assignments.
- Work with Internal Audit leadership to identify and continuously improve departmental practices.
- Monitor and demonstrate compliance with departmental policies and practices, as evidenced by strong quality assurance results, and strong performance within standards and related metrics.
- Stay abreast of current issues, standard industry practices, regulations, and obtain continuing education and training. Participate in special projects and perform other duties as requested.
- Interact with all levels of management to provide effective risk and control advice, maintaining active communication with clients to enhance risk and control awareness and manage expectations.
- Typically requires a minimum of 10 years of broad-based experience in internal audit, external audit, or related functions.
- Experience in the insurance or financial services industry is helpful, but not required.
- Ability to multi-task and work with minimal supervision.
- Strong written and oral communication skills, with the ability to write clearly and concisely.
- Strong interpersonal skills, with the ability to build strong relationships and clearly articulate thoughts and ideas.
- Highly motivated self-starter, with the ability to work independently, as well as in teams.
- Strong analytical skills, with the ability to effectively assess a process, analyze data and assess risks and controls.
- Working knowledge of information technology and cybersecurity and ability to apply to operational audits.
- Understanding of enabling technologies, including robotics process automation (RPA), natural language processing (NLP), and/or artificial intelligence (AI) is a plus.
- Strong organizational skills, with the ability to manage concurrent projects and meet deadlines.
- Experience with risk assessment tools and methodologies.
- Adaptable to changing priorities.
- Ability to collaborate with others, both inside and outside of the department, while working toward common goals and fostering understanding and agreement.
- Develop strong relationships within business areas.
- Bachelor’s degree required (accounting or business degree is a plus)
- Certified Internal Auditor (CIA) accreditation attained or in progress.
- Additional professional accreditations (CPA, CFE, CISA, etc.), licenses, or designations is a strong plus.