Director, Internal Audit Job Description

Director, Internal Audit Job Description

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Director, internal audit provides expertise and independent judgment in the interpretation and application of US GAAP in the accounting treatment of financial transactions related to current and new business arrangements and processes.

Director, Internal Audit Duties & Responsibilities

To write an effective director, internal audit job description, begin by listing detailed duties, responsibilities and expectations. We have included director, internal audit job description templates that you can modify and use.

Sample responsibilities for this position include:

Participate with management by serving in an advisory role during the implementation of new systems, processes and procedures
In conjunction with Chief Audit Executive, develop audit policies, procedures, guidelines, standards and programs, as it relates to accountable business units/functions
Provide expertise in auditing standards and performance criteria, audit requirements, and information technology skills
Develop audit findings that include practical recommendations for improvements to policies, procedures and operating methods
Reviewing internal audit capabilities and compliance procedures in key business areas of focus
Identifying, recommending and driving implementation of improvements in department policies, procedures and auditing techniques
Direct a comprehensive risk based audit program within the framework established by the Firm’s policies, process universe, and frequency guidelines
Ensure annual Sarbanes-Oxley control evaluation and testing is performed in a timely, complete, and quality manner
Proactively develop and maintain mutually beneficial relationships with business management
Develop and maintain professional relationships with, and assist in the coordination of audit efforts with regulatory examiners/external accountants to ensure prompt and efficient completion of examinations

Director, Internal Audit Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Director, Internal Audit

List any licenses or certifications required by the position: CPA, CIA, CISA, CFE, CISSP, SOX, CRISC, CA, PMP, CFSA

Education for Director, Internal Audit

Typically a job would require a certain level of education.

Employers hiring for the director, internal audit job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Accounting, Finance, Business, Business/Administration, Education, Management, MBA, Economics, Information Systems, Leadership

Skills for Director, Internal Audit

Desired skills for director, internal audit include:

Excel
Procedures
Back-office capital markets activities
GAAP
Management principles and business practices
Middle
Skill in applying internal auditing and accounting principles and practices
US GAAP
Auditing standards
Industry program policies

Desired experience for director, internal audit includes:

Maintain a current risk profile for each line of business by working extensively with business management to identify emerging risks and industry practices, improve the risk management infrastructure, operations, and risk monitoring, and prioritize Audit efforts based on the changing risk environment
Lead effective integrated audits where applicable, and apply a holistic review from an operational, financial, and information technology perspective
Monitor progress and resolution of outstanding issues on a periodic basis to ensure timely execution of action plans, and to ensure appropriate reporting is delivered to management and the Audit Committee
Enhance business knowledge by continually monitoring trends and developments affecting each line of business
Set clear objectives for the Audit team and monitor progress toward those objectives with a focus on high quality results and timely completion of tasks
Participate in departmental budgeting, audit planning, corporate planning, and Audit Committee reporting

Director, Internal Audit Examples

1

Director, Internal Audit Job Description

Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of director, internal audit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for director, internal audit
  • Complete pre and post-implementation reviews and business process reviews
  • Deliver the annual audit plan specifically the company’s Sarbanes-Oxley compliance process risk mitigation efforts and operational audits
  • Prepare well written reports that clearly communicate the issues and proposed solutions to management and the Board
  • Respond to periodic requests from businesses for special services (fraud reviews, policy revision advisory services, etc)
  • Partner with other shared service departments such as but not limited to Information Technology and Global Sourcing to ensure we are properly managing and monitoring compliance and business risks
  • Develop Internal Audit team and track CPE and license status
  • Develop and track departmental budget
  • Assist Senior Vice President of Internal Audit in the development of the annual audit plan, strategy and budget to insure coverage of physical and financial assets and risks and compliance with Sarbanes-Oxley compliance requirements
  • Lead the assessment, tracking, and reporting of all Sarbanes-Oxley testing results including control deficiencies
  • Act as Internal Audit’s primary liaison with the Company’s process owners, management and external auditors on all Sarbanes Oxley related matters
Qualifications for director, internal audit
  • Bachelor’s degree in business, information technology, higher education or a related field from an accredited college/university is required
  • Proven track record in managing high-performance
  • Directing, counseling, and instructing staff assigned to an engagement and review audit plan, findings and reports for sufficient scope and for accuracy
  • Providing leadership, coaching, performance management and personal development support
  • Raising the technical knowledge of the group through various courses, seminars and in-house training in the areas of FBO and CCAR
  • Providing input and participating in the IAS strategic planning process
2

Director, Internal Audit Job Description

Job Description Example
Our company is growing rapidly and is looking for a director, internal audit. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for director, internal audit
  • Evaluating actuarial risks and developing the appropriate audit coverage
  • Planning and implementing audit plans and risk assessments
  • Monitor changes in business process documentation, evaluate design, and test to ensure compliance with Sarbanes-Oxley providing quality work papers to support external audit reliance strategies
  • Ten years minimum experience in the Accounting and Internal Auditing field
  • Big Four auditing experience and/or Retail industry specialization preferred
  • Project management skills – effective consultation, interpersonal, prioritization of topics/issues and organization
  • Demonstrate the highest professional and personal standards
  • Must have 10 or more years’ progressive accounting, audit and/or FP&A experience, working knowledge of the complexities of a global company and ability to operate within a matrix environment
  • Strong understanding of audit department management and administration is required, including Executive relationship development and management effective working relationships with Audit Committees
  • Oversee the Operations and Administration function of the IAD and provides direction and leadership to the Internal Audit team and in performing internal audit activity across the organization
Qualifications for director, internal audit
  • Preference will be given to candidates who possess an existing network of potential higher education clients
  • Contributing to the strategy for IA, continuous improvement and change management initiatives
  • Superior interpersonal skills to interact effectively with an ever changing mix of internal employees and management external regulatory personnel
  • Excellent communication (oral and written) and interpersonal skills, including an ability to listen to the needs of the business units, comprehend complex matters and develop practical resolutions
  • Provide an independent appraisal and opinion on the adequacy and effectiveness of the corporation’s controls and provide input to the reporting to the Audit Committee, reporting to local management committees and senior management
  • Manufacturing (International or Fortune 500 experience highly preferred)
3

Director, Internal Audit Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of director, internal audit. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for director, internal audit
  • Verify and sometimes document or re-write the established policies and procedures relevant to the activity which consider the company goals and objectives
  • Oversees the development of the annual internal audit plan to evaluate significant business activities, determine the integrity of financial data, and drive the efficiency of operations and compliance with policies, procedures and regulations
  • Plan, execute, and report on the Company’s annual internal controls over financial reporting (ICFR) audit as required by Sarbanes Oxley, including walkthroughs and test of operating effectiveness of controls
  • Develop relationships within Finance and with various levels of management from other departments
  • Enhance the Company’s documentation of the nature and design of its internal controls within the framework of COSO ’13
  • In the event that control deficiencies are identified, work with management to evaluate the impact of those deficiencies on the audit, propose solutions, and conduct remediation testing
  • Research emerging issues and best practices in risk management, auditing, and accounting
  • Report audit results and recommendations to management and Audit Committee clearly and succinctly
  • Ad hoc projects to be assigned by Senior Management and/or the Audit Committee
  • Administration of the Enterprise Risk Management process
Qualifications for director, internal audit
  • Direct higher education industry experience – either in internal audit, finance, or information technology
  • FSA with at least 7 years of actuarial experience, preferably in multiple disciplines (e.g., pricing, reserve valuation, hedging)
  • Develop a flexible multi-year audit regional plan which leverages the global audit plan
  • The approved annual audit plan should include as appropriate, any special tasks or projects requested by Management and the Audit Committees
  • Maintain a professional audit staff with sufficient knowledge, skills, experience, and professional certification to meet the requirements of this Charter
  • Consider the scope of work of the external auditors, regulators, and internal assurance functions, as appropriate, for the purpose of providing optimal audit coverage to the organization at a reasonable overall cost
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Director, Internal Audit Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of director, internal audit. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for director, internal audit
  • Subject Matter Expert in SOX
  • Lead regional audit projects ensuring appropriate visibility of international business risks
  • Define and execute the long term strategy for the Internal Audit regional presence this should include identifying resource needs and building a highly competent team
  • Direct Global Internal Audit’s efficient and effective assessment (testing) of internal control over financial reporting (SOX), focusing on areas in scope for shared services working closely with the Shire’s Controller’s Group
  • Leads the team in the assessment and testing of company's systems, processes, methodologies, data, internal controls and governance practices related to financial, operational, compliance, and information technology risks
  • Leverages the execution of the annual and engagement audit planning process to the risk information
  • Prepares and presents reports to the Audit Committee of the Board of Directors
  • Develops an annual budget for the internal audit department
  • Update the Annual Risk Assessment and develop an Audit plan
  • Evaluate, monitor and report on the control environment while conducting Internal Audits
Qualifications for director, internal audit
  • Professional certification and/or licensing (e.g., CPA, CIA, CFE, or CISA
  • Willing to travel when necessary – approximately 30%
  • Collaborate with the Enterprise Risk Management and Regulatory Compliance functions and partner with business and support unit managers to identify, evaluate, and monitor significant risk exposures
  • Review the functioning and efficiency of the Compliance and Risk Management functions
  • Ensure financial and regulatory information is correct, complete and available in a timely manner to the governance bodies and committees of the Bank, to the CSSF
  • Communicate any significant impact to the Bank Audit, Risk & Compliance Committee
5

Director, Internal Audit Job Description

Job Description Example
Our company is growing rapidly and is hiring for a director, internal audit. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for director, internal audit
  • Research and report on any legislative issues, new audit regulations/trends and audit methodology and incorporate them into the audit programs and into recommendations
  • Ensure internal controls adequately limit risk for any function or activity within all areas of the group
  • Write audit reports which outline the audit findings and make recommendations for process improvement or best practices
  • Directing a comprehensive internal audit program, including SOX, operational, financial, information system and compliance audit projects
  • Provides consulting services to the organization’s management
  • Identifies and evaluates the company's risk areas and oversees the development of the annual internal audit risk assessment
  • Ensure audits are conducted in accordance with the Standards for Professional Practice of Internal Auditing as defined by the Institute of Internal Auditors
  • Remain abreast of emerging trends and internal audit “hot spots” to ensure that best practices from audit profession are incorporated
  • Review and approve the scoping and resource allocation for individual audits
  • Review audit results and ensure issues, risks, and management action plans and timing are clearly communicated in audit report
Qualifications for director, internal audit
  • Evaluate and assess significant merging or consolidating functions and new or changing services, processes, operations, and control processes coincident with their development, implementation, and/or expansion
  • Respect the basic principles of the Internal Auditors’ code of ethics, integrity, objectivity, confidentiality and competency
  • Apply the international standards for the professional practice of internal auditing published by the “Institute of Internal Auditors” and the professional practices foreseen in the audit manual of the internal audit group
  • Once a year, produce a summary report of all the controls performed, the main deficiencies and the corrective measures
  • Operate as part of a global audit team, supporting a global plan
  • 8+ years of experience in public accounting or related industry

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