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Assistant Vice President Internal Audit

General Summary

The Assistant Vice President- Internal Audit serves as the chief audit executive and is responsible for establishing, directing, and maintaining an independent, objective internal audit function designed to add value and improve the organization’s operations. Evaluates and improves the effectiveness of governance, risk management, internal controls, and compliance processes across the enterprise. Provides independent assurance and advisory services to senior management and the Board of Directors’ Audit Committee and ensures alignment with regulatory requirements and professional auditing standards.

Essential Functions

Serves as the chief audit executive with direct access to the Board of Directors’ Audit Committee with unrestricted access to records, personnel, and physical properties relevant to audit activities.
Develops and maintains the Internal Audit Charter and ensures alignment with the Institute of Internal Auditors Standards and Code of Ethics.
Establishes a risk-based internal audit plan and presents it annually to the Audit Committee for review and approval.
Directs and leads audits evaluating the adequacy and effectiveness of internal controls, regulatory compliance, risk management practices, and governance processes.
Evaluates compliance with applicable insurance laws and regulations, including the NAIC Model Audit Rule, and state insurance department regulations.
Plans, organizes, conducts, and monitors overall internal audit operations.
Directs the preparation of internal audit materials for quarterly Audit Committee meetings.
Directs and oversees operational, financial, and compliance audit projects.
Directs and oversees the review and analysis of business processes.
Formulates the audit objectives, scope, and audit programs for assigned audit projects.
Directs and/or performs audit procedures, including identifying and defining issues and recommendations, developing criteria, reviewing and analyzing relevant information, evaluating evidence, documenting business processes and procedures, and completing audit documentation.
Communicates the results of audits via written reports and oral presentations to management and the Audit Committee. Escalates overdue remediation, scope limitations, or impairments to independence on a timely basis.
Assists the external audit firm with the financial audit as requested and approved by the Audit Committee.
Selects, oversees and assists the external audit firm with the Information Technology audit as requested and approved by the Audit Committee.
Promotes a culture of continuous improvement, professionalism, and ethical conduct within the audit function.
Participates in management committees or working groups in an advisory, non-decision-making capacity.
Assists with special investigations, fraud risk assessments, or whistleblower matters as requested by the Audit Committee.
Supports enterprise risk management (ERM) activities through independent assessment and coordination.
Researches audit tools and leading audit practices.
Hires, trains, and evaluates staff; and takes corrective actions to address performance problems.
Pursues professional development opportunities, including internal and external training and professional association memberships, and shares information gained with staff.
Represents Internal Audit at management and Audit Committee meetings and with oversight agencies and other external organizations.
Performs related duties as assigned by the President & CEO and the Audit Committee while maintaining independence and objectivity.

Working Conditions

Normal office conditions.
Sitting for extended periods of time.
Stress associated with meeting deadlines, eye strain, and computer-related injuries.

QUALIFICATIONS

Skills and Abilities

Strong knowledge and skill in applying internal auditing principles and practices, management principles, and preferred business practices.
Knowledge of technology risk, cybersecurity, data governance, privacy, and IT general controls.
Knowledge of the International Standards for the Professional Practice of Internal Auditing and the Code of Ethics promulgated by the Institute of Internal Auditors.
Strong understanding of Property and Casualty insurance operations, including underwriting, claims, reserving, reinsurance, and investments.
Skills in collecting and analyzing complex data, evaluating information and systems, and drawing logical conclusions.
Skills in planning and project management, and in maintaining composure under pressure while meeting multiple deadlines.
Skills in negotiating issues and resolving problems.
Proficient in Microsoft Office Suite (Excel, Word, Outlook, PowerPoint), and other business software to prepare reports, summaries, and analyses.
Skills in effective verbal and written communications, including interpersonal and active listening skills, and presenting findings and recommendations.
Ability to establish and maintain harmonious working relationships with the internal audit team, management, staff, and external contacts, and work effectively in a professional team environment.
Ability to exercise sound judgment, maintain independence, and handle sensitive and confidential information.

Education/

Experience Requirements

Bachelor’s degree with a major in Auditing, Accounting, Finance, Business, or Information Technology, or related field required
Progressively responsible full-time experience in internal audit, public accounting, risk management, finance, information technology, or related field involving audit and executive-level and/or board-level communications. Property and casualty insurance experience strongly preferred.
Professional certification required; Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or equivalent; advanced degree preferred

SUPERVISION

Supervision Received

Little or no direct supervision.
Have a wide choice in selection, development, and coordination of methods within a broad framework of general policies.

Supervision

Exercised

Management of overall auditing operations of the organization includes the ability to recommend transfers/promotions, pay increases, and terminations.
Plans work schedules for department audits, assigns work, reviews and approves work, and instructs in methods or procedures.
Responsible for initiating disciplinary actions, accountability for employee work time, handling of complaints and suggestions, and responsible for errors of employees.

APPROVALS

ASSOCIATE

DATE

SUPERVISOR/

MANAGER

DATE

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