What are the responsibilities and job description for the Corporate Internal Audit Director position at Alex Lee?
Overview:
The Corporate Internal Audit Director at Alex Lee, Inc. will oversee all aspects of the organization's internal audit function, ensuring the integrity of financial and operational processes. This leadership role reports to the Audit Committee of the Board of Directors and management and involves developing and implementing audit strategies, managing audit teams, and providing comprehensive risk assessments to support the company’s objectives.
Responsibilities:
1 Develop and implement audit strategy for the Company. Create and execute a risk-based internal audit plan that aligns with the company’s financial, operational, and compliance objectives.
2 Responsible for the development (including the development of appropriate long and short-term audit strategies) using risk based methodologies of the annual audit plan and oversees the execution of the annual audit plan. Periodically provides information on the status and results of the annual audit plan and the sufficiency of department resources to management or Audit Committee.
3 Oversees the Implementation and execution of the annual audit plan, as approved, including as appropriate, any special tasks or projects requested by management and the Audit Committee.
4 Reports audit results, findings, conclusions and recommendations / action plans including management comments. Collaborate with key stakeholders, senior management, external auditors, and other stakeholders to ensure alignment on audit findings and recommendations. If appropriate; performs follow-up procedures on recommendations and corrections to ensure they were appropriately implemented.
5 Continuously work to identify opportunities to enhance internal controls, operational efficiencies, and overall governance processes. Collaborate with stakeholders to drive continuous improvement.
6 Coordinates with the Audit Committee quarterly to help ensure Corporate Governance policies are adhered to and ensures that the Audit Committee is informed of emerging trends and successful practices in internal auditing. Reviews quarterly fraud reports provided by each Loss Prevention department and reports any significant matters to the Audit Committee.
7 Upon the Audit Committee's request or at least annually provides an assessment on the adequacy and effectiveness of the Company's processes for controlling its activities and managing its risks in the areas set forth under the mission and scope of work as defined in the Internal Audit Charter.
8 Oversees the selection and development of a professional audit staff with sufficient knowledge, skills, experience, and professional certification to meet the requirements of the nternal Audit Charter. Provide team leadership; manage and mentor a team of internal auditors, fostering professional growth and ensuring high-quality audit work.
9 Identify potential for or instances of irregularities (i.e. fraud, abuse) or error. Reports suspected instances of conflicts of interest and unethical conduct. Oversees the investigation of significant suspected fraudulent activities within the Company and notifies management and the Audit Committee of the results as appropriate.
10 Coordinates with and provides oversight of other control and monitoring functions (risk management, compliance, security, legal ethics, environmental, information systems and external audit).
11 Briefs the external auditors regarding internal audit findings and department focus deemed useful in their performance of the annual external audit.
12 Maintains updated knowledge of rules, regulations and standards in the field of internal audit and related matters of interest to the department. Ensures adherence to relevant laws, regulations, and industry standards.
Qualifications:
The incumbent must possess a Bachelor's Degree in Accounting, Finance, Business Administration or a related field. CPA or CIA professional certification required. A Master's degree and / or additional professional certifications preferred.
Minimum of 10 years of progressive internal audit experience, including at least 5 years in a leadership role, preferably within the retail or wholesale industry.
Strong understanding of internal audit standards, risk management, and internal controls.
Proficient in data analysis and audit software tools.
Excellent leadership, communication, and interpersonal skills.
Ability to work independently and collaboratively in a fast-paced environment.
Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others.
The Corporate Internal Audit Director at Alex Lee, Inc. will oversee all aspects of the organization's internal audit function, ensuring the integrity of financial and operational processes. This leadership role reports to the Audit Committee of the Board of Directors and management and involves developing and implementing audit strategies, managing audit teams, and providing comprehensive risk assessments to support the company’s objectives.
Responsibilities:
1 Develop and implement audit strategy for the Company. Create and execute a risk-based internal audit plan that aligns with the company’s financial, operational, and compliance objectives.
2 Responsible for the development (including the development of appropriate long and short-term audit strategies) using risk based methodologies of the annual audit plan and oversees the execution of the annual audit plan. Periodically provides information on the status and results of the annual audit plan and the sufficiency of department resources to management or Audit Committee.
3 Oversees the Implementation and execution of the annual audit plan, as approved, including as appropriate, any special tasks or projects requested by management and the Audit Committee.
4 Reports audit results, findings, conclusions and recommendations / action plans including management comments. Collaborate with key stakeholders, senior management, external auditors, and other stakeholders to ensure alignment on audit findings and recommendations. If appropriate; performs follow-up procedures on recommendations and corrections to ensure they were appropriately implemented.
5 Continuously work to identify opportunities to enhance internal controls, operational efficiencies, and overall governance processes. Collaborate with stakeholders to drive continuous improvement.
6 Coordinates with the Audit Committee quarterly to help ensure Corporate Governance policies are adhered to and ensures that the Audit Committee is informed of emerging trends and successful practices in internal auditing. Reviews quarterly fraud reports provided by each Loss Prevention department and reports any significant matters to the Audit Committee.
7 Upon the Audit Committee's request or at least annually provides an assessment on the adequacy and effectiveness of the Company's processes for controlling its activities and managing its risks in the areas set forth under the mission and scope of work as defined in the Internal Audit Charter.
8 Oversees the selection and development of a professional audit staff with sufficient knowledge, skills, experience, and professional certification to meet the requirements of the nternal Audit Charter. Provide team leadership; manage and mentor a team of internal auditors, fostering professional growth and ensuring high-quality audit work.
9 Identify potential for or instances of irregularities (i.e. fraud, abuse) or error. Reports suspected instances of conflicts of interest and unethical conduct. Oversees the investigation of significant suspected fraudulent activities within the Company and notifies management and the Audit Committee of the results as appropriate.
10 Coordinates with and provides oversight of other control and monitoring functions (risk management, compliance, security, legal ethics, environmental, information systems and external audit).
11 Briefs the external auditors regarding internal audit findings and department focus deemed useful in their performance of the annual external audit.
12 Maintains updated knowledge of rules, regulations and standards in the field of internal audit and related matters of interest to the department. Ensures adherence to relevant laws, regulations, and industry standards.
Qualifications:
The incumbent must possess a Bachelor's Degree in Accounting, Finance, Business Administration or a related field. CPA or CIA professional certification required. A Master's degree and / or additional professional certifications preferred.
Minimum of 10 years of progressive internal audit experience, including at least 5 years in a leadership role, preferably within the retail or wholesale industry.
Strong understanding of internal audit standards, risk management, and internal controls.
Proficient in data analysis and audit software tools.
Excellent leadership, communication, and interpersonal skills.
Ability to work independently and collaboratively in a fast-paced environment.
Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others.
