What are the responsibilities and job description for the Manager of Internal Audit position at Ascent Industries Co?

Job Description

About Ascent

Ascent Industries is a partnership of industrial manufacturing companies pursuing innovation and growth. For over 75 years we’ve experienced growth across the tubular and specialty chemicals industries through continuous investment in our production processes and thoughtful acquisitions. Our rich history and breadth of expertise enable us to provide unique, customized solutions for our customers.

We believe in delivering best-in-class solutions which require living out our values daily and hiring the types of people who will strengthen our brand.

We value the PEOPLE we interact with internally and externally.

We believe in TRANSPARENCY in communication as a foundation of healthy relationships.

We believe it is imperative to protect the HEALTHY & SAFETY of our people.

We value high PERFORMANCE across all areas of our business including financial, operational, and team collaboration.

We believe that RELIABILITY is necessary to consistently deliver on our promises to our customers and each other.

We are proud of our team who do what is right to build products that will last. Take time to learn more about us today at : https : / / www.ascentchem.com

The Manager – Internal Audit & Technical Accounting will report to the Corporate Controller and will play a crucial role in evaluating and enhancing our internal control systems and processes. You will be responsible for conducting comprehensive audits to assess the effectiveness of our risk management practices, financial reporting, and compliance with regulatory standards. Your expertise and attention to detail will contribute to the overall success of our organization by ensuring the integrity and reliability of our financial information.

In addition, you will play a crucial role in the integration of newly acquired entities into our financial reporting, systems, and processes. This role requires expertise in GAAP accounting, project management skills, and the ability to collaborate effectively with various stakeholders. To accomplish this, the Sr. Accountant – Technical Accounting & Internal Audit must have strong analytical skills, as well as strong written and verbal communication skills. This individual needs to be well organized and able to handle multiple tasks and priorities simultaneously. This individual must be well versed in U.S. GAAP and have familiarity with various research tools. Candidates should be detail-oriented and have strong partnering skills as this individual will work closely with all areas of the business.

Internal Auditor Responsibilities

Develop and execute risk-based audit plans to evaluate the effectiveness of internal controls and identify areas of improvement.
Execute the Company’s annual risk assessment process to determine overall materiality levels and a rick based approach to the Company’s internal audit plan for the year.
Conduct thorough and objective examinations of financial statements, operational procedures, and internal controls to identify potential risks, errors, and irregularities.
Assess compliance with established policies, procedures, regulations, and industry best practices.
Identify and communicate control deficiencies and recommend practical solutions to address identified risks and improve process efficiency.
Review and evaluate operational processes to identify opportunities for cost savings, revenue enhancement, and process improvement.
Collaborate with management to develop action plans to address audit findings and monitor the implementation of corrective actions.
Monitor and assess the adherence to prescribed internal control procedures and report any deviations to management.
Stay updated with changes in laws, regulations, and accounting standards to ensure compliance and recommend necessary adjustments to internal control systems and processes.
Lead and supervise a team of auditors, providing guidance, coaching, and performance evaluations.
Prepare comprehensive audit reports, including findings, conclusions, and recommendations for improvement, and present them to senior management and other stakeholders.

Technical Accounting Responsibilities

Participate in monitoring the due diligence activities pre close and the integration activities post close to identify matters that could potentially impact the ongoing accounting of an acquired entity.

Assist in implementing standardized accounting procedures and controls across newly acquired entities to ensure compliance with regulatory requirements and accounting standards.

Assist in leading the process of standing up the accounting process for newly acquired entities, ensuring timely and accurate integration into our financial reporting, systems, and processes.

Participate in determining the appropriate opening balance sheet for the acquired business unit in accordance with relevant GAAP.

Participate in calculating the Buyer's submission for the Post Closing Statement adjusting for the differences between estimated and actual values for net working capital and assumed liabilities.

Develop and execute project plans, timelines, and deliverables for post-acquisition accounting integration projects.

Collaborate with cross-functional teams including finance, operations, IT, legal, and external auditors to ensure seamless integration.

Provide training and support to finance and accounting teams at acquired entities on new processes and systems.

Work closely with external advisors and consultants as needed to support integration efforts.

Monitor and report on the progress of post-acquisition accounting integration projects to senior management.

Serve as an internal auditor and strategic financial partner for existing portfolio companies across Ascent Industries Co.

Internal Auditor Required Skills

In-depth knowledge of auditing principles, practices, and techniques.

Strong understanding of financial accounting and reporting standards.

Excellent analytical and problem-solving skills with the ability to identify and assess risks and develop effective control measures.

Proficient in using audit software and other data analytics tools.

Strong communication skills, both verbal and written, with the ability to articulate complex audit findings and recommendations clearly and concisely to senior stakeholders.

Exceptional attention to detail and ability to work with large volumes of data.

Proven ability to work with diverse teams and stakeholders at all levels of the organization.

Excellent organizational and time management skills with the ability to prioritize tasks and meet deadlines.

Demonstrated ability to lead and supervise a team of auditors, providing guidance and mentoring.

Proficient in using Microsoft Office Suite, including advanced knowledge of Excel and PowerPoint.

Required Qualifications

Bachelor's degree in Accounting, Finance, or related field.

Certified Internal Auditor (CIA) or Certified Public Accountant (CPA) designation is strongly preferred.

Minimum of 5 years of experience in internal auditing and technical advisory services with an emphasis on acquisition accounting and SOX compliance, preferably in a supervisory or senior role.

Thorough knowledge of GAAP as well as auditing standards, principles, and practices.

Familiarity with relevant regulatory requirements and industry best practices.

Strong understanding of risk management and internal control frameworks.

Experience in performing financial, operational, and compliance audits.

Proficient in using audit software and data analytics tools.

Proven ability to manage multiple audits simultaneously and meet deadlines.

Strong ethical and professional conduct with a commitment to objectivity and confidentiality.

PREFERRED EDUCATION / EXPERIENCE :

Masters degree in Accounting or Finance

Disclaimer : The list of requirements, duties, and responsibilities is not exhaustive, but merely the most accurate list for the current job. Management reserves the right to revise the job description and to require that other tasks be performed when the circumstances of the job change.

Ascent Industries is an equal-opportunity employer. Ascent does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.

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