Director of Internal Audit

Title: Director, Internal Audit

Manager: Chief Internal Audit Executive

Department: Internal Audit

Location: Chicago; Hybrid, 3 days in-office

Who We Are:

Old Republic International Corporation (ORI), which traces its beginning to 1923, is a Fortune 500 company and one of the nation’s 50 largest shareholder-owned insurance organizations. Our subsidiaries actively market, underwrite and provide risk management services for a wide variety of coverages, mostly in the general and title insurance fields.

Our mission is to provide quality insurance security and related services to businesses, individuals and public institutions, and be a dependable long-term steward of the trust that policyholders, shareholders and other important stakeholders place in us.

Position Overview:

The Director of Internal Audit is responsible for assisting the Chief Internal Audit Executive in the development and execution of a comprehensive Internal Audit program addressing governance oversight and risk management efforts. This role is crucial in overseeing and providing objective advisory and audit activities over financial, operational, regulatory, and IT processes. The ideal candidate can effectively communicate risks to management, motivate a dynamic team in this fast-paced environment, and manage complex tasks.

Essential Job Functions:

• Lead and coordinate complex audits and assessments over financial, operational, compliance, and IT processes across business units.
• Manage various projects and strategically delegate tasks to staff to ensure projects are conducted in accordance with professional standards and in a timely manner.
• Analyze findings, identify themes and implications of key risks and inefficiencies, and recommend improvements to Management and the Audit Committee.
• Prepare Internal Audit status reports along with the other Internal Audit Directors for presentation to senior management and the Audit Committee.
• Develop and implement audit work programs to identify and assess control risks, fraud risks, risk management frameworks, and strategic objectives.
• Lead the risk assessment process and strategic audit plan development to identify emerging risks and ensure alignment with the company’s objectives and compliance with regulatory standards.
• Develop, foster, and maintain collaborative business relationships to work as a trusted, valued, and strategic business partner to management.
• Lead process improvement and identify opportunities to innovate and improve the efficiency of the Internal Audit Department.
• Keep abreast of current trends in emerging trends in insurance, internal auditing, risk management, IT, and regulatory changes.
• Deliver comprehensive training programs for Internal Audit staff, focusing on audit standards, departmental procedures, and technical competencies.
• Supervise and support Internal Audit staff by setting clear expectations, reviewing the work of others, and providing feedback and recommendations for improvement.
• Oversee the recruitment, management, development, and retention of Internal Audit staff.
• Foster a culture of accountability, continuous improvement and innovation, encouraging collaboration and teamwork across departments.
• Mentor and develop team members to enhance skills and knowledge. Provide appropriate learning opportunities and knowledge transfer as needed.
• Additional job functions will be necessary for the success of this role.
• Travel up to 30%.

Qualifications:

• Bachelor’s Degree in business related area of study, preferably Accounting or Management Information Systems. Insurance industry experience preferred.
• Minimum 16 years’ experience in Internal Audit, including SOX compliance at a publicly traded corporation.
• 5 years’ experience in management
• 6 years’ experience in consulting or advisory roles.
• Knowledge of compliance standards and frameworks such as NAIC MAR, COSO, IIA Global Standards, GAAP and STAT requirements, SEC requirements, FASB pronouncements, IRS, and ERISA regulations.
• Exceptional problem-solving, sound decision-making and strategic thinking.
• Effective communication and interpersonal skills, with the ability to collaborate and interact effectively with employees at all levels.
• Obtain one of the following certifications: CPA, CIA, CPCU, CISA, CISSP, CISM, or similar certification.

ORI is an Equal Opportunity Employer. ORI provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.