VP, Internal Audit

Overview

As a direct report to the Audit and Finance Committee of the Board and administrative reporting to the EVP and CFO, the Vice President of Internal Audit will provide leadership, strategy, and planning for all internal audit activities across the company. This position has final responsibility for all organization-wide audits, and ownership of the audit strategy and resulting audit business objectives and work products. The mission of Internal Audit is to enhance and protect organizational value by providing risk-based and objective assurance, advice and insight.

The Vice President is responsible for managing the company’s Operational, Technological/IT, and Financial/SOX audit functions and ensuring the effective monitoring and independent evaluation of the company’s system of financial, technological, and operating controls. 

The VP of Internal Audit is further responsible for the leadership development approach within the IA function to improve the effectiveness of the audit team, develop talent for the organization, and create a proactive movement of pipeline talent throughout the company.

This position will be based in our Secaucus, NJ Corporate Headquarters.

Responsibilities

• Apply a risk based approach to the audit of the company’s activities based on the results of the Internal Audit risk assessment process.
• Develop and execute a comprehensive audit program that addresses the key operational technological and financial risks within the company.
• Develop and implement audit department processes to efficiently execute the audit plan in a manner that meets professional standards.
• Coordinate the execution of both the SOX Internal Control Assessment for the entire Company and keep the VP Corporate Controller and Chief Accounting Officer well informed of progress and issues throughout the year. Also perform Independent assessment of key SOX controls across the company in alignment with Chief Accounting Officer.
• Understand management’s assessment of Enterprise risk and incorporate enterprise risk assessment into audit planning for Internal Audit
• Lead point of contact on internal control matters with External Auditors, Internal Audit, Compliance, IT, Finance, Operations and other teams across the Company.
• Maintain an effective and comprehensive understanding of risks and controls as it pertains to the existing organization and in consideration of the Company’s strategic initiatives
• Present to the Audit Committee the annual risk assessment and audit plan for approval.
• During the year, inform the Audit Committee of the status of the audit plan and any proposed changes to the plan.
• Report audit results to management and the Audit Committee.
• Communicate the objectives and requirements of the annual audit plan to management.
• Perform testing of key controls in accordance with established standards and protocols to determine whether the controls are operating effectively.
• Develop audit programs and testing procedures relevant to risk and test objectives.
• Maintain an awareness of changes in operations, regulations and audit practices in order to evaluate effectiveness and efficiency, and advocate and influence the highest standards of ethics, discipline, and professionalism.
• Research and keep abreast of new audit regulations/trends, new and emerging technologies, tools, and methodology, and elicit information from knowledgeable internal/external sources about areas and functions to evaluate or analyze
• Keep the Board of Directors, Audit Committee and Executive Committee informed of emerging audit regulations/trends and successful practices in auditing and controls testing.
• Assist management, when needed, in the formulation of new procedures and organizational changes resulting from audit/consulting engagements and discuss changes in related policies, rules, procedures, and methods.
• Perform special audits and reviews, including but not limited to compliance, instances of alleged fraud and unethical misconduct.
• Develop strong relationships with senior management. When needed, advise and coach them on how to think about identifying and mitigating risks in their environment.
• Professionally interact with management, outside auditors, business partners, and regulators.
• Coordinate the scope, coverage and execution of the internal and external audit plans with the independent external auditors. Assist external auditors as needed.
• Develop department Directors, Managers, Seniors, and Staff including individual objective setting, performance reviews, training requirements, and establishing development plans, which will facilitate their ability to rotate to other roles within the company.
• Oversee the success of the Internal Audit Rotational and Job Shadowing programs by recruiting top talent, developing staff potential, and liaising with other Business groups about the rotation program in Internal Audit.

Qualifications

Educational:

• Bachelor Degree in Accounting/Finance
• CPA/CIA is required. An MBA is strongly preferred.

Work Experience:

• Experience leading the Internal Audit function for a public company.
• At least 15 years of progressive accounting, audit and/or finance, or other relevant work experience in fortune 500 size companies.
• At least 6 years of supervisory experience of comparable or larger sized audit groups required.
• Strong operational knowledge a plus.
• International experience and FCPA experience would be a plus.

Required Competencies and Attributes:

• Proficiency in auditing standards and generally accepted accounting principles and pronouncements, especially related to Healthcare industry.
• Supervise and direct Audit professionals.
• Excellent leadership, organizational and superior analytical skills, demonstrated in critical thinking, attention to detail and problem-solving.
• Ability to work in a matrix organization.
• Excellent verbal and written communication skills and ability to interface effectively with senior management.

• Must be self-directed.
• The ability to perform job duties with frequent interruptions or distractions.
• The ability to adjust priorities quickly as circumstances dictate.
• The ability to interact professionally with colleagues and/or customers for different purposes in different contexts.
• The ability to maintain composure under pressure.