Director of Internal Audit
The Internal Audit Director - Data Analytics, Financial and Operational Audit will be a dynamic business partner and leader across the CarMax organization. The Director will be responsible for developing the Internal Audit Plan for financial and operational audit as well as leading the initiative to advance our Internal Audit strategy for data analytics innovation. The Director will lead continuous improvement of audit methodologies, audit approach and related practices for achieving audit objectives and goals.
The Director will be proactive and provide actionable perspectives on the risks and opportunities associated with CarMax processes and systems to the appropriate business user groups, as well as Executive and Senior Management and the Audit Committee of the Board of Directors. This role will report to the AVP, Internal Audit.
• Develop the Financial and Operational Audit strategy. The Director will perform an annual risk assessment and develop the annual internal audit plan for all financial and operational areas. The assessment will be the foundation for the internal audit activities included in the Internal Audit Plan presented to the Audit Committee of the Board of Directors. The Director will lead development of project audit procedures, schedules, priorities and programs for achieving audit objectives and goals.
• Develop the Data Analytics Audit strategy. The Director will be strategic leader for all data analytics activities in Internal Audit. The annual risk assessment will also be the foundation for the data analytics and continuous auditing activities included in the Internal Audit Plan presented to the Audit Committee of the Board of Directors.
• Direct the audits of internal control over financial reporting for management assessment under SOX 404 of the Company's financial processes. The Director will drive the process to understand the key business and financial processes, test the key internal controls identified and then make recommendations to the appropriate financial and business user groups, as well as Executive and Senior Management and the Audit Committee of the Board of Directors, for improvements in internal control.
• Serve as a key business partner to Financial, IT and operational business user groups. Direct financial and operational audit projects in the Internal Audit Plan. Direct development of data analytics, analytical tools and continuous auditing to efficiently and effectively monitor risk across the organization. Collaborate with key partners. Leverage the use of information analytics, business intelligence, data mining and other enabling approaches, technologies and tools. Manage inventory audit process. Direct the development and/or execution of all continuous auditing functions.
• Oversee operational audits or special projects requested by Executive or Senior Management or the Audit Committee of the Board of Directors, including integrated audits with the IT audit teams or external consultants.
• Lead and develop a team of associates through timely performance feedback delivered during day-to-day observations, file reviews and an annual performance review. Responsible for creating individual development plans and business objectives designed to enhance and assist associate growth.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Strong leadership skills, including ability to motivate, influence, and persuade across all levels of the organization
• Ability to build and maintain strong business partnerships and stay connected with various areas of the business
• Ability to dig deep into detail while retaining a broad view of the strategy
• Adept at managing multiple priorities and business partners
• Superior ability to manage and communicate timelines and expectations with associates and business partners
• Seasoned ability to develop a team
• Proven ability to set realistic goals and work with all levels and functions to achieve stated goals
• Sense of urgency to execute against Internal Audit Plan
• Strong analytical and quantitative skills
• Collaborative approach based on the ability to listen and value others' opinions
• Ability to embrace and champion diversity of ideas
• Energetic, optimistic and enthusiastic mindset
• Strong team orientation across the entire organization
• Ability to grow associates through constructive feedback and encouragement
• Ability to understand public, legal and regulatory changes and their potential impact for CarMax
EDUCATION and/or EXPERIENCE:
The ideal candidate has the following educational qualifications and professional experience:
• Bachelor degree in Accounting
• Master's degree in Business Administration (MBA) or quantitative field (statistics, data science, predictive analytics, mathematics, accounting, finance, engineering) is preferred
• Professional certification as Certified Public Accountant ("CPA")
• Minimum of 10 years of audit experience, including significant experience with a public accounting firm, preferably one of the "Big 4"
• Minimum of 10 years of data analysis experience
• Minimum of 10 years of experience designing and delivering transformational strategic programs
• Previous responsibility for risk assessment and audit planning, execution and reporting
• Strong understanding of GAAP, COSO and COBiT
• A broad-based knowledge of internal control and SOX 404 compliance
• Significant retail industry knowledge and experience is preferred
• Excellent PC skills; ACL experience is a plus
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