Head of Internal Audit, Gap Inc.
Reporting directly to the Audit & Finance Committee of the Board, as well as the CFO, the leader of Internal Audit will play a crucial role in the continued development of a scaled global financial function with best in class internal controls, processes and systems required to support a global multi-channel retail operation. The head of Internal Audit will be responsible for leading the continued evolution of the internal audit function at Gap Inc. to provide independent, objective assurance on the adequacy and effectiveness of the company's internal controls and governance processes.
- Learning Agility
- Trust & Honesty
- Collaboration & Influencing
- Trust & Honesty
The head of Internal Audit leads the Financial, Operational, IT & Strategic Audits in addition to the Store Compliance Audit team.
They participate on the FLT, ERM Committee and Data Privacy & Security Council as well as leading own functional area.
This position requires broad audit knowledge, including strength in IT security. This position interacts at all levels of the organization up to the Board of Directors and benefits from strong experience in the areas of: Financial / Operational / IT audit; Cyber Security; Compliance; Supply Chain Operations; and Store Operations. This role frequently interacts with all brands as part of executing the annual audit plan.
- Develop and maintain an effective functioning audit and controls program including risk assessment, governance, controls, monitoring, and reporting to ensure compliance with requirements related to being a publicly traded company.
- Work collaboratively with leadership in supply chain, retail operations, finance, information technology, and compliance to ensure the existence of an effective control environment.
- Manage an Internal Audit function which consists of an internal team that is augmented with co-source partners engaged to deliver specialized audit or cyber security services.
- Develop and execute a comprehensive audit program that is responsive to the enterprise-level, operational, financial, control, and compliance risks within Gap Inc.
- Ensure management receives clear, factual, timely, and unbiased reports on risks faced, effectiveness in managing such risks, and pragmatic recommendations for improvement.
- Present to the Audit and Finance Committee the annual audit plan, including periodic updates of status and key findings.
- Conduct the company's annual Enterprise Risk Assessment and present findings to the Audit and Finance Committee.
- Maintain an ongoing enterprise risk monitoring process and publish quarterly updates.
- Identify opportunities to enhance control and compliance within the organization, such that the Company's Risk Profile is reduced and risks mitigated to acceptable levels throughout the organization.
- Evaluate the adequacy and effectiveness of controls relating to reliability of financial information, operating effectiveness, safeguarding of assets, information systems environment, and compliance with laws, regulations, and contracts.
- Drive action to remediate control deficiencies.
- Direct fraud investigations, Code of Business Conduct reviews and other special assignments requested by senior management and the Audit and Finance Committee.
- Establish a customer service focused Internal Audit function by forming solid relationships with our business units and operating divisions.
- Develop and actively manage effective service agreements with co-source partners, and with Deloitte, Gap's independent external auditor.
- Manage the Store Compliance Audit function in North America and provide technical oversight to the international regions.
- Develop and mentor capable leadership to manage the Internal Audit function; such individuals should become highly sought after professionals in our organization and their placement into significant operating and financial positions should be a measurement of the success and leadership of this individual.
- The successful candidate will be a demonstrated leader with a proven track record of success as an accounting/finance executive in a global, transaction intensive organization.
- 10-15 years proven financial management and operating control experience in a global organization. Technically strong in financial reporting and experienced with operational accounting processes and systems in transaction intensive environments.
- Exceptional ability to define problems, collect data, establish facts, and draw valid, actionable conclusions.
- Expertise in the practices and principles of internal audit and related risk management. Capable of providing a global/multi-national perspective on issues of risk, control and compliance.
- Exceptionally strong results orientation and bias to action. Healthy impatience for change. Willingness to ask the tough questions and challenge the status quo.
- Strong influencing skills which inspire trust and confidence and command the respect of the peer group and executives throughout the corporation.
- Proven team leader, collaborative decision-making and work style. Excels at understanding what it takes to implement sustainable operating improvements in large scale, global environments.
- Strong reputation for professional integrity, seasoned business judgment, and objectivity.
- Strong communication skills, written and verbal; effective and credible presenter to the Board.
- CPA or CIA required, MBA preferred.
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