Vice President, Chief Audit Executive Job in Dearborn, MI | Auto Club Group

    • Dearborn, MI



GENERAL SUMMARY:

Oversee an enterprise internal audit program that meets insurance, banking and bank holding company regulatory standards, as established by the Federal Reserve, the OCC and the NAIC. Report to the CEO, the ACE Committee, and the Bank Audit Committee, on the adequacy of internal control, governance and risk management systems and processes. Prescribe remedial action to address any significant control weaknesses, and report to the Committee on the progress of remediation, until closure.

Help facilitate the fiduciary oversight activities of the ACE Committee and the Bank Audit Committee. With the Chief Compliance Officer and the CFO, coordinate the planning of ACE and Audit Committee meetings. Support the Committee Chairs in managing the affairs of the each Committee.

Meet with the Committees regularly to report on risk and control issues, and to provide an overall assessment of the adequacy of internal controls. Meet privately with the Committees in "executive session" to ensure unfiltered communication on control, governance and risk management issues of a sensitive nature.

PRIMARY DUTIES AND RESPONSIBILITIES:

Set internal audit policy for the organization. Oversee the audit function in systematically assessing risk and developing risk-responsive financial, operational and IT audit plans. Obtain ACE Committee and Bank Audit Committee approval of annual audit plans, and oversee effective execution of approved plans. Ensure that the audit program is responsive to the current ACG business and regulatory environment.

Meet with and report to the ACE Committee and the Bank Audit Committee, on the adequacy of the organization's internal control and risk management systems. Advocate for a strong corporate control environment, as a member of the CEO's senior staff and a member of the Management Risk Committee.

Meet with regulators to support their supervisory and examination activities, and to facilitate their reliance on Internal Audit as a key corporate control function.

Review and approve audit risk assessments, audit plans, findings and recommendations. Review management responses to audit reports, and evaluate the adequacy of actions planned or taken to address control deficiencies.

Oversee Internal Audit involvement in investigations of fraud or misconduct. Assist HR and General Counsel in determining and documenting the facts. Provide litigation support to General Counsel, as needed.

Review and approve all internal audit reports before issuance. Sign and issue executive summary audit reports to the CEO and senior management. Prepare and present written reports to the ACE Committee and the Bank Audit Committee.

Ensure that Internal Audit devotes adequate attention to new systems, products, and programs under development, to ensure adequate risk management and appropriate balance between operating and control objectives.

Oversees the coordination of internal and external audit services to minimize redundancy and maximize audit coverage.

Ensure compliance with the Institute of Internal Auditors Standards for the Professional Practice of Internal Auditing , as mandated by the Internal Audit Charter.

Oversee department planning, budgeting, staff selection and staff development. Establish adequate management succession plans.

Qualifications

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

Bachelor's degree in Accounting, Finance, Information Systems, Business Administration or a related field.

Certified Public Accountant, Certified Internal Auditor, Certified Information System Auditor or Certified Fraud Examiner.

Ten years of management experience in internal audit, regulatory compliance, and/or corporate control/governance, including experience in regulated entities.

Strong writing and presentation skills.


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