Head of U.S. Audit Services
- Malvern, PA
Head of U.S. Internal Audit Services
Vanguard's Finance division is a talent destination for exceptional financial professionals looking to be part of a best-in-class organization that is one of Vanguard's most trusted voices. The Finance Division is currently seeking a Head of U.S. Audit Services to help the Board and Executive Management protect the assets, reputation and sustainability of the organization.
About the Internal Audit Group:
Vanguard's Internal Audit (IA) Department is represented by approximately 135 crew globally. The department is comprised of collaborative, hard-working, highly motivated, and technically skilled professionals who consistently deliver high-quality work in a challenging and fast-paced environment. Within Vanguard, IA is seen as a critical line of defense for the organization and is valued as a trusted voice and indispensable partner. Additionally, IA has demonstrated a consistent track record of developing and feeding talent to the broader Business, Risk, and Finance organizations of Vanguard. IA brings a consultative and progressive approach to their work, which is predicated on a culture of enhancing risk management and business outcomes for its stakeholders, actively contributing to the development of its crew, and embracing a mindset of innovation and continuous improvement.
About the Head of U.S. Internal Audit Services role:
Vanguard seeks a Head of U.S. Audit Services to help identify and manage risk to its business and investors. As a direct report to the Chief Audit Executive this position would lead a team of 20-30 individuals, including 3-4 direct reports with 8-15 years of experience, dedicated to audit coverage of Vanguard's largest lines of business. In addition to mentoring and leading the team, the Head of U.S Audit Services will be responsible for setting the audit plan and strategy for the Internal Audit department's coverage of product distribution, investment advice, client services, and account operations across three divisions aligned to serve retail, intermediary and institutional clients. In addition, this role is responsible for maintaining primary relationships with divisional leadership and risk partners, have ultimate responsibility for all engagements, and will impact the future shape of the audit organization.
The U.S. Audit Services Group is located in Malvern, PA and also covers business operations in Scottsdale, AZ and Charlotte, NC. With a number of strategic initiatives underway in the Retail, Financial Advisor Services, and Institutional Investor Group Divisions, the Head of US. Audit services will be expected to effectively liaise with senior leadership sponsors of strategic programs and guide audit teams, risk groups, and business leaders to help them understand risk and control implications and propose solutions to potential business risk challenges. A successful candidate will bring a consultative approach and solutions-oriented mindset to this role as it relates to supporting ongoing operations and change initiatives. This leader's knowledge, experience and understanding of leading practices in investment and wealth management businesses with be extremely useful in delivering value to Vanguard and Internal Audit's business partners.
In this role you will:
- Manages a portfolio of audit coverage and relationships with senior staff and other senior executives. Scope of responsibility includes audit coverage of Vanguard's primary U.S. businesses (Financial Advisor Services, Institutional Investor Group, and Retail Investor Group) for domestic Exchange Traded Fund, Mutual Fund, and other investment product distribution, client services, and brokerage, transfer agent, and retirement plan recordkeeping operations
- Oversees audit reports and other communications to senior management. Assists the Chief Audit Executive in preparing communications to the audit committee of the board of directors. Communicates insights and reporting audit committees of the boards of directors, with specific responsibility for reporting to the Affiliates Audit Committee that governs entities including Vanguard's broker-dealer, registered investment advisor, nationally chartered trust company, and Pennsylvania chartered trust company
- Develops the annual audit plan for areas of responsibility to achieve departmental and corporate objectives, and commensurate with risk level. Demonstrates initiative and creativity in influencing, recommending and implementing solutions. Audit plan includes coverage of operations, specific work to meet expectations of regulators, assistance with external auditors in completing control attestation reports and coverage of large-scale, strategic business changes
- Consults with key management personnel to assist in developing the strategy of the audit plan and overall audit coverage for U.S. retail, intermediary, and institutional client facing businesses
- Coordinates with Risk Partners (i.e., Enterprise Risk, Compliance, Information Security, Fraud team, etc.) to assess corporate initiatives, issues, strategic decisions, and the top risk focus areas of the company
- Represents Internal Audit through participation of various business committees, providing proactive feedback on corporate risk management, internal controls, and governance efforts.
- Establishes and maintains strong working relationships with peers, divisional management, as well as PricewaterhouseCoopers and other strategic internal and external business partners
- Develops staff and ensures that audit professionals have sufficient expertise in mutual fund transfer agent and brokerage operations, mutual fund and ETF distribution processes, wealth management and client services, and retirement plan services; and are able to assess and advise on complex operational risk topics, including applying an understanding of operational and regulatory expectations of applicable governance bodies, especially FINRA, SEC, DOL
- Participates in the development of departmental and project budgets. Reviews expenses and ensures that the team is operating within budgetary guidelines
- Ensures operational efficiency and effectiveness within the unit. Sets measurable goals and examines ways to raise standards, to increase quality and to improve overall performance
- Manage and develop a team by providing guidance, training, and motivation necessary to develop staff
- Accepts overall responsibility for the team's progress and measures success in completing the annual audit plan for the division, and in meeting departmental objectives
- Manages multiple projects at both the departmental and divisional level, and performs other related duties as assigned
What it takes:
- Undergraduate degree or equivalent combination of training and experience. (BS or BA in a business related field of concentration. Professional certification or advanced degree including CPA, CIA, MBA preferred)
- Minimum of fifteen years of overall business and or finance experience, coupled with 8 plus years in leadership roles specific to internal audit or risk management
- Knowledge and experience of investment management or wealth management business and operations
- Excellent leadership, interpersonal, verbal and written communication, presentation, relationship management and problem solving skills
- Experience in situations requiring diplomacy, influencing and negotiation
- Ability to travel
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