Director - Internal Audit

Director - Internal Audit - IN
This Internal Audit role is responsible for providing strategic direction, leadership and management of the organization's internal audit services department. This job serves as a senior audit executive with full ownership and responsibility for entire lines of business. As a member of the internal audit services leadership team, this job develops and implements strategic and operational plans related to the implementation of the internal audit function's overall goals and objectives. This job will be responsible for independently evaluating the adequacy and operating effectiveness of the company's internal controls, the quality of ongoing operations, and exercises judgment in determining risk assessment and audit methods, techniques and approaches for obtaining results.

Key Responsibilities and Duties

• Participates in defining audit service standards for the organization to ensure consistency in and compliance with auditing practices.
• Fosters an innovative and collaborative working environment to deliver effective and efficient audits leveraging data analytics and information technology specialists, as appropriate, to identify and implement advanced testing methods.
• Oversees the development of audit scope, objectives, and work plans, including the selection of appropriate audit tests, identification of key controls, utilization of statistical methods, and use of survey, interview and computer-assisted audit techniques.
• Directs and leads all auditing activities, including reviews of accounting and financial data, critical business processes, as well as evaluation of the effectiveness of internal controls.
• Leads internal audit's risk assessment and continuous monitoring program to properly adjust audit coverage in response to changes in the company's risk and control environment.
• Evaluates the business operations and develops relevant, cost saving, control and process improvement ideas to assist the organization in meeting its goals.
• Counsels with company leadership about financial and regulatory matters and recommends improvements to business practices, processes, and control procedures.
• Directs the design, development, and implementation of internal auditing policy and procedures to drive consistency and operating efficiency.
• Counsels and partners with other functional leaders in developing and implementing solutions to remediate significant controls gaps.
• Manages performance of internal audit team members through regular, timely feedback as well as the formal performance review process to ensure delivery of internal audit objectives and engagement, motivation, and development of team.

Educational Requirements

• University (Degree) Preferred

Work Experience

• 8+ Years Required; 10+ Years Preferred

Physical Requirements

• Physical Requirements: Sedentary Work

Career Level
10PL

Company Overview:

TIAA Global Capabilities was established in 2016 with a mission to tap into a vast pool of talent, reduce risk by insourcing key platforms and processes, as well as contribute to innovation with a focus on enhancing our technology stack. TIAA Global Capabilities is focused on building a scalable and sustainable organization, with a focus on technology, operations and expanding into the shared services business space. Working closely with our U.S. colleagues and other partners, our goal is to reduce risk, improve the efficiency of our technology and processes and develop innovative ideas to increase throughput and productivity.

Key Duties & Responsibilities:

This position will be responsible for providing leadership, management and expertise within TIAA's Internal Audit Services department. While managing experienced professionals, this job serves as an audit executive with ownership and responsibility for multiple business areas and data analytics. As a member of the Internal Audit Services Leadership Team, this job develops and implements operational plans related to the implementation of the internal audit function's overall goals and objectives. This position leads a team of experienced professionals conducting complex analytics on confidential and time sensitive internal audit and advisory projects. This job is also responsible for independently evaluating the adequacy and operating effectiveness of the company's internal controls, the quality of ongoing operations, and exercises judgment in determining risk assessment and audit methods, techniques and approaches for obtaining results.

Internal Audit

• Participates in defining audit service standards for the organization to ensure consistency in and compliance with auditing practices.

• Identifies and evaluates fundamental operations and control issues, providing strategy and direction to attain compliance with control design, industry expectations and regulatory requirements with focus on operating effectiveness and efficiencies across the organization.

• Evaluates the business operations and develops relevant, cost saving, control and process improvement ideas to assist the organization in meeting its goals.

• Ensures timely delivery of audit results within budget against quarterly and annual audit plan expectations.

• Maintains responsibility for providing internal audit support for a sizeable portion of the business operations of the organization or may provide functional leadership on a specific aspect of internal auditing or both.

• Leads Internal Audit's risk assessment and continuous monitoring program to properly adjust audit coverage in response to changes in the Company's risk and control environment.

• Utilizes research, past audit reports, regulatory expectations and own risk-based judgment to determine areas of priority for internal audit review.

• Develops strong written deliverables, including executive reports and dashboards containing business-relevant information, including audit committee reporting.

• Manages performance of Internal Audit team members through regular, timely feedback as well as the formal performance review process to ensure delivery of Internal Audit objectives and engagement, motivation, and development of team.

• Fosters an innovative and collaborative working environment to deliver effective and efficient audits leveraging data analytics and information technology specialists, as appropriate, to identify and implement advanced testing methods.

Data Analytics

• Provides input into the development and leads the implementation of the data analytics strategy both within the core data analytics team and more broadly across Internal Audit Services.

• Understands industry-specific data analytics, business intelligence and quantitative analysis techniques and uses this information to ensure the organization's internal controls are effective.

• Manages the performance of the team through regular, timely feedback as well as the formal performance review process to ensure delivery of exceptional solutions and engagement, motivation, and development of team.

• Advises senior personnel within Internal Audit Services and across the company to resolve issues, gain needed information and influence outcomes.

• Manages the largest and most complex audit engagements and teams in special projects or implementation of initiatives.

• Manages the implementation of tools (e.g. SQL Server, Python, Tableau and Power Business Intelligence) to analyze data and automate processes to improve audit efficiency and effectiveness.

• Oversees the development of analysis and automation solutions which shape the scoping of complex audits and advisories.

• Influences and advises senior management within Internal Audit Services and across the company when communicating data analytics results and associated control recommendations to resolve issues.

Management/Leadership Responsibility:

• Manages a global team of direct / indirect reports, while leading strategic and important initiatives for the team.
• Hands-on role requiring technical and leadership skills in driving results.
• May interact with external contacts, such as external auditors and regulators, as needed.
• This position may be a potential successor to Head of TIAA India Internal Audit.

Business or Industry Expertise:

• Strong knowledge of internal audit best-in-class practices, risk management; and regulatory guidance and expectations (FRBB, OCC, SEC, State Insurance).
• Strong knowledge of the Institute of Internal Auditor's (IIA) International Professional Practices Framework (IPPF) to which the Internal Audit Services Department's methodology is aligned.
• Desired knowledge of financial services products, services and regulations.

Interactions / Interpersonal Skills:

• Regularly interacts with senior and middle management.
• Requires the ability to work effectively with many levels of the organization, and must display highly effective networking, advising, and influencing skills.

Job Requirements And Qualifications:

Required Education:

• Bachelor's degree in Accounting, Finance or other related discipline.

Preferred Education:

• Masters degree or MBA in finance or related discipline

Required Experience:

• Over twelve years of experience in public accounting and/or diversified financial services, including experience in an internal audit leadership role.
• Experience of data analytics in an audit environment, including experience in the management and/or use of data analytics tools and platforms such as SQL, Tableau, Python, Power BI, Altryx, Power Automate, Hadoop, Snowflake, and/or Splunk.

Preferred Experience:

• Strong knowledge of the Institute of Internal Auditor's (IIA) International Professional Practices Framework (IPPF) to which the Internal Audit Services Department's methodology is aligned.
• Experience in a regulated financial services environment
• Knowledge of financial services products, services and regulations.

Skills and Abilities:

• Strong knowledge and experience developing and delivering data analytics and continuous auditing/continuous monitoring programs
• Experience managing audit and data analytics resources, effective team interactions, providing timely and constructive feedback, negotiating issues and resolving problems.
• Superior verbal and written communications skills

Required Licenses/Certifications:

CIA, CISA, CFE, CA, CPA or similar professional certification is required. In the event that the candidate does not maintain one of these, the candidate will be required to complete a relevant certifications within 18 months of joining Internal Audit Services.

Related SkillsAdaptability, Auditing, Audit Process Improvement, Communication, Critical Thinking, Data Analysis, Problem Solving, Relationship Management, Technology Systems

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Company Overview

TIAA Global Capabilities was established in 2016 with a mission to tap into a vast pool of talent, reduce risk by insourcing key platforms and processes, as well as contribute to innovation with a focus on enhancing our technology stack. TIAA Global Capabilities is focused on building a scalable and sustainable organization , with a focus on technology , operations and expanding into the shared services business space.

Working closely with our U.S. colleagues and other partners, our goal is to reduce risk, improve the efficiency of our technology and processes and develop innovative ideas to increase throughput and productivity.

We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.

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