Embry Riddle Aeronautical University is the world’s oldest, largest, and most prestigious university specializing in aerospace and related disciplines. This private university was founded in 1925, and has two major residential campuses in Daytona Beach, Florida and Prescott, Arizona as well as a growing traditional campus in Singapore. Additionally, the University’s Worldwide campus has over 135 satellite locations in 9 countries and 33 states that offers nationally ranked degree programs to primarily working adults. Embry Riddle is creating a state-of-the-art integrated Enterprise Risk Management, Compliance and Internal Audit structure and seeks a new Internal Audit Director, who will report to the Chief Audit Executive responsible for all three of these functions. This creates an excellent opportunity to truly integrate Internal Audit into a broader risk function.Function of the Position:Plan and execute the annual internal audit plan approved by the Board’s Audit Committee and Senior Vice President and Chief Financial Officer. Work closely with the Chief Audit Executive to incorporate the results of the Compliance and Enterprise Risk Management functions into the audit plan. Conduct financial and operational audits to review and assess the effectiveness of internal control systems across the university. Prepare and communicate audit findings, conclusions and recommendations. Monitor the implementation of audit recommendations and initiate follow-up actions. Supervise senior auditors and, as needed, external subject matter experts to accomplish the audit plan. Provide advisory services to administrators requesting support on a variety of issues.
Principal Duties and Responsibilities (Essential Functions):
Partners with the Chief Audit Executive and uses the risk assessments prepared in the Enterprise Risk Management and Compliance programs to develop a broad based audit plan, addressing areas of risk across the university.
Performs thorough risk assessments and develops tailored audit programs. Utilizes data analysis to identify areas requiring specific audit testing.
Conducts and/or oversee financial and operational audits to review and assess the effectiveness of internal controls for university systems and processes. Collects or oversee staff collection of appropriate data and ensures the application of proper audit procedures to test compliance with university guidelines and university policies.Selects and manages external subject matter experts for audits of specialized areas, such as Information Technology and Construction Management.Partners with management to identify and resolve areas requiring improvement.Ensures that adequate work papers support audit results and that complete reports are prepared and maintained to document audit findings, conclusions and recommendations.Partners with management to facilitate agreement on audit issues. Participates in the review and discussion of audit findings, conclusions and recommendations with audited departments.Monitors the progress and status of agreed-upon corrective actions, communicate results in implementing changes. Attends and participates in staff meetings as required. Ensures internal audit work complies with professional standards, maintains independence and objectivity without being considered inflexible. Ensures department has a quality Assurance Review every five years, as required by the Institute of Internal Auditors. Periodically makes reports at scheduled meetings of the Audit Committee of the Board of Trustees.