Embry-Riddle Aeronautical University ("Embry-Riddle", or the "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 design and 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 incorporates the risk assessments prepared by 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.
Develops and tracks budgets and schedules for audit projects.
Conducts and/or oversees audits to review and assess the effectiveness of internal controls for University systems and processes.
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. Maintains a consultative approach to audit and an upbeat, collegial attitude.
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.
Provides technical assistance with investigations and special audits, and provides subject-matter expertise as needed.
Brings innovation and efficiency to internal processes.
Remains current on internal audit trends and best practices.
Maintains an internal audit quality assurance and improvement program.
Ensures internal audit work complies with professional standards, maintains independence and objectivity without being considered inflexible.
Periodically makes reports at scheduled meetings of the Audit Committee of the Board of Trustees.
Job Specifications (Knowledge, Skills and Abilities)
Knowledge of auditing procedures, practices, theory and application of internal controls.
Knowledge of present day information systems and networks.
Ability to conduct complex audits including state and federal compliance audits of contracts, grants, and student financial assistance programs.
Ability to establish and maintain effective working relationships with University personnel.
Ability to effectively supervise on-site and remote auditors.
Excellent communication (oral and written) skills.
Ability to prepare audit reports.
Excellent organization skills.
Knowledge of contemporary desktop computer applications such as word processing, spreadsheets, project management and email software systems.
One or more of:
Certified Public Accountant (CPA)
Certified Internal Auditor (CIA)
Certified Information Systems Auditor (CISA)
Bachelor’s degree from an accredited college or university in a related field (e.g., business administration, finance & accounting, or information technology).
10+ years of progressive experience leading audit engagements and teams in public accounting and/or internal audit departments. Preference will be given to candidates with experience working with higher education institutions. Consulting experience is a plus.
Completion of required continuing professional education required for certification.
Minimum. Must be able to ensure performance objectives of the function are met through independent effort with a high degree of autonomy and professionalism.