Head of Audit
The ARGroup of Search Companies
New York, NY
See who The ARGroup of Search Companies has hired for this role
Company
The client is a well rated organization in the life insurance and annuities space. The organization has experienced remarkable growth which has been propelled by substantial investments in M&A and reinsurance transactions, along with the steady rise in life and annuity sales.
Scope
The Vice President, Internal Audit (Head of Audit) is a senior level management position with a dual reporting line to the Audit Committee of the Board of Directors and the Chief Financial Officer. The Vice President, Internal Audit manages the development, execution, and continuous improvement of a risk-based audit plan for key components of the business, covering operational and financial activities, regulatory risks, and internal controls.
Responsibilities
The client is a well rated organization in the life insurance and annuities space. The organization has experienced remarkable growth which has been propelled by substantial investments in M&A and reinsurance transactions, along with the steady rise in life and annuity sales.
Scope
The Vice President, Internal Audit (Head of Audit) is a senior level management position with a dual reporting line to the Audit Committee of the Board of Directors and the Chief Financial Officer. The Vice President, Internal Audit manages the development, execution, and continuous improvement of a risk-based audit plan for key components of the business, covering operational and financial activities, regulatory risks, and internal controls.
Responsibilities
- Lead all facets of the Internal Audit function, encompassing annual planning, risk assessment outcomes, adjustments to the audit plan, status updates on unresolved audit matters, and management of Internal Audit resources and finances.
- Provide impartial assurance to the Audit Committee and senior management regarding the organization's governance, risk, and control environment. Ensure timely communication of trends and emerging issues that could impact the organization.
- Develop, execute, and uphold a comprehensive risk-oriented audit plan to assess control effectiveness in managing significant risk exposures, ensuring data and financial reporting integrity, safeguarding company assets, and complying with regulations.
- Conclude and communicate audit discoveries, collaborating with management to devise and implement pragmatic solutions for strengthening internal controls. Evaluate the adoption of new controls as needed and monitor progress on unresolved audit matters until resolution.
- Cultivate a high-performing team and efficiently allocate resources across audit tasks and deliverables. Direct the Internal Audit team in executing the internal audit plan, overseeing every phase from planning to reporting, follow-up, and escalation.
- Foster strong partnerships with stakeholders and management, including the Chief Risk Officer, to support the Company’s evolution and tackle emerging enterprise risks. Serve as a trusted advisor to stakeholders and partners, aligning audit endeavors with their goals.
- Cultivate strategic partnerships with external audit resources and oversee co-sourced projects, including MAR. Effectively manage external assistance and associated expenses while ensuring rectification of identified deficiencies.
- Proactively identify improvements to internal audit standards and techniques to enhance overall efficiency and quality. Continuously expand proficiency in data analytics and technology, such as generative AI, to augment audit testing; explore opportunities for continuous monitoring and standardized test plans.
- Coordinate the disaster recovery and business continuity planning process.
- Bachelor's degree required
- CPA, CIA, CISA or other relevant credentials, as well as 10+ years in corporate Internal Audit within an Insurance or Financial Services organization
- Strong knowledge of Internal Auditing methodologies, standards, tools, and processes (e.g., risk assessments, planning, testing, reporting and continuous monitoring) as well as the ability to perform a gap analysis as standards are updated by the IIA and develop training plans
- Experience using technology and automation tools to enhance audit testing and data analytics and drafting executive level documents such as audit committee slides, board reporting, stakeholder executive materials and regulator responses
- Life/Annuity experience preferred. Comp is open but the appetite is generally in the $375,000 - $400,0000 range all in.
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Seniority level
Executive -
Employment type
Full-time -
Job function
Accounting/Auditing and Finance -
Industries
Insurance
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