The Director of Internal Audit will work closely with the VP Internal Audit toward developing an annual audit strategy to enhance governance, controls, risk management and DRS operations.
Duties and Responsibilities:
The Director Internal Audit will be a “working manager role” that will assist in development and implementing a rolling five-year internal audit strategy that also executes to the requirements of the Finmeccanica Corporate internal audit charter. Assist in developing the enterprise-wide risk assessment and execute the yearly internal audit plan for the Company and all subsidiaries through effective management of a team of professional internal auditors and support staff.
- Manage Internal Audit staff effectively through the various phases of an audit engagement with considerable focus on the qualitative aspects of the department’s work products and reports.
- May on occasion provide professional advice and consultation to organizations as a financial control subject matter expert.
- Assist the VP Internal Audit in developing and executing the annual Internal Audit Plan including preliminary coordination with target auditees in the planning and auditor work assignments for the engagement.
- Assist in managing TBD assignments with Co-Source outside auditors (PwC, E&Y, etc.) to assist in meeting various audit objectives including IT and special audits as necessary.
- Responsible for working closely with auditors and Internal Audit Manager in their professional development of various financial analytical acumen, communication (written and verbal) skills, audit sampling, testing and recommendation processing.
- Effective interactions with Senior Financial Managers and other stakeholders is a considerable success factor for this role.
- Interacts considerably with the VP Internal Audit to report the status of Internal Audit’s ongoing monitoring activities; educates/informs on emerging risks and exposures that should be considered; and provides periodic reports with the necessary content and depth so the VP Internal Audit can carry out their risk management requirements, and assess Internal Audit functional performance
- Provides monthly status reports to appropriate senior management including proactively informing them of significant risks or exposures related to internal controls, compliance and/or governance requiring prompt attention
- Leads special projects as approved by the Audit Committee, Chief Executive Officer, Chief Financial Officer and/or General Counsel
- May participate with the VP Internal Audit in attending executive management meetings and/or committees to ensure that Internal Audit is well-informed of key business developments that could have an impact on internal audit priorities and plans
- Provides support to legal investigations as required
- Manages the activities and requirements of the Internal Audit function:
- Applying industry knowledge in order to assess and monitor industry and regulatory risks and to implement and execute effective compliance reviews of Government activities and programs
- Performs an annual enterprise-wide risk assessment, updates the Company’s enterprise risk management framework and presents the update to the VP Internal Audit.
- Oversees the execution of the individual audits as defined in the internal audit plan ensuring the highest level of service quality
- Provides quarterly risk assessment and internal audit plan updates
- Maintains the underlying internal audit function processes consistent with Professional Standards of the Institute of Internal Auditors
- Manages the process to track, follow-up, and ultimately close all open audit issues with specific auditee management.
- Oversees Internal Audit’s participation in critical business and technology initiatives and projects (including ERP conversion) ensuring that internal audit’s perspective is effectively voiced and appropriate controls are designed and implemented on a proactive basis
- A Bachelor's Degree in a Finance and/or Accounting is required and a Masters in Business Administration is considered a plus.
- CPA/CMA/CIA certification preferred
- At least 10-15 years of financial management and/or audit experience or an equivalent combination of education and experience thereof.
- Minimum of 5 years’ experience managing teams on-time and on-budget.
- Ability to operate at a strategic level, capable of interacting effectively with senior management at various operational levels not exclusive to Finance.
- Strong demonstrated knowledge of accounting rules and regulations including IFRS, Cost Accounting Standards (CAS), Federal Acquisition Regulations (FAR), Generally Accepted Accounting Principles (GAAP) and knowledge of governmental accounting methods, procedures and reporting requirements; ideally with substantial experience gained in the aerospace and defense industry.
- Familiarity with a variety of internal audit functions, concepts, practices and procedures, and a commitment to remain current of developments of same
- Excellent business and communication skills with the ability to focus on the big picture, understand key priorities, communicate clearly and concisely, and bring a business perspective to leading the internal audit function.
- Expertise in the maintenance and control of appropriate data collection and recordkeeping systems.
- Analytical skills to evaluate, prioritize, and categorize data in various forms and formats.
- Ability to work effectively with leaders of other oversight functions in coordinating efforts to maximize risk coverage and minimize duplication. Includes ability to identify and highlight issues requiring senior management attention, while resolving minor issues without senior management involvement.
- Strong leadership and team building skills with the ability to direct and control overall organization resources.
- Strong problem-solving skills, including creativity and innovative thinking, combined with a willingness to challenge the status quo.
- Promotable, with capabilities for ascension and / or assumption of duties beyond internal audit
DRS Technologies, Inc. is an equal opportunity/affirmative action employer. We consider applicants without regard to race, color, religion, creed, gender, national origin, age, disability, genetic information, marital or veteran status, or any other category protected by federal, state or local law.
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