Director, Internal Audit

Position Summary:

Reporting to the CFO, the Director, Internal Audit through risk-based Internal Audit and Advisory activities, provides assistance to and motivates management to improve the quality and effectiveness of the co-operative’s control environment. This position has a high profile and degree of influence across the organization, and is required to establish and maintain effective working relationships across all levels of the areas of the organization.

Key Responsibilities/Accountabilities:

  • Design, develop and implement a comprehensive annual internal audit risk assessment of the Cooperative. Develop a risk-based Internal Audit Work Plan, assign priority weightings and submit to Audit Committee for approval. Obtain Senior Management and CEO support of the plan.
  • Lead the design and execution of internal audit programs including inventory controls to effectively and efficiently assess internal controls at all relevant levels (i.e. business unit, departmental, process and transactional).
  • Lead and develop internal audit staff to ensure work is in accordance to Institute of Internal Auditor (IIA) standards and the practices employed are aligned with the enterprise culture.
  • Lead and administer the co-operatives’ fraud prevention program (i.e. Code of Business Ethics, Fraud register, Hot line etc.)
  • Recommend root cause improvements to management’s controls designed to safeguard organization resources, promote organization growth, and ensure processes are in place to comply with government laws and regulations.
  • Prepare and present oral and written reports to the senior leadership team, Audit Committee and Board of Directors and employees.
  • Coordinate the Audit Committee’s oversight of the performance of the Internal Audit Function.
  • Establish policies for the auditing activity and direct its technical and administrative functions.

Qualifications required for the position:

  • University degree with 12+ years of experience.
  • Must have an accounting designation: CPA, Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE) and Certified Information Systems Auditor (CISA) designations are considered an asset.
  • Possess a successful track record in the development and implementation internal controls and processes designed to ensure the utmost compliance with policies, procedures, laws, and regulations.
  • Practice high level communication skills, both verbal and written, including listening and negotiating.
  • Must have operated in a senior capacity.  Leading and/ or managing an audit function and/or large internal audit teams.
  • Comfortable working and managing relationships with Boards and senior management teams and quickly be able to gain their trust, confidence and respect.
  • Able to sell internal audit concepts in a practical common sense way across the organization to help them understand how new programs will assist them to improve their operations and profitability.
  • Flexibility for occasional travel.