The Director Internal Audit conducts internal audit activities within the organization, including providing independent, objective assurance and consulting activity designed to add value and improve the organization's operations. The Director Internal Audit works directly with the SVP Internal Audit to validate auditable entities and risk factors and to develop the long-range risk assessment and audit plan. The incumbent will be responsible for directing multiple highly technical and complex concurrent audit engagements and the overall evaluation of key risks and internal controls, This role will include the oversight of financial, operational, compliance/regulatory or strategic business function reviews and related risks and controls. May also include the execution of special investigations/audits involving cases of fraud, waste, and abuse and/or ethical/regulatory complaints. The Director Internal Audit operates as an ambassador and champion of the Internal Audit vision and strategy by demonstrating support and actively communicating with the team and the business.
Provide oversight and direction in the execution, and reporting of internal audit engagements and projects within established timelines and budgets. Provide high –level strategic guidance and direction to the team to ensure the entire audit engagement lifecycle is conducted in a manner consistent to NYPA’s and Institute of Internal Auditors (IIA) standards.
Review and approve the benchmarking of operational processes and controls, and communicate opportunities for efficiencies/performance improvement based on leading practice.
Oversee the annual risk assessment cycle and participate on risk alignment committees on behalf of Internal Audit to encourage collaboration between internal stakeholder groups.
Drive and contribute to non-audit specific strategies and initiatives for the department including NYPA’s strategic initiatives.
Provide oversight and direction to third party consultants where subject matter expertise is required
Oversee Audit’s engagement operations and address the occurrence of unanticipated issues, adjusting resources as needed, demonstrating flexibility assisting the team in prioritizing and completing tasks and communicating potential conflicts and recommended solutions to the SVP Internal Audit.
Provide oversight and direction to the Audit team in conducting testing procedures including, but not limited to, detailed tests of controls including sampling/confidence levels, analytical procedures, Computer Assisted Auditing Techniques (CAATs), and other audit procedures to address risks identified and test internal controls; responsible for directing work conducted by audit engagement teams.
Oversee and review the drafting of internal audit reports and other audit deliverables, directing the work conducted by audit engagement teams. Guide Audit Managers in approving documentation of processes and sub-processes in the form of walkthroughs (in a format that allows them to be re-performed), narratives, and flow charts for audit areas in scope as prepared by audit engagement teams.
Direct and guide integrated Internal Control Audits as necessary including evaluating IT general controls with the assistance of IT Audit team members, as appropriate.
Collaborate with the SVP Internal Audit in developing the technical skills and audit capabilities of the staff through informal on-the-job training techniques and through formalized instruction in topical areas.
Ensure the maintenance of client documentation by providing knowledge and direction of industry safekeeping practices.
Keep current as to developments related to matters of interest to the department, such as pronouncements by the FASB, IIA, FERC and others; keep abreast of evolving audit techniques and practices and share information with the team as appropriate and coach staff on information obtained.
Assist the SVP Internal Audit in contributing to the strength of the internal audit profession through attendance and participation in meetings with key stakeholders.
Provide support to the SVP Internal Audit in:
a) Coordination of plans with independent auditors, if applicable
b) Recruiting efforts
c) Staff performance evaluations
d) Communication of plans with members of management
e) Enforcing compliance with administrative practices, such as reports of weekly planning objectives and time reports.
Excellent managerial and administrative skills are required, to handle multiple complex audits being simultaneously carried out.
Ability to demonstrate high standards of integrity, values, principles, work ethic and professionalism.
Ability to drive and contribute to non-audit specific strategies and initiatives for the department is required.
Expert knowledge of relevant auditing concepts and techniques and thoroughly familiar with COSO, GAAP, GAGAS, FERC, FASB and IIA standards.
Strong knowledge of typical Internal Audit functions and operations
Thorough understanding of the electric utility industry including familiarity with current trends in marketing, rate setting and generation, transmission and distribution
Ability to execute a comprehensive risk assessment, prioritize results, rationalize resources and create a draft Internal Audit Schedule.
Ability to manage teams in the identification and articulation of key risks and controls through processes and sub-processes and to devise and execute audit steps for a variety of audits
Ability to effectively plan, organize, execute and supervise a variety of complex audits conducted simultaneously; ability to supervise various levels of auditors and develop their skills and provide leadership
Deep knowledge and application of audit concepts and techniques
Expert written and oral communication skills; requires critical thinking and analytical ability in accumulating and interpreting large amounts of data and information to identify audit issues and develop practical cost effective solutions
Excellent leadership to inspire and motivate others to perform well; ability to provide continuous performance feedback and encourage growth and development of staff required
Provide creative input that will drive greater efficiency and value to the audit process; participate in the development of new internal audit processes and ongoing process improvements
The ability to develop auditors, seniors and team leads to maintain their motivation while ensuring quality of work, team resources understand assignments, priorities and expectations and are held accountable for success
Strong interpersonal skills and has ability to interface effectively with peers and clients
Excellent understanding of sampling strategies and confidence levels and experience with use of data analytics applied to audits
Ability to manage third party vendors
Deep skills in execution of project management techniques and engagement closure
Strong/excellent negotiation skills
Demonstrated ability to thrive in a dynamic, fast-paced environment and manage multiple projects/resources simultaneously
Excellent knowledge and experience with auditing tools such Microsoft Access, Word, Excel, PowerPoint, SharePoint and Visio
The ability to use available technical resources and tools to research and expand one's sphere of knowledge to enhance audit value
The ability to remain up-to-date on industry trends and NYPA-related strategic intent while sharing the knowledge amongst the team where applicable.