Lead Internal Auditor

Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the worlds largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

Summary

The Lead Internal Auditor plans and performs all financial and operational audits that have a broad impact on the business to ensure the soundness and adequacy of controls in compliance with best practice research, adopted frameworks, policies and procedures as well as any applicable regulations; performs findings follow-up to validate that action plans were appropriately implemented by the business and effectively address the finding risk and recommendations. Works independently with guidance in only the most complex situations; may lead project teams to achieve milestones and objectives.

Schedule & Location:

This is a full-time office-based position that requires in office presence four days per week, with flexibility for remote work one day per week; on either Tuesdays or Fridays. Eligible locations for this position are Johnston, RI (preferred), Waltham, MA or Norwood, MA following the schedule above. If the employees preferred location is in MA, employee will be required to commute monthly to Johnston, RI for meetings as well as one weeklong event each year.

Responsibilities:

• Plans and leads complex audit test work, requiring the application of significant judgement
• The plan is developed utilizing a risk-based approach that involves:
  • Identification of process objectives and related risks
  • Evaluation of the risk likelihood and impact
  • Identification of relevant controls
  • Assessment of adequacy of controls based on risk
  • Development of the audit program

• Manages the audit process based upon the audit program developed during planning including:
  • Assigning work to the team based on required skills
  • Providing guidance on performance of the work
  • Reviewing the work of junior team members
  • Leading status meetings with the business and ensuring the audit is progressing in accordance with expected timeframes
  • Assesses the significance of findings, evaluates root causes, ensures recommendations adequately address the root cause, evaluates all findings in aggregate to determine an overall conclusion and rating for the audited area, drafts the audit report

• Evaluates the completeness and accuracy of risk assessments supporting our testing of Internal Control over Financial Reporting (ICFR) for documented and undocumented processes including: assessing the completeness and materiality of business sub-processes, evaluating the completeness of identified risk utilizing the financial statement assertions, assessing the adequacy of related key controls and developing required test attributes based on all of the risks the control is addressing
• Builds relationships with stakeholders. Involved in activities such as attending management meetings, risk management committees and providing advice to the regional management on risk and control matters.
• Participates in special projects and performs other duties as assigned.

Required Education

• Bachelor Degree in Accounting or Finance

Highly Preferred Education

• Masters Degree in Accounting, Business Administration or related field
• Professional designation (e.g. CPA, CA, CIA, CISA)

Required Work Experience

• 4-6 years of experience in an audit-related field in a corporate setting
• Experience planning audit engagements and auditing non-financial processes and controls
• Mix of external and internal audit experience

Highly Preferred Work Experience

• Lead or Supervisory experience in the audit setting
• Insurance industry experience

Required Skills

• General Awareness of all the requirements of the IIA Professional Practices
  Framework with:
• Expert level knowledge in the following areas:
  • Accounting and finance:
    • Financial and managerial accounting
      concepts and underlying principles, audit techniques inquiry, observation, reperformance, analytical procedures, and general business operations
  • Sampling:
    • Appropriate sampling techniques for routine and unique or complex populations not addressed in current guidance.

• Advanced working knowledge in the following areas:
  • IT Application Controls:
    • Ability to identify application controls within a process and assess related testing design and impact of testing results on any additional audit procedures and on the audit opinion.
  • Organizational Governance:
    • Identify governance related risks in audit processes, develop audit procedures to test
      governance risks, and conclude on work performed.
  • Internal Control:
    • Use an internal control framework or best practice research to identify and examine the effectiveness and efficiency of internal controls
    • Assess process for adequate Segregation of Duties
    • Conduct financial analyses in areas requiring significant judgement
    • Validate reasonableness of responses to our inquiries and clearly document conclusions on the financial analysis
  • Audit Evidence and Documentation:
    • Evaluate the relevance, sufficiency, and reliability of potential sources of evidence.
    • Identify instances where additional procedures need to be performed.
    • Apply analytical review techniques to complex areas that require judgement.
    • Prepare workpapers and documentation in the most complex and judgmental areas of the audit.
    • Evaluate audit engagement documentation prepared by junior auditors

• Demonstrated working knowledge in the following areas:
  • Independence and objectivity
  • Ethics and Professional Skepticism
  • Proficiency/Competency
  • Confidentiality and Distribution of Documentation
• Soft Skills:
  • Strong attention to detail, ability to multitask, and work in a
    deadline driven environment
  • Self-motivated individual with a strong need for achievement
  • Strong analytical and problem-solving skills
  • Effective written and oral communication
  • Strong commitment to development
  • Active collaborator and team player
  • Builds trust by honoring commitments and by being open and honest at work, despite competing priorities

This position is advertised as two levels and based on the finalist's skills and experiences, final job grade and salary will be communicated to the finalist of choice. This position is open to hiring a grade 14 or a grade 15 and the final title will be confirmed after an evaluation of the new hire's skills and experience.

The final salary offer will vary based on individual education, skills, and experience. The position is eligible to participate in FMs comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.

FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.