Director, Internal Audit

The Director of Internal Audit is responsible for leading the internal audit function at Vanderbilt University (VU) and will work collaboratively as part of a co-sourced model. The Director role is an integral part of the university’s collaborative effort to enhance internal audit capabilities and provide valuable insights to the institution. Reporting functionally to the Chair of the Audit Committee of the VU Board of Trust and administratively to the Senior Director of Risk and Insurance Management within the Office of the General Counsel (OGC), the Director of Internal Audit will collaborate with the university’s co-sourced audit partner to act as the university’s Chief Audit Executive (CAE).

The Director of Internal Audit plays a pivotal role in overseeing the strategic direction, coordination, and execution of all internal audit activities. The Director co-leads the development and execution of the annual audit plan, ensures delivery of high-quality work products from audit team members, and works collaboratively with the co-sourced audit firm engaged to provide audit services. The Director partners with the co-sourced firm in delivering triannual updates to the Audit Committee regarding the progress of the approved annual audit plan.

Internal Audit:

The internal audit function serves the university by providing independent assessments of governance, risk, and control activities. The team works collaboratively within the larger OGC function to provide value-added services to identify risks, propose mitigation strategies, and promote a robust internal control environment.

Key Functions and Expected Performance:

• Collaborate with the co-sourced partner to lead the Internal Audit functions including responsibility for persons, process, systems and strategic direction of the work unit.
• Provide strategic leadership aligning audit activities with the institution's goals and objectives.
• Coordinated Audit Planning, Execution, and Oversight: support the co-sourced partner by providing oversight of the preparation of comprehensive audit reports, ensuring clear communication of scope, findings, recommendations, and risk assessments.
• Risk Assessment: guide the comprehensive risk assessment process to identify potential risks to the university, including financial, operational, strategic, and reputational risks.
• Reporting and Communication: Present status of approved internal audit plan, audit results, and other significant updates to Audit Committee on a tri-annual basis (more frequently, as needed).
• Policy Development: Develop and maintain internal audit policies, procedures, and guidelines to ensure consistent and effective audit management practices across the university.
• Risk Monitoring and Reporting: Establish and maintain systems and processes for ongoing monitoring of risks (audit & operational) as well as timely reporting to senior management and relevant stakeholders.
• Vendor Management: Oversee relationships with external vendors such as the co-sourced audit vendor(s) to ensure the university receives optimal services and support in managing risks and insurance matters.
• Stakeholder Engagement: Collaborate with key stakeholders, including senior management, department heads, legal counsel, and external advisors, to communicate risk-related issues, obtain buy-in for risk management initiatives, and foster a risk-aware culture within the university.
• Executive Reporting: Prepare and present reports on internal audit matters to executive management, and other relevant committees as required.

This is a hybrid position and is expected to be on campus a minimum of three days per week.

Supervisory Relationships:

This position has direct supervisory responsibility, as well as indirect supervisory coordination responsibility for external teams including internal auditors, and other consultants.

Education and Certifications:

• Bachelor Degree in Finance, Accounting, Business Administration or similar field is necessary.
• Master of Business Administration degree or Higher Education Administration is preferred.
• Certified Public Accountant (CPA) or Certified Internal Auditor (CIA) license is necessary.

Experience and Skills:

• Minimum of ten years of audit experience in a complex organization is necessary. Higher education experience is required.
• Minimum of five years of supervisory experience of professional staff is necessary.
• Thorough understanding of financial, operational, and compliance risks related to business processes and the ability to analyze such processes to identify significant issues, associated risks and value-added controls is necessary.
• Knowledge of the IIA professional practices framework is necessary. Experience leading Quality Assurance Reviews is preferred.
• Working knowledge of internal control conceptual frameworks, such as COSO or COBIT, is preferred.

Cover Letter and Resume must be submitted to be considered.