Director of Internal Audit
Company: Michigan Farm Bureau
Location: Lansing
Posted on: October 2, 2024
|
|
Job Description:
Director of Internal AuditUS-MI-LansingJob ID: 2024-4595Type:
Regular Full-Time# of Openings: 1Category: ManagementFarm Bureau
CenterOverviewDirector of Internal Audit ObjectiveTo direct and
manage the Internal Audit Department to ensure that audit work
fulfills the general purposes and responsibilities established in
the Internal Audit Charter as approved by the Audit Committee of
the Board of Directors and addresses audit, risk and compliance
issues to help guide the direction of the organization. To perform
and administer a comprehensive program of internal audit
examinations on auditable activities of the Michigan Farm Bureau
and its Affiliated Companies.ResponsibilitiesDirector of Internal
Audit ResponsibilitiesProvide overall management and supervision of
the internal audit function to ensure that audit resources are
efficiently and effectively employed. Develop an annual audit plan.
This plan will include a schedule of audit examinations to be
performed utilizing a risk assessment process to prioritize
auditable activities, and as appropriate will incorporate audits
that will cover the companies' top risk as identified in the Farm
Bureau Insurance Enterprise Risk Management Process. Present the
annual internal audit plan to the Audit Committee of the Board of
Directors. Conduct an audit of the Enterprise Risk Management
Process and present the results to the Governance and Risk
Committee. Evaluate the adequacy and effectiveness of the
companies' internal financial, administrative, information systems,
and operational policies and controls. Ascertain the extent to
which company assets are accounted for and safeguarded from losses
of all kinds. Review the extent of compliance with company
procedures and policies. Review and approve the final internal
audit report before issuance on each audit examination. Set
periodic meetings with the General Counsel and Secretary,
Treasurer, Farm Bureau Insurance Executive Vice President and other
executive levels of management to discuss the results of completed
audits. Provide the Audit Committee with a summary report of
internal audits completed noting audit findings categorized as
significant, major or minor. Report management's response to
significant audit findings and whether the audit findings have been
satisfactorily resolved. Perform the annual year-end financial
statement audits or reviews of Michigan Farm Bureau Financial
Corporation, Community Service Acceptance Company (CSAC), MFB,
Inc., Michigan Agricultural Cooperative Marketing Association
(MACMA), Gravity Works, FBL Real Estate LLC, and Great Lakes Ag
Labor Services, LLC (GLALS) as approved by the Audit Committee of
the Board of Directors. Present the results of the audits and
reviews of financial statements and any report of internal control
weaknesses to the Audit Committee of the Board of Directors.
Provide the Audit Committee chairman with a summary of Audit
Committee activities to report at appropriate company board of
director meetings. Coordinate external audit efforts to ensure
adequate audit coverage and to minimize duplication of efforts for
the Michigan Farm Bureau and its Affiliated Companies. This
coordination includes involvement in the external audit plan,
setting external audit timetables, arranging work flow assistance
from appropriate management personnel and providing the external
auditors with internal audit work papers and reports on those core
activities audited. Coordinate the periodic examinations of the
State Department of Financial and Insurance Services for Farm
Bureau Insurance. At the request of the Audit Committee of the
Board of Directors, complete request for proposals (RFP) in
obtaining external audit services. For external audit engagement
cycles that are renewing, negotiate and finalize audit fees.
Periodically report on the outcome of services being provided.
Conduct periodic Audit Procedure and Practice orientations to new
members of the Audit Committee of the Board of Directors. Evaluate
and assess significant changes in operations and underlying
processes specifically as it relates to control issues coincident
with their development, implementation and/or expansions. Maintain
a professional audit staff with sufficient knowledge, skills,
experience, and professional certifications to meet the
requirements of the Internal Audit Charter. With the Director of
Human Resources and Assistant General Counsel, respond to callers
or web submissions generated by the Farm Bureau Ethics Line. Based
on the call allegation determine if any investigation needs to be
completed to bring the complaint to a conclusion. Maintain the
online reporting system provided by the vendor including all
complaint follow-up. Coordinate the annual conflict of interest
reporting of all Level I through IV managers and supervisors.
Report any violation of policy to appropriate Level I managers.
Conduct special fraud investigations as requested by management.
Develop and provide factual evidence to support case for trial.
Communicate to the Retirement Committee the results of internal
audits on the Farm Bureau Employees Defined Benefit Pension and
401(k) Plans. Perform annual expense reconciliation reviews of the
expenses incurred under the Defined Benefit Plan and communicate
the same to the Retirement Committee. Provide other audit services
and consultation on special requested projects by management as
time permits within the annual audit plan. Assist in the design and
implementation of Internal Audit's Control testing as part of
compliance with the NAIC's Model Audit Rule. Provide a report to
the Farm Bureau Insurance Chief Executive Officer as to the
attestation of whether key controls are functioning as established.
QualificationsDirector of Internal Audit Qualifications
RequiredBachelor's degree with a major in accounting required; a
minor in business administration or other related field preferred.
Ten or more years' experience in auditing required. Three to five
years in internal audit at a management level required. Must
possess a valid driver license with an acceptable driving record.
Designations of Certified Public Accountant (CPA) or Certified
Internal Auditor (CIA) required. PreferredProfessional designations
and work experience in information systems auditing,
property/casualty insurance, life insurance, and nonprofit and
cooperative accounting practices preferred. Note: Farm Bureau
offers a full benefit package including medical, dental, vision,
and 401K. PM19 All qualified applicants will receive consideration
for employment without regard to race, color, religion, sex, sexual
orientation, gender identity, national origin, disability, or
status as a protected veteran.Compensation details: 194207-252469
Yearly SalaryPIe2c5f3135ec4-25660-35553519
Keywords: Michigan Farm Bureau, Midland , Director of Internal Audit, Executive , Lansing, Michigan
Click
here to apply!
|