Director of Internal Audit
The Director of Internal Audit is responsible for the overall direction and leadership of the internal audit function for the organization, including planning and conducting operational, financial and compliance audits to evaluate the effectiveness of internal controls and organizational risk, and in conformance with industry norms. The Director makes recommendations to senior management to increase the efficiency and effectiveness of the control systems of functions reviewed. The Director of Internal Audit reports directly to the President; the role is also accountable to and maintains confidential access to the College’s audit committee.
• Provide knowledgeable and objective counsel to executive management and the Audit Committee on key controls, ethics, and compliance matters.
• Oversee the development and execution of the annual audit plan using a risk-based approach in conjunction with senior management, and in review of enterprise risk management, industry trends and emerging risks.
• Manage all aspects of the independent internal audit function, including budget and staffing, to ensure proper review and evaluation of internal controls and risk in conformance with the practices and standards of the Institute of Internal Auditors – International Professional Practice of Internal Auditing.
• Ensure methodical documentation of work plans, testing results, conclusions and recommendations. Ensure follow up on findings and corrective actions.
• Identify and develop recommendations to address any control and operating weaknesses discovered through individual internal audits.
• Provide technical assistance with investigations, special audits, and provide subject-matter expertise as needed.
• Prepare internal audits reports, present findings and facilitate discussions with senior management, the Audit Committee, and the external auditor on a timely basis.
• Monitor follow-up on remediation plans, as necessary, to ensure corrective actions have been implemented to mitigate risk.
• Serve as liaison to the Audit Committee of the Board of Trustees: organize quarterly committee meetings and prepare meeting minutes.
• Participate on the College’s enterprise risk management committee and partner with any independent risk management consultants to provide insight on KPIs, the risk registry, and advancement of dashboard capabilities.
• Monitor and investigate reports to the College’s whistleblower telephone hotline and email. Respond to alleged violations of rules, regulations, policies, procedures, and Standards of Conduct by evaluating or recommending the initiation of investigative procedures. Develop and oversee a system for uniform handling of such violations.
• Identify potential compliance vulnerability by working closely with College offices, such as the Department of Internal Audits, the Institutional Review Board, Office of General Counsel and Office of Human Resources, the Athletic Compliance Office, the Office of Financial Aid and others.
• Assist in the review, revision and formulation of written policies, procedures and guidelines designed to address management and administrative processes and compliance issues, by working with College offices and with faculty governance.
• Perform or coordinate general or targeted reviews based on information received from other offices or individuals in the College including: On-site visits, interviews with personnel involved in the administration and management of sponsored research, questionnaires developed to solicit information from a broad cross-section of employees, reviews of written material, documentation and any electronic records.
• Oversee the execution of other tasks or special projects when required by management such as review of system implementations, due diligence reviews, and internal investigations.
• Develop, coordinate, or monitor reporting structures to handle employee or third party reports regarding known or suspected violations and ensure investigation, tracking and resolution of complaints.
• Act as an independent review and evaluation body to ensure that compliance issues/concerns within the organization are being appropriately evaluated, investigated and resolved.
• Identify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for resolution of problematic issues, and provide general guidance on how to avoid or deal with similar situations in the future.
• Research regulations to ascertain compliance regarding specific issues as requested by management on a timely basis.
• Provides training opportunities for the development of staff skills and knowledge base.
• Recommend organization-wide training based on gaps identified to ensure adherence to practices and policies. Stay abreast of emerging trends and successful practices in internal audit.
• Ensure that the audit department works independently and objectively, in accordance with the International Professional Practices Framework.
• Maintain confidentiality in the management of information.
• Perform other duties/projects as assigned.
• Seven to ten years of progressive external and/or internal audit experience in an organization of appropriate scale and complexity; prior higher education experience preferred
• Comprehensive understanding of International Professional Practices Framework (IPPF), COSO, and PCAOB standards
• Demonstrated ability to lead and cultivate a pro-active, inclusive, results-oriented work environment.
• High level of integrity, accountability, independence, and superior judgement.
• Ability to synthesize and communicate complex concepts to a broad spectrum of stakeholders
• Knowledge of Banner or a similar system is a plus
• Ability to travel between locations
• Master’s degree preferred, Bachelor’s degree in accounting, finance or related field from an accredited four-year college required
• Certified Internal Auditor (CIA) and/or Certified Public Accountant (CPA) preferred
ABOUT MERCY COLLEGE:
Mercy College is a dynamic, diverse New York City area college whose students are on a personal mission to get the most out of life by getting the most out of their education. Our institution is an independent, coeducational college that offers more than 90 undergraduate and graduate degree and certificate programs within five schools: Business, Education, Health and Natural Sciences, Liberal Arts and Social and Behavioral Sciences. Mercy College’s efforts in these programs have been recognized over the last several years. As a federally designated Hispanic Serving Institution (HSI), Mercy College, has been honored by being ranked nationally among the top Colleges in the country for Hispanics by the Hispanic Association of Colleges and Universities (HACU).
Mercy College was further recognized by HACU as a national leader in awarding bachelor’s degrees to Hispanics in several disciplines, including Psychology, Sociology and Business. Additionally, to support our diverse student body, Mercy College has pursued and been awarded a number of federal grants which enable us to better develop and deliver services to our students. As a Hispanic Serving Institution, Mercy College is proud to be recognized as an institution which helps under-served students to achieve their educational aspirations. Westchester Magazine has also named Mercy College the Best College in Westchester county in 2019 and 2020.The vibrancy of the College culture is sustained by a diverse student body from around the region. Enrollment, including full-time and part-time undergraduates and graduates is approximately 10,557; The College offers campuses in Dobbs Ferry, Bronx, Manhattan as well as online offerings.
At Mercy College, we strive to provide employees and their families with a comprehensive and valuable benefits package. We offer high-quality health care plans, retirement benefits, tuition discounts, flexible spending, and much more.
Mercy College is committed to providing motivated students the opportunity to transform their lives through higher education by offering liberal arts and professional programs in personalized and high quality learning environments, thus preparing students to embark on rewarding careers, to continue learning throughout their lives and to act ethically and responsibly in a changing world.