Executive Director of Internal Audit, Risk and Compliance
Embry-Riddle Aeronautical University
August 30, 2018
Daytona Beach, Florida
Full Time - Experienced
4 Year Degree
Embry-Riddle Aeronautical University is the world’s oldest, largest, and most prestigious university specializing in aerospace and related disciplines. This private university was founded in 1925, and has two major residential campuses in Daytona Beach, Florida and Prescott, Arizona as well as a growing traditional campus in Singapore. Additionally, the University’s Worldwide campus has over 135 satellite locations in 9 countries and 33 states that offers nationally ranked programs to primarily working adults.
The Executive Director is an integral component of the leadership structure of the University and is considered an advisor and resource to senior leadership regarding issues of internal controls, compliance and enterprise risk management. The Executive Director works closely with the President, the Senior Vice President and Chief Financial Officer, and other members of the University’s leadership team. The Executive Director reports to the Chair of the Audit Committee of the Board of Trustees of Embry-Riddle Aeronautical University and, administratively, to the Senior Vice President and Chief Financial Officer.
The Executive Director will direct and coordinate a newly-established, enterprise-wide office integrating existing programs in internal audit, risk management and compliance. The Executive Director will be responsible for enhancing the ability of these integrated functions to advance the mission of Embry-Riddle.
The internal audit activities are designed to add strategic and operational value to the University, as well as provide management and trustees with assurance as to the integrity of internal controls specifically and business processes generally. Internal Audit reports to the Executive Director and implements a risk-based audit plan in consultation with senior management and the governance committees of the University. The Executive Director is responsible for continuously refining the Internal Audit strategy and being responsive to evolving operations and changes in the regulatory environment. The Executive Director may be asked to undertake or assist with operational audits to ensure that internal and external financial reporting is accurate and consistent with University policies and that management has appropriate control over University assets and operations.
Enterprise Risk Management (ERM) is a strategic activity focused on major risk factors that may affect Embry-Riddle, including its reputation. The Executive Director will direct the activities of the Director of ERM and Compliance. The Director of ERM and Compliance is responsible for recommending the specific risk assessments to be performed at the University each year and ensuring that the risk-assessment plan is implemented and reported appropriately. After the approval of the Executive Director, the ERM plan is approved by senior leadership and the Audit Committee. The Executive Director will oversee successful implementation of the plan.
Compliance activities are undertaken both within the Office of Internal Audit, Risk and Compliance (OARC) and in collaboration with compliance functions that are embedded within major areas of the University such as research, athletics and finance. OARC is responsible for education, review, and assurance activities that validate the effectiveness of compliance programs and operations across the University. The Executive Director will oversee successful implementation of the compliance program.
OARC is comprised of the Executive Director and four additional full-time staff; one of the positions (a staff auditor) is located at the Prescott, AZ campus, the other positons are at the Daytona Beach, FL campus.
In addition to the broad responsibilities involved in leading the Office of Audit, Risk and Compliance, the Executive Director is charged with the following activities and responsibilities:
Working closely with the Senior Vice President and Chief Financial Officer to develop agendas and materials for the Audit Committee.
Visibility in the campus communities to articulate the department vision for internal controls, compliance and risk.
Reporting on the effectiveness of internal audit, risk, and compliance to the University administration and Board of Trustees; developing appropriate mechanisms for follow-up of identified deficiencies or potential areas for improvement.
Coordinating with external auditors and other University staff as needed.
Identifying and facilitating opportunities to standardize policies across the University.
Coordinating and leading the external quality-assurance review (QAR) of the self-assessment performed by the OARC. The QAR is presented to the Audit Committee.
Hiring and mentoring professional staff with the goal of maximizing their impact and professional development.
Serving on administrative committees as requested.
Actively participating in local, regional, and national professional organizations.
The ideal candidate will have compelling leadership qualities, extensive experience working with executive management and governance boards, and will demonstrate appreciation for 1) the core cultural factors that university leaders affirm when making strategic and tactical decisions, 2) the importance of academic freedom, 3) the balance between that freedom and compliance with university and external policies and laws, and 4) the value of investing in the entrepreneurial drive that extends the university’s impact in its areas of education and research.
Viable candidates for the Executive Director role will possess the following credentials, skills and experience:
A minimum of 10 years of experience as an auditor or compliance officer and at least 5 years in a management or leadership role; additional professional certifications such as CPA, CIA, etc. are expected.
A Bachelor's degree or equivalent in business, accounting, finance or a related field is required; an advanced degree in a related field is desirable.
Expertise across internal audit, compliance, and risk management.
The poise, judgment, and maturity to engage senior leadership, board of trustees, and the wide range of people with whom the Executive Director will work with.
Strong listening and communication skills; the ability to establish relationships of trust with varied constituencies; skills in forging consensus; the ability to engender trust in ambiguous situations based on integrity, critical thinking, and interpersonal skills.
Experience developing, sustaining, and leading highly-skilled, motivated staff with diverse skills, including by supporting their professional development and impact in appropriate roles at Embry-Riddle beyond the OARC organization.
Demonstrated ability in managing processes to achieve institutional goals; the ability to focus decision-making on relevant points in a highly complex, dynamic, and diverse environment.
Executive presence and a high level of credibility based on deep domain expertise and experience across the relevant fields.