Position Title: Senior Internal Auditor
Reports to: Manager, Internal Audit
Organizational Unit: Corporate Finance
Location: Shanghai,China
BASIC FUNCTION:
The Senior Internal Auditor is responsible for performing supervisory, technical, and administrative audit project related duties with consistent exercise of discretion and independent judgment to execute all fieldwork aspects of assigned internal audit projects. These duties will be carried out at both the audit sites (certain of which are remote) and the Corporate Office. Position also supports the Vice President, Internal Audit and Enterprise Risk management in general management and administrative duties as well as special investigative duties as required.
ESSENTIAL FUNCTIONS:
· In conjunction with a Manager, Internal Audit, define, develop and prepare overall plans of action for conducting multiple internal audits in various operating locations and plants of the corporation.
· Supervise project-related activities of co-sourced internal audit resources (i.e.: ArvinMeritor’s co-sourcing partner) or internal resources and, where applicable, conduct fieldwork in support of audit objectives.
· Develop (as needed) and execute audit programs, document audit work and conclusions, prepare audit findings and appropriate recommendations, form opinions and draft audit reports using various microcomputer word-processing, database, spreadsheet, presentation and electronic mail software.
· Make oral presentations to auditee managers and executives.
· Provide expert advice and guidance on internal control system features and functionality involving the adequacy and effectiveness of internal control systems, the reliability of financial reporting, the effectiveness and efficiency of operations, the safeguarding of company assets, and compliance with laws and regulations.
· Travel independently to remote sites, both domestic and international, by air, including the ability and willingness to drive, and to use various other forms of appropriate transportation. Demonstrate the ability and willingness to travel for extended periods of time to domestic and international locations.
· Ability to move throughout the physical site as necessary.
· Assist Internal Audit Services’ managers, directors and the Vice President, Internal Audit and Enterprise Risk Management with general management and administrative duties.
DIMENSIONS:
· The internal audit universe includes 100 or more domestic and international operating locations and activities ranging in size as follows:
· Sales less than $10 million to in excess of $600 million
· Gross Assets less than $10 million to in excess of $300 million
JOB ENVIRONMENT:
The Senior Internal Auditor is responsible for planning, coordinating, conducting and supervising certain or all financial, operational, information technology and other audits at all domestic and international activities and locations of the Corporation on a continuing basis. Such audits include a review and evaluation of the adequacy and effectiveness of systems of internal control with special emphasis on the reliability and integrity of financial and operational information, the safeguarding of Company assets, and compliance with the Company’s established policies, directives and procedures.
For an individual with a financial or business background, expected level of performance may require a minimum of two years prior audit practice experience in a public accounting firm, or equivalent experience comprised of a combination of prior audit practice experience in a public accounting firm, and/or experience on the audit or financial staff of an industrial manufacturing company aggregating a minimum of four years, with successful performance in engagement or project management. A CPA certificate (or equivalent) or CIA certificate, or MBA degree or equivalent is preferred. The individual must also be familiar with the requirements of the Sarbanes-Oxley Act (SOx) of 2002, Section 404; and how systems of internal control must be designed, operated and evaluated to assure compliance. Specific internal or external audit experience to evaluate compliance with SOx is preferred.
For an individual with an engineering or information systems background, expected level of performance will require a combined minimum of five years of prior information systems, industrial engineering and/or internal or external audit experience in an industrial manufacturing environment, with successful performance in engagement or project management. An undergraduate degree is required and an MBA or equivalent is preferred.
He/she is also responsible for witnessing, including occasional on-site direction of, physical inventory observations, restrictive trade practices reviews, fact-finding investigations and other special projects assigned by the Vice President, Internal Audit and Enterprise Risk Management.
Fundamental to the performance of this audit responsibility is unrestricted access to all activities and operations of the Corporation, except when access to a location or information is specifically restricted by law or government security regulations. To assure this independence, the Internal Audit function reports directly to the Audit Committee Chairman of the Board of Directors and the Senior Vice President and Chief Financial Officer of the Corporation.
PRINCIPAL ACCOUNTABILITIES:
1. Define, develop and execute overall plans of action for conducting multiple internal audits in various operating locations and plants of the Corporation. Prepare, or assist the Manager, Internal Audit, in preparing detail plans for performing individual audits including objectives, budgets, and schedules. Excellent English language oral communication skills are preferred as the incumbent will conduct, or assist with, meetings with responsible operating managers and executives to outline and explain proposed audit scope and plans, and apprise the Manager, Internal Audit, of the need for scope revisions based on specific operating problems at a location.
2. Brief individual business executives as to audit scope and procedures, and obtain their cooperation and support of planned audit activities.
3. Supervise the activities of the assigned co-source partner or internal staff by clarifying audit objectives, preparing plans for conducting individual audits, conducting audits in accordance with audit objectives, interpreting policy, assisting in the resolution of unusual technical problems, reviewing and appraising the progress of audit teams, evaluating and preparing audit findings, and preparing draft audit reports. Assure that audit projects, where applicable, are carried out by the co-source partner in accordance with Generally Accepted Auditing Standards (per the AICPA) and the Standards for the Professional Practice of Internal Audit (as set forth by the IIA).
4. Prepare (in English), review and/or evaluate audit work papers (be they in either written or electronic form) prepared to document all audit procedures, findings, recommendations and opinions.
5. Coordinate with the Manager, Internal Audit, the presentation and review of audit findings with responsible operating management. Recommend and explore alternative courses of action for correcting control weaknesses and/or compliance deviations and resolving operating problems identified through internal audits.
6. Analyze corrective actions proposed by management as the result of controls self-testing activities for adequacy and test, as appropriate, the effectiveness of the corrected control.
7. Through direct contact, develop and maintain a rapport with business operational and financial managers to ensure understanding and acceptance of internal audit requirements, approach and reporting methods.
8. Be thoroughly familiar with policies and procedures relating to Standards of Business Conduct in order to train and motivate others in the importance of full compliance with the letter and spirit of such policies and procedures.