Company Munich Re America Services

Location Toronto , Canada

Internal Audit Director, (North American Audit Hub)

Job Description Be a part of a dynamic, global team! Munich Re’s North American Audit Hub (NAAH) is part of Munich Re’s Global Audit Function responsible for providing audit services to Munich Re’s Canadian and US based business entities. As part of the NAAH, you will help us deliver on our mission of providing impactful, agile auditing that assists Senior Management in the achievement of the Company’s strategic objectives.

As a trusted advisor, the Internal Audit Director:

• Provides reasonable assurance regarding the effectiveness of governance, compliance, risk management, and internal controls systems.
• Develops and maintains effective relationships with senior stakeholders. Promotes trust and increases efficiency while providing independent value-added internal audit services to various US and Canadian based Munich Re’s business entities. Balances individual client needs with business priorities assuring alignment with business strategies and objectives.

YOUR JOB

• Leads the development of the initial Audit Plan. Responsible for audit prioritization and resource allocation throughout the year. Ensures audit priority, scope, and issue ranking decisions are risk-based and support Munich Re’s strategic objectives. Works collaboratively with Global Audit teams to coordinate global audit topics.
• Oversees the execution of the audit plan for assigned businesses, ensuring scope and schedule are established for projects. Oversees resource allocation for the department and acts based on changing priorities. Directs assigned teams through risk and control identification, and development of audit testing procedures. Independently reviews the work of others and concludes on the effectiveness and ranking of audit issues. Has a thorough understanding of project management skills ensuring audits meet department and industry quality expectations and milestone dates.
• Anticipates and manages process changes and the related impacts on the Audit process and audit plan. Sets direction based on alignment to enterprise objectives and direction. Drives and implements change and continuous improvement within Audit.
• Leads a a team of professional direct reports. Coaches and mentors with a focus on development and succession plans. Determines performance evaluations and strategic hiring needs for Audit team.
• In partnership with Internal Audit Executive Management, establishes financial plan for the Audit team and manages to plan.
• Develops audit committee and management reporting materials for assigned NAAH responsibilities and participates in meetings.
• Keeps abreast of industry trends, competitors, business products; analyzes trends and makes strategic and tactical recommendations.
• Keeps abreast of changes in audit practices, regulatory requirements, and risk frameworks to understand their impact to internal auditing and Munich Re. (e.g. COSO). Proposes audit updates based on these changes.

YOUR PROFILE

• Education: Bachelor’s Degree in Accounting, Finance, or Business required. MBA preferred. Industry and auditing experience in: P&C Insurance & Reinsurance; and/or Life Reinsurance preferred.
• Work Experience: 10 or more years of audit or relevant business experience including prior audit management experience. Alternatively, experienced leader and expert in core competencies of P&C Insurance, Reinsurance including Life Health Reinsurance (e.g. Underwriting, Claims, Risk Management). At least 5 years leading a team of direct reports with demonstrated experience coaching, mentoring and developing employees for future roles. Advanced knowledge of internal audit practices and the ability to evaluate risks, internal control environments and their impact on company operations. is preferred. Established experience managing a team. Ability to take initiative to influence and drive results within a complex organization.
• CIA and/or CPA required. CPCU, CISA or other technical certifications are a plus.
• Excellent written and oral communication skills required.
• Highly developed negotiation, facilitation and consensus building skills are required. Ability to build a strong cohesive team to coordinate and interact positively with business stakeholders and other audit teams.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us.  Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.  We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.  We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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