VP Finance, Internal Audit

UL Solutions has an excellent opportunity for a Vice President of Internal Audit to join our Finance team based in Northbrook or Chicago, IL.  In this key leadership role, the VP of Internal Audit will drive the internal audit function ensuring robust governance, risk management, controls, and compliance across all businesses and functions worldwide. This position will be responsible for developing and overseeing the global internal audit function and providing critical oversight and strategic direction to safeguard the organization’s financial integrity.

The Vice President of Internal Audit reports directly to the chair of the audit committee of the board of directors and administratively to the company’s Chief Financial Officer.

Responsibilities

Your primary objective will be to ensure that the organization’s internal controls, risk management processes, and governance structures are effective and aligned with industry best practices and regulatory requirements. You will lead a team of internal auditors in conducting comprehensive audits and select advisory engagement across various businesses and functions to identify areas of improvement and mitigate risks. Additionally, you will collaborate with senior management and the board of directors to provide strategic insights and recommendations for enhancing operational efficiency and safeguarding the organization’s assets.

Leadership & Strategy

• Develop and implement the internal audit strategy, policies, and procedures in alignment with the organization’s objectives
• Provide leadership and guidance to the internal audit team, fostering a culture of excellence, integrity, and continuous improvement
• Establish key practices and metrics to monitor the effectiveness and efficiency of internal audit activities 

Audit Planning & Execution

• Conduct risk assessments to prioritize audit activities and allocate resources effectively.
• Lead the planning, execution, and reporting of internal audit engagements, ensuring compliance with established standards and timelines.
• Lead the delivery of internal audits across UL Solutions and its subsidiaries’ business processes, controls, and systems to identify areas of risk and opportunities for improvement.
• Partner with leaders to oversee audits and develop timely improvement plans with clear accountabilities
• Lead corporate audit process development and improvement, implementation of corporate audit standards, policies, audit approaches, tools and technology and monitor effectiveness to make refinements as required. 
• Provide independent reviews and evaluations of the company’s operations, information systems, controls, major business processes, records, and reporting functions and offers recommendations to company management, external auditors, and the board of directors. 

Risk Management & Controls

• Monitor emerging risks and regulatory changes, assessing their potential impact on the organization’s operations and internal control environment
• Evaluate the adequacy and effectiveness of internal controls and risk management processes, making recommendations for enhancements, as necessary
• Collaborate with stakeholders to develop and implement risk mitigation strategies and action plans 

Stakeholder Engagement

• Build strong relationships and trust with the board of directors, senior management, , and other key stakeholders to promote transparency, accountability, an open communication regarding audit findings and recommendations
• Present clear, actionable audit reports and findings to executive leadership and the audit committee, providing insights and actionable recommendations for decision-making
• Serve as a subject matter expert on internal audit matters, providing guidance and support to business units and functional teams as needed

Compliance & Ethics

• Ensure compliance with applicable laws, regulations, and industry standards, including the Institute of Internal Auditors (IIA) standards and Generally Accepted Auditing Standards (GAAS), and Generally Accepted Accounting Principles (GAAP)
• Champion ethical behavior and integrity within the organization, promoting a culture of compliance and accountability

Key Accountabilities

• Develop an annual risk based internal audit plan based on the company’s strategic risks and objectives for Audit Committee approval, monitor internal audit’s progress against the internal audit plan, and provide regular updates and reports to the Audit Committee and senior management on the status of internal audit activities and key findings
• Conduct internal audits by overseeing the planning, execution, and reporting of audits, ensuring they are conducted in accordance with professional standards and timelines
• Conduct an annual fraud risk assessment
• Collaborate with other departments to identify and assess emerging risks and develop strategies to mitigate them
• Work with the Audit Committee Chair and CFO to drive the agenda setting and preparation processes for the quarterly Audit, Committee meetings
• Provide advisory and assurance services to management and the Audit Committee over other financial, technology, security operations and compliance processes
• Prioritize and oversee overall departmental organizational design, staffing and capacity for optimum utilization
• Coordinate ICFR testing plans with the controllership, information technology, and external auditors. Execute testing in a timely, high-quality and cost-effective manner, enabling the highest level of reliance permissible by regulations and external auditors to minimize redundancy and external audit fees. 
• Coordinate risk assessment and audit/monitoring coverages with key second-line assurance functions, such as compliance, ERM, SOX, etc. 
• Participate and provide advice and input into the company’s ERM program and annual risk assessment, and reporting process.     
• Assist, as needed and requested by compliance, in investigations of suspected non-compliance, improprieties, or fraud.
• Partner with other compliance and risk management functions to enhance governance, risk management and compliance in a fast-paced but highly regulated environment
• Prepare board-level and executive-level presentations and reporting, as well as practical recommendations linked to company priorities 
• Oversee the development and operations of the Internal Audit team, including leading, mentoring, and development
• Establish departmental practices that align with The Institute of Internal Audit’s (IIA’s) International Professional Practices Framework (IPPF) 
• Work closely with external auditors regarding matters related to internal controls over financial reporting (ICFR)
• Work closely with the Legal department regarding ethics, risk and regulatory matters

Supervisory Responsibilities

• Lead a team of up to 15 auditing professionals globally
• Lead team members, work with leaders, and affect culture in very international work environment

Qualifications

• 10+ years of progressive leadership experience, including 5+ years of public company audit experience (Big 4 audit experience highly preferred)
• 5+ years in a Sox-compliant global environment performing assessments of financial controls, IT/technology controls, or other related experience 
• Relevant professional certifications including but not limited to: CPA, Chartered Accountant, Certified Auditor (CIA), Certified Information Systems Auditor (CISA), 
• Bachelor’s degree in Finance, Accounting, Economics, IT, or other relevant fields; advanced degree a plus 
• Superior knowledge of Generally Accepted Accounting Principles (GAAP), information technology general controls (ITGCs), automated control environments, cybersecurity best practices, and technology risk

Personal characteristics

• Leadership skills to engage with all levels of the organization, including the board of directors senior management
• Ability to position oneself as a strategic partner to assist audit stakeholders in meeting company objectives
• Possess executive presence, excellent communication skills both oral and written (must be able to tailor communication style)
• Results-oriented with strong analytical, problem-solving, and decision-making skills
• Undisputable ethics and professionalism.
• Proven track record of building and growing high performing, engaged teams
• Demonstrated ability to champion change management and influence diverse groups of stakeholders
• Comfort with travel, including international travel:  20-40%

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