The Head of Internal Audit supports the Audit Committee in fulfilling the Board of Directors’ responsibilities, including oversight of financial reporting, operating and risk management controls, and the internal and external audit processes and the J-SOX Program Management Office. The position is also responsible for providing strategic and technical leadership to the independent internal audit function, and for providing advice on the company’s operations control environment and risk management practices to the Audit Committee and management. The Head of Internal Audit will lead and manage a team of qualified internal auditors based in United States, Europe and Asia supplemented by guest auditors and occasional co-sourcing arrangements.
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Audit – ~40%
Bring a systematic, transparent, scalable, and disciplined approach to evaluating and improving, as appropriate, the effectiveness of internal controls, risk management and governance processes.
Lead and coordinate an annual risk assessment to support the development of the annual audit plan. As appropriate, update the risk assessment and audit plan during the year in response to business or industry/market developments. Identify internal, guest auditor, and co-source resources to accomplish the audit plan. Consult with the business partners and the Internal Control & Risk Committee, and obtain approval of the audit plan from the Audit Committee.
Oversee financial, operations, and technology audits. Ensure the issuance of audit reports is done in collaboration with and agreement from process owners on the facts of the audit findings, the risk severity and impact, and timing of remediation. Ensure overall audit quality of Internal Audit activities and that the Internal Audit team complies with the Internal Audit policy and manual and communication standards.
Provide strategic and technical leadership for audit activities and support the Audit Committee in its fulfillment of its oversight responsibilities. Report regularly to the Internal Control & Risk Committee and the Audit Committee on the results of all audit activity.
Provide timely and accurate reporting on control gaps and the status and remediation of audit findings. Influence the strengthening of the control environment, governance processes, and risk management practices through audit recommendations and validation of management’s agreed to actions.
Business Advisory – ~35%
Build a successful relationship with business leadership to provide value-added consultation to influence and strengthen operational efficiencies and effectiveness and promote HDS best practices; provide opportunities for cost savings, standardization and globalization of processes.
Drive strategic thinking and decision making to ensure that the HDS is proactively addressing and anticipating issues. Promote appropriate risk management awareness and risk mitigation.
Actively participate in applicable executive management forums, committees, councils, advising on emerging risk and control issues.
Ensure the overall quality and fact-driven insights of the consulting or business advisory engagements performed by the Internal Audit function.
Actively support a “culture” of transformation and anticipate the changes required in control processes and risk management practices to match business model and market transformation.
SOX – ~10%
Provide leadership and technical guidance to ensure the company’s continued compliance with Japanese Sarbanes-Oxley (J-SOX) legislation in support of the parent company, Hitachi Ltd.
Ensure the design of financial controls keep abreast with new accounting standards or changes to processes from system implementations or business model transformation.
Ensure timely and accurate execution of J-SOX testing and certification. Ensure that key controls are correctly and adequately identified, designed, documented and performed with the right level of frequency.
Ensure proper management and coordination of J-SOX effort performed by the company’s external auditors including leveraging work performed internally.
Communicate results and status of SOX Test of Design and Test of Effectiveness to senior management, Internal Control & Risk Committee and the Audit Committee. Ensure that communication to Hitachi Ltd, on the results of J-SOX testing is timely and meets the parent company’s reporting requirements. Liaise with the external auditor on J-SOX findings.
Data Analytics – ~5%
Promote and ensure the adoption of the use of data analytics in the Internal Audit function.
Collaborate with business intelligence teams within Finance and the Information Technology departments to leverage and align with data analytics infrastructure to support this endeavor.
Promote a “culture” of data-driven audit findings and recommendations
Other – ~10%
Support legal, business ethics and export compliance organization as needed for investigations or other special projects.
Participate in or lead joint reviews with Hitachi Ltd.’s ICT Division Internal Audit Team. Responsible for coordinating Hitachi Ltd audits and leading and documenting the progress on audit findings.
Co-ordinate reviews with sister Hitachi Companies as appropriate.
Evaluate the company’s best practices and communicate the relative benefits or costs of any audit or advisory recommendation to management.
Leadership
The ideal candidate will be a highly respected professional in the audit community with a reputation for impeccable ethics and integrity, and experience in a best-in-class internal audit function and sound business judgment and acumen.
Demonstrate a willingness, to take the lead on initiatives outside of Internal Audit (which do not jeopardize indenpendence on areas under audit) to become a true business partner and leader to the entire organization.
Recruit, develop and retain a high performing, high quality internal audit organization that is respected within the Hitachi Group of companies.
Develop and maintain an infrastructure of audit methodology process, tools, and communication of audit results and business advisory consultations that are efficient and effective to support a high functioning audit department.
Develop the skills and abilities of all team members, with the result that they perform to at their highest potential and optimize their current and future job performance.
Develop and maintain sufficient depth in all critical functions, minimizing “single point of failure” risk.
Develop the depth of the Internal Audit management team, including ongoing management succession planning.
Stay abreast of leading internal audit practices and tools to maximize the effectiveness and efficiency of the HDS Internal Audit team.
Interacts with (functions and levels of individuals):
All individuals in the organization, Executive Management, Corporate Ethics, Audit Committee members, sister Hitachi companies, as well as the company’s outside auditors.
All qualified applicants will receive consideration for employment without regard to race, color, religion, place of origin, ethnic origin, national origin, ancestry, age, sex, sexual orientation, gender identity, transgender status, genetic information, mental or physical disability, marital status, pregnancy, veteran status, or any other characteristic protected by applicable national, state, or local law.
Qualifications
Primary Qualifications (skills, years of experience, education, knowledge, prior achievements)
15+ years or equivalent of progressive experience in audit and/or financial analysis, planning, and management
B.A. required with an emphasis in accounting.
MBA, CPA, CIA or equivalent preferred
Demonstrated ability to communicate, influence, motivate others, and lead change within an organization.
Strong analytical and problem solving abilities in a similar senior role, with continuous ability to identify and implement process improvements and cost reduction opportunities.
Strategic global thinker with ability to successfully communicate and implement processes and deploy resources across diverse groups and business units.
Proficiency to negotiate, influence and gain trust of others where no formal authority exists and can relate well to people at all levels in a credible manner.
Demonstrated ability to build and leverage relationships while achieving the goals and objectives of the organization and department.
Uncompromising ethical character.
Objectivity and ability to challenge norms and standard operating processes.
Demonstrate HDS’ core values (Customer Focus, Community, Openness, Ownership and Leadership).
Ability to travel international about 25%.
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