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Job Opening: Aviva - Chief Audit Executive
7/14/10 - Open Position: Head of Internal Audit Company: Aviva Aviva has shaped itself into a global player in the insurance industry through a strategic growth program. The company is the world’s fifth-largest insurance group, the largest insurance services provider in the UK and one of the leading providers of life and pension products in Europe. It is also actively growing its long-term savings businesses in Asia Pacific and the USA. Aviva’s business focus centers on long-term savings, fund management and general insurance. With over 54,000 employees serving 50 million customers in 28 countries, Aviva is well positioned to continue its global vision of “One Aviva, Twice the Value.” Global premium income and investment sales are £51.4 billion and have £381 billion of funds under management. The development of the North America region and the company’s presence in the life and savings market is one of Aviva’s top strategic priorities. Aviva’s North America region is comprised of two major lines of business, each of which operates in a distinct geographic market: life insurance and annuities in the United States and general insurance in Canada. Aviva’s North America executive office is based in Chicago. This office provides governance to the US and Canadian business units, leads business development opportunities and determines the strategic direction of the region. Its four regional strategic priorities are to: • Grow in existing and new markets; • Expand the contribution of asset management by leveraging the capabilities of Aviva Investors; • Optimize the regional business model to achieve efficiencies and accelerate performance; and • Develop a customer-centric culture that is engaging to employees as well as customers. Aviva USA built its business around its expertise and leadership in indexed life insurance and fixed indexed annuities. This strategy enabled the company to become an industry and sales leader in both of these categories. Aviva USA provides a comprehensive portfolio of products to more than 1 million customers across all 50 states. Aviva USA is differentiating itself through its focus on customer centricity and by building insurance products around its customers. In addition, a strong emphasis is placed on employee engagement and corporate responsibility. Aviva USA continually supports and values the evolving needs its distribution partners (Independent Marketing Organizations) and producers (independent agents.) Position: As a key member of the North American Audit team, the Head of Internal Audit, US will lead a team of professionals providing assurance for the US market to include the life insurance and annuities business units. Reporting to the EVP North American Audit, the leader will work to develop and architect a “best in class” and next generation of the audit function to provide independent and objective assurance over the design and effectiveness of controls in place to manage the key risks impacting the business performance of Aviva USA. Leading a team of up to eight professionals from managers to senior auditors, the leader and team are accountable for all of the necessary audit policies, processes and procedures, ensuring training and monitoring and that each business unit adheres to these policies and practices. The leader will also manage (matrix) and partner with key audit specialist team members to support the delivery of the US plan to include (IT, Actuarial, Asset Management). The leader is accountable for the Internal Audit Charter, Aviva Risk Management and Audit policies, Internal Audit Standards and all regulatory obligations. Location: Des Moines, Iowa Reports To: Executive Vice President – North America Audit Responsibilities: The Head of Internal Audit, US is responsible for building and strategically positioning the Audit function across the US business units and key stakeholders to include Market Business Unit leaders, Board of Directors, Finance, Legal and external regulatory and compliance agencies. The leader will bring a strong sense of urgency and relationship abilities to the role by assessing current capabilities and developing a go forward strategy and relationships that are consultative. He/she will be responsible for driving significant change across the function in a proactive manner. More specifically, this role will assume the following responsibilities: • Support the business in building strong and effective risk awareness and control consciousness. Facilitate continuous improvement of risk management and control processes. • Promote the sharing of best practice with regard to risk management and assurance across the Aviva Group • Ensure the team and function remains current with changes in the industry and analyze the impact of those changes on the business. • Drive broader, more commercial thinking in Internal Audit’s work to enhance the cost effectiveness of Internal Audit’s proposition. • Ensure the quality of Internal Audit deliverables is of the highest standard. Install a culture of “no surprises”. • Report on activities through the year to the Audit Director, Europe, the Audit Committees and (committees of) the Board of Directors of the relevant legal entities. • Proactively support the Audit Committees. Help ensure meetings and agendas are appropriately planned and that the Chairman is fully briefed ahead of each meeting. Ensure issues are escalated to the European Oversight Committee and Group Audit Committee as required. • Develop a comprehensive and flexible audit plan that adequately addresses the business’ risk profile and has no material gaps in coverage. Contribute to the development of a comprehensive audit plan addressing Group risks. • Conduct regular liaison with senior Executives both at French and European levels to monitor the risk profile of the business and ensure the plan reflects any major change in risk profile. Demonstrate innovative ideas to deliver more assurance with available resource. • Maintain the highest standard of work and ensure adherence to Internal Audit’s standards. Drive sustainable quality improvements in all areas and be seen as a strong supporter of the QA process. • Through follow up with the business, make sure that audit actions are cleared appropriately and in a timely fashion. • Provide input to the ongoing professional development of staff and ensure that all staff has high quality development plans in place. Help ensure Internal Audit has strong “bench strength” through maintaining adequate second line resource and through effective succession planning for key positions. • Direct and schedule resources to complete the audit plan (France and European functional ones) and other projects. • Co-ordinate work by external parties, including external auditors, joint venture audit teams and regulators. Candidate Qualifications: • Ten plus years of progressive experience in development and execution of risk identification and defining practical solutions for management, including ten or more years of team management or leadership experience. • Big four consulting experience, ideal. • Bachelor’s degree in Actuarial Science, Finance, Accounting or related area, MBA preferred. • Professional audit or accounting qualification (e.g. CPA, CIA). • Understanding of the risks faced by the function, the tolerance for those risks and the controls required to manage & mitigate these risks within appetite. • Experience of promoting and managing change in a diverse international company. • Expertise in positioning, creating and presenting complex organizational financial information in clear and simple expression. • Ability to develop and maintain positive relationships and credibility with internal executives, as well as, external audit firm and regulatory agencies. • Broad commercial and strategic awareness. • Specialist technical knowledge of Life Insurance areas of responsibility. • Experienced in using risk management and audit techniques. • Sound project planning skills; project management to support complex technical and business reviews. • Knowledge of best practices in internal auditing, project and change management with the ability to incorporate these best practices into a complex and fast paced business. • Ability to excel and thrive in a highly matrixed, large corporate environment. • Ability to convey a clear course and sense of direction and understand the external/internal environment. • Ability to lead cross-functional teams, build consensus, and enlist support across business lines through strong influencing skills. • Results driven, ensuring short-term goals are achieved that support long-term initiatives with an appropriate sense of urgency. • Exceptional leadership skills including the ability to attract and mentor high caliber performers. • Strong ethics and a high degree of integrity. • Excellent written, oral, and presentation skills. Ability to articulate all marketing initiatives. • Ability to work in an unstructured, fast-paced, and often ambiguous work environment, and navigate organizational structures with sensitivity and finesse. • Potential to move beyond the scope of this role into a position of broader/increased responsibility. • Global experience would be ideal. Compensation: Aviva USA offers competitive compensation and benefits. A relocation package will be provided. Contact: Kevin R. Parker Jennifer Kerensky MD, Financial Services and Insurance Director Cook Associates, Inc. Cook Associates, Inc. 212 West Kinzie Street 212 West Kinzie Street Chicago, IL 60654 Chicago, IL 60654 312.755.5630 direct 312.755.5626 direct 515.494.2240 cell jkerensky@cookassociates.com kparker@cookassociates.com www.cookassociates.com |
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