New York University Abu Dhabi (NYUAD) seeks to appoint a Director Internal Audit and Enterprise Risk Management, who will be responsible for leading and facilitating the enterprise risk management (ERM) program, oversight of outsourced internal audit function, coordinating insurance management at NYUAD, and active management of NYUAD’s operational risks.
The Director ensures NYUAD’s risk framework aligns with the University (NYU NY) and provides the strategic planning, governance and day-to-day coordination necessary to facilitate the risk identification, assessment, risk ownership, mitigation and monitoring of NYUAD’s enterprise risks which includes strategic, operational, financial and compliance risks. As a member of NYUAD’s senior management team, provide advice and information about risks and internal control issues to the Vice Chancellor, Provost, Chief Administrative Business Officer and other senior leaders.
The Director manages and directs the outsourced internal audit services delivered by the third-party internal auditor service provider in an effective manner to provide assurance on risk mitigation and the NYUAD internal control environment at NYUAD. The Director is the key contact for all the outsourced internal audit services with the NYU AD stakeholders and the outsourced internal auditor. The Director oversees the coordination of insurance claims at NYUAD and works with the NYU global insurance program to ensure the sufficiency of the insurance portfolio and to develop various risk and loss control measures. The Director uses interpersonal skills and a strong work ethic to influence decision making at a senior level, raising enterprise and operational risks to promote mitigation and response.
The Director is accountable to the NYU NY Associate Vice President Internal Audit, Enterprise Risk Management and Financial Compliance Officer and to the NYUAD Chief Administrative and Business Officer (CABO). The Director also works in close and direct collaboration with the NYU Office of Insurance and Risk Management, the Office of Compliance and Risk Management, the Office of Employee Health and Safety, the NYU Office of Internal Audit and Enterprise Risk Management, third party internal auditors, government partners, NYUAD departments and other key partners and stakeholders throughout the global network university (GNU) to ensure risk is coordinated holistically within NYUAD through ongoing program collaboration, alignment and execution. The Director has the primary responsibility to liaise with NUYAD’s government partners on issues related to risk management and internal audit.
Enterprise Risk Management
Develop, manage and facilitate NYUAD’s enterprise risk management function continually enhancing and embedding the risk framework using working knowledge of business needs and practices for the University as well as the context within which it operates
Facilitate risk assessment tailored to specific operational units including finance, research, human resources, campus life, communications, events, and the arts
Be a change agent to lead and effect desired change throughout the organization
Understand how key enterprise level risks and controls impact the institution and work with senior leadership and administrative and academic departments across NYUAD in a highly engaging and effective manner to conduct a comprehensive institutional risk assessment as well as unit-specific risk assessments, and other risk exercises designed to identify enterprise risk and opportunity and to build out effective systems of control where institutional value and values are preserved, optimized and protected and institutional risk exposure minimized and mitigated
Advise risk owners on developing strategies and emergent risk and extend risk principles within the strategic planning process and within the development and monitoring of strategic initiatives
Develop, implement and maintain core enterprise risk management tools and measurement methodologies for risk monitoring that align with NYU NY.
Coordinate processes for aggregating risk information and data from various departments to enable effective review, analysis, reporting and sharing of risk data with key stakeholders
Facilitate the training and community awareness of enterprise risk management.
Engage key leaders from areas throughout the University to socialize and deepen the use and knowledge of risk management through key committee participation including the NYUAD Risk and Compliance Steering Committee, the Procurement Committee, the NYUAD Audit Committee, the Insurance Forum, the NYUAD Compliance and Risk Working Group, the Incident Management Team and other NYUAD and NYU committees, as required
Operational Risk Management
Consult with risk owners in functional areas to identify, assess and mitigate operational risk within those departments
Advise the CABO and senior leadership regarding operational risk hazards and intentions
Recommend risk mitigation strategies for insurable and non-insurable risk
Work closely with Employee Health and Safety and Public Safety to leverage information and technology to better identify and manage operational risks
Employ technology to identify, mitigate and monitor operational risks
Collaborate with NYU NY Department of Insurance Programs on insurance claims and needs for the NYU AD enterprise
Ensure insurance claims for NYUAD are managed, tracked, communicated and escalated, as needed. These claims will be reported to the CABO and other relevant parties on a periodic basis
Coordinate with NYU NY Department of Insurance Programs and NYUAD Government Partners regarding insurance needs, strategy and risk and loss control measures through insurance portfolio reviews, understanding of business operations and changes and periodic review of third-party contractual insurance
Internal Audit Planning
Plan and coordinate with the outsourced internal audit provider and compliance to execute the annual combined assurance risk assessment to develop the internal audit plan for NYUAD
Manage the internal audit services provided by the outsourced internal audit provider to ensure seamless execution of the audit plan throughout the year. Act as the key point of contact between the outsourced internal auditors and NYU AD stakeholders. Oversee all internal audit activities and resolve any conflicts or roadblocks to ensure the timely execution of the reviews
Review internal audit reports prior to distribution to stakeholders and ensure reports are circulated to NYU AD senior leadership as well as to management for development and consensus on the implementation of corrective action plans
Coordinate the follow-up and reporting of internal audit findings until the control gaps are remediated
Manage themes, trends and emerging risks for escalation and communication to senior leadership
Work with CABO, third party internal auditors, NYU NY Office of Internal Audit and Enterprise Risk and government partners to assess and report on the effectiveness of internal audit services for NYUAD
Work closely with NYUAD’s government partners on matters related to internal audit and oversight of the jointly-appointed, outsourced internal audit firm
Recommend improvements to the internal audit program and performance of the outsourced internal auditor
Governance and Reporting
Align NYU AD ERM, strategy to NYU NY and evaluate and facilitate enterprise risk and mitigation with key stakeholders
Ensure transparency and alignment in the coordination of the NYU global insurance program policy and processes for NYUAD
Provide regular updates and status on the ERM Program, Insurance Management, Internal Audit services and department risk activities to senior leadership, the NYUAD Chief Administrative and Business Officer and to the NYU NY Associate Vice President Internal Audit, Enterprise Risk Management and Financial Compliance Officer
Serve as staff to the Risk and Compliance Steering Committee along with the NYUAD Chief Compliance Officer to ensure appropriate support and leadership for administrative coordination and review and advise on risk and compliance matters
Work collaboratively with the Assistant Vice Chancellor for External Affairs at NYUAD on prospective or active risk mitigation related to the reputation of NYUAD
Prepare annual and periodic reports on the ERM Program, Insurance management, internal audit services and other ongoing risk management activities at NYUAD for senior leadership, the Audit Committee, the Insurance Forum, the Real Estate Committee (REC), the Finance Advisory Committee (FAC) and other committees as requested
Oversee and lead special projects and other tasks assigned by the CABO
Actively manage the relationship with NYUAD’s government partner, seeking inter organizational alignment and escalating issue to the CABO and the AVP
Staff the joint NYUAD Audit Committee and ensure the fulfillment of all NYUAD’s obligations and champion NYUAD’s rights under the NYUAD Management Agreement that pertain to risk and internal audit
Manage third party contracts entered into by NYUAD with respect to risk function at NYUAD, including: third party relationship management, and performance management; and administrative responsibilities, relating to budgets, invoicing, and logistics
Manage, direct, supervise, train and develop ERM
Demonstrate proficient understanding of US GAAP, COSO framework, IIA PPF
CPA, CIA, CISA
Masters preferred in accounting or finance
Fifteen plus years relevant experience in some combination of Big 4 public accounting and or/internal audit
Proficient with auditing, internal controls, business and operations processes, finance and Risk identification and Management
Strong interpersonal skills and ability to build strong stakeholder relationships and work in concert with others to accomplish goals and objectives
Ability to work on a senior team as a listener, contributor, collaborator, mediator and advocate interacting with all constituencies internal and external to a higher education research institution
Curiosity about the wide range of risks affecting institutions of higher education, and ability to alert leadership to prospective or active risks in appropriate and balanced ways
Experience in contributing to and supporting governing boards and in working with committees or subgroups on matters of risk, internal controls, process improvement, internal audit, governance or compliance
Excellent communication skills within a diverse population to foster inclusion and engagement
Display strong analytical and problem-solving skills with the ability to identify and resolve complex issues
Understanding of how key risks and controls impact the business from an operational, strategic, health and safety, compliance, reputational, legal and financial perspective
Proven project management skills
Strong organizational skills and ability to effectively prioritize initiatives to meet expectations while being agile and adaptable
Proficiency with Microsoft Word, Excel, and PowerPoint software
Proven ability to operate effectively and work effectively in a culturally diverse workplace
Preference for higher education or non-profit experience
Demonstrated understanding of University, government, non-profit, or similar work environment.
Certification, licensure in audit and/or risk management; demonstrated professional experience in internal audit, risk management, or insurance in higher education; preferred certifications and licensure should be provided from leading industry associations such as Institute of Internal Auditors (IAA), Institute of Risk Management (IRM), Risk and Insurance Management Society (RIMS) or other equivalent institutions
Regional experience in internal controls, internal audit, financial compliance risk management, insurance, or other related experience
NYU Abu Dhabi is a degree-granting research university with a fully integrated liberal arts and science undergraduate program in the Arts, Sciences, Social Sciences, Humanities, and Engineering. NYU Abu Dhabi, NYU New York, and NYU Shanghai, form the backbone of NYU’s global network university, an interconnected network of portal campuses and academic centers across six continents that enable seamless international mobility of students and faculty in their pursuit of academic and scholarly activity. This global university represents a transformative shift in higher education, one in which the intellectual and creative endeavors of academia are shaped and examined through an international and multicultural perspective. As a major intellectual hub at the crossroads of the Arab world, NYUAD serves as a center for scholarly thought, advanced research, knowledge creation, and sharing, through its academic, research, and creative activities.