State Teachers Retirement System of Ohio
Chief Audit Executive
State Teachers Retirement System of Ohio, Columbus, Ohio, United States, 43224
Chief Audit Executive
The State Teachers Retirement System of Ohio (STRS Ohio) is seeking qualified candidates for the position of Chief Audit Executive.
About Us The State Teachers Retirement System of Ohio (STRS Ohio) is widely recognized and respected as one of the leading retirement systems in the country. The system provides retirement benefits, access to health care coverage and many other services. With total investments of $95.3 billion (including short-term investments) as of June 30, 2024, STRS Ohio is one of the largest pension funds in the United States. We serve more than 500,000 active, inactive and retired Ohio public educators. STRS Ohio employs about 460 associates who are provided the tools they need to succeed both personally and professionally.
The mission of STRS Ohio is to provide Ohio’s public educators a foundation for their financial security. The vision of STRS Ohio is to serve current and future Ohio public educators and their loved ones.
STRS Ohio Culture STRS Ohio believes in empowering associates to make and be accountable for decisions that benefit the educators we serve. Associates are encouraged to continually enhance their knowledge and skills through higher education and training. Our commitment to total quality is evident in all we do — from answering phones to disseminating information to managing investments on behalf of STRS Ohio members. STRS Ohio strives to have a diverse culture that welcomes, celebrates, and promotes respect for each individual and recognizes the worth that each individual contributes to the financial security of the membership.
We believe that an excellent working environment and benefits can help our associates succeed. That’s why STRS Ohio offers advanced technology, ongoing educational opportunities, and competitive associate benefits. At STRS Ohio, you can experience rewarding work in a professional, business casual work environment.
Comprehensive Benefits STRS Ohio provides a competitive pay and a comprehensive benefits package including on-site parking, educational assistance, subsidized medical insurance, fully paid dental and life insurance, vacation and sick leave, retirement benefits and on-site fitness center.
Compensation Compensation is commensurate with education and experience.
Summary of the Role Under the direction of the State Teachers Retirement System of Ohio (STRS Ohio) Retirement Board’s Audit Committee, responsible for the administration of effective internal audit operations at STRS Ohio. Report on the effectiveness of the system of internal controls developed and maintained by management. Design and implement tests of internal controls, report testing results, make recommendations to management and report on management’s mitigation efforts. Supervise work of internal audit staff.
Principal Duties and Responsibilities
Develop, maintain and adhere to the comprehensive Internal Audit Charter.
Establish policies and procedures to guide the Internal Audit activity.
Develop and recommend a comprehensive annual, risk-based internal audit plan, including an assessment of relevant business and financial risks for STRS Ohio.
Ensure Internal Audit resources are appropriate, sufficient and effectively deployed to achieve the approved plan.
Develop and conduct audit programs in accordance with Standards for the Professional Practice of Internal Auditing. Prepare procedural write‑ups and process documentation. Evaluate the adequacy and effectiveness of internal controls and procedures. Prepare and distribute audit reports and recommendations to management. Prepare interim reports of progress against the internal audit plan. Report to the Retirement Board's Audit Committee, and individually, at least bi-annually as required.
Monitor and follow-up on the implementation of audit recommendations and prepare status updates for the Retirement Board's Audit Committee and the Retirement Board.
Ensure Internal Audit Department staff adheres to the Institute of Internal Auditors’ Code of Ethics.
Attend Retirement Board/Audit Committee meetings and perform special reviews as requested.
Maintain knowledge of organizational functions through continued education, training and annual assessments.
Develop and maintain a published Quality Assessment Review (QAR) schedule for an external firm’s evaluation of the Internal Audit department and report results to senior staff and the Retirement Board’s Audit Committee. Develop and maintain a Quality Assurance and Improvement Program to address QAR findings and provide an action plan/progress report to the Retirement Board’s Audit Committee.
Monitor the implementation of recommendations that result from mandated Ohio Retirement Study Council’s fiduciary audits and report findings to the Retirement Board’s Audit Committee.
Develop and maintain functional, collaborative relationships with members of the Retirement Board, the Retirement Board’s Audit Committee, senior staff and serve as the designated point of contact for Internal Audit.
Maintain the coordination and inclusion of risk management efforts related to Enterprise Risk Management, the STRS Ohio Strategic Plan, STRS Ohio Compliance activities and external assurance providers.
Assist the Retirement Board’s Audit Committee in the development and maintenance of the Audit Committee Charter.
The above list of duties is intended to describe the general nature and level of work performed by persons assigned to this classification. It is not to be construed as an exhaustive list of duties performed by the persons so classified, nor is it intended to limit or modify the right of any supervisor to assign, direct and control the work of associates under supervision.
Summary of Qualifications
Bachelor’s degree in business, accounting, finance or a related field required.
Master’s degree in related field preferred.
Certified Public Accountant (CPA) or Certified Internal Auditor (CIA) professional certifications preferred.
Ten years of auditing or accounting experience in public accounting or large organizations, including a basic understanding of data processing operations required.
Excellent knowledge of database and spreadsheet software.
Project management experience preferred.
Ability to produce professional documents and conduct public presentations.
Ability to work with and preserve confidential information required.
Superior oral and written communication skills required.
Interpersonal skills necessary to deal effectively and courteously with internal and external contacts required.
Superior organizational skills and a high degree of accuracy and attention to detail required.
Proven ability to operate Microsoft Office programs and standard office equipment required.
Ability to work independently and in a team environment while meeting deadlines with minimal direct supervision required.
Excellent work record of attendance, punctuality and the ability to maintain a flexible work schedule to meet business needs. Occasional evening, weekend and non-regular work hours may be required.
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About Us The State Teachers Retirement System of Ohio (STRS Ohio) is widely recognized and respected as one of the leading retirement systems in the country. The system provides retirement benefits, access to health care coverage and many other services. With total investments of $95.3 billion (including short-term investments) as of June 30, 2024, STRS Ohio is one of the largest pension funds in the United States. We serve more than 500,000 active, inactive and retired Ohio public educators. STRS Ohio employs about 460 associates who are provided the tools they need to succeed both personally and professionally.
The mission of STRS Ohio is to provide Ohio’s public educators a foundation for their financial security. The vision of STRS Ohio is to serve current and future Ohio public educators and their loved ones.
STRS Ohio Culture STRS Ohio believes in empowering associates to make and be accountable for decisions that benefit the educators we serve. Associates are encouraged to continually enhance their knowledge and skills through higher education and training. Our commitment to total quality is evident in all we do — from answering phones to disseminating information to managing investments on behalf of STRS Ohio members. STRS Ohio strives to have a diverse culture that welcomes, celebrates, and promotes respect for each individual and recognizes the worth that each individual contributes to the financial security of the membership.
We believe that an excellent working environment and benefits can help our associates succeed. That’s why STRS Ohio offers advanced technology, ongoing educational opportunities, and competitive associate benefits. At STRS Ohio, you can experience rewarding work in a professional, business casual work environment.
Comprehensive Benefits STRS Ohio provides a competitive pay and a comprehensive benefits package including on-site parking, educational assistance, subsidized medical insurance, fully paid dental and life insurance, vacation and sick leave, retirement benefits and on-site fitness center.
Compensation Compensation is commensurate with education and experience.
Summary of the Role Under the direction of the State Teachers Retirement System of Ohio (STRS Ohio) Retirement Board’s Audit Committee, responsible for the administration of effective internal audit operations at STRS Ohio. Report on the effectiveness of the system of internal controls developed and maintained by management. Design and implement tests of internal controls, report testing results, make recommendations to management and report on management’s mitigation efforts. Supervise work of internal audit staff.
Principal Duties and Responsibilities
Develop, maintain and adhere to the comprehensive Internal Audit Charter.
Establish policies and procedures to guide the Internal Audit activity.
Develop and recommend a comprehensive annual, risk-based internal audit plan, including an assessment of relevant business and financial risks for STRS Ohio.
Ensure Internal Audit resources are appropriate, sufficient and effectively deployed to achieve the approved plan.
Develop and conduct audit programs in accordance with Standards for the Professional Practice of Internal Auditing. Prepare procedural write‑ups and process documentation. Evaluate the adequacy and effectiveness of internal controls and procedures. Prepare and distribute audit reports and recommendations to management. Prepare interim reports of progress against the internal audit plan. Report to the Retirement Board's Audit Committee, and individually, at least bi-annually as required.
Monitor and follow-up on the implementation of audit recommendations and prepare status updates for the Retirement Board's Audit Committee and the Retirement Board.
Ensure Internal Audit Department staff adheres to the Institute of Internal Auditors’ Code of Ethics.
Attend Retirement Board/Audit Committee meetings and perform special reviews as requested.
Maintain knowledge of organizational functions through continued education, training and annual assessments.
Develop and maintain a published Quality Assessment Review (QAR) schedule for an external firm’s evaluation of the Internal Audit department and report results to senior staff and the Retirement Board’s Audit Committee. Develop and maintain a Quality Assurance and Improvement Program to address QAR findings and provide an action plan/progress report to the Retirement Board’s Audit Committee.
Monitor the implementation of recommendations that result from mandated Ohio Retirement Study Council’s fiduciary audits and report findings to the Retirement Board’s Audit Committee.
Develop and maintain functional, collaborative relationships with members of the Retirement Board, the Retirement Board’s Audit Committee, senior staff and serve as the designated point of contact for Internal Audit.
Maintain the coordination and inclusion of risk management efforts related to Enterprise Risk Management, the STRS Ohio Strategic Plan, STRS Ohio Compliance activities and external assurance providers.
Assist the Retirement Board’s Audit Committee in the development and maintenance of the Audit Committee Charter.
The above list of duties is intended to describe the general nature and level of work performed by persons assigned to this classification. It is not to be construed as an exhaustive list of duties performed by the persons so classified, nor is it intended to limit or modify the right of any supervisor to assign, direct and control the work of associates under supervision.
Summary of Qualifications
Bachelor’s degree in business, accounting, finance or a related field required.
Master’s degree in related field preferred.
Certified Public Accountant (CPA) or Certified Internal Auditor (CIA) professional certifications preferred.
Ten years of auditing or accounting experience in public accounting or large organizations, including a basic understanding of data processing operations required.
Excellent knowledge of database and spreadsheet software.
Project management experience preferred.
Ability to produce professional documents and conduct public presentations.
Ability to work with and preserve confidential information required.
Superior oral and written communication skills required.
Interpersonal skills necessary to deal effectively and courteously with internal and external contacts required.
Superior organizational skills and a high degree of accuracy and attention to detail required.
Proven ability to operate Microsoft Office programs and standard office equipment required.
Ability to work independently and in a team environment while meeting deadlines with minimal direct supervision required.
Excellent work record of attendance, punctuality and the ability to maintain a flexible work schedule to meet business needs. Occasional evening, weekend and non-regular work hours may be required.
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