Role Overview for Head of Internal Audit with a Global Insurer – Chicago, IL
JRG Partners is proud to partner with a premier, globally recognized insurance provider in their search for a dynamic and visionary Head of Internal Audit. This executive leadership position, based in the vibrant heart of Chicago, IL, offers a unique opportunity to shape and direct the global internal audit function, ensuring the integrity of financial and operational controls across the enterprise.
As a key member of the senior leadership team, you will report directly to the Audit Committee of the Board of Directors, with an administrative reporting line to the Chief Financial Officer. This dual reporting structure ensures independence and objectivity while fostering a collaborative partnership with executive management.
The Head of Internal Audit will be responsible for providing strategic direction and leadership for the internal audit department. You will be tasked with developing a comprehensive, risk-based audit plan that aligns with the organization’s strategic objectives and addresses critical areas of risk, including financial, operational, compliance, and technological domains. This role is not merely about compliance; it is about being a strategic business partner who provides valuable insights to senior management and the Board, helping to drive continuous improvement, enhance governance practices, and strengthen the overall control environment.
The ideal candidate is a forward-thinking leader with extensive experience in the insurance industry, possessing a deep understanding of its unique risks and regulatory landscape. You will lead a talented team of audit professionals, fostering a culture of excellence, curiosity, and professional growth. This is a highly visible role with significant impact, offering the chance to protect and enhance the value of one of the world’s leading insurance organizations.
Key Responsibilities of Head of Internal Audit with a Global Insurer – Chicago, IL
The Head of Internal Audit will have a broad and impactful scope of responsibilities, encompassing strategic planning, operational execution, team leadership, and stakeholder engagement. Success in this role requires a blend of technical expertise, strategic acumen, and exceptional leadership skills.
Strategic Audit Leadership & Planning
Develop, implement, and maintain a forward-looking, risk-based annual internal audit plan to evaluate and improve the effectiveness of the company’s governance, risk management, and internal control processes. Present this plan for review and approval to the Audit Committee.
Audit Execution & Oversight
Direct and oversee the execution of a wide range of audits, including financial, operational, IT, and compliance audits across all global business units. Ensure that all audit work is conducted with the highest level of quality, objectivity, and efficiency, and that reports are clear, concise, and impactful.
Risk Assessment & Management
Proactively identify and assess key business risks, including emerging risks related to market changes, regulatory shifts, and technological advancements. Collaborate with the Enterprise Risk Management (ERM) function to ensure a coordinated and comprehensive approach to risk oversight.
Governance & Compliance (SOX)
Oversee the company’s Sarbanes-Oxley (SOX) 404 compliance program, including scoping, testing, and remediation activities. Ensure the effectiveness of internal controls over financial reporting and provide regular updates to management and the Audit Committee.
Stakeholder Communication & Reporting
Serve as the primary liaison to the Audit Committee, providing regular, transparent updates on the audit plan, significant findings, and the status of management’s remediation efforts. Cultivate strong, collaborative relationships with senior executives, business unit leaders, external auditors, and regulators.
Team Development & Management
Lead, mentor, and develop a high-performing global internal audit team. Foster a positive and inclusive work environment that encourages continuous learning, professional development (e.g., CPA, CIA certifications), and career progression. Manage departmental resources, including budget and staffing, effectively.
Advisory & Special Projects
Act as a trusted advisor to the business on matters of control and process improvement. Lead or participate in special investigations, fraud reviews, and other ad-hoc projects as requested by the Audit Committee or senior management.
Continuous Improvement & Innovation
Champion the adoption of innovative audit techniques, including data analytics, automation, and continuous auditing, to enhance the efficiency and effectiveness of the audit function. Stay abreast of industry best practices and ensure all audit activities adhere to the highest professional standards, including those set by the Institute of Internal Auditors (IIA).
Requirements for the Head of Internal Audit with a Global Insurer – Chicago, IL
We are seeking a seasoned and accomplished audit executive with a proven track record of leadership within a complex, global organization. The following qualifications are essential for this role:
Educational Background
A Bachelor’s degree in Accounting, Finance, or a related field is required. An MBA or other advanced degree is highly preferred.
Professional Certifications
Active Certified Public Accountant (CPA) or Certified Internal Auditor (CIA) designation is mandatory. Additional certifications such as CISA, CFE, or CRISC are advantageous.
Experience
A minimum of 15 years of progressive experience in internal audit, public accounting, or a related field, with at least 7 years in a significant leadership capacity managing a large team.
Industry Expertise
Deep experience within the insurance (P&C, Life, or Reinsurance) or financial services industry is a strict requirement. A thorough understanding of insurance-specific accounting, regulations (e.g., NAIC, Solvency II), and operational processes is critical.
Technical Acumen
Expert-level knowledge of U.S. GAAP, SOX, COSO internal control framework, and risk assessment methodologies. Proven experience in applying data analytics and other technology within the audit process.
Leadership & Communication Skills
Exceptional executive presence and the ability to communicate complex issues clearly and persuasively to diverse audiences, including the Board of Directors. Demonstrated ability to build consensus, influence change, and lead with integrity and courage.
Strategic & Critical Thinking
A strategic mindset with the ability to see the big picture, connect disparate pieces of information, and provide forward-looking insights. Strong analytical and problem-solving skills are essential.
Interpersonal Skills
Proven ability to build and maintain strong professional relationships at all levels of the organization. A collaborative and team-oriented approach is key to success.
Benefits & Perks Offered
Our client is committed to attracting and retaining top talent by offering a comprehensive and competitive compensation and benefits package. As a key executive, you will be rewarded for your contributions with:
Competitive Compensation
A highly attractive base salary, annual performance-based bonus, and a long-term incentive plan (equity).
Comprehensive Health & Wellness
A full suite of benefits including medical, dental, and vision insurance for you and your dependents. Access to wellness programs, mental health resources, and a fitness center subsidy.
Retirement Savings
A robust 401(k) plan with a generous company match to help you build a secure future.
Work-Life Balance
A generous paid time off (PTO) policy, company holidays, and flexible work arrangements to support your personal and professional life.
Professional Growth
A strong commitment to your professional development, including support for continuing education, industry conferences, and tuition reimbursement.
Additional Perks
Includes paid parental leave, life and disability insurance, employee assistance programs, and various corporate discounts.
How to Apply
JRG Partners has been exclusively retained for this executive search. If you are a qualified and ambitious audit leader ready to take on a challenging and rewarding role with a global industry leader, we encourage you to apply.
To be considered for this exceptional opportunity, please submit your resume and a cover letter detailing your relevant experience. For more information on our expertise in placing top-tier executives, please visit JRG Partners’ Accounting & Finance practice. We are committed to a confidential and thorough recruitment process. All inquiries and applications will be handled with the utmost discretion. We look forward to hearing from you.
