The Director of Audit Operations performs advanced managerial internal auditing work. Work involves overseeing the division’s consulting and advisory services, directing complex internal audit projects for benefits (pension and health care), finance, business administration and human resources management divisions, and assisting the Chief Audit Executive with internal audit administration.
WHAT YOU WILL DO:
Consulting and Advisory Services
• Directs and oversees the department’s consulting and advisory services related to processes, activities, and related support areas primarily involved with the administration and delivery of pension and health care benefits.
• Provides advice on new initiatives so that risk may be managed and internal controls may be designed from the beginning.
• Provides advice on policies, procedures, and internal controls.
• Participates in various committees in a non-voting capacity.
• Improves the consulting and advisory service process, including researching benchmark information and industry best practices and developing standard policies and procedures based on research.
• Prepares the annual audit plan for benefits (pension and health care), finance, business administration, and human resources management using a risk assessment methodology and input from stakeholders in accordance with auditing standards.
• Directs complex internal audit projects, primarily in the benefits, finance, human resources management and other areas in support of the administration and delivery of pension and health care benefits.
• Manages audit staff in planning, organizing, conducting, and monitoring audit projects.
• Ensures that audit work (including agreed-upon procedures) conforms to quality control standards.
• Prepares, reviews, or approves audit objectives, scope, and testing procedures for assigned projects.
• Counsels and guides staff to see that approved audit objectives are met and that adequate coverage is achieved.
• Procures, directs, and supervises the work of external firms that provide specialized services in pension and health care benefits and related support areas.
• Communicates results of audits to management, the Audit Committee, and the Board of Trustees.
• Directs and assists with investigations as directed by the Chief Audit Executive.
Internal Audit Administration
• Directs development of the Annual Audit Plan and the Internal Audit Annual Report.
• Directs departmental activities such as developing the internal audit quality control procedures, hiring staff, updating the Internal Audit strategic plan, and developing requests for contracted services.
• Assists the Chief Audit Executive in preparing for Audit Committee meetings, including overseeing the quarterly recommendations follow-up process.
• Researches audit tools and leading audit practices for recommendation to the Chief Audit Executive.
• Represents Internal Audit at management and Board meetings and with external organizations.
• Performs related duties as assigned.
• Six (6) years of full-time, progressively responsible auditing and audit project management experience, including five (5) years directly managing professional staff.
• Experience may be concurrent.
Registration, Certification, or Licensure:
• Certified Internal Auditor (CIA) or Certified Public Accountant (CPA).
The Teacher Retirement System of Texas is responsible for investing funds under its stewardship and for delivering benefits to members as authorized by the Texas Legislature. TRS is a defined benefit plan, with retirement benefits determined by a pre-established formula. The trust fund is sustained principally by three sources -- contributions by members during their working careers, contributions by the state and investment revenues.
TRS was founded over 80 years ago. With assets at $154 billion, the Trust is the largest public retirement system in Texas in both membership and assets. It is the sixth largest public pension plan in the U.S. and is among the 20th largest in the world. The agency serves more than 1.5 million people. Over 1 million are public and higher education members and over 400,000 are retirement recipients and beneficiaries. As of FY 2017, pension benefits totaling nearly $10 billion were paid to retirees and their beneficiaries.