Internal Audit Manager

Toyota Industries Commercial Finance - Coppell, TX

Full-time
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Toyota Commercial Finance

As part of the Toyota family of companies, Toyota Commercial Finance (TICF) creates extraordinary customer experiences through our Brand Promise to be the partner of choice in the commercial finance industry.
TICF is a leading provider of financial services, offering an extensive line of financing plans to Toyota customers through participating dealers across the United States. TICF started as a small equipment finance division, and has experienced substantial growth.
Since 1985, TICF has offered a variety of commercial financing programs for Toyota forklifts and Hino trucks through our network of Toyota Industrial Equipment and Hino Motor Sales dealers to their customers. Our focus is to provide proactive financing solutions to help meet the changing needs of the industry.
To continue to successfully support and facilitate our mission, we seek qualified candidates who encompass our core values which include:
TICF Vision Statement: To be the Partner of Choice in the Commercial Finance Industry.
TICF Mission Statement: An extraordinary team of professionals, providing always better solutions, optimizing sales through partnerships.

TICF Core Values:
Partnership - embracing the spirit of collaboration, we stand united to achieve our common goals.
Performance - we hold ourselves to the highest standards and value individual contributions that lead to professional excellence and company results.

Integrity - we value each customer by treating them respectfully and earn their trust through the consistent and ethical treatment of others.
Customer Focus - empowered to succeed, we will let nothing stand in the way of being the best by providing flexible, personal, and proactive solutions for our customers.

Innovation - we strive to be ahead of the times through endless creativity, curiosity and pursuit of improvement.

TICF is looking for an objective Internal Audit Manager to add value and improve our operations by bringing a systematic and disciplined approach to the effectiveness of risk management, control, and governance processes. The successful candidate will possess a solid understanding of risk and control concepts, and ability to apply these concepts to evaluate the adequacy and effectiveness of business processes and controls to mitigate risk to tolerance levels defined by management.

The Internal Audit Manager will lead internal financial and operational audits for TICF, with the objective of assessing compliance with operating policies and procedures, including adherence to global sales finance company policies, evaluating existing internal controls, and ensuring the use of sound business practices that are consistent with TICF's business risk objectives. S/he will be responsible for development of test programs in order to evaluate the operating effectiveness of relevant controls, maximizing the reliance that such test work can be used in support of external audit required review; the production and distribution of audit reports; and development and adherence to the audit plan.

Other responsibilities include supporting the shared service needs of TICF's sales finance affiliates, the development and execution of a risk-based audit program, and effective utilization of compliance initiatives implemented by TICF as a means of addressing emerging regulatory requirements. This job description is not intended to be all-inclusive. A successful TICF Internal Audit Manager may perform other related duties as required to meet ongoing needs and objectives of TICF and its parent company Toyota Industries Global Commercial Finance, Inc.

This role will be managed by TICF's Corporate Counsel, and will report directly to TICF's Chief Executive Officer on all internal audit matters.

RESPONSIBILITES

Planning and Execution
Responsible for the development and implementation of evolving multi-year internal audit plans and strategies, incorporating business process, business risk and internal audit best practices. Performs the full internal audit cycle including risk management and control management over operations' effectiveness, control of IT systems and applications, financial reliability and compliance with all applicable directives and regulations.

Determine scope of internal audit review in conjunction with the Chief Executive Officer
Assess risks and internal controls by identifying areas of non-compliance, evaluating manual and automated financial processes, identifying process weaknesses and inefficiencies, and operational issues
Ensure that operational audit plans address areas of risk that have significant impact to TICF
Develop testing methodologies to evaluate the adequacy of controls
Develop a risk based test plan by selecting appropriate audit approach, test procedures and sampling criteria based on professional judgment and departmentally defined internal audit methodology
Design audit procedures according to company guidelines, including GAAP and IFRS standards
Manage the performance of audit procedures, including identifying and defining issues, developing criteria, reviewing and analyzing evidence, and documenting processes and procedures
Perform audit procedures, including identifying and defining issues, developing criteria, reviewing and analyzing audit results, and resolution of audit open issues

Identify those activities subject to audit coverage, evaluate their significance, and assess the degree of inherent risk in the activity in terms of cost, schedule, and quality

Develop a thorough understanding of business processes in scope for assigned audits and document the processes in flowcharts or process narratives

Identify and document inherent risks and controls within the business processes

Evaluate the adequacy of process design and the effectiveness of controls in meeting business and control objectives. Identify and document control and process weaknesses and provide evidential support for findings
Propose practical and value added recommendations to address control weaknesses and/or process inefficiencies

Reporting

Complete audit work papers and memoranda by documenting audit tests and findings
Communicate key findings and recommendations to the Chief Executive Officer
Present audit findings and internal control deficiencies to management

Draft a comprehensive report of the audited area(s)
Recommend audit scope changes based on testing results
Recommend corrective action, process, and internal control improvements

Administration and Remediation

Work with TICF management team to create and execute remediation plans for any deficiencies and/or identified gaps
Work with TICF departments so that they commit to internal audit plans/guides and audit deadlines
Primary point of contact and facilitator for external auditors and government auditors
Collect, co-ordinate and disseminate material for the Audit Committee meeting
Ready to take on additional projects and to identify and pursue on-going process improvements

Perform ongoing follow-up on action plan implementation and timeliness for remedial actions
Conduct follow up audits to monitor management's improvements

Coordinate with TICF management team to ensure all controls needed for regulatory and other external audit requirements are established, documented, and tested
Conduct testing to assist external auditors with annual financial reporting audit
Support external auditors and government auditors by coordinating information requirements

Policies & Procedures

Administer TICF's Audit Policy
Continue to develop and implement internal auditing policies, procedures, and program
As Chair of the Audit Committee, advise TICF Executive Management Team on audit and internal control matters
Review and evaluate proposed policy/procedural changes and recommendations submitted by corporate departments to determine appropriateness and impact upon current and future TICF operations

Continuing Education and Training

Pursue continuing education and professional development opportunities, reading professional publications, maintaining personal networks, and participating in professional organizations
Engage in ongoing knowledge development regarding the rules, regulations, best practices, tools, techniques and performance standards of the sales finance industry
Continuous improvement of internal audit practices and tools

REQUIREMENTS

Skills

High attention to detail and excellent analytical skills
Team player with strong interpersonal, communication and project management skills
Model time management and organizational skills
Logical approach to identifying and evaluating issues and problem solving

Knowledge

Considerable knowledge of the Standards for the Professional Practice of Internal Auditing and the Code of Ethics developed by the Institute of Internal Auditors (IIA)
Proven knowledge of auditing standards and procedures, laws, rules and regulations
In-depth knowledge of GAAP guidelines and Sarbanes-Oxley Act rules and regulations; specifically Sections 302 and 404 pertaining to a company's certification of internal controls, a plus
Well-developed organizational skills with the ability to prioritize multiple assignments

Abilities

Contributes to company results by welcoming new and different work requirements, exploring new opportunities to add value to the organization, helping others accomplish related job results as and where needed
Exercises sound independent judgement
Ability to build relationships while asking tough questions
Ability to stand firm on difficult issues when required
Excellent written and oral communication ability
Develops and maintains effective and professional working relationships with all levels of staff within the organization, including Senior Management, Audit Committee, and the Board of Director
Unquestioned personal integrity with strong ethics and values consistent with TICF's culture
Capable of working independently and with minimum supervision
Able to assess risk and determine risk control measures, as well as assess the effect risk may have on the business if risk controls fail

Qualifications

Six or more years of full-time experience in internal or external audit, ideally with exposure to financial services industry
BA/BS degree in Finance, Accounting, Business or related discipline
Professional audit certification (CPA or CIA) required. Additional CISA certification is a plus
Prior success conducting external or internal audits
Demonstrated job commitment and personal flexibility to meet changing expectations
Commitment to self-development and expansion of knowledge
Technical proficiency: exposure to major enterprise resource planning systems like SAP and Oracle as well as other technologies critical to success and ongoing career progression
Strong background and experience with audit methodologies and techniques
Experience in Microsoft Office applications, including Excel, Word, PowerPoint, and Access
Experience with automated audit work paper solutions (TeamMate, AutoAudit, etc.) preferred
Experience with advanced data manipulation tools (ACL, Idea, etc.) preferred

Turn Toward Great Benefits:
Work/Life benefits (flextime, 9/80 work schedules offered where applicable, tuition reimbursement)

Vehicle lease and purchase (Eligible date of hire, access to favorable rates and more incentives!)

Medical, dental and vision insurance (Associates are eligible date of hire)

Matching 401(k)

Paid time off (vacation, sick, personal, holidays)

Equal Opportunity Employer M/F/D/V. We E-Verify.