Arch

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VP, Internal Audit, Mortgage Services

VP, Internal Audit, Mortgage Services

Job ID 
2017-1302
# of Openings 
1
Job Locations 
US-NC-Greensboro
Category 
Internal Audit

More information about this job

Overview

The Company

Arch Capital Group Ltd. (NASDAQ: ACGL)) is a Bermuda public limited liability company with approximately $10.5 billion in capital at December 31, 2016, and, through operations in Bermuda, the United States, Europe and Canada, writes specialty lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance, on a worldwide basis. Our unique underwriting platform, successful management team and strong capital base has enabled us to establish a prominent presence in the global insurance and reinsurance markets. 

Responsibilities

The Position

We are seeking candidates for a Vice President, Internal Audit position. This individual will develop and lead the execution of the Company's global mortgage insurance segment internal audits.ACGL's mortgage segment is comprised of U.S. primary mortgage insurance and various mortgage (re)insurance activities with operations in the United States, Bermuda, Europe, Australia and Hong Kong. Interacting with executives and officers across multiple businesses and operations, the VP, Internal Audit will focus audit resources on highest risks while providing audit coverage across the Company's mortgage insurance operations. This individual will manage internal audit team members and co-source resources as needed. This role offers a unique opportunity to learn about the Company's mortgage insurance businesses and operations and can lead to career opportunities outside and within the IA department. Based at our US Mortgage Insurance Office in Greensboro, North Carolina, this position reports to the SVP, Director of Internal Audit, who is based in White Plains, NY. This position is expected to have approximately 10-25% travel. 

 

Job Responsibilities

  • Work effectively with management to evaluate our mortgage insurance businesses, related risks, and related controls including monitoring of aggregate exposures as well as operational and financial processing risks
  • Preform annual risk assessments, develop annual internal audit plans for the organization's mortgage (re)insurance entities and contribute to the ACGL level risk assessment and internal audit plan  
  • Contribute to ongoing business monitoring and optimization activities including: identifying emerging business risks and opportunities, understanding organizational changes through routine interaction with management and provide advisory services during the development of new businesses and systems
  • Execute the internal audit plans, revise those plans and individual audit scopes as necessary
  • Provide executable recommendations that improve operations, controls and how the business is managed
  • Ensure audits are executed and reported on within agreed-upon timetables and budgets
  • Establish objectives and scopes for audits, oversee the procedures and effectively communicate audit observations and recommendations with senior management 
  • Prepare clear and concise written audit reports and Audit Committee meeting presentations
  • Facilitate the sharing of best practices across the Company's entities
  • Audits include areas such as risk management, underwriting, premiums, policy/contract administration, claims, ceded reinsurance,  financial reporting and information technology
  • Manage team to accomplish results through effective recruitment, selection, training, development, performance management and recognition
  • Coordinate with the Company's other assurance functions (Risk Management and SoX) and interact with external auditors
  • Display teamwork, integrity and leadership
  • Work collaboratively and develop strong relationships with business units and operational  areas
  • Evaluate the effectiveness of business and operating groups' actions in response to internal audit recommendations
  • Evaluate internal audit policies and procedures to enhance internal audit effectiveness and capabilities

 

 

 

Qualifications

Desired Skills

  • Strong desire to add value and succeed as a member of Arch's mortgage segment leadership team and the IA team 
  • Ability to assume increased responsibilities within a dynamic and growing organization 
  • Ability to quickly differentiate the importance of various processes, risks and related controls
  • Highly effective interpersonal and communication skills; ability to write clear and concise reports
  • Strong work ethic and ability to work autonomously while effectively managing expectations 
  • Ability to function in a team environment

Required Education/Experience 

  • Bachelor's Degree
  • CPA or CIA
  • 12+ years of related experience 
  • Insurance, financial services or similar industry experience, experience with mortgage insurance or mortgage lending preferred, but not required
  • Expert knowledge of internal auditing (procedures, testing, and reporting), internal controls, risk management, and finance and accounting practices and methods