Virginia Retirement
System (VRS) offers
an exciting
opportunity for a
dynamic, innovative
and collaborative
senior leader to play
a key role in
advancing the
Audit Director
The Organization
Headquartered in Richmond, Virginia’s capital city, Virginia
Retirement System (VRS) is an independent state agency.
agency’s strategic
priorities as Audit
Director. Guided by
our vision, mission
and core values, we
thrive in an
environment where
teamwork, mutual
respect and a
commitment to
continuous
improvement lead to
superior results.
VRS administers a number of plans which include:
• Defined benefit, defined contribution and hybrid retirement
plans
• Managed disability
• Group and optional life insurance
• Long-term care
VRS administers benefit plans for more than 800 of Virginia’s
participating public employers, including state agencies, school
divisions, participating counties, cities, towns and other political
subdivisions. Active employees include about 148,000 teachers,
106,000 local government employees and 89,000 state employees.
VRS provides benefits to almost 190,000 retirees and beneficiaries.
The plan has approximately 140,000 inactive or deferred members.
VRS employs approximately 350 full- and part-time staff, manages
about $68 billion in assets and pays out about $4.1 billion annually in
benefits.
Agency Leadership
The VRS Board of Trustees is a nine-member board that serves as
the agency’s policy approving body. The Board selects the Director,
Chief Investment Officer (CIO) and Internal Audit Director.
VISION
To be the
trusted leader
in the delivery
of benefits and
services to
those we serve.
Audit Director
The Virginia Retirement System (VRS), a public pension fund with
approximately $68 billion in assets, is seeking an energetic,
enthusiastic and motivated professional with managerial and
auditing skills to lead its Internal Audit Department. The candidate
selected will report to the Board of Trustees through the Audit and
Compliance Committee and shall represent the department in all
audit matters. The successful candidate should have the experience,
skill sets and drive to ensure a highly functioning and value-added
internal audit function is in place. This is a highly visible position
interacting with executive management and Board members. Travel
is minimal.
VRS Executive Management Team
Mission
VRS delivers
retirement and
other benefits
to Virginia
public
employees
through sound
financial
stewardship
and superior
customer
service.
Minimum Qualifications
The candidate chosen will be charged with all facets of the
management and oversight of the VRS Internal Audit function. A
minimum of 10 years audit experience is desired with at least
several years of experience in managing or assisting in the
management of an internal audit function.
The successful candidate will:
• Be well-versed in the International Professional Practices
Framework issued by the Institute of Internal Auditors.
• Have experience with public pension funds and a
demonstrated understanding of the accounting standards
set forth by the Governmental Accounting Standards Board.
• Demonstrate a broad understanding of finance, investments
and information technology.
• Be adept at managing a highly professional audit staff and
delegating complex assignments.
• Have extensive experience in writing and editing audit
reports and making oral presentations.
• Have a proven track record of completing comprehensive
audit plans.
•
•
•
Core Values
Integrity
Teamwork
•
•
•
Demonstrate excellent interpersonal skills and sound
judgment.
Be able to quickly grasp complex concepts and understand
the essence of matters.
Possess the ability to work under various time constraints,
while managing multiple projects.
Have the skills in cultivating and maintaining constructive
relationships.
Be objective in views, but able to see varying perspectives.
Be proficient with MS-Office.
Experience with quality assurance programs and reviews considered
a plus; experience in conducting comprehensive risk assessments
and formulating resulting audit plans is highly desired.
A degree in accounting, business, finance or other related field along
with the CPA designation is required. A master's degree in the
business field is a plus as is the CIA and CISA designation.
Leadership and Core Competencies
Accountability
Agility
To perform the role of Audit Director successfully, the individual
should demonstrate the following VRS leadership and core
competencies:
 Drive for Results
 Strategic Agility
 Talent Management
 Change Leadership
 Business and Organizational
Understanding
 Organizational Stewardship
Knowledge, Skills and Abilities
 Customer Focus
 Interpersonal
Effectiveness &
Influence
 Continuous
Learning and
Innovation
 Ability to cultivate and maintain constructive relationships
with VRS management, external auditors, professional
colleagues and other relevant third parties.
 Demonstrated ability to make sound decisions using
independent judgement and the ability to work with diverse
groups of public officials and other stakeholders.
 Ability to leverage technology to enhance both auditing and
accounting outcomes.
 Skilled at monitoring implementation of audit
recommendations.
 Effective communication skills, both verbal and written, and
demonstrated skills in building strong interpersonal working
relationships with others who have diverse backgrounds.
 Success in building cohesive groups with inherent levels of
trust and collaboration.
 Ability to coach and develop leaders and staff.
Compensation and Benefits
Serving those who
serve others
The salary for this position is negotiable, based on education and
experience. VRS offers a comprehensive and substantial benefits
package that includes:
 Defined benefit and defined contribution retirement plans
 Health insurance and wellness program
 At least 12 paid holidays; annual, family and personal, sick,
and community service leave
 Life insurance
 Flexible work schedule
 Potential for individual and organizational-based
performance bonuses
 Tuition reimbursement
 Short- and long-term disability coverage
 Long-term care insurance
Application and Selection Process
The application deadline for the position is July 8. To be
considered, please attach a resume and cover letter, addressing
your qualifications and how you will add value in this position
during the online application process.
Helping members
plan for tomorrow,
today
Helping members
plan for tomorrow,
today
Application
Please go to the Commonwealth of Virginia Job Site to view and
apply for this position.
VRS will review the applications and finalists will be interviewed in
late July and early August 2016.
The Virginia Retirement System is an EEO/ADA Employer.