Director of Internal Audit

Position

Director of Internal Audit

Virginia Farm Bureau Headquarters, Richmond, VA (Hybrid role with the opportunity to work up to 2 days remote)

Exempt, Full‑Time

Chief Risk Officer and the Board Audit Committee

This position is not eligible for relocation assistance

We are seeking an experienced and highly credentialed Director of Internal Audit to lead independent assurance and advisory functions across a diversified enterprise — including not‑for‑profit, property & casualty insurance, healthcare, and public event operations. This is a senior leadership role with direct exposure to the Board Audit Committee and meaningful organizational independence.

The Director maintains organizational independence through functional reporting to the Board Audit Committee, while coordinating administratively with the Chief Risk Officer (CRO) to ensure alignment with the enterprise risk management (ERM) framework, regulatory expectations, and strategic objectives.

• Serve as primary liaison to the Board Audit Committee — prepare audit plans, reports, dashboards, and executive summaries.
• Maintain independence and objectivity consistent with IIA Global Internal Audit Standards.
• Provide periodic assurance on effectiveness of internal controls, regulatory compliance, fraud risk, and emerging issues.
• Escalate significant findings, control failures, or governance concerns directly to the Audit Committee as appropriate.

• Develop and execute a risk‑based audit plan covering P&C insurance, health insurance, nonprofit, and entertainment/venue operations.
• Ensure coverage reflects regulatory, financial reporting, operational, technology, and cybersecurity risks.
• Periodically reassess audit priorities based on business strategy, regulatory changes, or evolving risk profile.

• Evaluate compliance with state insurance laws, regulatory exams, rate/form filings, producer regulations, and underwriting controls.
• Coordinate with regulatory exams and external auditors to avoid duplication and ensure efficient coverage.
• Assess controls related to solvency, reserving, reinsurance, claims operations, investment, and banking management.

• Assess governance, internal controls, and financial stewardship for nonprofit entities.
• Evaluate compliance with tax‑exempt purposes, conflict‑of‑interest management, restricted fund usage, and grant compliance.
• Evaluate separation of activities among nonprofit, insurance, and for‑profit operations.

• Partner with the CRO to align audit activities with the ERM framework while preserving audit independence.
• Provide independent challenge and assurance over risk identification, assessment, mitigation, and reporting.

• Oversee financial, operational, compliance, IT, and cybersecurity audits.
• Ensure audit work is appropriately documented, defensible, and retained per professional standards.
• Issue clear, actionable audit reports with prioritized findings, management responses, and remediation timelines.
• Monitor and report remediation status of audit findings to the Audit Committee.

• Build, lead, and develop internal audit staff — this role carries direct supervisory responsibility for at least one direct report.
• Manage co‑sourced audit relationships, the internal audit budget, and external audit resources.
• Promote continuous improvement, staff development, and professional education within the audit function.

• Bachelor's degree in Accounting, Finance, Business Administration, or related field.
• 10–15+ years of progressive audit experience with significant exposure to:
• Insurance operations or financial services
• Regulatory environments
• Risk‑based auditing
• Demonstrated experience working directly with boards or audit committees.
• Strong understanding of internal controls, risk management, and governance frameworks.

• CPA – Certified Public Accountant
• CIA – Certified Internal Auditor
• C…