Operations Internal Auditor / FT
SFM is seeking someone who will play an active role in the planning and execution of financial, operational, and technical audits within the organization. As the sole Operations Internal Auditor, you will conduct internal audits to verify accuracy of records and compliance according to best practice standards, policies and procedures. You will be responsible for compiling audit findings, while making recommendations for modifications and improvements to systems and procedures.
The Operational Internal Auditor will execute internal audit plans to provide independent, objective assurance for the adequacy of risk management, effectiveness of internal controls and operational efficiencies. This position plays a key role in the upholding SFM's internal processes and ensures the company operates ethically and is the sole Internal Auditor within the company. You will prepare reports regrading the audit results along with making recommendations for the improvement of internal controls and ensure that best practices are adhered to. In this position, you will be asked to make presentations at Board Audit Committee meetings, and attend full Board meetings as necessary. Serving as a company resource for the identification of risks and best practices related to internal controls and governance is a key function. We are searching for someone who will embody the SFM operating principles and is able to work effectively with a variety of people.
SFM offers a flexible work environment which is includes hybrid work, so some office time is needed . Applicants must live in MN for this position. Applicants with Insurance auditing experience are encouraged to apply and having familiarity with workers' compensation insurance is a plus.
Our benefits include:
- Affordable Medical, Dental, Vision Insurance, HSA, FSA
- Flexible hybrid work environment
- Traditional and Roth 401(k) plans with company match
- Company contributions to help pay off student loans
- Monthly home internet allowance
- Free life insurance, STD & LTD
- Opportunities for annual gainshare bonus
- Pet insurance
- Generous PTO
- 9 paid holidays
- Paid parental leave
- Annual company-wide volunteer day
- Discounts on gym memberships, fitness apps and weight loss programs
- Adoption financial assistance
What You Will Be Doing:
- Objectively assess the audit universe while recommending the internal audit schedule to the Board Audit Committee for its approval.
- Manages the internal audit process with the objective of completing a full rotation every two to three years, based on the schedule approved by the Board Audit Committee.
- Executes the internal audit plans in compliance with the SFM Internal Audit Charter. Provides written and verbal reports to the Board Audit Committee regarding the completeness of Enterprise Risk Plans, management's adherence to internal controls, operational effectiveness, and recommendations for compliance with best practices. Oversees and confirms management's implementation of accepted recommendations.
- Attends and presents at regularly scheduled Board Audit Committee meetings and requested Board meetings.
- Performs audit testing as directed by, and in support of, the Company's external auditors.
- Verifies and documents the sequential integrity for claims' check and ACH registers. For checks issued in excess of $25,000, verifies the completeness of second check signer's review. Quarterly, reports on these compliance results.
- Manages compliance for Leader's active user reviews of key Company systems and platforms. Quarterly, reports on the compliance.
- Reviews the monthly query results of potential matches for OFAC (Office of Foreign Assets Control) terrorist list with Slapshot policyholders, claimants, and payment recipients. Performs compliance activities including the investigation, documentation and resolution of false positives, or reporting of any potential terrorist. Annually, reports on the compliance.
- Reviews monthly firewall testing and any reported cyber incidents, confirming any required action is timely completed by the information services team.
- Manages and documents the annual compliance with SFM's Record and Document Retention Policy, including departmental review and adherence with their schedule(s).
- Champions adherence to SFM's Code of Business Ethics and Conduct and internal controls.
- Audits the operational results as they relate to the annual Gainsharing Plan.
- Audits the operational results as they relate the annual CEO's incentive plan.
- Conducts work on other projects related to internal controls or the audit function as assigned by the Board Audit Committee or the SVP and Chief Legal Officer.
- Monitor internal audit developments and authoritative guidance from The Institute of Internal Auditors' (IIA).
- Monitor developments related to internal audit and enterprise risk management from COSO and other authoritative resources.
- Monitor emerging issues that may affect SFM and communicate those to management.
What We'll Love About You
- Bachelor's degree in accounting, mathematics, economics or related quantitative field or equivalent work experience conducting external/internal audits.
- Five-plus years of professional experience including internal/external audit experience and/or accounting or Finance; experience working in property and casualty or workers' compensation insurance is preferred.
- Certified Internal Auditor (CIA) or Certified Professional Account (CPA) certification preferred.
- Exceptional math, accounting, and financial analysis skills.
- Ability to direct, prepare, and analyze complex reports and financial statements.
- Understanding of audit procedures, including planning, testing, reporting, and implementation.
- Advanced computer skills on MS Office, accounting software and databases
- Ability to understand developments related to business matters of interest to internal audit, including legislation changes, new auditing techniques and practices.
- High attention to detail and excellent analytical and organizational skills.
- Strong verbal, written and presentation skills and a high degree of personal integrity.
- Well-developed interpersonal skills and ability to interact well with audit customers and company management.
- Demonstrate strong professional judgment, problem resolution, and critical thinking skills and ability to work with minimal supervision.
Work takes place in a semi paperless environment within an office setting or home office setting, using standard office equipment such as computers, phones, photocopies, which requires being stationary for extended periods of time. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; use hands and fingers, handle or feel; and reach with hands and arms and work with close vision. This position requires the ability to occasionally lift office products and supplies, up to 20 pounds. Work is performed indoors with little to no exposure to extreme outdoor weather conditions.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Work somewhere you love
SFM is unique in that we are small enough that your voice is heard, but has all the benefits and perks of a larger employer. We value your opinion, help you reach your goals, and make it easy for you to maintain work-life balance. Find out why our employees rate us a top employer and choose to stay and grow with us. Find out why SFM employees have stuck around for 30+ years!
Since 1983, our mission has been to be the workers' compensation partner of choice for agents, employers and their workers. In that time, we've expanded to a little over 20,000 customers in the Midwest and grown our offerings to include vocational rehabilitation, safe patient handling, loss prevention, medical services and more. Though much has changed through the years, our focus continues to be unrivaled customer service, safety, and providing better outcomes for employers and injured workers.
SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. All employment decisions are made without regard to race, color, religion, sex, national origin, age, sexual orientation, marital, familial, or veteran status, medical condition or disability, or any other legally protected classification.
SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify