Boston University is an international, comprehensive, private research university, committed to educating students to be reflective, resourceful individuals ready to live, adapt, and lead in an interconnected world. Boston University is committed to generating new knowledge to benefit society.
The University remains dedicated to its founding principles: that higher education should be accessible to all, and that research, scholarship, artistic creation, and professional practice should be conducted in the service of the wider community-local and international. These principles endure in the University's insistence on the value of diversity, in its tradition and standards of excellence, and in its dynamic engagement with the City of Boston and the world.
Boston University comprises a remarkable range of undergraduate, graduate, and professional programs built on a solid foundation of the liberal arts and sciences. With the support and oversight of the Board of Trustees, the University, through the faculty, continually innovates in education and research to ensure that the needs of students and an ever-changing world are met.
Established in 1839 and chartered in 1869, Boston University employs over 4,000 world-class faculty in various disciplines and offers more than 350 highly ranked undergraduate, graduate, and professional programs.
Located in the heart of Boston, the University currently enrolls nearly 37,000 graduate and undergraduate students in 17 schools and colleges on three campuses comprising 140 acres. Boston University students are outstanding scholars and leaders, producing new knowledge as they prepare to change the future of the world.
The University has invested significantly in world-class research infrastructure, such as the National Emerging Infectious Diseases Laboratories (NEIDL), and innovative interdisciplinary research as exemplified by the Faculty of Computing & Data Sciences established in 2019. Boston University's sponsored program awards (excluding financial aid) totaled $531 million in FY2022; the University was invited in 2012 to join the Association of American Universities (AAU), the leading group of North American research universities. Boston University's education and research programs are sustained by an annual operating budget of over $2.7 billion, supported partly by an endowment valued at roughly $3 billion in FY2022.
The University's basic economic model has proved robust and prudent management decisions have protected the University's financial soundness even during periods of uncertainty. Fiscal year 2022 ended with a record operating gain of $176 million, and despite pandemic related economic disruptions, net assets grew at a compounded annual rate of 7.5% between fiscal years 2018 and 2022, driven in part by annual revenue growth of 5.6% over the same 5-year period.
The University completed its first-ever comprehensive capital campaign with gifts and pledges totaling over $1.8 billion ($800 million more than the campaign's original, $1 billion dollar goal). Concerted outreach to the more than 380,000 living alumni of the University during the campaign-and significant recent major gifts to the University-justify optimism that private giving will continue at a brisk pace. Generous giving by alumni and friends resulted in philanthropic support of over $242 million in Fiscal 2022, the best cash year for fundraising in the University's history.
Boston University's transformation is perhaps most evident in the national and international recognition achieved by faculty in diverse fields on both campuses and in prestigious grants to distinguished programs or departments. U.S. News & World Report ranked BU #70 worldwide in their 2022-2023 list of Global Universities and #41 in their 2022-2023 rating of 'America's Best Colleges'.
What will it mean for Boston University to be a leading major research university in 2030? And how does Boston University get there? To answer those questions, the Office of the Provost established a Strategic Planning Task Force that worked across the BU community for nearly two years to develop BU 2030, a collective vision for maintaining BU's leadership role for the next 10 years. This plan was endorsed by the Boston University Board of Trustees in April 2020, and its implementation is well underway.
The purpose of Internal Audit & Advisory Services is to assist Senior Management and the Audit Committee of the Board of Trustees in the effective discharge of their respective duties. The internal audit program is intended to assist the University in accomplishing its objectives by bringing a systematic, disciplined approach to increase the effectiveness and efficiency of risk management, control, and governance processes.
Internal Audit & Advisory Services provides Senior Management with analyses, appraisals, and recommendations concerning the activities reviewed to assist them in maintaining and improving the overall control and process environment within the operations under their direction, and assists Senior Management in monitoring the overall effectiveness of the system of internal control in achieving the broad objectives of the University. Additionally, the internal audit function provides the Audit Committee with counsel and information regarding the activities reviewed to assist them in fulfilling their responsibilities.
Position Summary & Responsibilities
The Associate Vice President, Internal Audit & Advisory Services (AVP for IA&AS) oversees a talented team of 13 professional staff and works across operational, academic, and functional areas throughout the organization to generate and sustain strategic collaborations and partnerships that drive organizational effectiveness in support of the university's mission and vision.
As articulated by the Institute of Internal Auditors, the mission of internal audit is to enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight. Advisory service activities go beyond the scope of traditional attestation work and are intended to add value and improve the University's governance, risk management, and control processes without Internal Audit assuming management responsibility.
In conjunction with the Audit Committee and the senior management team, the AVP for IA&AS will:
Set the vision for the internal audit function university-wide by developing and maintaining a risk-based, systematic, and strategically focused methodology and practice.
Identify and evaluate risk and control issues and provide practical recommendations (advise) to ensure risks are appropriately managed.
Develop and implement annual and long-term audit plans that evaluate and improve risk management, compliance, governance, and internal controls. The internal audit plan should be based on a comprehensive risk assessment, undertaken at least annually, and be inclusive of executive management and Audit Committee perspectives, concerns, and priorities, and informed by the input of the external auditors.
Maintain excellent relationships with the external auditors and the Audit Committee to ensure effective communication of critical issues in a timely manner.
Ensure regular communication with the executive management team and the Audit Committee on topics such as internal audit purpose, authority, responsibility, and performance relative to the internal audit plan.
Actively participate in applicable executive management forums and Audit Committee meetings, advising on emerging risk and control issues.
Actively seek the views of key stakeholders to identify and evaluate risk and control issues. Provide practical recommendations to ensure risks are appropriately managed and promote the efficiency and effectiveness of stakeholder activities.
Ensure timely and transparent communications related to audit issues, control gaps, and potential mitigating actions.
Recruit, train and develop a high performing, high quality internal audit organization. Build and maintain infrastructure to support this endeavor.
Ensure that the University-wide audit team develops reasonable fact-based opinions, inclusive of management's views, and articulates them in a manner designed to generate prompt, thorough, and effective corrective action.
Design and manage a program of training and continuous professional development for assigned staff and ensure that the team is appropriately resourced and staffed with qualified individuals.
Direct the preparation and presentation of internal audit reports and prepare and deliver presentations to the Audit Committee, senior management, and other University stakeholders.
Maintain the requisite knowledge of current trends and technical issues impacting the professional practice of internal audit and areas of audit responsibilities, particularly in a university setting.
Identify continuing opportunities for value-added improvements to the function. Develop and implement new techniques, methods and practices to improve enterprise risk management and audit effectiveness and efficiency.
Required Skills Pivotal Experience & Expertise
The successful candidate will have a thorough knowledge of financial and operational controls, as well as an understanding of best-in-class audit methodologies.
Proficient in risk and control analysis and audit concepts for a full range of areas and will be skilled at analyzing root causes of problems and anticipating horizon issues.
Expert knowledge and experience in control theory and professional auditing practices, including the assessment of inherent risk, evaluation of control design, development and execution of audit tests, and the assessment of control deficiencies.
Extensive experience in providing management with observations and advice to improve business processes, increase operating efficiencies, and reduce operational risk.
Ability to effectively integrate business, operational, technological, regulatory and financial considerations into the design and execution of enterprise risk management and internal audit work.
Bachelors degree in Accounting, Finance, or other business-related field from a respected college or university is required; MBA is desirable; CPA, CA and/or CIA preferred.
Strategic and Entrepreneurial Leadership: Leadership capabilities to translate vision into execution and to deliver results, with the ability to work within deadlines while still providing a high-quality product. Sound technical skills, analytical ability, good judgment and strong operational focus.
Team Builder: Create a high performance, diverse, and inclusive culture, through the effective recruitment, development and coaching of team members who are driven to exceed agreed objectives. Develop a culture which is underpinned by individual accountability, a shared recognition of the value of diverse perspectives, a focus on the mission of the University and of the Audit function, and a spirit of partnership.
Problem-solver: Understand, analyze and interpret complex problems and utilize appropriate approaches to achieve practical sustainable solutions. Engage team in collaborative problem solving to develop plans or resolve issues.
Excellent Communicator: Listens intently, thinks clearly and responds effectively to inquiries or challenges on a range of subjects. Communicates with appropriate transparency and persuasively presents to both internal and external stakeholders. Possess the ability to use discretion in communicating on office activities given the nature of the Internal Audit work and function.
Collaborative Style: Promotes open dialogue across units and campus to identify and take advantage of best practices and other collaborative opportunities with various stakeholder groups, balancing responsiveness with being appropriately firm when necessary.
Culture Fit & Impact
Energetic, performance- and mission-driven: Focused on what is financially best for the University in support of its teaching and research mission when undertaking office work.
Rooted in integrity and ethical standards: Demonstrates an exceptional degree of personal integrity, ethical conduct, and diplomacy in setting high standards for personal and professional behavior.
Role model for the organization: Possesses and values self-awareness and a strong degree of personal accountability. Encourages and promotes an inclusive culture.
Well-organized and self-directed: Possesses a capable intellect and capacity for strategy; strong work ethic; highly disciplined in prioritization, execution, process management, and leadership. A 'hands-on' approach to management and functional responsibilities.
Exercises humility: Owns a professional maturity, reflective ability, enthusiasm and positive attitude. Demonstrates firmness in decision making.
All interested and qualified applicants should send their resume and cover letter directly to: BUAVPIA@Heidrick.com
Please note all newly hired staff and faculty will need to be in compliance with Boston Universitys COVID-19 Vaccination and Booster Requirement within 30 days of date of hire. You must upload your vaccine documentation or request a medical or religious exemption (instructions). For further information on the Universitys response to COVID-19, please visit the COVID-19 Resources site.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, physical or mental disability, sexual orientation, gender identity, genetic information, military service, pregnancy or pregnancy-related condition, or because of marital, parental, or veteran status. We are a VEVRAA Federal Contractor.
Job Location: Boston, Massachusetts, United States Position Type: Full-Time/Regular Salary Grade: Based on experience
Boston University is no small operation. With over 33,000 undergraduate and graduate students from more than 140 countries, 10,000 faculty and staff, 16 schools and colleges, and 250 fields of study, our two campuses are always humming.