National Association of State Retirement Administrators

Position Information

Chief Audit & Risk Officer
About Us
Indiana Public Retirement System (INPRS’) is among the largest 100 pension systems in the United States. INPRS serves the needs of approximately 473,000 members and retirees representing approximately 1,244 employers, including public universities, school corporations, public safety, municipalities and state agencies.  The Indiana Public Retirement System is a public pension fund who manages approximately $38 billion in assets, making it one of the largest in the United States.
Why Join Our INPRS’ Culture
INPRS’ believes that people are the foundation of our success. It takes people with different backgrounds, ideas, and strengths to be successful. Balance in life is important. We strive to have a flexible and supportive environment while not sacrificing service to our members. We pride ourselves by modeling a collaborative, diverse and inclusive environment for our employees. Our mission. As fiduciaries, educate stakeholders, collect necessary contributions, and prudently manage member assets to deliver promised defined benefit and defined contribution benefits and services”.

What you will do
Responsibility:  Serves as the organization’s chief audit and risk executive and as a member of the executive management team.  Performs advanced level professional internal auditing work as a key component of the corporate governance structure.  Work involves directing a comprehensive audit program including performance, financial and compliance audit projects; providing consulting services to the organization’s management and staff; providing direction to development of the Annual Audit Plan; and providing ongoing training, coaching and supervision to Internal Audit staff.  Maintains organizational and professional ethical standards.  Works independently with extensive latitude for initiative and independent judgment.
Reporting:  The Chief Audit and Risk Officer is functionally responsible to the Board of Trustees and, for administrative purposes, reports to Executive Director.  The Chief Audit and Risk Officer will have no executive or managerial powers or duties at the Fund except those relating to the management of the Internal Audit and Risk operation and the external audit.  The Chief Audit and Risk Officer will have an independent status within the Fund and will not be involved in the day-to-day operations of the Fund.  The Chief Audit and Risk Officer will not be involved in the implementation of internal control systems, processes or procedures, but may be consulted on the adequacy when they are first considered, proposed or reviewed internally.   
Enterprise Risk Management: The Chief Audit and Risk Officer leads the INPRS Executive team and facilitates the assessment, response and management of the risks facing the organization.  The intent is to embed enterprise risk management in a practical way into all business activities—not to impose enterprise risk management as an extra requirement. The Board provides oversight of the critical enterprise risks, as well as the process used by management to assess and manage enterprise risk.
Essential Duties:
  • Annually reviews the Internal Audit Charter for any significant changes in policies and current audit practices and obtains the Board’s approval on those changes.
  • Annually assists in the performance of a Risk Assessment to determine the exposure of the System to risk and establish the direction and approach of audits. Based on the results of the risk assessment, prepares a detailed annual Audit Plan for submission to the Board for approval.
  • Prepares proposed budget and staffing needs for the Internal Audit Department for management to present to the Board for fiscal year budget approval.
  • Develops and establishes policies and procedures as needed for conducting internal audit activities and reporting.
  • Reviews the policies, procedures and management controls of the Funds to ensure that activities are properly managed and fulfilled in a cost-effective manner representing the best interests of members. Reviews systems and operations to assess the extent to which organizational objectives are achieved, and the adequacy of controls over activities leading to achievement of these objectives.
  • Evaluates the relevance, reliability and integrity of financial and management information.  
  • Evaluates the use of resources with regard to economy, efficiency, and effectiveness.
  • Assesses the means of safeguarding assets and verifying their existence.
  • Ascertains the extent of compliance with internal controls, fiduciary standards, policies, and procedures. Consults with the legal department to determine compliance with laws and regulations.
  •  Recommends improvements in procedures and systems to prevent waste, extravagance, and fraud, or to improve efficiency and effectiveness.
  • Provides counsel and advice to management and the Board on appropriate systems of controls and other accounting and operational matters in a consulting capacity.
  • Participates as an advisor in the planning, design, development, and implementation phases of manual and automated systems to determine whether: Adequate controls are incorporated in the system; Thorough systems testing is performed at appropriate stages; and Systems documentation is maintained, complete, and accurate.
  • Carries out ad hoc appraisals, inspections, investigations, examinations or reviews requested by the Board or management.
  • Contracts with external service providers regarding assistance with specialized audit-related activities (e.g., specialized audits, investigations, consulting engagements, etc.).
  • Coordinates with the System’s external auditors to ensure all significant risks are addressed.
  • Facilitates the work of any external (contracted) auditors hired by the System.
  • Follows-up on audit findings identified by both internal and external audits and reports to management the status of these findings.
  • Draws attention and report to management and the Board on failure to take remedial action
  • The Internal Audit Department reports the following: Results of the annual risk assessment and resultant audit plan to the Board for approval; Any changes to the annual audit plan and projects requested by management to the Board for approval; Draft written report of audit results to the auditee as soon as practicable upon completion of each audit and produce a final report for the auditee and Executive Director; Detailed project report, including the background of the project, procedures performed, and where applicable, management’s action plans. Additionally, a copy of the observation tracking log will be provided on a semi-annual basis.
  • For Enterprise Risk Management, the Chief Audit and Risk Officer: Maintains INPRS’s enterprise risk management framework; Engages in regular and open communication with the Executive Director and the executive staff on matters of enterprise risk and the enterprise risk management process; Maintains enterprise risk management communication within the INPRS organization; Facilitates executive management risk discussions and consolidating report; Coordinates and supplies training in enterprise risk management.
Experience and Qualifications:
  • Bachelor’s degree in accounting
  • At least one of the following designations preferred: Certified Internal Auditor (CIA), Certified Informational Systems Auditor (CISA), Certified Fraud Examiner (CFE), Enterprise Risk Management (ERM) or other risk management
  • 10 + years of experience
Comprehensive Benefits Package:
  • Remote working due to COVID-19
  • Competitive base salary with investment incentive compensation plan
  • Healthcare coverage (medical / dental / vision)
  • Health savings account with employer contribution
  • Prescription coverage
  • Employer funded retirement plan (pension plan)
  • Deferred compensation plan (employer and/or employee contribution plan)
  • Flexible spending account
  • Work/life balance
  • 12 paid holidays; 14 during election year
  • Paid leave (personal, sick, vacation)
  • Tuition reimbursement
  • Group life insurance
  • Employer-paid downtown parking
If you are interested in this position, please submit your application and resume by clicking on this link CARO Posting. For more information about our organization, please visit the INPRS’ careers website:
This position is not eligible for H-1B or any other kind of temporary or permanent sponsorship for work authorization by the Indiana Public Retirement System. Therefore, if you will require sponsorship from us for work authorization now or in the future, we cannot consider your application at this time.
We are an Equal Opportunity Employer

Position: Chief Audit & Risk Officer
Organization: Indiana Public Retirement System
Location: Indianapolis,  IN 
United States
Salary: $117,000 - $150,000
Posting Start Date: 2/2/2021
Date Posted: 2/2/2021
Status: This listing expires on: 3/4/2021
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Organization Information
Indiana Public Retirement System
1 North Capitol

Indianapolis,  IN 46204
United States
Denise Matusiewicz