Design and implement digitalization strategy for Internal Audit

Responsible for leading Kaydon’s global internal audit function, managing Sarbanes-Oxley compliance activities, and leading the Enterprise Risk Management (ERM) process. Successfully implemented a governance risk and compliance software system (GRC) that allowed Kaydon to implement Sarbanes Oxley self testing. This effort moved the responsibility of lower risk and repetitive controls testing to the division employees and allowed the internal audit department to focus our testing on higher risk controls while reducing department headcount. Implemented a departmental score card and rating system for internal audit reports and for individual findings. This led to a reduction of slides in the quarterly audit committee presentations and positive feedback about clarity and focus of reporting. Introduced a formal tracking process to set operational goals for the department and the achievement of these goals. This planning process and execution of the plan resulted in a shift from spending 70% of department time on compliance efforts to 50%. This contributed to allowing the department to focus on operational risks that are significant to the organization. Introduced SharePoint to a global team of supply chain managers and integrated multiple divisions into shared metric tracking for cycle counting. Programming in the website allowed a time savings of 20 hours per quarter and allowed management to compare results and to utilize best practices from other divisions.

Worked directly with the Chief Audit Executive to help re-design the departmental goals with an increased focus on operational risks and audits. Responsible for the development and execution of audit programs by working with executive management and international audit teams to ensure proper alignment with current business strategies and risks.

 Implemented innovative audit strategies and data analysis, performed our entire audit plan using only internal resources. With this new focus on data analytics, prior year 2008 Sarbanes Oxley Costs were reduced by over $500,000 USD (60%) from the prior year and IT SOX audit costs by $65,000 USD (87%). Introduced, implemented and leveraged CCH TeamMate Audit Management System software. This includes Teammate EWP, TeamSchedule, and Team Central. This increased efficiency by over 25 hours per week. Introduced Wiki technology to Global Audit Team to facilitate the rapid development of new plant balance sheet and operations review. This resulted in a highly successful and value adding engagement.  Led a fraudulent disbursement investigation that resulted in criminal and civil prosecution. Developed and implemented a continuous audit program for the Accounts Payable Shared Service Center. Achieved the collection of over $100,000 USD in duplicate payments and various other process improvements leveraging automated software and data analytics using ACL. Identified over $3,000,000 USD in annual savings opportunities by identifying an unfavorable variation in engineering product mix and customer requirements in Mexico. Identified over $500,000 USD in annual savings opportunities related to a travel procurement review. Identified over $500,000 BRL in annual savings related to a contracted services review in Brazil. Used data mining skills to identify over $100,000 EUR in annual savings opportunities by modifying customer billing process.

 Developed and implemented an IT audit plan that resulted in 2007 cost savings in excess of $250,000 USD from prior year Sarbanes Oxley compliance testing (80% reduction).  Developed and managed purchase of services audit that resulted in a recovery of $4,000,000 BRL in tax credits from the Brazilian Government. The recovery was related to an analysis of PIS/COFINS tax credits not taken. Developed and managed a procurement audit that resulted in an immediate savings of $65,000 USD with substantial future recoveries expected as the new strategy is implemented.