As the Chief Audit Officer, you will play a crucial role in safeguarding the integrity of our organization and enhancing its operational efficiency. As a key member of our leadership team, you will establish and oversee all internal audit activities for this new corporation, including risk assessment, internal controls, and compliance with regulatory standards. Your expertise will drive strategic decision-making, providing valuable insights to enhance our financial processes and safeguard our assets. The Chief Audit Officer reports to the Board of Directors through the Audit Committee and administratively to the CEO.
About the Corporation
The Texas Permanent School Fund (PSF) was created by Texas’ first Constitution in 1845 as a perpetual fund to support the state’s public schools and was seeded with $2 million in 1854. Since that time, the PSF has grown to comprise more than $52 billion in assets and will distribute nearly $2.2 billion annually to Texas K-12 schools.
Key Responsibilities Include the Following
Develop and implement initial standup of a focused internal audit strategy in alignment with Texas PSF's business objectives.
Conduct comprehensive audit examinations as laid out in the plan or as may be directed by management or the Board of Directors.
Present detailed audit reports to the Senior Leadership Team and the Audit Committee, conveying findings, recommendations, and action plans clearly.
Lead in internal audit team selection and mentoring, promoting continuous improvement and professional development.
Monitor and comply with evolving regulatory requirements for auditing and financial reporting to ensure corporate adherence to laws, regulations, and industry standards.
Graduation from an accredited four-year college or university with major course work in accounting, finance, business administration, computer or management information systems, or a related field.
Eight (8) years relevant experience including five (5) years managerial experience within the financial services industry.
Certified Public Accountant (CPA) or Certified Internal Auditor (CIA).
Post-graduate degree from an accredited college or university with major course work in accounting, finance, business administration, computer or management information systems, or a related field.
Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA). Desire to obtain these credentials if not currently in place.
Strong knowledge of internal control frameworks, risk assessment methodologies, and audit standards, including standards for the Professional Practice of the Institute of Internal Auditing (IIA), Generally Accepted Auditing Standards (GAAS), GASB accounting and reporting standards, and Statement of Auditing Standards (AICPA).
Knowledge of the Committee of Sponsoring Organizations (COSO) Internal Control Integrated Framework.
Knowledge of the Control Objectives for Information and Related Technologies (COBIT) governance framework.
Excellent leadership, verbal and written communication, and interpersonal skills.
Stamina and tact to interact professionally with members of the Board of Directors and Board subcommittees, as well as any other internal and external stakeholders.
Demonstrated ability to manage and lead a team of audit professionals effectively.
In-depth understanding of financial markets, investment products, and related regulatory requirements.
Strategic thinker with a passion for ensuring organizational integrity with a track record of driving impactful audit initiatives.
State-paid health and life insurance plans.
Optional benefits, such as dental, vision, short- and long-term disability insurance, 401K and 457 plans and much more.
A retirement plan.
Paid holidays, annual leave, and sick leave.
How to Apply
This is an excellent opportunity to make a significant impact in the education sector by ensuring the responsible management of funds dedicated to supporting Texas schools. If you are a motivated and detail-oriented professional with a passion for financial integrity, we encourage you to apply for this position.
Please submit your cover letter and resume detailing your qualifications and how you can contribute to our team’s success. Send your application to PSFHR@texaspsf.org
The Texas Permanent School Fund is proud to be an equal opportunity workplace. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity.
We are a special-purpose governmental corporation charged with prudently managing and investing the assets of the Texas Permanent School Fund. We strive to achieve exceptional investment performance to protect and grow the historic public endowment and sovereign wealth fund of Texas, generating essential resources for current and future Texas schoolchildren.
As the nation’s oldest sovereign wealth fund, Texas PSF supports public education in two important ways: First, the investment portfolio we manage generates returns which help fund a portion of educational expenses, including textbooks and technology. Since 1969, the fund has generated nearly $39 billion dollars to help fund public education.
Second, through the Bond Guarantee Program, independent school districts and charter districts use the Fund’s AAA credit rating schools to lower interest rates on their debt guaranteed by the Fund, allowing more money to go toward school improvements instead of interest, and saving Texas taxpayers hundreds of millions of dollars each year.