Head of Internal Audit

Incyte is a biopharmaceutical company focused on the discovery, development, and commercialization of novel medicines to meet serious unmet medical needs in oncology and inflammation and autoimmunity. Incyte is committed to the rigorous pursuit of research and development excellence to improve the lives of patients, make a difference in health care, and build sustainable value.

The Company strives to discover and develop first-in-class and best-in-class medicines-advancing a diverse portfolio of large and small molecules.

Job Summary (Primary function)
The Internal Audit Function (the “Function”) helps Incyte achieve its business objectives by bringing a systemic and disciplined approach to evaluating the effectiveness of the Company’s governance, risk management, compliance and control (GRC) practices. The Head of Internal Audit will have primary responsibility for carrying out the mission of the Function to enhance and protect organizational value and help improve Incyte’s business operations by providing risk-based, independent, and objective assurance, advice and insight. The individual in this role will report administratively to the Executive Vice President, Chief Financial Officer (CFO) and will be responsible for establishing, implementing and leading a team of internal and co-sourced professional staff.

The position requires relevant experience in the Bio-Pharmaceutical or Life Sciences Industry and ideally a mix of public accounting/internal audit and non-audit/in-house operational experience, including sound information technology and financial and operational control knowledge. The role also requires strong leadership skills, an independent and objective mindset, sound business acumen as well as the ability to recruit, develop and lead a high performing professional team.

Essential Functions of the Job (Key responsibilities)

• Identify risk exposures which may impact achievement of the Company’s objectives.
• Develop a risk-based audit plan addressing key business practices, financial processes and controls, operational areas and information technology and related security activities, and submit it to senior management for discussion, input and feedback and subsequently to the Audit Committee for review and approval.
• Adjust the audit plan, as necessary, in response to changes in the business environment and discuss such proposed changes with senior management and the Audit Committee.
• Execute the annual audit plan of approximately 10 +/- domestic US and International audits and track audit findings through to remediation.
  • Assess adequacy and effectiveness of governance and risk management processes.
  • Evaluate design and operating effectiveness of processes and controls pertaining to:
    • Reliability and integrity of financial and operational reporting.
    • Compliance with laws, regulations, policies, procedures, and contracts.
    • Effectiveness and efficiency of business operations, projects and programs.
    • Reliability and security of information systems and data.
    • Safeguarding of assets.
  • Develop and direct the conduct of audits of several key 3rd parties (e.g., vendors, collaborations, etc.).
• Coordinate ICFR testing plans with the Corporate Controller’s and Information Technology function and external auditors (EY). Execute testing in a timely, high quality and cost-effective manner enabling the highest level of reliance permissible by regulations/EY in order to minimize redundancy and external audit fees.
• Coordinate risk assessment and audit/monitoring coverages with key second line assurance functions, such as Corporate Compliance, SOX PMO, GxP, etc.
• Participate and provide advice and input into the company’s ERM program and annual risk assessment and reporting process.
• Assist, as needed and requested by Global Compliance, in investigations of suspected non-compliance, improprieties, or fraud.
• Other assurance or advisory engagements as requested and appropriate.
• Review, at least bi-annually, the Charter of the Function with the Audit Committee to determine whether any changes to the Function’s mission, responsibilities, or authority are necessary.
• Develop annual budget and resource plan to complete the audit plan and fulfill the Function’s responsibilities.
• Periodically communicate performance against the audit plan to senior management and the Audit Committee.
• Communicate results of engagement and other activities, including any significant risk exposures and control issues, fraud risks, governance issues and other matters requiring attention to senior management and the Audit Committee.
• Conduct appropriate follow-up on corrective action plans and periodically report to senior management and the Audit Committee on plans not effectively implemented.
• Establish, implement and proactively maintain an appropriate organizational structure with respect to number, level, staffing structure (mix of internal/external resources) and competencies, as well as effectively develop staff and succession plans across all levels.
• Maintain a Quality Assurance & Improvement Program (QAIP) that covers all aspects of the Function’s activities.

Qualifications (Minimal acceptable level of education, work experience, and competency)

• BA/BS in Accounting or Finance.
• MBA or other relevant advanced degree strongly preferred.
• 15+ years of diversified (i.e., audit and non-audit) experience required, including a minimum 8 years of public accounting and/or internal audit experience and 5 years of relevant industry experience.
• Certified Public Accountant or Certified Internal Auditor required.
• Demonstrated willingness to roll up sleeves to and do the work vs. manage, while building out the Function.
• Ability to interact collaboratively, yet objectively with senior/executive level management and Board of Director members.
• Ability to prioritize and direct limited resources to the most critical areas and issues.
• Ability to build solid, collaborative working relationships with auditees, across all functions.
• Proven ability to recruit, lead, motivate and develop talent.
• Strong operational capability and sense of urgency to drive completion of audit plan and achievement of annual departmental initiatives.
• Working knowledge of major business processes and compliance/risk issues related to the bio-pharmaceutical industry.
• Solid understanding of U.S. GAAP, PCAOB and IIA Standards for the Professional Practice of Internal Auditing.
• Strong technical internal audit skills, including IT audit and knowledge of Sarbanes-Oxley Section 404 and related financial control requirements.
• Solid knowledge of governance, risk management and compliance program frameworks.
• Ability to quickly assimilate relevant information in unfamiliar situations, identify issues and root causes.
• Excellent listening, verbal, written and presentation communication skills.
• Strong influencing and negotiation skills.
• Passion to continuously help improve operations and enhance/preserve shareholder value.
• Sound judgment and ability to act independently.
• High personal standards and professional ethics with a commitment to excellence.
• Willing to be hands-on while building and implementing the function, with ability to manage and delegate as the function grows over time.

Disclaimer: The above statements are intended to describe the general nature and level of work performed by employees assigned to this job. They are not intended to be an exhaustive list of all duties, responsibilities, and qualifications. Management reserves the right to change or modify such duties as required.

Incyte Corporation is committed to creating a diverse environment and is proud to be an equal opportunity employer.