Audit Director, Professional Practices
Paysafe (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading payments platform with an extensive track record of serving merchants and consumers in the global entertainment sectors. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of over $130 billion in 2022, and approximately 3,300 employees located in 12+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
The Audit Director for Professional Practices contributes to the value of the Group Internal Audit function by being responsible for the audit methodology and tools, and driving for continued improvement in the quality and value of our work. The role holder is responsible for our audit products (report templates) and our reporting to the Board. Further, the role holder is responsible for independently assessing the quality of the work delivered by the audit function to support the Board with their annual assessment of the effectiveness of Paysafe Internal Audit. Additional responsibilities include identifying ways to increase team efficiency through the use of the Auditboard tool to automate ways of working, and supporting the Chief Audit Officer (CAO) in determining the optimum approach for use of co-source.
Group Internal Audit Mission
To protect and grow Paysafe’s value by providing objective, risk-based assurance and insight to the business, enabling it to drive ongoing improvement in governance, risk management and controls
Group Internal Audit Vision
Being an independent, business-focused, function of the highest integrity, that adopts a compliant, collaborative, respectful approach to its work, and is recognised as a critical contributor to a robust, resilient and successful Paysafe through effectively achieving the Audit Mission.
• Taking responsibility for the audit manual and associated templates, and driving for continued improvement in the quality, content and value provided by our outputs.
• Taking the lead for the annual planning process to determine appropriate assumptions to formulate a stretching, risk-based plan for each year. Monitoring the cycle of coverage across the audit universe and completing an annual assessment of skills to determine where either targeted hires or specialist co-source support may be required.
• Leading a programme of Quality Assurance that both delivers regular independent spot checks on the quality of the work documented by Internal Audit, as well as considering ways to build automation to improve file quality. Reporting at least annually to the Board on the outcomes of quality assurance checks within the function.
• Leading on the annual review of the Internal Audit Charter, comparing against peer examples and industry benchmarks to ensure all aspects of the IIA Standards and Code are fulfilled.
• Developing enhanced metrics for reporting team efficiency and effectiveness and leveraging the existing MI to internally track progress, or developing further MI where necessary.
• Supporting the team in implementing ways of working changes and methodology updates to ensure the team is efficient, value-adding, and impactful.
• Liaising with other Paysafe assurance teams to identify where efficiencies can be obtained, for example in linking the audit plan more closely to the Group Risk Framework and considering integrated/combined assurance opportunities.
• Managing the relationships with third party co-source providers to monitor use of the IA team budget and escalate any budgetary concerns promptly.
• Being responsible for team training where it relates to best practices for audit documentation and working practices, and staying current with industry benchmarks for Internal Audit.
• Having oversight of the programme of transformation/innovation for the function which will be a multi-year programme under a revised vision & strategy.
• Providing tools and data expertise to support creation of IA Key Performance Indicator (KPI) reports and successful implementation of solutions to address IA performance gaps.
• Speaks with authority on Paysafe’s key policies, practices and procedures
• Assesses and fosters the ethical climate of senior management
• Discusses ethical conflicts with Paysafe senior management
Internal Audit Management
• Articulates clear expectations and business goals and links these to Paysafe’s strategy
• Provides opportunities and proactive input in the development and career needs of others
• Manages relationship with third party audit firms when working under co-sourcing model to ensure audit objectives are covered in accordance with the audit plan and budget
Professional Internal Audit Standard (IIA/ISACA)
• Monitors the effective implementation of the IIA/ISACA professional audit standards
• Monitors the Internal Audit quality assurance and improvement program to ensure it meet objectives as defined in the Internal Audit Charter, and takes proactive action to address variances, where these arise
Governance, Risk and Control
• Educates senior management on best practices in governance, risk and control
• Contributes to the development of risk-oriented culture within Paysafe
• Has substantial knowledge of industry-specific expertise, trends, risks and strategy
• Communicates effectively with different internal and external stakeholders to articulate Internal Audit requirements, and assess suitability of identified tool/data solutions
• Adept at effecting change to IA practices and overcoming resistance to change within the IA team/other affected stakeholders, with minimal support from CAO
• Utilises benchmark research to support decisions and key messages
Internal Audit Delivery
• Balances Internal Audit quality and compliance standards, resource constraints and stakeholder demands, to drive on-time audit delivery
Improvement and Innovation
• Researches new tools and concepts and translates these into solutions that successfully enhance the value of the IA function in the business
• Trains IA/other staff in the use of new tools, and develops ‘Train the Trainer’ materials
• Champions change, continuous improvement and innovation and supports others in the pursuit of these
• Implements change programs across the Internal Audit function/team
• Identify potential audit engagement issues and suggest any necessary adjustments
• Strong academic record, including bachelor or higher degree equivalent
• Industry-recognised audit or accounting certification
• 10+ years’ experience in a senior role in internal audit, working within a global function
• 3-5 years’ experience leading the methodology/ frameworks and reporting for an internal audit function
• Self-driven agile thinker, problem solving approach, ability to propose and implement pragmatic solutions, taking account of audit resource constraints
• Excellent project/programme management capability to oversee multiple workstreams to achieve required change within the IA function to set deadlines
• Significant experience of delivering automated solutions to meet stakeholder needs, and working with integrated audit platforms and data analytics/visualisation tools
• Experience of performing External Quality Assurance (EQA) reviews for internal audit functions.
• 5+ years’ experience in Financial Services sector
• Strong knowledge of SOX control frameworks, including COSO and/or COBIT
• Motivated by the challenge of researching new tools, and concepts, and translating these into solutions that successfully enhance the value of the IA function in the business
Equal Employment Opportunity
Paysafe is an equal opportunity employer. We value diversity and are committed to providing a work environment of mutual respect to everyone without regard to race, color, religion, national origin, age, gender identity or expression, or any other characteristic protected by applicable laws, regulations and ordinances.