Chief Audit Officer

Metra•Chicago, IL

About The Position

The Chief Audit Officer (CAO) establishes and manages Metra’s audit function and provides strategic direction and leadership to the Audit Department. Reporting to the Executive Director/CEO, the CAO leads the department’s daily operations and programs, ensuring appropriate internal controls, compliance with agency policies and governmental requirements, and ethical, transparent operations consistent with corporate governance standards. The CAO provides the Board of Directors with independent appraisals of Metra’s operations, controls, and compliance, and reports significant audit results, risks, control issues, and compliance activities to the Board and executive leadership. The role oversees internal audits and advisory activities, risk-based audit planning, internal control and risk management programs, compliance risk assessments, investigations, and corrective action plans. The CAO manages staff, supports professional development, and makes or recommends staffing and performance-related decisions. The position also serves as Metra’s primary liaison with governmental agencies, external auditors, consultants, and other stakeholders. The CAO must maintain independence, confidentiality, objectivity, integrity, and sound professional judgment. Metra is a commuter rail agency serving six Northeastern Illinois counties. This position is subject to a statutory “Revolving Door” restriction that may limit certain post-employment activity for one year after separation. Metra is a railroad employer covered by the Railroad Retirement Tax Act, not Social Security. The role may require an enhanced background check and compliance with Metra’s stated marijuana prohibition for pre-employment screening and specified work-related circumstances.

Requirements

Bachelor’s degree in business administration, auditing, accounting, finance, or a related field; alternatively, a combination of education and experience totaling four years in accounting, finance, and project management.
At least 15 years of progressively responsible experience in auditing, financial or operational analysis, or accounting, preferably in the railroad, transportation, or a related industry.
At least 10 years of progressively responsible supervisory or management experience.
Comprehensive knowledge of internal auditing and accounting principles, risk management and internal control practices, the Institute of Internal Auditors (IIA) Global Internal Audit Standards, and the COSO Internal Control Framework.
Working knowledge of federal, state, and local laws and requirements applicable to public-sector organizations, including FTA, USDOT, IDOT, public safety, procurement and contracting, human resources, public funding, grants administration, and financial management.
Knowledge of governmental accounting, financial reporting, budgeting, grants management, public-sector financial controls, and corporate governance principles.
Strong written, verbal, interpersonal, and relationship-management skills, including the ability to explain complex issues clearly, influence decisions, and build partnerships with board members, executives, regulators, and other stakeholders.
Strong leadership and management skills and the ability to direct audit, compliance, and risk management activities in accordance with professional standards, laws, regulations, policies, and organizational objectives.
Ability to develop, implement, and oversee audit programs, compliance initiatives, risk assessments, reports, presentations, and related communications.
Ability to demonstrate integrity, confidentiality, independence, objectivity, professional skepticism, and sound judgment.
Ability to analyze complex issues, identify risks and control deficiencies, develop practical recommendations, and drive corrective actions and continuous improvement.
Ability to manage multiple priorities, lead cross-functional initiatives, and perform effectively in a complex, highly visible, high-accountability environment.
Ability to stand, walk, and/or sit for extended periods.
Ability to lift and move up to 20 pounds.
Must be able to operate a vehicle.
Must be willing to travel within and outside Metra’s six-county region.
Must be available to work flexible hours, including early mornings, late afternoons, evenings, or weekends.

Nice To Haves

Experience leading audits or advisory engagements across multiple functional areas, such as finance, operations, information technology, procurement, human resources, capital programs, safety, and regulatory compliance.
Master’s degree in a related field.
Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), Chartered Accountant, or another related certification.

Responsibilities

Lead and oversee the internal audit function, including audits and advisory activities that identify financial irregularities, operational inefficiencies, control deficiencies, compliance issues, safety concerns, and other organizational risks.
Mentor staff and support professional development in auditing standards and practices.
Develop and administer the annual risk-based audit plan, including internal control reviews, program evaluations, and business process assessments.
Establish and maintain internal control and risk management programs, departmental objectives, policies, procedures, and initiatives, including the Compliance Counts program; ensure changes are implemented and communicated effectively.
Oversee compliance risk assessments and investigations of reported or suspected violations, and develop corrective action plans.
Provide guidance on preventive and remedial measures to mitigate risk.
Report audit results, significant risks, control issues, and compliance activities to the Board of Directors and executive leadership.
Serve as the primary liaison with governmental agencies, external auditors, consultants, and other stakeholders.
Approve time off, coordinate staff schedules, fill vacancies as necessary, and ensure compliance with departmental and company policies and objectives.
Make and implement staffing decisions, performance evaluations, and performance improvement, disciplinary, or termination procedures; make recommendations regarding hiring and related personnel actions.
Promote safe work practices and maintain and foster a safe work environment.
Develop and implement a Code of Conduct for the Audit Department to foster ethics, diligence, and appropriate behavior.
Perform other related duties as assigned to meet the ongoing needs of the organization.