Director, Internal Audit

Toronto Hydro•Toronto, ON

4d•Hybrid

About The Position

Toronto Hydro is seeking a highly accomplished, strategic leader to serve as Director, Internal Audit. As the organization’s head of Internal Audit, the role is accountable for the function’s overall mandate, performance, and ongoing conformance with the Global Internal Audit Standards. It offers a unique opportunity to further develop a modern internal audit function and deliver meaningful impact at both the executive and Board levels within a complex, regulated utility environment. Reporting functionally to the Audit Committee of the Board and administratively to the EVP & Chief Financial Officer, the Director, Internal Audit provides independent, objective assurance and insight on governance, risk management, and internal controls, with direct access to the Audit Committee and regular engagement with its members. You will lead a high-performing function that delivers risk-based assurance, forward-looking insights, and practical advisory perspectives, while maintaining strict independence and objectivity. Operating at the center of organizational governance, you will contribute to enterprise risk perspectives, strengthening oversight, and supporting informed decision-making across Toronto Hydro. This is a compelling opportunity to continue evolving the Internal Audit function, with a focus on strengthening risk-based assurance, enhancing insight through data analytics, and improving overall effectiveness. This posting is for an existing vacancy.

Requirements

Undergraduate degree in Business, Finance, or a related field; graduate degree considered an asset
Chartered Professional Accountant (CPA) designation (required); Certified Internal Auditor (CIA) strongly preferred; CISA or other relevant certifications considered an asset
Minimum 10 years of progressive internal audit experience across financial, operational, and IT domains
Minimum 5 years in a senior leadership role, with experience leading audit functions and complex portfolios
Demonstrated experience engaging with Audit Committees and/or Boards, including presenting at the executive and Board level
Experience operating in regulated, infrastructure, or capital-intensive environments strongly preferred
Proven ability to develop and execute audit strategies aligned with enterprise risk and business priorities
Deep knowledge of internal audit frameworks and control environments (e.g., COSO, COBIT) and the Global Internal Audit Standards
Experience establishing or leading a QAIP, including external assessments
Strong understanding of ICFR and enterprise governance frameworks
Knowledge of IT systems, cybersecurity, and data analytics within an audit context
Exceptional stakeholder management skills, with the ability to influence at the executive and Board level
Excellent written and verbal communication skills, with a track record of delivering clear, impactful executive reporting
Strong analytical, problem-solving, and judgment capabilities
Demonstrated commitment to integrity, objectivity, and professional ethics

Nice To Haves

Graduate degree
Certified Internal Auditor (CIA) designation
CISA or other relevant certifications
Experience operating in regulated, infrastructure, or capital-intensive environments

Responsibilities

Develop and execute a risk-based internal audit strategy and annual plan, aligned with enterprise priorities and approved by the Audit Committee.
Provide independent, objective assurance on governance, risk management, and internal controls across financial, operational, and IT domains, including fraud risk.
Deliver clear, concise, insightful reporting to Executive Leadership and the Audit Committee, highlighting systemic themes, emerging risks, and overall control effectiveness.
Act as a trusted advisor to senior leadership, providing perspectives on key business initiatives, transformation programs, and emerging risks – while maintaining independence.
Contribute to enterprise-wide risk discussions, offering insights that inform strategy, resilience, and long-term performance.
Oversee the execution of internal audits across all phases (planning, risk assessment, fieldwork, reporting, and follow-up), ensuring quality, consistency, and impact.
Monitor and report on the status of management’s remediation efforts, ensuring timely and sustainable resolution of audit findings.
Maintain and periodically review the Internal Audit Charter, ensuring continued clarity of mandate, authority, and independence, with Audit Committee approval.
Implement and oversee a Quality Assurance and Improvement Program (QAIP), including ongoing monitoring and periodic external assessments.
Oversee the Internal Controls over Financial Reporting (ICFR) program, including design oversight, testing strategy, and reporting, ensuring alignment with regulatory requirements and integration with the broader internal audit and assurance framework.
Provide independent assurance over ESG and other non-financial reporting processes, including data governance, controls, and alignment with evolving regulatory and disclosure requirements.
Advance the function through data analytics, automation, and continuous auditing techniques, improving insight generation and efficiency.
Coordinate with other assurance providers (e.g., Enterprise Risk Management, Compliance, External Audit) to deliver integrated assurance and minimize duplication.
Build and lead a high-performing Internal Audit team, fostering a culture of accountability, continuous improvement, and professional development.
Strengthen relationships with Executive Leadership, the Audit Committee, and external auditors to promote transparency, alignment, and trust.
Ensure and demonstrate ongoing conformance with the Global Internal Audit Standards and the Institute of Internal Auditors’ Code of Ethics, including maintaining appropriate methodologies, governance practices, and documentation, and supporting periodic internal and external quality assessments.