Position: Internal Auditor
Reports Directly: Sal Alshuqairi, Internal Audit Manager
Location: Milwaukee, WI
Date: October 15, 2021
Regal Rexnord Corporation (RRX) is approximately a $5B publicly traded global manufacturer of electric motors and controls, electrical components and power transmission products serving customers around the world in the general industrial, consumer, commercial construction, food & beverage, and alternative energy end markets, among others. Regal Rexnord sells its products and solutions to OEMs, through distributors, and directly to end-users. The company has approximately 29,000 global associates with significant operations in the US, Mexico, Europe, China, and India. Regal Rexnord Corporation is the result of a merger between Regal Beloit Corporation and Rexnord’s PMC business which was completed in 2021. The headquarters for Regal Rexnord is located in Beloit, WI with an executive satellite office in Rosemont, IL.
You may not know it, but Regal Rexnord impacts your life every day. Our products enable the fans in HVAC systems that keep us comfortable; the power source that keeps smart buildings running; the agricultural and food service equipment that keeps us fed; and the conveyer systems that keep e-commerce flowing.
Our business purpose is to create a better tomorrow by energy-efficiently converting power into motion. For us, this means creating innovative solutions while focused on both customer needs and our commitment to sustainability. Join our team to create your better tomorrow.
The company is comprised of four operating segments:
· Climate Solutions: (~$1.0 Billion revenues) Includes fractional HP motors, variable speed controls, and air moving solutions which are sold in the residential heating & ventilating, water heating, commercial refrigeration, and other OEM and aftermarkets. Segment headquarters is based in Fort Wayne, IN.
· Commercial Systems: (~$1.0 Billion revenues) Includes medium motors from fractional to 5HP, fans and blowers and Hermetic stator and rotor sets which are sold to commercial heating and ventilating, commercial kitchen and laundry markets. Segment headquarters is in Grafton, WI.
· Industrial Systems: (~$600 Million revenues) Includes large motors, alternators, automatic transfer switches and switchgears which are sold to agricultural, marine, oil and gas, data centers, power generation and general industry equipment markets. Segment headquarters is based in Wausau, WI.
· Motion Control Solutions: (~2.2 Billion revenues) Constitutes products like gearing, bearings, couplings, and conveying components which are sold in a wide variety of markets including mater handling, oil & gas, beverage, and other industrial markets. Segment headquarters is based in Milwaukee, WI.
Our business is organized into four decentralized segments with strong brand equity in its respective markets as outlined below:
Scope of leadership role
Reporting to the Manager of Internal Audit, the Internal Auditor will be responsible for partnering with Internal Audit management team along with Company management while maintaining independence. This is a hands-on role that will actively lead and/or participate in a variety of audits which includes all phases of audit planning, execution and communication of results to management. This role serves as an important member of the Corporate Internal Audit team, contributing to the development of standard frameworks and practices that enable accurate and timely audits.
Individual should be a self-starter with willingness to work in a team environment that encourages personal and professional growth, must maintain high degree of professionalism and objectivity, and demonstrate strong integrity and ethical values. This role will collaborate with a broad network of individuals across the global organization to fulfill the responsibilities of the role.
Opportunity enables development and exposure for future career growth opportunities within the Corporate and/or Business Accounting & Finance organizations within Regal Rexnord.
- · Responsible for performing or assisting on internal audits at all U.S. and foreign business operations.
- · Participate in all phases of the audit: risk assessment, planning, execution and communicating results.
- · Evaluate business processes to identify areas of risk, identify related operational and financial controls, assess efficiency and effectiveness of controls and processes, and assist in developing recommendations for improvements.
- · Develop detailed work programs, design tests of controls, review and analyze data and other supporting evidence, document test work performed, identify and define control and process weaknesses, and communicate audit findings to Internal Audit leadership and assist in preparing and presenting audit reports to management.
- · Perform a variety of financial, operational and compliance audits, with opportunities to work on special projects and work closely with divisional controllers to promote strong effective internal controls throughout the organization.
- · Perform testing of internal controls over financial reporting to assist management in complying with Sarbanes-Oxley Section 404.
- · Collaborate with the company’s external audit firm on various projects and assignments, as needed.
- · Model and demonstrate the use of 80/20, continuous improvement to deliver measurable improvements in processes that align with the Corporate Internal Audit’s organizational strategy.
· Based on previous Audit experience, is able to be self-directed and execute audits within business and finance teams.
· Ability to identify opportunities to simplify processes and enhance value of internal audit for the enterprise.
The successful candidate will have experience in developing collaborative relationships across the organization. This professional must have the passion, energy and intellectual curiosity necessary for a fast-paced, growth-driven environment. Be able to employ forward thinking and have the ability to expeditiously execute audits and projects with a continuous improvement mindset.
· BS in Accounting
· CPA/CMA preferred
Technical Skills and Prior Experience
· One to two years prior experience in a big four audit firm or financial reporting department
· Fundamental understanding of business processes, risks and controls
- Effective written and verbal communication skills
- Good interpersonal and facilitation skills
- Self-motivated, good organization and planning skills
- Ability to work in a team environment
- Working Knowledge with Microsoft Suite
- Strong grasp of key accounting standards
- · Proven ability to be hands on, roll up sleeves and demonstrate resourcefulness, initiative, results-orientation. Has a mindset of continuous improvement and can embrace Regal Rexnord’s 80/20 principles.
· Demonstrated ability to develop strong partnerships and influence resources outside one’s direct responsibility.
· Ability to travel up to 35% domestically and globally.