Vice President, Internal Audit

ABOUT MERIT MEDICAL Founded in 1987, Merit Medical set out to build the world’s most customer-focused healthcare company by understanding customer’s needs and innovating to deliver a diverse range of products that improve the lives of people, families and communities throughout the world.

Today, Merit Medical has become a leading manufacturer and marketer of proprietary disposable medical devices used in interventional, diagnostic and therapeutic procedures, particularly within the fields of cardiology, radiology, oncology, critical care and endoscopy.

In 2024, Merit Medical delivered $1.357B in net sales through the support of a global team of over 7000 employees. A diverse and global company, Merit Medical is headquartered in South Jordan, Utah, a suburb of Salt Lake City with distribution, customer service, manufacturing, and research & development facilities in over 20 countries and five US states.

ABOUT SILVESTER & COMPANY Silvester & Company is a boutique executive search firm providing leadership search consulting and services across the global manufacturing and technology sectors since 1994. Our firm is retained by Merit Medical to conduct this search.

THE POSITION The VP, Internal Audit will report directly to the Executive Board’s Audit Committee and to the Chief Financial Officer.

The role will have a direct report team that will include a Director, Internal Audit with a total organization of approximately 12 professionals.

DUTIES & RESPONSIBILITIES

Audit Program Development: Create audit timelines and deliverables, in line with the annual audit plan, that will assess the design and operating effectiveness of controls.
Audit Program Execution: Perform financial audits to assess compliance with accounting, financial reporting and regulatory guidelines; administers the company’s Ethics Hotline.
Control Evaluation: Identify and evaluate key controls, perform testing for effectiveness, document results and develop as necessary corrective actions to mitigate risks and enhance operational effectiveness.
Data Analysis: Analyze data sets to identify anomalies and trends for continuous auditing.
Reporting: Write detailed reports to management, communicating audit results and recommending action plans.
Subject Matter Resource: Provide audit and liaison assistance to independent auditors in the performance of their external audits of financial statements; leads the creation of Audit Committee meeting materials and responds to Audit Committee requests.
Exceptional Judgement and Discernment: Demonstrated ability to make sound decisions and provide insightful recommendations based on thorough analysis and evaluation of complex situations. The ideal candidate will possess a keen sense of discernment, enabling them to identify potential risks and opportunities, and to navigate ambiguous or uncertain environments with confidence and clarity.
Relationship Management: Establish and maintain effective working relationships with leadership across the Company, enhancing their understanding of operating and risk environments.
Process Improvement: Identify and implement opportunities to drive efficiency and effectiveness in audit processes – explore and identify opportunities to use technology to improve the effectiveness of the audit function.
Team Management and Development: Manage, develop, train and mentor colleagues, assessing performance on audit engagements and working to continuously improve team and employee engagement.
Industry and Functional Engagement: Stay updated on industry trends and regulatory changes.

MINIMUM QUALIFICATIONS

Education: Bachelors Degree in Accounting, Finance or related field is required.
Experience: Ideally 5 years of experience in public accounting and/or auditing leadership roles is required.
Risk Knowledge: Proficient understanding of risks and controls in both publicly traded and global MNC environments, is required.
Leadership & Management Effectiveness: Proven experience leading high performing and highly engaged teams, is required.
Integrity and Objectivity: Professional integrity of the highest order with a demonstrated commitment to transparent communications; proven ability to exercise sound judgment, is required.
Commitment to Excellence: Strong project management and organizational skills; proven ability to complete projects and tasks in a timely manner with a high level of attention to detail; proven track record of leading audits and providing actional recommendations to stakeholders, is required.
Communication Skills: Excellent written and verbal communication skills, with ability to present complex technical issues effectively to executive management, is required.
Agility and Adaptability: Ability to thrive in a fast-paced environment while managing multiple priorities, is required.
Team Player: Demonstrated ability to work effectively with peers, executive leadership and the Board of Directors is required.
Credentials: One or more MBA, CPA, CIA or CMA certifications is highly desirable.