Lynn M. Ruel
St Louis,MO
Summary
Results-driven Internal Audit and Risk Control professional with over 20 years of experience as an Internal Audit Director, specializing in enhancing organizational integrity and operational efficiency. Recognized for a strong commitment to ethical practices and professionalism, consistently delivering comprehensive risk assessments and strategic audit solutions. Proven ability to collaborate effectively across departments, fostering a culture of transparency and accountability. Expertise in identifying vulnerabilities and implementing robust controls that drive continuous improvement and safeguard organizational assets.
Overview
1
1
Certification
37
37
years of professional experience
Work History
Issue Manager, Mortgage Servicing
CITI
O'Fallon, MO
08.2021 - Current
- Collaborate with business units in overseeing the remediation of mortgage servicing issues identified by Internal Audit, Regulators, Compliance testing, Citi's third-party servicer or internal business units.
- Create project plans with milestones and target dates for enhancing/implementing controls and control tests; performing look back analyses for impact to customers or clients; remediation to impacted customers/clients as necessary, particularly when financial remediation was required.
- Analyze all documents submitted internally or by third-party servicer in support of milestone completions to ensure completeness and accuracy of work performed including complex spreadsheets, control testing procedures, logic supporting control testing, control testing results and new or edited procedures.
- Develop Power Point presentations detailing the work performed for each milestone and the evidence supporting completion.
- Coordinate and lead meetings with Citi's Compliance, Risk, Internal Audit and other departments as needed.
Business Controls Manager
CENLAR FSB
04.2020 - 08.2021
- Managed the Risk and Control process for the company’s Complaint department, overseeing the resolution of complaints related to non-compliance with regulatory requirements, policies and procedures, or client contractual agreements. Continually assessed risk exposure from changing regulatory, financial, and/or operational requirements; developed or enhanced processes, with a focus on preventive and automated controls to mitigate risks.
- Prepared detailed process flows, identifying both operational and compliance risks throughout processes and existing or required controls to enhance risk avoidance or mitigation.
- Led the business unit in developing viable Management Action Plans (MAPs) to address issues identified by Compliance, Internal Audit, Regulators, clients, or business units.
- Oversaw the implementation of MAPs to ensure remediation timeliness, completeness and accuracy via project management and audit testing skills.
- Drove the department’s increased control effectiveness through automation and/or process re-engineering. Control Effectiveness rate when hired in Q2 2020 was 47%; Current rate is 70% with projected rate of 82% by end of Q3 2021.
- Performed continuous testing of current internal controls, leading efforts to enhance weak controls and self-identify ineffective controls.
Financial Compliance Manager
EXPRESS-SCRIPTS (CIGNA)
10.2019 - 01.2020
- Worked with several departments (i.e., Accounts Payable, Accounting, IT, Billing) to flowchart and document new business processes, identify financial risk points, and develop controls to mitigate risk.
- Liaison between internal/external auditors and department personnel to remediate audit exceptions and, where necessary, recommend process improvements to enhance controls.
Director of Financial Reporting and Internal Controls
COMPASS HEALTH NETWORK
08.2018 - 10.2019
- Implemented an internal controls framework to assess, monitor and improve compliance with internal policies and procedures, grant funding, federal and state funding sources, and other regulatory requirements.
- Developed procedures to ensure consistency of operations and strengthen the internal control structure in the accounting, payroll, and human resource areas.
- Developed process maps for various accounting and payroll functions to identify risk areas, existing mitigating controls, and control gaps.
- Final review of 100+ balance sheet reconciliations each month, including analytical reviews of select balance sheet and income statement accounts. Implemented a more streamlined process for the review of analytics.
- Implemented the BI360 Reporting Module to increase the efficiency of report preparation and produce reports that better aligned with management’s needs.
- Streamlined the annual excel based budget process for the parent company and its subsidiaries utilizing the budgeting tools within BI360.
- Reviewed the monthly financial statements of Company’s seven subsidiaries and prepared the parent company’s income statement, balance statement and statement of cash flows.
Consultant – San Antonio, TX and Springfield, MO
SELF-EMPLOYED
San Antonio, Springfield, TX, MO
03.2017 - 04.2018
- Performed internal audit services for several companies via my connections through the San Antonio Chapter of the Institute of Internal Auditors while I determined whether to return to St. Louis:
- Assisted a large national financial institution in developing a Quality Assurance and Improvement Program in accordance with the IIA Standards.
- Assisted another major financial institution in conducting audit fieldwork assessing compliance with federal lending regulations.
- Provided operational audit services to clients of a small CPA firm in Springfield, MO:
- Employed fraud auditing techniques to investigate suspicion of misappropriation of company funds by a partner, recommending process improvements to introduce segregation of duties within the accounting function.
- Provided merchandise inventory consulting services to a small retail store, including use of their sales application to record, reconcile and adjust inventory, sales, and other related financial accounts.
Director Internal Audit – North America
ISS FACILITY SERVICES
11.2012 - 02.2017
- Implemented the Internal Audit function for the North American division of a Global facility management company based in Copenhagen, Denmark with $700M gross revenue and 18K employees in the US.
- Developed accounting policies and procedures to bring consistency amongst the US regional offices and ensure compliance with US GAAP. Efforts focused on payroll, procurement, accounting, and treasury operations.
- Audited and monitored compliance with financial, contractual, and regulatory requirements, working with Senior and Executive Management to develop improved procedures, employee training, and on-going managerial monitoring.
- Participated in the New Contract Transition Team as the Risk Manager to ensure appropriate procedures were in place to meet customer contract and regulatory requirements for Day 1 implementations and on-going client service.
- Worked with IT on new implementations to ensure appropriate controls were imbedded, including a new time-keeping system to incorporate controls to enhance regulatory compliance and management oversight.
Manager, Financial and Operational Audits
NUSTAR ENERGY
10.2009 - 11.2012
- Worked with external audit team to develop the Sarbanes-Oxley program, as NuStar Energy spun off from Valero Energy Company.
- Directed the bi-annual Sarbanes-Oxley self-testing by process owners and re-testing by Internal Audit staff. Teamed with the external auditors during SOX compliance and financial audit testing.
- Led the implementation of computerized audit software and performed ongoing administration of the software. Developed audit procedures to incorporate use of the new system and trained internal audit staff.
- Developed a Quality Assurance program to improve the quality and consistency of work paper and report preparation to meet the requirements of the Institute of Internal Auditors Professional Practices Framework.
Director, Internal Audit
SWBC FINANCIAL SERVICES
01.2008 - 10.2009
- Implemented the first Internal Audit department for a private Financial Services company that included mortgage lending, investments, personal and commercial insurance, and employee benefits.
- Identified and documented Key Internal Controls over financial accounting and reporting through the performance of process walk-throughs to ensure compliance with GAAP.
- Participated in the IT Steering Committee to ensure new systems addressed required internal control functionality.
- Coordinated all external financial and regulatory audits.
Internal Audit Manager – Refinery and Logistics Operations
VALERO ENERGY
01.2001 - 12.2007
- Worked with the Mergers & Acquisitions and IT departments to perform due diligence on refinery acquisitions.
- Coordinated with external auditors and business unit managers to identify and document critical controls over financial reporting in preparation for the Sarbanes-Oxley go-live. Developed quarterly self-assessments; oversaw and participated in independent testing of the final control framework.
- Assisted in the implementation of a corporate-wide governance, risk and control system.
Senior Auditor/Internal Audit Director
NORTHEAST INDEPENDENT SCHOOL DISTRICT
01.1993 - 01.2000
Internal Auditor
ST. LOUIS UNIVERSITY AND HOSPITAL
01.1993 - 01.1993
Staff Auditor
ST. JOHN, MERSMANN AND COMPANY, LLC
01.1989 - 01.1991
Education
BSBA - Accounting, Minor in Management
Maryville University
St. Louis, MOSkills
- Compliance (Financial, Regulatory, Policies)
- Risk Assessment
- Process Mapping & Walkthroughs
- Coaching, Mentoring and Training
- Business Partner Collaboration
- Time management
- Verbal and written communication
- Complex Problem-solving
- Documentation and reporting
- Cross-functional teamwork
Certification
- Licensed C.P.A. - Missouri (Retired 9/25)
- Certified Internal Auditor (Retired 9/24)
- Certified Fraud Examiner (expired 2018)
- Certified Information Systems Auditor (expired 2016)
Languages
English
Native or Bilingual
Timeline
Issue Manager, Mortgage Servicing
CITI
08.2021 - Current
Business Controls Manager
CENLAR FSB
04.2020 - 08.2021
Financial Compliance Manager
EXPRESS-SCRIPTS (CIGNA)
10.2019 - 01.2020
Director of Financial Reporting and Internal Controls
COMPASS HEALTH NETWORK
08.2018 - 10.2019
Consultant – San Antonio, TX and Springfield, MO
SELF-EMPLOYED
03.2017 - 04.2018
Director Internal Audit – North America
ISS FACILITY SERVICES
11.2012 - 02.2017
Manager, Financial and Operational Audits
NUSTAR ENERGY
10.2009 - 11.2012
Director, Internal Audit
SWBC FINANCIAL SERVICES
01.2008 - 10.2009
Internal Audit Manager – Refinery and Logistics Operations
VALERO ENERGY
01.2001 - 12.2007
Senior Auditor/Internal Audit Director
NORTHEAST INDEPENDENT SCHOOL DISTRICT
01.1993 - 01.2000
Internal Auditor
ST. LOUIS UNIVERSITY AND HOSPITAL
01.1993 - 01.1993
Staff Auditor
ST. JOHN, MERSMANN AND COMPANY, LLC
01.1989 - 01.1991
BSBA - Accounting, Minor in Management
Maryville University