Michael O'Bree brings leadership to his new role
The Audit Committee of the Board of Governors has approved a recommendation by Concordia President Frederick Lowy to appoint Michael O’Bree as Director, Internal Audit.
“Michael possesses the leadership, expertise and professionalism required to carry out his important role. He brings not only a wealth of experience in the areas of risk management and internal audit, but a solid understanding of Concordia and our needs,” says Lowy. O’Bree assumed the role June 1, 2011.
O’Bree was hired as an independent consultant by Concordia in late December 2010 to review existing processes, practices and policies; make recommendations to strengthen the internal audit department’s infrastructure; and establish a transition leadership role for the department. During that time, “he worked closely with the senior administration and internal audit staff, demonstrating the ability to successfully execute the responsibilities required,” says Lowy. “I’m grateful to Chief of Staff Jonathan Levinson for his exemplary work in managing the unit during its transition period.”
As Director, Internal Audit, O’Bree will oversee the effectiveness of internal controls, ensuring compliance with Concordia’s policies and applicable legislation and standards. His duties include developing internal audit plans and supporting management in developing and maintaining business controls for various processes, systems, financial statements and reports, in accordance with internal auditing and government-mandated standards. He will also participate in the university’s enterprise risk management efforts, coordinating approaches to identify, assess, respond to and monitor risks. O’Bree reports functionally to the Audit Committee of the Board of Governors, and to Lowy for day-to-day operations.
O’Bree is a qualified chief audit executive with over 25 years of experience. He has held several executive positions with leading Canadian and American corporations, including his most recent position as vice-president, internal audit at Domtar Corp. He also served as vice-president, corporate and audit services at Bombardier Inc. and director of audits at St-Lawrence Cement Inc. He has varied experience developing and motivating small and large audit teams; leading initiatives to improve governance, control and continuous quality improvement; and extensive experience reporting to board audit committees.
A graduate of the Kingston Polytechnic CA Program in the United Kingdom, O’Bree obtained an Executive MBA from Concordia in 1990 and was the recipient of a Royal Bank Award for being the top ranked graduate. He is a member of the Canadian Institute of Chartered Accountants (CA), a member and Fellow of the Institute of Chartered Accountants in England and Wales (FCA), a Certified Internal Auditor (CIA) and a Certified Information Systems Auditor (CISA).
Related links:
• Enterprise Risk Management Policy
• Board of Governors