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Barbara, Manager - IA at Compass Diversified: Advize Career Interview
A career in internal audit at Compass Diversified, as described by a Manager - IA, offers a dynamic and impactful journey.
The role demands multitasking, strong communication, and adaptability to changing priorities across diverse industries and stakeholders, from warehouse managers to CEOs.
Success requires patience, resilience, and proactive communication, while also emphasizing the importance of work-life balance and self-care to prevent burnout.
Entry-level opportunities exist in large public accounting firms or within specific industries, providing valuable experience.
A significant lesson learned is the value of managing competing priorities and the importance of proactive communication to navigate a demanding career and overcome challenges, like adapting to a new country and work culture.
The rewards include adding value to companies, helping smaller businesses navigate regulatory compliance, and continuous learning in a globally connected environment.
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Barbara Anderson
Manager - IA
Compass Diversified
Makerere University Kampala
Makerere University Kampala, BSc Agri-Business Management
Majors
Industries
Job Functions
Traits
Business & Related
Finance (Banking, Fintech, Investing)
Finance
Scholarship Recipient, Immigrant
Watch all of this Advizer's videos below
Career Path Of An Internal Audit Manager At Compass Diversified
Barbara's career as a Manager - IA at Compass Diversified involves a diverse range of responsibilities, including "planning audits," "performing risk assessments," designing and implementing controls for portfolio companies, and conducting fraud examinations. The role requires significant multitasking and communication with both internal and external stakeholders, highlighting a dynamic and impactful career in internal audit.
A Day in the Life of an Internal Audit Manager at Compass Diversified
Barbara's role as Manager - IA at Compass Diversified involves a wide range of responsibilities, including "planning audits," "performing risk assessments," designing and implementing controls for portfolio companies, and conducting fraud examinations. The position requires significant multitasking and communication with both internal and external stakeholders, highlighting the multifaceted nature of internal audit management.
Most Important Skills for an Internal Audit Manager at Compass Diversified
Barbara, a Manager - IA at Compass Diversified, emphasizes the crucial need for multitasking and flexibility, stating that "things change…schedules change," requiring adaptability to shifting priorities and team dynamics. This necessitates strong interpersonal skills to effectively communicate and extract information from diverse individuals, ranging from "warehouse manager[s]…to the CFO and CEO," across numerous companies.
Favorite Parts Of Being An Auditor At Compass Diversified
Barbara's most valued aspects of her role as a Manager - IA at Compass Diversified include "exposure to different industries," from consumer goods to manufacturing, allowing for continuous learning and interaction with diverse professionals across the globe. This variety, coupled with "being able to keep up to date with what's happening in the economy," keeps the work engaging and intellectually stimulating.
Biggest Challenges For A Manager Internal Audit At Compass Diversified
Barbara's biggest career challenge, a constant throughout their career, is achieving work-life balance, a struggle stemming from a dedication to meeting goals and a family-oriented nature; managing diverse personalities, including "very abrasive" individuals, while maintaining professionalism and accomplishing tasks, is another ongoing focus.
Favorite Parts of Working in Internal Audit as an Internal Audit Manager
Barbara, a Manager of Internal Audit at Compass Diversified, finds the most rewarding aspect of her role is "adding value to the company," helping smaller businesses navigate regulatory compliance ("like, for a public company") and improve efficiency, a significant shift from her earlier external audit experience. The challenge of communicating the value of internal audit to business owners who may initially resist is a key source of satisfaction.
What Type Of Person Thrives In The Auditing Industry According To An Internal Audit Manager At Compass Diversified
Barbara, a Manager of Internal Audit at Compass Diversified, highlights the need for patience, resilience, and organization in the demanding field of accounting and audit, stating it "needs people who are patient" and requires the ability to "see something through". Success also hinges on strong communication skills, initiative, and the ability to "meet goals without a lot of micromanagement", all traits reflecting a proactive and self-sufficient work ethic.
What An IA Manager At Compass Diversified Wishes They Had Known Before Entering The Finance Industry
Barbara, a Manager - IA at Compass Diversified, learned the crucial importance of effective communication in navigating a demanding career, wishing she'd understood this sooner. The ability to "speak up," to manage workload expectations, and to prioritize tasks proactively, prevented burnout and proved essential for success in such a "busy line of work."
Entry-Level Positions For Aspiring Accountants And Auditors
Entry-level accounting and auditing roles at large public accounting firms like PricewaterhouseCoopers, Ernst & Young, Deloitte, and KPMG offer "exceptional experience," providing a "bird's-eye view" of financial statements across various industries. Alternatively, starting in an accounting role within a specific industry of interest is another viable entry point, as "there's lots of opportunities" given the universal need for accountants and auditors in all sectors.
College Experiences That Helped a Manager IA at Compass Diversified Succeed
Barbara, a Manager - IA at Compass Diversified, emphasizes the importance of maintaining a healthy work-life balance to avoid burnout, stating "always step back and realize that...you have to take care of yourself as well". This involves prioritizing personal well-being alongside career goals, ensuring "physically, mentally you're doing the things that you love to do as a person" for sustained success.
How Identity Has Influenced An Internal Audit Manager At Compass Diversified's Career
Barbara, a Manager - IA at Compass Diversified, emphasizes the importance of maintaining a healthy work-life balance to avoid burnout, stating, "always step back and realize that...you have to take care of yourself as well". This self-care, encompassing physical and mental well-being through hobbies and rest, is crucial for long-term career success and prevents the pitfalls of "living off of adrenaline" and subsequent illness.
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