The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently named Lucia M. Wind as its next board chair for a three-year term that began on January 1. In this new role, Wind is responsible for leading COSO in fulfilling its mission of providing thought leadership in the areas of internal control, enterprise risk management, governance, and fraud deterrence. She succeeds Paul J. Sobel, who recently stepped down after serving as COSO board chair since 2018.
Jeff Thomson, CMA, CSCA, CAE, IMA president and CEO, who on January 1 stepped down as COSO lead director, was deeply involved in the search for a new chair. Said Thomson, “The COSO board greatly appreciates Paul Sobel’s service, and we look forward to enhancing COSO’s influence and relevance globally in a disruptive business environment led by Lucia who brings board experience, practical experience in all of the focus areas of COSO’s mission, and technology expertise, combined with a passion to learn and advance the profession.”
According to a press release announcing the appointment, “The COSO board conducted a robust and rigorous global search seeking candidates with executive maturity and presence, deep knowledge and experience in internal controls, enterprise risk management, governance, fraud deterrence, leadership skills, public speaking proficiency, and a commitment to ensuring the relevance and influence of COSO globally.”
Originally formed in 1985, COSO is a voluntary private sector organization dedicated to helping organizations improve performance by developing thought leadership that enhances internal control, risk management, governance, and fraud deterrence. IMA is one of five co-founding members of COSO, along with the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), Financial Executives International (FEI), and The Institute of Internal Auditors (IIA).
Wind has been a business partner, enterprise risk management (ERM) leader, and internal audit executive at large technology firms with a global footprint, in addition to leadership roles at smaller enterprises and NFPs. She currently is a vice president at Unisys, where she leads the internal audit function and established a COSO-based ERM function with a reporting line to the board of directors. Additionally, she implemented analytics-based capabilities to support her lead functions. While at another large technology company earlier in her career, Wind led ERM, risk assessment, internal audit, and SOX compliance using the COSO Internal Control–Integrated Framework.
Wind, who earned a BBA in Finance from UMass Amherst, is a Certified Fraud Examiner. She is currently pursuing other certifications and speaks multiple languages.
For more information about IMA’s COSO activities, please visit the IMA website.