He does not. This specific IG position serves at the pleasure of the president, but not without political pressure. On the incoming side, IG's are nominated by the president, and their appointment is subject to advice and consent by the Senate. On the outgoing side, the president is required to communicate the reasons for removal to both Houses of Congress. Whether or not the reasons "pass muster" is a political question, not a statutory one.
Inspector General Act <- Link
5 USC 3 : § 3. Appointment of Inspector General; supervision; removal; etc.
I understood there was a notify congress 30 day in advance provision, but as you suggest it’s not in the section you quoted...
Thanks. I suspected he served at the pleasure of the President much like the Attorneys General do.