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Head Internal Audit
- Post Date:March 7, 2023
- Views 181
- Career Level ExecutiveQualification DegreeExperience 5-10 Years
- Industry Banking
Required is an experienced Head Internal Auditor for our innovative and growing financial Institution. If you are looking for an exciting place to work, do not ignore this opportunity. The head of Internal Audit provides independent and objective assurance, consulting services, evaluations, analyses, and appraisals designed to add value and improve the banks’ operations, internal controls, effectiveness of governance and risk management processes
Key Result Areas
- To design and maintain methodology and procedures for the Internal Audit function in line with legislation, operating environment, and guidelines.
- Lead the development and implementation of the internal risk-based audit strategy and annual plan for the organisation.
- Presents the Internal Audit strategic plan to the audit committee for review and approval annually.
- Recommends the Audit Charter and Methodology to the Board Audit Committee for approval annually.
- To establish the principles of the risk assessment methodology in writing and regularly update them to reflect changes to the internal control system as well as incorporate new lines of business.
- Formulates the department’s annual training program for consolidation into the organisation’s training calendar.
- To maintain awareness of internal audit trends as per evolving industry and regulatory changes impacting the business to assure audit processes remain effective.
- Reviews the functional strategy and plan quarterly to assess adherence to the set objectives and timelines.
- Attends senior management meetings (e.g., Executive Committee, ICT Steering Committee and Project Committee) by invitation to provide input on internal controls, processes, and governance.
- To provide proactive management and delivery of the organisation’s internal audit plan; with direct full responsibility for execution of audits.
- To review and make a judgement on the whole range of controls including those relating to achieving value for money and the prevention and detection of fraud and corruption.
- Identify key areas of risk within the organization and propose appropriate controls to mitigate the risks.
- To evaluate the systems of internal controls within various departments using risk assessment and statistical models
- To supervise and participate in the performance of internal audits of the bank, its systems, applications, and branches.
- Reviews the auditors’ work in respect to quality, adherence to audit approach and audit completion as per the audit methodology.
- To communicate audit findings to management and identify opportunities for improvement in the design.
- Reviews audit reports by senior auditors to ensure accurate audit reports and recommendations for presentation and review by senior management and the Board Audit Committee.
- Presents audit findings to management and business unit heads to ensure alignment of issues raised and the perceived risks.
- Assists management with formulation of corrective actions on identified control weaknesses.
- Discusses the audit reports with the Executive Committee members.
- Prepares quarterly reports to the Board Audit Committee detailing audit reports and findings raised over the period, management remediation status of findings and audit activities.
- Submits audit reports to the Director Supervision and Surveillance of the Reserve Bank of Zimbabwe and follows up on any additional audit requirements requested.
- Conducts skill analysis for audit staff and assigns duties on the approved Risk based Audit Plan and their capabilities.
- Assesses audit staff work by checking on the quality, performance, and audit timeliness for each assignment.
- Attends to grievances raised by staff in the department as and when required.
Qualifications/Skills and Knowledge Requirements
- Honours Degree in Accounting, Finance, Business Management or Economics.
- 8 to 10 years of related work experience with at least 3 years in a Senior Internal Audit role or equivalent.
- Must have a professional qualification in, Auditing, Chartered Accounting or Certified Information Systems Auditor or equivalent.
- Respect the basic principles of the Internal Auditors’ code of ethics, integrity, objectivity, confidentiality, and competency.
- Apply the international standards for the professional practice of internal auditing published by the “Institute of Internal Auditors” and the professional practices foreseen in the audit manual of the internal audit group.
- Exceptional Analytical skills
Interested candidates may email their CVs to email@example.com stating the position being applied for in the subject section.
The closing date is 7 March 2023.