Head Internal Audit
Jobs at:Bayport Financial Services
Deadline of this Job:
Monday, August 07 2023
Date Posted: Friday, July 28 2023, Base Salary: Not Disclosed
• Reporting to the Chief Executive Officer administratively and functionally to the Audit Risk Committee of the Board, the Head – Internal Audit will be responsible for implementing an organisation-wide strategy for conducting internal audits throughout the organization to minimize risk; improve the performance and productivity of the organisation’s financial, operational, and managerial processes and systems; and ensure that the organisation complies with all relevant regulations, laws, and standards. The role will also seek to enhance and protect organisational value by providing risk-based and objective assurance, advice and insight.
The job holder will be responsible for strategic and tactical planning, development, evaluation, and coordination of the Internal Audit function including but not limited to the following:
• Preparation of annual audit plan and getting it approved by the Audit and Risk Committee.
• Adopts a risk-based approach in the development of its audit programmes and the annual work plan.
• Execution of audit plan and reporting findings of the audit to the Audit and Risk Committee.
• Ensure that the results of internal audit assignments as per plan are communicated accurately and timely to senior management and the Audit and Risk Committee and that issues raised are followed up with management of the audited unit to check on the timely implementation of corrective actions.
• Responsible for drafting the Internal Audit Charter and presenting it to senior management to confirm the agreed upon role and expectations and then seek approval from the Board via the Audit and Risk Committee.
• Prepare an internal control questionnaire to evaluate the adequacy and effectiveness of internal controls over the activities of the company.
• Supervise the review of the company’s activities and determine compliance with applicable policies and procedures in a manner consistent with the entity’s objectives.
• Independently assess the effectiveness and efficiency of the internal control, risk management and governance systems and processes created by the business units and support functions and provide assurance on these systems and processes.
• Determine key risks and mitigating controls on key business activities and draft audit programs which address those risks.
• Verify audit evidence and record audit observations, make audit recommendations that are feasible, practical and cost efficient for approval.
• Review the means of safeguarding assets as well as testing the existence thereof.
• Provide a written assessment regarding the effectiveness of the system of internal controls, risk management and governance to the Audit and Risk Committee annually.
• Render consulting and advisory services if there is no possibility that independence and objectivity may be jeopardised in future audits.
• Ensure compliance with the requirements of Corporate Governance Directives and other applicable rules and regulations approved by the Board of Directors.
• Design and arrange any special audit/ investigation exercise if so required by the Chief Executive Officer or the Audit and Risk Committee.
• Finalise and issue the reports after completion of each assignment.
• Responsible for the administration of the Department, time management, prioritisation of tasks and performance appraisal of persons reporting to him.
• Ensure that the Internal Audit function remains compliant and effective following both internal and external quality assurance reviews.
Minimum Entry Requirements
• Full grade 12 certificate
• Bachelor of Accountancy, ACCA, CIMA or equivalent
• Certified Internal Auditor (CIA) – Institute of Internal Auditors – Global, would be an advantage
• Member of ZICA
• Member of the Institute of Internal Auditors
Other Skills And Attributes
• Minimum 6 – 10 years Audit experience
• Strong interpersonal and communication skills with ability to deal with people of all levels
• A team player with good initiatives and assertiveness
• Energetic and Enthusiastic
• A self-motivator who is keen on upgrading and improving personal knowledge & skills to meet evolving job requirements
• High level of integrity and confidentiality
Work Hours: 8
Experience in Months: 72
Level of Education: Bachelor Degree
Job application procedure
• Suitable candidates must send their applications, attaching their current CVs and professional/academic certificates, to firstname.lastname@example.org.
The closing date for receiving applications is Tuesday 1st August 2023. Only shortlisted candidates will be contacted.
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