Head Of Internal Audit (Financial Services Sector)

Overview: Our client is seeking to appoint a senior professional to oversee and direct their Internal Audit Department through the formulation of an appropriate Internal Audit framework and ensure timely execution of the Audit Plan.

The Head of Internal Audit will work closely with the companys other departments as needed while maintaining the necessary auditor independence and objectivity. The Head of Internal Audit reports directly to the Audit Committee of the Board of Directors with administrative oversight from the Chief Executive Officer.

Duties & Responsibilities:

• Establishes the Internal Audit Charter and Terms of Reference.
  
• Leads the Internal Audit Departments risk assessment and planning process.
  
• Plans and oversee Internal Audit engagements to assess the adequacy and effectiveness of the company governance risk management and control processes.
  
• Assess compliance with policies procedures laws and regulations.
  
• Provides recommendations for improving operational efficiency and effectiveness.
  
• Maintains an appropriate system for recording all audit plans work papers reports and follow-up testing.
  
• Reviews audit work performed by Internal Audit team members for completion and accuracy.
  
• Prepares and completes detailed audit work for certain audits.
  
• Reviews and issues Internal Audit reports.
  
• Recommends revisions and/or additions to policies and procedures to improve operations as well as internal controls.
  
• Updates the Audit Committee on the status of the Internal Audit Plan on a quarterly basis.
  
• Informs the Audit Committee of emerging risks and/or exposures.
  
• Ensures that Internal Audit is performing its work in accordance with the International Standards for the Professional Practice of Internal Auditing.
  
• Ensures that internal and external quality assessments are performed as required.
  
• Conducts training sessions to educate and promote awareness of risk management and internal controls.
  
• Proactively expands or maintains an understanding of the business strategic goals and objectives key processes and business applications.
  
• Conducts performance appraisal of Internal Audit employees.
  
• Supports a culture of risk awareness at all levels of the organization.
  
• Determines an adequate budget to support planned Internal Audit activities.
  
• Maintains a strict level of confidentiality on all matters reviewed.
  
• Perform other related duties as assigned and necessary for the development of the company.
  

• Professional certification such as CIA or ACCA required.
  
• Certifications such as CPA CISA or CFE would be an asset.
  
• Proficient in Microsoft Office and Data Analytics (e.g. ACL IDEA or similar tools).
  
• Bachelor of Science or Master of Science Degree from an accredited college or university in Accounting or Finance or related discipline.
  
• Minimum of 10 years relevant experience required (e.g. internal and/or external auditing accounting risk management IT general controls etc.).
  
• Knowledge of International Financial Reporting Standards International Standards for the Professional Practice of Internal Auditing laws and regulations.
  
• Knowledge of International Financial Reporting Standards International Standards for the Professional Practice of Internal Auditing laws and regulations.
  
• Results-oriented with the ability to manage competing priorities prioritize work and perform multiple tasks in to meet deadlines.
  
• Must possess the highest level of professionalism confidentiality sound morals and ethics with the ability to develop trusting and effective working relationships with colleagues across the organization.
  
• Must have sound problem-solving analytical and planning skills.
  
• Excellent verbal and written communication skills with an ability to succinctly communicate complicated technical and operational issues in business terms.
  
• Proven ability to collaborate influence and drive results at all levels of the organization.
  
• Financial services audit experience at the management level is required.