Our client, a tier 3 bank seeks to hire a Head of Internal Audit; the job holder will be responsible for performing objective, independent, and reliable assessments of the effectiveness of the Bank’s risk management activities, its Compliance with applicable regulations, and its internal control environment

Direct Reports: Board Audit Committee

Indirect Reports: Managing Director

Key Duties & Responsibilities

1. Responsibility for all audit project management activities of the bank, and leading implementation of annual planning, developing, and scoping the audit test plan.
2. Perform a review of the effectiveness and application of risk assessment methodologies and risk management procedures.
3. Oversee the execution of individual audits defined in the audit plan ensuring the highest level of service quality.
4. Examine and evaluate the effectiveness and adequacy of the internal control systems.
5. Issue all Internal Audit reports ensuring the reports are clear, concise, identify root causes with practical solutions, and ultimately provide value as well as resolving material issues with senior management.
6. Meet regularly with the Board Audit Committee to report on the status of Internal Audit’s ongoing monitoring activities, educate/inform the committee of emerging risks and/or exposures (whether internal or external to the company) that should be considered.
7. Proactively inform senior management of significant risks or exposures related to internal controls, compliance, and/or governance requiring prompt attention.
8. Manage the process to track, follow-up, and ultimately close all open audit issues {both internal and external/ audit/ leveraging the Board Audit Committee, if necessary.
9. Actively participate in executive management meetings and/or committees to ensure that the Internal Audit is well-informed of key business developments that could have an impact on audit priorities and/or plans.
10. Ensure that Internal Audit is performing its work in accordance with established professional standards and remain abreast of emerging trends and best practices that can be incorporated into the function and the Institution.
11. Oversee Internal Audit’s participation in critical business and technology initiatives and projects ensuring that audit’s perspective is effectively voiced and appropriate controls are designed and implemented on a proactive basis.
12. Review financial and management information systems, including the electronic banking services and electronic information system.
13. Review financial reports and accounting records for accuracy and reliability.
14.  Perform review on established systems for ensuring codes of conduct, compliance with regulatory and legal requirements, and the implementation of procedures and policies and governance processes.
15. Perform special and ad-hoc investigations as required.
16. Advisor to bank management by developing strong knowledge and understanding of the bank’s business strategies, each of its lines of business, and the particular process or area under review.
17. Provide regular reporting on the performance of self and department quarterly and/or annually as may be required.
18. Operational efficiency through management of the assigned budget, policies and procedures.

WORKING RELATIONSHIPS

Key stakeholders that the position holder will need to liaise/work with to be successful in this role:

Internal

Candidate Specifications

• Over 10 + years’ experience or audit field, 3 years of which should be in management or leading an audit team.
• A University degree in Business-related field from a recognized institution.
• CPA (K) and a member of ICPAK or internationally recognized accounting body and in good standing.
• Deep understanding of risk management, banking and auditing.
• Strong working knowledge and ability to use MS office and other standard software application tools.
• Strong aptitude for easy and quick learning of audit analytical, or/and facilitation skills.
• Integrity.
• Good communication skills
• Good conduct.