Chief Internal Auditor

Job Purpose

Strategy Implementation and Operational Management

• Develop the Internal Audit Department strategy, budget, and planning process covering the areas of business systems and operational processes, financial and accounting systems, and business risk Management, provide an effective internal audit service, delivered through healthy partnership with management while remaining independent in line with company strategy.
• Direct the hiring, training, supervision and evaluation of internal audit staff.
• Annually revisit the internal audit three-year strategic plan and amend it in accordance with changes to the company risk register
• Evaluate and assess significant new or changing services, processes, operations, and control processes coincident with their development, implementation, and/or expansion.

Planning

• Define audit scope in order to identify the risk areas, management processes, and internal controls
• Undertake comprehensive planning relating to each assignment to ensure that the engagement identifies potential business risks. Define audit scope in order to identify the risk areas, management processes, and Internal controls.
• Lead the preparation of risk-based audit plans consistent with the organizational objectives.
• Communicate plan of engagements and resource requirements for the internal audit function, including significant interim changes to the audit committee. This communication shall include the impact of resource limitations.

Operations

• Lead the activities of the department to ensure that all work is performed independently without bias, with due diligence and timeliness, with adequate support for appropriate findings and recommendations provided in well-written reports.
• Oversee the execution of detailed audit plans and ensures that the audited departments cooperate with the internal auditors providing access to documents, reports, systems and personnel
• Represent the internal audit department at Audit Committee, management and external organization meetings.
• To identify and assess the risks of material misstatement of the financial statement due to fraud and to obtain sufficient appropriate audit evidence about the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses.
• Monitor the adherence to procedures, methodologies, approach, and systems used in internal auditing and takes corrective action as necessary
• Direct, monitor and evaluate the Audit department’s on-going performance and quality of its outputs and services, identifying and initiating actions for improvement and innovation, develop appropriate departmental operating procedures.
• Participate in high-level review of the Departments’ processes and activities and measures implementation and adherence to internal controls and policies
• Lead special audit assignments mandated by the Audit Committee, CEO and executive management

Reporting

• Review audit projects results, working papers and lead the presentation of final audit reports to the executive management and Audit Committee.
• Analyze the application of internal controls and the effectiveness of internal processes and systems within the service Departments based on audit results and presents findings to the Management
• Advise Management and the Departments on internal control issues, on efficiency and effectiveness issues and on compliance issues and on its possible impact on their activities. Propose remedial action wherever necessary
• Issue periodic reports to the audit committee and management summarizing results of audit activities.
• Keep the audit committee informed of emerging trends and successful practices in internal auditing and provide an annual list of significant measurement goals and results.
• Provide an annual holistic opinion on the effectiveness and adequacy of risk management, control, and governance processes.
• Audit findings tracking
• Direct audit team in ensuring that there is an adequate and continuous follow-up with the business Departments in order to have maximum adherence to audit recommendations/ Agreed remediation plans
• Lead Follow-up projects with departments heads on a continuous basis to ensure maximum adherence to established or recommended controls

People Management

• Generate commitment, motivation and enthusiasm to goals, and guides subordinates through periods of change or uncertainty
• Provide clear direction, priorities tasks, assign and delegate responsibility and monitor the workflow
• Plan, manage and review individual performance and provide regular feedback, development, and coaching, taking prompt action where necessary
• Provide opportunities for team members to suggest, participate in and contribute to improvement, innovation, and knowledge sharing initiatives
• Maintain a professional audit staff with sufficient knowledge, skills, experience, and professional certifications to meet the requirements of Internal Audit Charter.
• Develops & maintain productive business unit, staff and management relationships through individual contact and group meetings.
• Keep abreast with all the latest updates in the audit field, risk management and internal control and improve the abilities of the department.