Group Internal Audit
Job Purpose
To review and assess in collaboration with Audit Managers, the high risk areas of the business in order to give assurance to the Audit Committee, Business Executives and Shareholders that good governance practices are in place and internal controls are exercised throughout the financial period. Provide support in ensuring the achievement of the Internal Audit function mission which is to provide independent, objective assurance and consulting services that are designed to add value and improve operational controls. Support Internal Audit in accomplishing its objectives by bringing a systematic, disciplined approach to the evaluation and improvement of the effectiveness of risk management, control and governance processes.
Key Responsibilities/Accountabilities
1. Implement functional and service strategy
· Understand the Internal Audit strategy and its link to Group Strategy.
· Understand and Comply with the Internal Audit standards and methodology as defined and supported by the audit tool.
· Execute allocated operational plans in line with the Internal Audit strategy.
· Create and manage component of overall project plan. Meet assigned budget and project milestones. Provide formal weekly project status updates/reporting.
· Contribute to definition and delivery of team goals and KPIs to support delivery of Internal Audit annual performance goals.
· Provide input to all committee reports as required.
2. Manage relationship and allocated portfolios
· Build and foster a good relationship with business units, enabling functions, risk and compliance management stakeholders (all relevant levels of management impacted by the service) especially those working in your allocated audit portfolio - through regular communication and formal status reporting.
· Build and foster a good working relationship with Internal Audit teams and colleagues (all relevant service teams and management levels) to promote cross skilling and optimise cross team delivery - through regular communication.
· Understand detailed business process activities as well as activities performed in enabling functions that support these.
· Understand annual key risk concerns for the business area as well as industry and latest trends impacting risk and control practices
· Identify and recommend areas of improvement (to accountable process owners) in the control environment of your allocated audit portfolio and other areas of the group.
· Report or share information on emerging trends and potential solutions for addressing control weaknesses, process efficiency challenges or resolving open audit issues.
3. Provide the third line assurance services
· Contribute to development of the Internal Audit Annual Audit Plan applying a risk based approach.
· Deliver all allocated assignments within with agreed time, scope, and budget.
· Deliver allocated components of the audit/advisory/proactive assurance assignment and report on these according to the Internal Audit methodology and Internal Audit quality standards.
· Contribute to continuous enhancement of quality control standards and toolkits for audit assignments.
· Complete all assigned / functional working papers, from planning to report within deadline, and ensure correct classification and allocation of findings in the Audit Tool.
· Report key issues or audit findings accurately in a succinct, impactful manner, clearly articulate and substantiate materiality or significance of the risk and its impact.
· Recommend appropriate corrective action, and obtain management commitments for correctives actions and record these accurately as agreed.
4. Contribute towards team goals and objectives by managing own training requirements
· Contribute towards team goals and objectives. Provide formal performance feedback to peers.
· Manage own training requirements and complete of all Compliance related training.
· Proactively drive own development plans. Facilitate development of junior staff, where applicable. Coach/mentor individuals or intentionally transfer knowledge to individuals on the job to mature their professional skills and careers.
· Motivate team members where applicable and ensure that they receive recognition for work well done and contribute towards a positive, high performance working environment.
· Perform HR administration (personnel records: Leave, Training and EPM records).
5. Manage Audit database for future use
· Collect, document and store key information about the audit portfolio in the allocated INTERNAL AUDIT database for common usage. E.g. Stakeholder list by category and needs; audit portfolio key information documents; detailed business process or standard operating procedure documents; business and technology architecture documents; project initiatives, and other
· Stay abreast with best practices, industry regulations, risks, audit techniques and tools through research, association with profession bodies, etc
Preferred Qualification and Experience
Bachelors Degree or Equivalent, in a relevant field
Experience in Internal Auditing (1-2 years)
Understanding accounting transaction posting rules and general acceptable financial reporting standards. (1-2 years)
Knowledge/Technical Skills/Expertise
The ability to manage the operations of the internal audit function to deliver business value and continuously develop it to maintain its relevance within the organisation and with the relevant regulators.
The ability to plan, execute, report on an audit or advisory review assignment following the Group Internal Audit methodology in order to meet the audit objectives and give assurance to management on the Bank’s risk and control environment .
Knowledge of Internal Audit International Professional Practices and apply them to improve the audit methodology, and as a quality standard for audit engagement deliverables to ensure continuous improvement of the audit function.
The ability to assess governance and control frameworks against the appropriate risk appetite and enhance the risk management culture in line with the organisational objectives.
Understand the banking industry and the impact that the economic and regulatory environment have on the organisation. Apply this knowledge in your assessment of risks and recommendation of appropriate control and quality frameworks.
Ability to express ideas by means of clear and effective writing, in order to support professional communication internally within the Bank and externally.
The ability to communicate information and ideas in a clear and concise manner appropriate for the audience in order to explain, persuade, convince and influence others to achieve the desired outcomes.
the ability to apply problem solving techniques and appropriate research data to appraise the efficiency and effectiveness of business processes and identify and provide new insights and practical business solutions that can be implemented.
The ability to initiate and manage change, continuous improvement and innovation and encourage others to do that same, while assessing risks and barriers for change and adapting audit activities.
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