Chief Audit Executive

To implement the internal audit function of Heritage, under direction of the Board Audit & Risk Committee and to provide independent, objective assurance and consulting services to the Board of Directors and Management and help Heritage accomplish its objectives.

KEY ACCOUNTABILITIES

• Works independently under general direction from the Board Audit & Risk Committee with extensive latitude for initiative and independent professional judgment. 
• Performs advanced level professional internal auditing work as a key component of the corporate governance structure.  Work involves designing and implementing a comprehensive audit program including performance, financial and compliance audit projects; providing consulting services to the organization’s directors and management; development of the Risk-Based Annual Audit Plan; providing ongoing training, and coaching and supervision of Audit Project Teams as and when assigned.
• Supports the Board Audit & Risk Committee in the achievement of its responsibilities and facilitates Heritage’s Governance Initiatives such as Enterprise Risk Management.
• Maintains organizational and professional ethical standards. 

Strategic and Corporate Planning

• Executes the Company’s Internal Audit Charter.
• Develops the Strategic Audit Plan with long term (three to five years) objectives and flexible Annual Audit Plans for the Internal Audit function, using an appropriate risk-based methodology, and in alignment with Heritage’s Corporate Strategic Objectives, Areas of High Risk and Strategic Priorities.
• Provides appropriate advice, financial and/or operational data for the development of Heritage’s Strategic and Corporate Plans and participate with Executive and Senior Management in the discussions.

Operational Performance

• Allocates resources, set frequencies, select subjects, determine scope of works, and execute {or approve for Audit Project Team} the techniques required to accomplish audit objectives.
• Implements a risk based Annual Audit Plan, including as appropriate any special assurance, investigations or consultancy projects requested by the Board, Board Audit and Risk Committee or Executive Management.
• Establishes and implements a Quality Assurance Program (independently certified), Code of Ethics, Confidentiality Management System and Computer Assisted Auditing Tools for the Internal Audit Function.
• Obtains the necessary assistance of personnel in units of the organization being audited, as well as other specialized services from within or outside the organization.
• Provides a list of significant measurement goals and results to the Board Audit and Risk Committee, and issue periodic reports to the CEO, the Board and Board Audit and Risk Committee, summarizing results of audit activities.

Performance Management and Development

• Maintains professional audit standards, knowledge, skills and professional certifications to meet the requirements of the Internal Audit Charter.  Establishes the performance and attribute standards, individual tasks and targets to be achieved by Audit Project Teams as and when assigned.  Monitors compliance with assigned responsibility and appraise the extent of task achievement and the performance and potential of the Team and Team Members under immediate supervision. 
• Establishes and implements plans for job succession and career development projections for the Internal Audit Function and recommend action as appropriate.
• Implements other established human resource, financial, legal, safety, security and corporate management policies and procedures and monitor compliance by Audit Project Teams as and when assigned.

 Operational/Technical/Professional:

• Provides independent assurance on the adequacy and effectiveness and of the Company’s risk management, control and governance processes.
• Assesses the reliability and integrity of financial and operating information.
• Assesses the effectiveness of the management controls and systems used to account for and safeguard Heritage’s assets.
• Verifies compliance with laws, regulations, policies and procedures.
• Determines whether internal controls are adequate to allocate and utilize resources effectively and efficiently.
• Evaluates the design, implementation, and effectiveness of the organisation’s ethics-related objectives, programs, and activities.
• Evaluates the effectiveness and contributes to the improvement of risk management processes.
• Identifies and recommends opportunities for improving governance, management risk and control systems (policies, procedures and practices), corporate performance, image and integrity; and communicate same to the appropriate level of management.
• Monitors the effectiveness of action taken by management to implement recommendations and to correct discrepancies or deficiencies reported by Internal Audit, Regulators and External Auditors.   Initiate appropriate follow-up action to persuade/influence management to adopt desired courses of action; and assist management in designing plans for implementing the recommendations. 
• Initiates investigations into and/or assists in the investigation of significant suspected fraudulent activities, irregularities of a financial or operational nature and risk control breakdowns within the organization and notify CEO, the Board and Board Audit and Risk Committee of the results. 
• Reviews all whistleblowing complaints reported through the Group Whistleblowing hotline and channels complaints to appropriate reviewers within the Group Companies. Responsible for investigating all Heritage whistleblowing complaints, involving employees and third parties.
• Keeps the CEO, the Board and Board Audit and Risk Committee informed of emerging trends and successful practices in internal auditing.  Advise the Directors and Management, on matters of corporate governance, controls and risk management, including regulatory and best practice requirements.
• Liaises with, and co-ordinates activities of, external/contract auditors and regulators; consider the scope of work of the external auditors, regulators and in-house security, safety and health officers, for the purpose of providing optimal audit coverage and assurance to the organization at a reasonable overall cost.
• Implements the audit review of contracts and other agreements with outside entities providing goods and services as appropriate, and the review of contractor records and documentation when deemed necessary to ascertain compliance with contract.
• Evaluates and assesses significant merging/consolidating functions and new or changing services, processes, operations, systems and control processes coincident with their development, implementation, and/or expansion.
• Develops strategic goals, objectives and key performance indicators for Internal Audit and utilizes Performance Management System to measure, manage, and motivate performance.
• Develops and implements staffing strategy and effectively leads a legal team by developing talent and cultivating a high-performance culture.
• Directs the development of departmental budgets and monitors and controls utilization.
• Undertakes any other assignments required from time to time, to fulfil the job purpose.