Head Of Internal Audit (Financial Services Sector)

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

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 company’s 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 Department’s 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.

Requirements: