Group Head of Internal Audit
Job Description
Title: Group Head of Internal Audit
Company Name: ProAms Business Consultant
Vacancy: 1
Job Location: Anywhere in Bangladesh
Employment Status: Full-time
Educational Requirements:
∎ Master of Business Administration (MBA) in Finance Accounting
∎ Preferred Professional Certification: CIA CPA FCA FCCA or relevant qualification
Experience Requirements:
∎ 11 to 17 year(s)
Job Context:
∎ The primary role is to help the Board and Executive Management to protect the assets, reputation and sustainability of the organization.
∎ Assessing whether all significant risks are identified and appropriately reported by Management and the Risk function to the Board and Executive Management; assessing whether they are adequately controlled; and by challenging Executive Management to improve the effectiveness of governance, risk management and internal controls.
∎ A frequent travel to the operating countries and Head Quarters.
Job Responsibilities:
∎ 1. Review whether the key risks to the organization have been identified, including emerging and systemic risks, and assess how effectively these risks are being managed.
∎ 2. Setting out the priorities and deciding where to carry out more detailed work, Internal Audit must focus on the areas where it considers risks to be higher. Also, make a risk-based decision as to which areas within its scope should be included in the audit plan. Internal Audit must have the flexibility to deal with unplanned events to allow Internal Audit to prioritize emerging risks.
∎ 3. To ensure at least the following areas in the audit scope:
∎ a. To review the design and operating effectiveness of the internal governance structures and processes of the organization. The information presented to the Board and Executive Management for strategic and operational decision making. Internal Audit must assess whether the information presented to the Board and Executive Management fairly represents the benefits, risks and assumptions associated with the strategy and corresponding business model.
∎ b. To assess the risk appetite has been established and reviewed through the active involvement of the Board and Executive Management. It should assess whether risk appetite is embedded within the activities, limits and reporting of the organization; and it should report annually to the Audit Committee its conclusions on whether the organization’s risk appetite framework is being adhered to.
∎ c. To review the risk and control culture of the organization. This should include assessing whether the processes (e.g. appraisal and remuneration), actions (e.g. decision making), ‘tone at the top’ and observed behaviors across the organization are in line with the espoused values, ethics, risk appetite and policies of the organization.
∎ d. To assess risks of poor customer treatment, giving rise to conduct or reputational risk
∎ e. Review the modelling and management of the organization’s capital and liquidity risks.
∎ f. To evaluate the design and operating effectiveness of the organization’s policies and processes.
∎ 4. Make sure that the reporting to the Board Audit and/or Risk Committees should include:
∎ a. a focus on significant control weaknesses and breakdowns together with a robust root-cause analysis. Internal Audit’s reports should identify owners, accountabilities and timescales for each management action;
∎ b. an independent view of Management’s reporting on the risk management of the organization, including a view on Management’s remediation plans (which might include restricting further business until improvements have been implemented), highlighting areas where there are significant delays;
∎ c. a review of any post-mortem and ‘lesson learned’ analysis if a significant adverse event has occurred at an organization (for example, a regulatory breach). Any such review should assess both the role of the first and second lines of defense and Internal Audit’s own role; and
∎ d. at least annually, an assessment of the overall effectiveness of the governance, and risk and control framework of the organization, and its conclusions on whether the organization’s risk appetite framework is being adhered to, together with an analysis of themes and trends emerging from Internal Audit work and their impact on the organization’s risk profile.
∎ 5. Assessment of the adequacy and effectiveness of the Risk Management, Compliance and Finance functions.
∎ 6. Conduct pre-audits of invoices, contracts, purchase orders, and other requests for funds to substantiate the transaction or series of transactions before payment.
∎ 7. To ensure that the audit team has the skills and experience, including technical subject matter expertise, commensurate with the scale of operations and risks of the organization.
∎ 8. To ensure maintaining an up-to-date set of policies and procedures, and performance and effectiveness measures for the Internal Audit function. Internal Audit should continuously improve these in light of industry developments.
∎ 9. Where the Internal Audit function is outsourced to an external provider, Internal Audit’s work should be subject to the same quality assurance work as the in-house functions. The results of this quality assurance work should be presented to the Audit Committee at least annually for review.
∎ 10. Lead and supervise group level auditors, head of internal audits in 13 countries and overall supervision around 125+ internal auditors who are working in the entities.
Additional Requirements:
∎ Age 37 to 50 years
∎ 10 to 15 years of related work experience with at least 5 years in a Head of Internal Audit role or equivalent in a Financial Institution preferably in microfinance.
∎ The applicants should have experience in the following business areas;
∎ Microfinance, Multinational Company, Banks, Investment & Merchant Bank and Financial Institutions etc.
Salary: Negotiable
Application Deadline: March 9, 2020
Company Information:
∎ ProAms Business Consultant
∎ Address : ANANNA (4th Floor), House # 1, Road # 23 / A, Gulshan 1,Dhaka 1212 Bangladesh
∎ Web : www.proamsltd.com
Category: Accounting/Finance
Deadline Expired on 9th Mar 2020
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