Internal Auditor- Managerial Position

Job Description

Title: Internal Auditor- Managerial Position

Company Name: RMG Sustainability Council (RSC)

Vacancy: --

Age: Na

Job Location: Dhaka

Salary: Negotiable

Experience:

• At least 6 years
• The applicants should have experience in the following business area(s): Garments

• Master of Business Studies (MBS) in Accounting
• Master of Business Studies (MBS) in Finance
• Master of Business Studies (MBS) in Management

• Master’s degree in accounting, Finance or Management

• ACA / ACCA / FCA / FCCA

• CIA would be an added advantage.

• At least 6 years
• The applicants should have experience in the following business area(s): Garments

• At least 6+ years of professional work experience in the internal audit function

Key Skills:

• Proven experience as an internal auditor

• In-depth knowledge of internal audit principles and best practices,

• Proficient in the use of MS Office

• An analytical mind with a strategic ability

• Excellent organisational and leadership skills

• Outstanding communication and interpersonal abilities

• Proficiency in English language

• Professionalism, discretion, and the ability to cope with stressful situations and tight timelines

Introduction:

The Ready-Made-Garments (RMG) Sustainability Council (RSC) is an unprecedented initiative to ensure that garments exported from Bangladesh are produced in safe factories.  The RSC carries forward the significant accomplishments made on workplace safety in Bangladesh following the Tazreen fire and Rana Plaza collapse incidents.  The RSC conducts structural, electrical, fire, and boiler safety inspections of factories, supports and monitors remediation, conducts safety training and operates an independent safety & health complaints mechanism available to workers in RMG factories.

Overall Job Purpose:

The position of the Head Internal is part of the RSC’s senior management team and reports independently to the Board via the Executive Committee (with dotted line reporting to the Managing Director). It is based in the RSC office in Dhaka. Working closely with MD, he will develop the strategy and priorities for internal audit.

The role is responsible for driving internal compliance with standard operating procedures related to operational, compliance, and financial matters. Objectively evaluating risks and developing recommendations to improve risk management, investigating fraud, analyzing and assessing processes and systems for efficiencies, doing checks regarding integrity in decision making, and keeping control of compliance with applicable laws and regulations. It is expected to drive this independently in an unbiased review of a company’s internal systems, processes, and procedures. The role would be responsible for not only highlighting process gaps/ non-compliances but also working closely with respective teams to watch over transitional process, workflow, and improvement required areas, working collaboratively and improving existing processes.

Duties and Responsibilities:

Development of internal audit strategy and calendar

• Identify key processes within the RSC to be covered as part of the scope of the internal audit. These would typically cover operational, financial processes, and other areas to identify risks to the business.

• Define how the internal audit would take place and get approval from the Executive Committee. Create necessary best practices, systems, and resources required to undertake the same

• Create an internal audit calendar to ensure adequate coverage of the internal audit process

Conduct of internal audit

• Conduct the internal audit process as per the calendar approved (this may also, at times, involve engaging a third-party internal auditor)

• Ensure timely completion of the internal audit and obtain all necessary information or data related to the checks and compliance required

• Work closely with HOD’s to ensure that they comply with the requirements of the internal audit

Creation of an internal audit report and action plan

• Post completion of internal audit, create a comprehensive internal audit report to be shared with the Board

• Highlight specific deviations and non-compliances to the Board that are of a significant nature

• Agree on an action plan to ensure the deviations/ non-compliances are minimized going forward

Support in corrective action

• Socialize and communicate the findings of the internal audit report and action plans arising thereof with MD, CSO, and HOD’s

• Align on specific corrective actions to be taken and create a charter of ownership for those actions

• Monitor the progress closely and report back to the Board on a periodic basis regarding the progress made

• Take the support of MD, CSO where required, to expedite the action plans

Clear Communication

• Communicate and interview strongly, effectively, and targeted in the information-gathering phase

• Putting gained information together structurally and effectively messaging results to relevant management teams in a clear and concise manner

• Communicate clearly and straightforwardly to the executive committee to support the Board of Directors in their control function