Role Responsibilities
Internal Audit Strategies and Policies
- Develop and execute a comprehensive Internal Audit strategy and plans aligned with the Agency’s strategy, goals and objectives and drive the implementation of approved plans.
- Develop and implement best practice Internal Audit policies, procedures, and programs that enhance the Agency’s internal controls.
- Lead and direct the strategic and operational activities of the Internal Audit function.
- Establish priorities and targets in terms of Internal Audit objectives.
- Drive the delivery of established Internal Audit performance targets defined in the strategic plan.
Risk Assessment
- Conduct risk assessments and evaluate the adequacy and effectiveness of internal controls.
- Develop risk-based audit programs to address identified risks and control issues.
- Continuously monitor and update the risk assessment to reflect changes in the business environment
Audit Planning and Execution
- Develop the internal audit plan by liaising with the risk and compliance division based on an assessment of the risks and priorities of the Agency.
- Plan and conduct audits to assess the adequacy, effectiveness, and efficiency of internal controls and compliance with policies and procedures.
- Review and evaluate financial and operational processes for accuracy and compliance with regulatory and policy requirements.
- Recommend improvements to internal controls, governance processes, and risk management practices.
- Work with management to design and implement effective control systems.
- Monitor the effectiveness of corrective actions taken in response to audit findings.
Compliance and Regulatory Requirements
- Audit the organisation’s compliance with applicable laws, regulations, and internal policies.
- Stay informed about industry regulations and standards to ensure audit practices are current and relevant.
- Assist in the preparation for external audits and regulatory examinations.
Reporting and Communication
- Prepare comprehensive audit reports with clear and actionable recommendations for improvement.
- Collaborate with management to develop action plans to address identified control deficiencies and mitigate risks.
- Present audit findings and recommendations to senior management and the Board Audit Committee.
- Follow up on the implementation of audit recommendations and report on progress.
Special Projects and Investigations
- Plan, coordinate and manage other specialist audits including but not limited to IT / Cyber security audits of the Agency.
- Conduct special audits and investigations as requested by senior management or the Board Audit Committee.
- Provide objective and independent reports of specific concerns or incidents.
Audit Methodologies
- Stay abreast of emerging trends, best practices, and regulatory changes in the field of internal audit and risk management.
- Foster a culture of ethics, integrity, and continuous improvement within the internal audit function and across the organisation.
- Establish audit methodologies and systems in line with best practice standards.
- Develop audit programs in line with the Agency’s internal environment.
- Implement and utilise audit tools and technology to enhance audit efficiency and effectiveness.
- Ensure adherence to professional standards and the internal audit charter.
Fraud and Ethics
- Oversee outsourced fraud or special investigations and participate in the reviews and audits.
- Facilitate the establishment and monitor the Ethics Hotline and provide confidential reports to the Chief Executive Officer and/or Board Audit Committee.
- Champion ethical behaviour through training and the confidential use of the ethics hotline throughout the Agency.
Financial Management
- Develop and manage departmental budgets in alignment with organisational goals and priorities.
- Allocate resources effectively to support departmental operations, projects, and initiatives.
- Prioritise resource allocation based on strategic objectives, workload demands, and critical needs.
- Communicate departmental financial information effectively to facilitate decision-making and strategic planning.
General
- Undertake other such duties commensurate with the role and as directed by the Chief Executive Officer and Board Audit Committee.
QUALIFICATIONS & EXPERIENCE
Qualifications
- Bachelor’s degree in Accounting, Finance, Business Administration or a related qualification from a recognised institution.
- A professional internal audit or accounting qualification from a recognised institution would be an added advantage.
- Membership and in good standing with BICA and/or IIA.
Experience
- A minimum of 8 years’ experience in audit. This must include a minimum of three (3) years in a managerial or supervisory role.
- Strong knowledge of internal audit and control frameworks, risk management practices, and auditing standards.
- Experience in conducting all types of audits (operational, financial and IT).
- Experience establishing internal audit plans, programs, policies and procedures and supervising audit teams.
Closing date: 01 November 2024