||Jan 19, 2017
REPORTS TO: BOARD & CHIEF EXECUTIVE OFFICER
- To develop, implement and monitor operational, financial and compliance audits in order to improve the effectiveness of risk management, control and corporate governance processes of the company Group in line with international best practice.
Strategy & Policy Development
- Provide technical expertise in the development and implementation of Internal Audit strategy and business plan as input into the overall corporate strategy of the Company.
- Provide leadership in the development of Audit Policies, standards operating procedures (SOPs), work plan, control standards and other support systems including monitoring mechanisms in managing the Group’s Internal Audit Department.
- Responsible for the development and review of the Company’s Antifraud programme and practices.
Audit Planning & Assessment
- Provide leadership and direction in monitoring departments and subsidiaries in areas of risk management, compliance with the Company’s policies, corporate governance, financial management and budgetary control measures to achieve targeted objectives.
- Responsible for the development of annual Audit plan using appropriate risk-based methodologies, for review and approval by Management and Board.
- Responsible for the implementation and monitoring of the Company’s annual Audit Plan at the Head Office and subsidiaries, including any special mandates or projects requested by Management and Board.
- Follow up on outstanding Management action plans to ensure that significant risks and major deficiencies identified are effectively addressed within agreed timeframe and standards.
- Lead and direct risks assessment of the Company’s operations and advise Management on appropriate remedial actions on systems of control.
- Evaluate the adequacy and effectiveness of the internal accounting procedures and operating systems and advice Management on remedial action.
- Responsible for monitoring the approved audit standards and principles within the Company’s operation to ensure compliance.
- Provide leadership on special investigations regarding operations of the Company at the request of Management and Board.
- Lead investigations on suspected fraudulent activities within the company and report findings and recommendations to Management and Board for further action.
- Conduct periodic assessment of departments and subsidiaries to identify areas of potential institutional risk.
- Responsible for overseeing the operational activities of audit at departments and subsidiaries.
- Supervise and co-ordinate the activities of all internal auditors in the Company.
IT Audit Management
- Monitor the operations of the IT Audit Unit to ensure the effective implementation of IT network infrastructure and software controls systems to facilitate operations of all departments and other operational areas.
- Undertake specific information system audit or relevant organisational and application software control at the Data Centre and other operational areas.
Stakeholder Relations & Management
- Stay abreast with new developments in corporate governance practices and advise Management and/or Board.
- Assess the effectiveness of the disclosure controls and procedures on a quarterly basis.
- Liaise with External Auditors to facilitate their audit work.
- Responsible for the preparation of the annual budget of the Group’s Internal Audit Department and monitor its implementation.
- Review and approve claims and bills for payments to service providers and contractors.
Information & Reporting
- Stay abreast with legislations, rules/regulations, international best practices and new developments relating to Internal Audit to facilitate and enhance the operations of the department and the Company.
- Responsible for the preparation of monthly, quarterly and annual audit report(s) to Management and other relevant stakeholders with appropriate recommendations on planned and special audits.
- Report to the Chief Executive Officer and Audit Sub-Committee at required intervals on Internal Audit assignments including planned reviews, investigations, risk advisory work and any other ad-hoc activity as required.
Employee Performance & Development
- Maintain a professional audit staff with sufficient knowledge, skills, experience and professional certification to meet the requirement of the company.
- Accountable for managing performance, succession development and resource allocation within the Internal Audit Department.
- Hold direct reports accountable for managing their assignments to ensure attainment of set targets and goals in all functional areas.
- Conduct performance appraisal and provide input for career development and recommend performance incentives for direct reports.
- Identify training needs and facilitate training for direct reports.
Required Skills or Experience
- Master’s degree or its equivalent professional qualification in Accounting, Finance or related discipline.
- Must be a member of a recognised professional body.
- Ten (10) years working experience with at least five (5) years in management position.
- Excellent knowledge and understanding in the use of audit and accounting methodologies and tools.
- In-depth knowledge and understanding of the Auditing and Accounting Standards and Regulations.
- Ability to prepare financial reports, analyse and interpret financial information reporting.
- Demonstrated leadership in audit and assurance or operational risk management.
- Good knowledge and understanding of the business operations of the company.
- Strong leadership, managerial, coaching, mentoring and interpersonal skills in a "team" setting.
- Strong analytical skills with sound decision making.
- Proven planning and organising skills.
- Excellent strategic planning skills.
- Strong negotiation and conflict management skills.
- Excellent communication and presentation skills.
- Ability to develop and maintain strong professional relationships with internal and external stakeholders and work effectively with all categories of employees.
- Absolute discretion in handling and dealing with confidential information.
- Excellent knowledge of project management.
- Ability to meet deadlines and execute projects.
- Ability to work in a fast paced and often pressured environment.
- Sound knowledge in the use of Microsoft Word, PowerPoint, Excel and internet and other auditing software and tools.
- Excellent knowledge and understanding of enterprise-wide accounting information systems.
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