The position is responsible for managing internal audit function, to provide independent and objective assurance on the management of risk throughout the organization based on audit standard.
Additionally, as part of its secondary responsibilities, the function will on behalf of the management, participate in developing process improvement/ quality enhancement initiatives.
The focus of this position is to identify and report to various levels of management, risks, adequacy of internal controls and to facilitate process improvements through audit and consultancy activities in protecting the company assets
Job TasksDepartmental Planning:
Develops an annual audit plan using input from the team and stakeholders to identify priorities and resource requirements for the year. Annual audit plan to cover all activities of QUARA Finance.
Meets with Heads of the Departments to discuss needs and propose audits, to build stakeholder requirements into department plans.
Ensures plan is developed to meet the Audit & Compliance Committee expectations, and supports the Audit & Compliance Committee in meeting its governance and control related responsibilities
Develops the standard risk based annual Audit Plan for approval by the Audit & Compliance Committee, focusing on key critical areas.
1
Schedule and assign audits to team members, ensuring effective and efficient use of resources.
Delivers high quality, audit and advisory services that fulfil the departmental mandate, whilst managing client expectations.
Identifies and promotes modern audit practices, including use of on-line/ computer-assisted audit tools.
Establishes Key Performance Indicators, and captures relevant information, for measuring and reporting on the performance and organization impact of the Internal Audit function.
Ensures annual audit plans have contingency built in, to provide unexpected audits to clients as they may surface, and may conducts special assignments as determined by the Audit & Compliance Committee.
Reviews and assesses monthly/quarterly management reports from departments, attends meetings and provides feedback on critical areas.
Planning Audit Assignments:
Plans consolidated quarterly audit calendar.
Implements audit calendar, assigns staff, reviews work programs, monitors audits in progress.
Reviews the quality, completeness and documentation of audit work, the validity of findings/conclusions and practicality of recommendations.
Reviews findings in draft audit reports after the audit supervisor/ manager has incorporated the comments/action plans of the client in the final audit report.
Manages financial & operational audits.
2
Manages IT systems audits.
Manages quality assurance reviews focusing on policies and process improvements and participating with department managers in development/documentation of efficient business processes.
Consults with all levels of Management and builds consensus on critical policy, internal controls and process related matters in order to achieve desired improvements in business efficiency and risk mitigation.
Ensures that policies & procedures manuals are being reviewed by the respective audit supervisor/ manager and input is provided as to their adequacy.
Management Reports:
Reports directly to the Audit & Compliance Committee and attend the Audit & Compliance Committee meetings as required.
Submits Internal Audit work plan on annual basis with quarterly updates incorporating any changes to the approved annual work plan.
3
Submits quarterly report on work achievements compared to the approved plan.
Submits quarterly report on implementation status of key critical risk areas and other major audit findings related to policies, internal controls, risks and process issues.
Achievement of Business Plan Objectives:4
Contributes to the achievement of company objectives through compliance audits, controls assessment reviews and advisory services.
Staff Management & Knowledge Transfer:
Manage and oversee team performance through performance planning, coaching and performance appraisals.
Provide ongoing feedback to the team to ensure they develop the skills and competencies required for effective planning and individual professional and personal career growth.
Mentors and supervises staff providing on-the-job training in order to develop skills.
Deal with performance issues, discipline as necessary and address poor standards, ensuring department targets and customer satisfaction is not compromised.
5
Motivate and inspire the team by providing them with the information and tools they need to do their jobs well and meet customer expectations.
Manage the head count, recruiting and deploying resources as required, to ensure the department budget is balanced and the right mix of skills and strengths are being leveraged as effectively as possible.
Hold direct reports accountable for managing and developing their assignments to ensure the department?s goals are achieved and customers satisfied.
Develops and implements a continuing education program to maintain and improve audit staff skills.
