The Internal Audit Manager’s role is to draft and execute the annual internal audit plan, prepare the internal audit budget for approval and manage the budget monthly (variance report and forecasts). Manages and conducts operational, financial, and compliance audit projects; completes audit projects in accordance with the Company’s Internal Audit methodology and in line with the Institute of Internal Audit (lIA) standards.
Provides consulting services to organisational management and staff in accordance with the internal audit plan or upon request by management on an ad hoc basis. The key responsibilities will include:
1. STRATEGIC INITIATIVES
Continuous Improvement
- Keeps current with developments in the field of auditing, including the Institute of Internal Audit (IIA)
Standards and the Company’s Internal Audit Methodology - Maintains compliance with the Institute of Internal Auditors Standards for the professional practice of internal auditing and the Code of Ethics
- Keeps current with developments in the financial services industry, such as accounting issues, regulatory environment, etc. and incorporates them into daily work
- Continually assesses personal and professional behaviour against the principles set out in the lIA
Code of Ethics. - Keeps abreast of industry developments about fraud risk and risk management practices through self-study and attending industry forums
2. OPERATIONAL
Plans and Executes Internal Audits
- Prepares annual IA budget for review by the Chief Executive Officer and the board
- Develops an internal audit plan based on business objectives and high-risk areas to ensure the internal and financial control environment
- Evaluates risk and related operations to determine areas of highest exposure with the intent to maximise audit coverage
- Executive to limit duplication of effort and synchronise work deliverables
- Prepares specific audit program and time schedules to accomplish tasks and/or individual assignments
- Performs planned audits in accordance with the approved audit program to test the adequacy and effectiveness of controls to mitigate risk and achieve the business/control objectives
- Assists in or coordinates efforts of outside audit firms and regulatory agencies
- Performs quality reviews on working papers to ensure compliance with the Company Internal Audit Methodology
- Prioritises ad hoc requests for completion in terms of expectations whilst managing audit projects and responsibilities
- Displays multi-tasking and prioritisation abilities through adequate knowledge and understanding of the business strategies and risks
Reporting
- Documents findings and recommendations on affected departments and prepares draft reports.
- Evaluates responses to reports for reasonableness and assists in or prepares the final report to senior management with analyses, recommendations, counsel and information concerning the activities reviewed
- Responsible for the interim and year-end audit assistance with a certified public accounting firm
- Internal audit reports and other communications consistently display a high level of understanding of governance, risk, compliance and internal auditing principles.
- Attends industry forums to support self-development and share information accordingly
- Prepares audit reports for presentation to management and the Audit, Risk and Compliance (ARC) Committee.
- Develops and maintains a tracking register for previously reported Internal Audit findings, External Audit management letter items and other assurance provider reports such as Reserve Bank of Malawi.
- Develop an Internal Audit Charter that shall be approved by the board.
- Drafts and presents internal audit reports to management, Audit Committee and Main Board.
3. PEOPLE MANAGEMENT
- Directs Internal Auditors’ day-to-day audit activity, including the review of audit work papers, as to accuracy and adherence to departmental and IIA Standards
- Conducts performance review process for Internal Auditors and handles other HR matters (including training registers, leave management, disciplinary processes, etc.). Ensures Individual Development Plans (IDPs) for direct reports are documented
- Performs continuous reviews of team members’ output to ensure timely identification of intervention requirements
- Provides value-added input to the departmental training programme and communicates needs in this regard
- Develops action plans based on customer survey questionnaires to adequately address weaknesses and potential opportunities
4. STAKEHOLDER ENGAGEMENT
- Establishes and maintains effective communications and professional relationships with department management to identify and ensure key business objectives and risks are incorporated into the audit process
- Continuously works to identify and remove barriers to increased productivity, quality, cost effectiveness, timeliness of operations and customer satisfaction
- Consistently demonstrates high standards of integrity by supporting the Company’s mission and values and adhering to the Corporate Code of Conduct
- Maintenance of professionalism and confidentiality in interactions with business and or other assurance functions, whether internal and/or external
- Interaction and coordination with other assurance, Compliance Agencies, etc., resulting in efficiencies, control reliance and strong relationships to assist in achieving overall Company assurance objectives in a cohesive manner
The successful applicant needs to meet the following criteria:
1. Education
Minimum Qualifications:
B.Com Accounting / Internal Auditing degree, Honours degree in Accounting or Internal Audit
Desired/Preferred Requirements
CISA, CIA, CA (SA), ACCA, CRMA, CCSA will be an advantage
Certifications and Training Courses
Microsoft Excel and Word Intermediate Training Courses
2. Experience
Minimum Qualifications
- 6 years’ audit experience (Big 4 experience advantageous)
- 3 years’ minimum management/supervisory experience
- Knowledge of legislation that applies to the financial institutions, as well as insurance-specific legislation
- that may be relevant. Must keep abreast of changes to existing legislation and the introduction of new legislation
Industry Experience
• 3-4 years of financial industry experience
Please send your resume to weston@crowejw.com