Vacancy: Head, Internal Audit

Job Description

Section/Department: HEAD OFFICE

Organizational Relationships

• Reports to: The Audit committee of the Board


• Responsible for the Audit in the department subordinate employees in the auditing department. This includes training employees; planning, assigning, and directing work;


• Liaises with: Heads of other units as ICT, Risk and Credit compliances and Branch Manager to develop best practices for successful banking operations


• Demonstrate Evidence of participation in implementation of the Strategic Plan of AgRB.

Basic Functions

• Responsible for the overall internal audit program for the bank, and operating independently of other departments.


• Administers the Audit Policy, and coordinates the activities of the bank’s external auditors.


• Perform other related duties as required to meet ongoing needs of the bank. 


• Set up Audit desk in all branches/agencies.

Scope and Duties and Responsibilities 

Administration

• Develops and implements internal auditing policies, procedures, and programs. 


• Reviews of accounting procedures.


• Advises top management and the Audit Committee of the Board  on audit  and internal control matters


• Investigates and determines causes of irregularities and errors.


• Verifies the existence of assets and recommends proper safeguards for their protection:


• Follow-up on issues raised to ensure management progress actions within the agreed time scales. 


• Provides an independent challenge to the business view of risk as per the Bank’s policies.


• Recommends corrective action and suggest improvement.


• Supervises or conducts independent audits of bank records and activities, and prepares variance analyses of the departments and branches for management/ Board.


• Discusses the findings of audit reviews with management on a constructive basis in order to develop the most appropriate, proportionate solutions to issues arising.


• Investigates reported occurrences of fraud, embezzlement, theft, waste, etc.

Quality Management

• Evaluates the adequacy of the system of internal controls.


• Recommend improvements in controls;


• Supervises, conducts, and reports on the testing and adequacy of the Bank’s internal controls over financial reporting.


• To report the results of audit reviews, including management responses and proposed action plans, to the Board.


• Surveys functions and activities in assigned areas to determine the nature of operations and the adequacy of the system of control to achieve established objectives.


• Applies a risk-based approach to the review of the systems and controls of the Bank through the development of an annual programme of audit review work. 


• Effective implementation of audit and regulatory reports

Professional Development of Management and Staff

• Promotes the training of subordinates in the Audit department.

Research

• Initiates and directs relevant evaluative research activities in AgRB.


• Contributes to progress of AgRB concerning development or revision of existing policies, procedures and practices, basing all recommendations on evidence.

Management Skills

• Accountable for the development and coordination of the Bank’s internal auditing activities.


• Assess compliance with regulatory requirements and contractual obligations


• Assess compliance with policies and procedures and sound business practices;


• Review operations/programs to ascertain whether results are consistent with established objectives and whether the operations/programs are being carried out as planned;


• Perform ad hoc investigations and reviews at the request of the Audit Committee

Miscellaneous

• The Internal Auditor performs any other professional duties as may be assigned.

Required Skills or Experience

• 
  Must be a holder of Bachelor or Masters (Preferred) degree in Banking and Finance or related field from an accredited University.

Professional Experience

• Minimum of five (5) years’ experience post-higher degree in practice in Auditing, 


• Auditing skills and a presence that command the respect of peers, with mature auditing judgment and the capacity to provide professional leadership.


• Auditing experience to be able to set up and supervise agencies/branches with the over-sight from head office operations.


• Proven capacity to effectively accomplish and excel expectations in respect of the duties described herein. 

Specialized Knowledge

• Adequate command of English for effective development of reports and their meaningful communication to all concerned. 


• Comprehensive knowledge of policies and procedures and Government laws and regulations on Auditing including a thorough knowledge of conflict of interest and related ethics.


• Ability to adapt effectively to unexpected situations in AgRB.