Full-Time Head, Internal Audit
Role Name: Head, Internal Audit
Reporting to: Board Audit & Risk Committee Location: Lagos, Nigeria
The role is responsible for the internal audit function of the Company . Key objectives are to drive, develop, review, and enforce risk policies, audit, and procedures, as well as provide independent and objective assurance on the adequacy and effectiveness of the organization systems and controls to mitigate risk and ensure compliance. Other responsibilities include ensuring Internal audit is closely aligned with industry best practices with the goal of improving business performance through risk management and control.
1. COMPANY BACKGROUND
The Group is investing in Africa.
2. CORE FUNCTIONAL RESPONSIBILITIES
- Develop and continuously review the Internal Audit Charter, Manual, Policies, Procedures and Systems for the Department.
- Formulate the comprehensive annual Risk-based Audit plan based on instructions from the audit committee and quarterly audit work plans.
- Assess and re-assess the effectiveness of the internal controls in place to mitigate risk exposure, ensure the integrity and reliability of information reporting, safeguard company’s assets, and comply with Internal audit regulations.
- Ensure and report on compliance with Board resolutions, set policies and existing internal controls in the organization and continuously manage risk and ensure compliance to Statutory and Legal Requirements
- In conjunction with C-suite of the company prepare a risk register of the high risk, high value items that require more audit attention and present to the audit committee.
- Plan and execute internal audits, review audit data and examine business operations liaising with respective Department Leads/Process Owners, in line with the timelines and instructions received from the audit committee.
- Monitor and evaluate corrective action taken by Process owners reported through audit findings. Continuously monitor the Group strategy and ensure appropriate management policies and procedures have been formulated and that also activities are properly aligned.
- Prepare clear, concise and pertinent reports and schedules for Audit & Risk Committee and management that explain the issues and make practical and cost-effective recommendations for improvements and efficient allocation of resource.
- Conduct follow up reviews to evaluate the extent of implementation of the recommendations agreed on to ensure that they are implemented on a timely basis. Enhance internal control awareness through inhouse training sessions, ad-hoc advice, etc
- Liaise with senior management to continuously update the Risk registers.
- Prepare reports of audit findings and make presentation/recommendations to management.
- Attend quarterly subcommittees, main board and any special board committees as required. Act as Secretary and sit in on the Audit and Risk Committee meetings.
- Prepare quarterly audit committee reports for Audit and Risk Committee highlighting audit finding and recommendations of internal control environment as well as any other matters requested by Management or the Audit & Risk Committee.
- Liaise with relevant external advisors, auditors, and partners, avail Internal Audit documentation to External Auditors as requested. Support Externa Auditor’s recommendations, as state in their Management Letter.
- Special investigations and other special requests from management or the Audit & Risk Committee and ensure that the related weaknesses are identified, promptly communicated and effective corrective measures are put in place.
- Lead in special assignments and investigations e.g. alleged financial irregularities, fraud, corruption and deliberate breaches of controls and systems, and ensure appropriate liaise with law enforcement authorities and ensure implementation of recommended changes to the internal workings of the Group
Relationship Management & Other Tasks
- Relate with various departmental heads & staff to obtain relevant data & info.
- Relationship with the external auditors to ensure synergistic and symbiotic relationship.
- Carry out any further tasks for which your qualifications & experience are suited and as may be directed by management or the Audit and Risk Committee of the Board.
3. KEY INTERACTIONS
- As the need may arise
- ED (Finance, Admin, Strategy)
- Billing & Credit Control Managers
- Other departmental heads & staff
4. TECHNICAL SKILLS AND EXPERIENCE
o Minimum of Master’s degree; MSc or MBA with specialisation in Accounting, Finance or Economics
o At least one of (i) CIMA, (ii) ACCA or (iii) a master’s degree in Accounting or Finance or Chartered Accountant from England and Wales.
- KNOWLEDGE & SKILLS
o Good audit and analytical skills.
o Ability to work with & analyse big financial & statistical data.
o Advanced MS-Excel & modelling skills are desirable.
o Ability to use presentation tools such as Power Point will be an advantage.
o Good knowledge of audit techniques, accounting and accounting standards; IFRS.
o Good at using accounting software. ORACLE is an added advantage.
o 6-10 years of accounting, finance & analytics work experience. Last 2-3 years should particularly be in Internal audit practice
o Experience in a Big Four Accounting Firm or a Blue-Chip Multinational is required.
o Experience in healthcare sector (Hospital or HMO) is an added advantage.
o Unquestionable professional ethics
o Trustworthiness / Honesty / Integrity
o Dedication / Proactiveness / Self-Motivation.
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