DIRECTOR, INTERNAL AUDIT

JOB OVERVIEW

To direct and manage a comprehensive audit programme at the Institute providing internal audit assurance and consulting services to Management and the Governing Council, and ensure the internal control systems adhere to acceptable principles and professional standards including those relating to risk management and corporate governance, financial regulations, NIPA Act, and with established policies and procedures in order to safeguard the assets and resources of the institute.

Key Responsibilities: The Director shall:

a) Direct and guide in the preparation of the Annual Work Plan based on the Audit Universe Risk Assessment, prior years’ significant findings, and the Strategic and Implementation Plans.

b) Implement internal audit strategies and programs aimed at providing an independent and objective opinion to management and the Governing Council on risk management, internal controls and governance.

c) Prepare individual annual work plans based on the approved Departmental Annual Work and ensure work is done accordingly.

d) Review reports in a timely manner for submission to management and the Governing Council and ensure timely implementation of recommendations made

e) Direct follow up action on implementation of outstanding matters and report to the Governing Council.

f) Coordinate the submission of reports to the Executive Committee/ Management and the Audit and Systems Committee.

g) Manage the internal audit function from planning, execution, review work done by subordinates, reporting, follow up and implementation of recommendations.

h) Review and ensure that audit work and programmes conform to professional practices and standards. Provide guidance, capacity building and on the job training to staff

i) Carry out and conduct annual staff appraisals

j) Attend and contribute effectively to the Executive, Management and Committees of Council meetings

k) Ensure that the internal audit function has adequate resources to enable it carry out its mandate

Qualifications and Skills Requirements:

a) Degree in Accountancy, ZICA, CA, ACCA, CIMA, and Certification by the Institute of Internal Auditors. An MBA is an added advantage.

b) Minimum of 8 years of relevant experience in accountancy and auditing, with at least 5 years at a senior management level.

c) Must quickly and objectively comprehend tasks, work independently with audit team members, and possess extensive skills in negotiating and resolving complex issues, developing, and reviewing auditing criteria.

d) Must understand the Institute’s control environment, strategies, and challenges. GAP analysis and improvement suggestions should be appropriate, realistic, cost-effective, and aligned with operations.

e) Proficient in mathematics and application of formulas, able to recalibrate figures, develop and use tables, ratios, graphs, and computer spreadsheets. Must be able to create models, make computations, and prepare reports within deadlines.

f) Responsible for monitoring the proper usage and physical existence of the Institute’s assets to safeguard and report any misuse or loss.

g) Expected to monitor revenue generation, ensure proper accounting and utilization per approved budgets, and report anomalies.

h) Responsible for supervising subordinates, setting performance targets, conducting appraisals, and maintaining departmental discipline.

i) Must attend various meetings on audit and management issues, making presentations to the Governing Council and other stakeholders.

j) Required to present data in sufficient detail based on facts, avoiding technical jargon, using tables, ratios, and graphs effectively.

k) Must have good interpersonal and interactive skills for dealing with individuals within and outside the organization.