AddressLead Internal Audit
- The Lead Internal Audit will build and manage a full risk based Internal Audit function and framework.
- Ensure that the function carries out its responsibilities as defined by the regulator, established policies and procedures as approved by the Board and sound national and international best practices.
- Ensure independent risk assessments for the purpose of formulating a risk-based audit plan covering risks at various levels/areas (corporate and branch, the portfolio, and individual transactions, etc.) as also the associated processes.
- Develop a strong assessment framework as well as enterprise risk management for reporting various business activities in the form of a functional audit. Will ensure that the risk assessment process includes identification of inherent business risks in various activities undertaken, evaluation of the effectiveness of control systems for monitoring the inherent risks of the business activities ('Control risk') and drawing-up a risk-matrix for both the factors viz., inherent business risks and control risks.
- Plan and supervises auditing programs. Develop and maintain the Internal Audit Procedures to ensure that best practice is taken account of and at the conclusion of audit visits provide a full briefing to the MD & CEO and to the board if required.
- Present the audit report to the CEO/ Heads of Function, highlighting any areas of concern.
- Review and evaluate corrective measures for satisfaction of audit findings as well as monitor adequacy of corrective procedures.
- Develop risk-rating systems for departments and comprehensive audit checklists.
- Check authenticity of transactions and adherence to systems and procedures.
- Verify that all statutory requirements are fulfilled by the organisation ensuring all necessary certificates, licenses and notices are in place
- Ensure final reports are issued with all recommendations agreed and accepted by the audited individual/group
- Prepare Internal Audit Program & Audit Calendar for Head Office and Branches.
Periodic assessment of internal controls, Risk framework, Developing & Implementing SOPs.
- Review the audit report with management & other stakeholders and suggest as-is and to-be process modifications.
- Assess compliance with defined processes and policies, gauge level of financial risks within organization.
- Develop and present reports that reflect the audits results and document process.
- Develop risk mitigation plans/strategies/mechanism to safeguard against potential fraud, waste, or abuse.
- Re-visit SOPs and suggest changes for improved controls and processes.
- Provide support to the external auditors.
- Review performance of direct subordinates and determine their development needs.
- Ensure direct subordinates are fully trained through constant on-the-job training.
