Job Purpose
To lead a highly effective Audit and Investigations service to the Board of Directors, management and staff of the Bank and thus facilitate the IA function’s mission “To be recognised by all stakeholders in the Bank as a professional business partner delivering a world class internal audit service.”
Key Accountabilities
Define Risk Universe and Develop Overall Audit Plan
Independently assess the adequacy of systems and controls across the bank, including the system for the appropriate identifications & evaluation of the risks (Risk Universe) that could cause losses to NBF. Use the Risk Universe to develop the long-term and medium-term Audit Plans using risk assessment criteria and ensuring compliance with all applicable laws and regulations. Continuously monitor changes to the risk profile of the bank and adjust plans according to changing risks (internal and external environment). To draw any weaknesses or shortcomings noted to the attention of management.
Plan & Direct Audit Work
Develop the annual plan of audit review work. Plan assignments for the team by performing risk and control assessment to develop a Risk Control Matrix, detailing the tests required to analyse control effectiveness. Ensure the findings of audit reviews are discussed with management on a constructive basis in order to develop the most appropriate, proportionate solutions to issues arising. Report the results of audit reviews and conduct follow up to ensure management complete actions, escalating failure to progress actions as appropriate.
Audit Work Standards
Manage the team’s audit work to ensure that it is performed in accordance with the standards laid out by the Institute of Internal Auditors, the bank’s audit methodology and standards, and ISO9001 requirements.
Special Investigations
Lead the investigation of significant suspected fraudulent activities (cheque/wire, accommodation financing, forged documents, money laundering, bribery, equipment financing, cheques/invoice discounting, trade finance related, etc.) including whistle-blower cases within the bank.
Report to Management and the Board Audit Committee on findings and make recommendations for control improvements.
Other Accountabilities
Process Re-engineering and Improvement
Assess and evaluate the bank’s systems/processes/policies/ guidelines to identify weaknesses/inefficiencies and recommend process improvements, giving particular emphasis to industry Best Practices. Requires research and keeping updated with industry practices.
Internal Controls Subject Matter Expert
To provide an independent challenge to the business and promote risk management best practices. Expert advisor on risks/controls to various committees and project teams to ensure unmitigated risks are not introduced. Champion the effective control over risks in the Bank, by educating, providing guidance and direction, and ensuring new threats/trends are identified and addressed.
Vendor Management
Independent member of the Vendor Management Group which reviews and approves major purchases in the Bank and provides a key control in the purchase management process.
Corporate Governance
Critically evaluate and report to the Board of Directors through Head of Internal Audit on the effectiveness of Corporate Governance in the bank.
Staff Management
• Manage HR issues within the team.
• Follow a fair and time bound performance management process
• Upgrade and develop one’s own and others professional knowledge in order to enhance the quality of auditing and other skills. Ensure that Audit staff are provided appropriate training and are kept abreast of current developments in banking.
Other Accountabilities
Job Context
• The nature of the role requires the jobholder to be assertive in highlighting risks and communicating audit concerns and recommendations for control improvements to management who are sometimes resistant to perceived criticism of their area of responsibility. The audit work schedule is driven from a 3 year audit plan which is updated annually. The plan requires risk assessment on the audit entities identified as making up the audit universe.
• The role involves managing several types of special/whistle-blower/fraud investigations as necessary or requested by the Bank’s management or Head of Internal Audit or Board of Directors.
• The role involves providing guidance to Guest Auditors and Management Trainees.
• Deputises for Head of Internal Audit during absence and whenever directed.
Education
Experience and Skills
Professional Qualifications
CA/CPA/CIA/Other relevant auditing qualification
Work Experience
- 10 years’ experience in auditing and special investigations unit in banking/financial services environment.
- Has led audit/investigation teams on complex assignments.
- Involvement in projects/investigations/non-standard audits.
Skills
- Sound capability of understanding and doing a critical analysis of businesses/processes, evaluating risks/controls, and making risk mitigation and value adding recommendations.
- Ability to make sound decisions in a timely manner.