Head of Internal Audit

Head of Internal Audit

Location: Egbin, Nigeria

Key Duties and Responsibilities:

• Identify and escalate strategic implications to the organization from audit engagement findings.
• Evaluate that significant risk exposures and control issues, including fraud risk and governance issues are covered in the final engagement communication.
• Communicate objectively audit engagement results to senior management and board members.
• Review the quality of business process analysis and process improvement recommendations.
• Evaluate implications of process design improvement recommendations on organisation’s strategic objectives.
• Assess whether the risk management and internal control systems are operational as intended.
• Review the completeness of management’s risk analysis and actions taken to remedy issues raised by risk management processes and suggest improvements.
• Evaluate risk exposures relating to the organisation’s governance, operations, and information systems.
• Communicate with senior management and Board on risk-related issues that may indicate weakness in risk management practices.
• Facilitate review of strategic and business risk issues and assess risk governance framework.
• Evaluate completeness and relevance of risk assessments.
• Review and approve audit engagement plans and evaluate the relevance and prioritization or focus of the audit plan and its alignment with IA and organizational strategies.
• Establish key performance indicators to measure the progress and performance of each initiative against expectations.
• Establish internal audit (IA) audit charter including IA terms of reference and service delivery approach.
• Lead and assess annual risk analysis to formulate risk-based audit plan and ensure adequate budget to support IA planned activities.
• Evaluate business insights, assess the strategic implications, make appropriate recommendations and communicate high-risks areas with process owners, Senior Management and Board.
• Monitor application of the “due professional care” Standard in performing audit activities.
• Engage the board and senior management on governance best practices and issues.
• Ensure adherence to ethical codes of practice when endorsing governance principles and policies to ensure organisational compliance to governance requirements.
• Assess the internal control framework and the adequacy and effectiveness of internal controls.
• Advise the board and senior management on improvement initiatives to improve controls.
• Advocate board and management to establish ethics and values within the organisation and set the tone at the top.
• Develop safeguards to maintain auditor’s independence.
• Evaluate the effectiveness of safeguards applied to eliminate or reduce identified threats of unethical behaviour.
• Implement data protection policies and practices of Egbin Power Plc.
• Ensure compliance with the NDPR and other data protection laws, and data protection policies.
• Undertake a Data Protection Impact Assessment as applicable to curb the risk during data processing operations.
• Take accountability for the establishment and effective implementation of Integrated Management System (ISO 9001:2015, 14001:2015 & 45001:2018) and support other relevant roles to demonstrate their leadership as applies to your areas of responsibility.
• Ensure strategic review of business processes in order to drive customer satisfaction and improvement.
• Engage, direct and support persons /units/departments to understand and identify hazards, risks, environmental aspect and Impact as it is related to their jobs.

Education and Work Experience:

• Bachelor’s degree in accounting, Finance or any relevant course.
• Postgraduate qualifications and professional certification are required.
• Relevant professional certification (e.g. CIA, ACA, ACCA, CIMA, CFA) is a must-have.
• Minimum of ten (10) years relevant work experience.

Skills and Competencies:

• Excellent understanding of the standards of the Institute of Internal Auditors (IIA) and ability to fully comply with IIA standards.
• Ability to manage projects and, when required, supervise auditors to follow sound internal control practices and to manage risks appropriately.
• Strong skills in negotiating, relationship building, problem-solving, and timely problem escalation.
• Excellent written and oral communication skills.
• Certified Internal Auditor (CIA) designation is preferred.
• Proficiency in MS Office (Word, Excel, PowerPoint).
• Proficiency in other accounting software & applications.
• Excellent time management and organizational skills.
• Good investigative skills.