The Internal Audit Officer will support the Head, Risk and Assurance in providing an independent evaluation of the activities of the Company and its related entities, centrally coordinating all audit and control activities within the investee companies and ensuring strict adherence to the Company’s internal policies and procedures as well as regulatory and statutory requirements in order to promote transparency and accountability, add significant value, enhance risk management,
governance and compliance, improve operational efficiency, and strengthen the internal control systems within the operations.
- Assist in the development, maintenance, implementation and review of the internal audit work programmes, audit plan and risk register and drive the development, deployment and update/review of the charter, manual, relevant policies and other frameworks for the Internal Audit Function.
- Establish effective business relationships within the Company and assist management in the understanding/application of and adherence to internal control, risk management, compliance and governance principles.
- Perform audits through the review of physical and electronic records, evaluate the level of compliance with established business control policies, processes, procedures, standards, laws and regulations in assigned functional areas/business units, identify control weaknesses or process improvement opportunities and initiate workable solutions.
- Document and file work papers and audit procedures performed. Track timely and effective corrective actions taken following audit recommendations.
- Maintain back up (physical and electronic) of all internal audit materials for easy retrieval and reference and monitor the document management process across the Company.
- Assist in risk assessment, monitoring and reporting.
- Monitor and drive compliance with regulatory and statutory requirements across all business areas.
- Conduct monthly review of bank reconciliation statements for all existing bank accounts and monthly call over/review of transactions focusing on appropriate posting of transactions and ensuring compliance with statutory deductions.
- Investigate and report all alleged cases of fraud, waste, abuse and inefficiencies and make recommendations on appropriate preventive or remedial actions.
- Participate in stock counts and follow through to ensure that store balances are reconciled to the general ledger; conduct physical verification of property, plant and equipment (PPE), and monitor the disposal of PPE as directed by the Board.
- Implement the internal audit strategic initiatives relating to key responsibilities.
- Carry out other responsibilities as may be required by the Head, Risk and Assurance, Management or Board.
- Good verbal and written communication skills
- Computer Literacy
- Analytical and Critical Thinking Skills
- Hard work and Quality Focus
- Honesty and Reliability
- Collaboration and Resilience
- Objectivity and Independence
- Passion and Commitment
- Innovation and Attention to Detail
- Information Technology (IT) General
- Result-orientation and Accountability
- Minimum of first degree in Accounting, Finance, Business Administration, Economics, or a related numerate discipline.
- Relevant professional certification e.g. Associate of the Institute of Chartered Accountants (ACA) or Associate of Chartered Certified Accountants (ACCA).
- Minimum of 2 years of experience in the internal control/audit function,
- preferably in the financial services industry.
KEY PERFORMANCE INDICATORS (KPI)
- Adequacy of internal audit plan.
- Level of execution/achievement against internal audit plan.
- Accuracy, timeliness, and completeness of reports.
- Number and significance of issues/ inconsistencies and process improvement opportunities identified in business processes.
- Frequency of incidences of control failure.
- Adequacy and timeliness of follow-up on regulatory and statutory filings.
- Magnitude of calculated losses due to fraud and other control failures.
- Number or frequency of queries.
- Number of unresolved cases to identified issues.
- Adequacy of document management.