MANAGER - INTERNAL AUDITOR

Job Title:

Manager – Internal Auditor

Date Reviewed:

Division:

Audit Committee of the Board/Office of the Chief Executive Officer

Department: Internal Audit

Job Purpose

The Manager-Internal Audit reports functionally to the Audit Committee of the Board of Directors and administratively to the Chief Executive Officer and will be accountable for:

• Designing, developing, and establishing appropriate audit and internal control systems and procedures for the company to mitigate risks and in accordance with auditing best practices.
• Establishing a risk- based compliance framework to mitigate organisational-wide risks.

Accountability

The Manager Internal Audit will be accountable for:

• Minimising organisational risks by developing and maintaining Internal Audit (IA) policies and procedures, assessing business risks, developing, and maintaining strategic and operational risk- based audit plans.
• Developing an annual audit plan and ensuring timely and efficient completion of the activities in this plan.
• Establishing and maintaining an Annual Compliance Programme, disseminating compliance policies and procedures, and completing and submitting to the Audit Committee of the Board interim reports on TTLs compliance with AML/ CTF regulations.

Key Duties

1. Develops auditing systems and procedures to track and verify the soundness of all financial and operational transactions.
2. Develops and maintains a comprehensive Audit Manual to cover financial, operational, and electronic data processing risks.
3. Plans and conducts performance, operational and financial audits.
4. Develops an Annual Audit Work Plan for approval by the Audit Committee of the Board.
5. On a periodic basis, tests the efficacy of the internal controls of the company’s departments relative to its stated policies and procedures and identifies business process risks.
6. Follows up with departments post audit exercises to determine whether corrective actions have been undertaken.
7. Communicates audit findings and recommended corrective action to the Audit Committee of the Board and the Chief Executive Officer.
8. Makes recommendations, provides advice and opinions to Management to ensure compliance with accounting and operational best practice.
9. Reviews all new systems prior to implementation and makes recommendations for improvements in risk management and process efficiency.
10. Provides assistance to the Board and /or Chief Executive Officer on special projects.
11. Liaises with the external auditors and regulators on the effectiveness of internal controls and provides the necessary assistance as required.
12. Establishes, manages, and promotes the standards of the Internal Auditing Activities (IAA), e.g., discussing audit reports with departments involved prior to finalising the report, and ensures compliance with statutory requirements.
13. Trains and develops and coaches subordinates to create and maintain a high level of productivity in the department and to ensure departmental targets are achieved.

13. Achieves budget and other performance targets for the Audit Department.

Competencies

Core Competencies: Proven capabilities at a high proficiency level in: Service Excellence, Partnering, Creativity & Innovation and Accountability.

Leadership Competencies:  Strategic Thinking, Business Focus, Impact and Influence, Results Orientation, Decision-making, Planning and Organizing, Team Leadership; Developing Others and Attention to Detail.

Role Specific Competencies: Auditing, Analytical thinking, Financial and Management Accounting, attention to detail, information seeking and processing and accurate and reliable reporting.

Qualifications and Experience

 Required Education, Knowledge, and Experience:

• University Degree in Business/Industrial Management, Accounting or Finance or ACCA/ACMA or equivalent qualification.
• Certified Internal Auditor (CIA) or Certified Internal System Auditor (CISA).
• Member of the Institute of Internal Auditors of Trinidad and Tobago Chapter would be an asset.
• A minimum of eight (8) years’ experience in Financial, Operational and EDP Audits in a business environment, of which   five (5) must be at Managerial level.
• Knowledge of the laws and regulations governing the company’s operation.
• Knowledge of Risk Analysis Methodologies.
• Knowledge of FIU Regulations and Associated Legislation on AML/ CTF.
• Knowledge of the Exchequer and Audit Act and other legal frameworks that govern the operations of governmental institutions.
• Knowledge of the governance requirements of State Enterprises and Government Agencies.

In addition, the incumbent must possess the following proven capabilities:

• Proven Success conducting audits.
• Well-developed analytical skills.
• Proven communication and interpersonal skills.
• Effective time management and organizational skills.

Reporting Relationships:

Reports administratively to the Chief Executive Officer and functionally to the Board of Directors. Supervises the Audit Officer and Administrative Assistant.