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1 month ago

Job Summary

This position is a part of the Internal Assurance function. The Head, of Internal Audit, shall be responsible for the preparation and delivery of an annual audit plan which is commensurate with business risk, evaluation of the effectiveness of internal controls, risk management, and governance processes in all areas of the Payment Service Bank. The Internal Audit authority, role, and responsibility shall be defined in the Board approved Internal Audit Charter. The function is responsible for enhancing the overall state of internal control and governance standards in Smart Cash PSB. The role aims to provide assurance to senior management and the Board and Audit Committee on compliance to laid down processes and mitigation of key risks. The role is required to have a good understanding of the key risks in the business. This is essential to ensure adequate and effective audit coverage and remediation of identified issues across all functions. This will involve working closely with the Internal Audit service provider to drive quality execution of the approved audit plan. From time to time, the role may be required to perform selected reviews/investigations and drive fraud and control awareness programs in Nigeria. Since the work involves close engagement with all levels of management and staff and the Internal Audit service provider, it is important that the candidate has strong communication skills as well as a drive to implement changes.

  • Minimum Qualification:Degree
  • Experience Level:Management level
  • Experience Length:10 years

Job Description/Requirements

Responsibilities:

  • Improve the Internal Control Environment through active engagement with Senior Management and Management
  • Conduct periodic meetings with Functional Chiefs, COO, CEO, and other stakeholders to address the key audit issues and monitor the implementation status of management’s action plans.
  • Review control mitigation plans of Functions and ensure adequate and prioritized management attention on remediating known issues and preventing recurrences.
  • Ensure that audit issues are well understood by all levels of management and staff and that learning on fraud and control issues is shared amongst relevant stakeholders to prevent recurrences.
  • Guide the various function heads on the implementation of high-priority issues.
  • Audit management: Ensure audit planning is carried out so that resources in terms of quality and numbers, is in line with the requirement.
  • Maintain high engagement levels with the outsourced Internal Audit partners to ensure that the audit plan is delivered with the desired quality and within the agreed timelines
  • Ensure tracking and timely closure of audit issues in a sustainable manner.
  • Drive quality in audit reviews.
  • Ensure partners have established plans to drive the priorities of the internal audit activity, consistent with the organization's objectives.
  • Implement a system of tracking key project activities that impact on the delivery of the audit plan.
  • Implement a system of capturing and tracking audit issues per timelines agreed with respective functional heads/ chiefs, flagging and escalating delays in the implementation of improvement opportunities.
  • Conduct regular reviews of the audit work done by outsourced audit partners to validate the quality of audit work and reporting.
  • Identify any necessary changes to the audit methodology and ensure implementation in a timely manner.
  • Ensure quantification of losses/impact arising from lack of / ineffective controls.
  • Partner management
  • Ensure delivery of high-quality service.
  • Provide continuous feedback to partners (internal audit service providers) on the quality of audit work and deployment of resources.
  • Ensure training of partner staff in order that they are able to deliver the best quality
  • Provide proposals for improvement and support the implementation of changes.
  • Ensure there is a clear line of communication between the partner and Smart Cash PSB to facilitate issue resolution in an effective and timely manner.
  • Continuous communication with the teams during the period of the engagement.
  • Reporting to the Board Audit Committee
  • Maintain a calendar for the board audit committee meetings.
  • Consolidate information for reporting to the board on a quarterly basis.
  • Internal Audit reporting
  • Coordinate receipt and dispatch of all necessary documentation and communication.
  • Ensure all levels of review prior to dispatch of board papers.
  • Flash reporting for significant issues noted in ongoing reviews.
  • Preparation of all reports required for presentation to Smart Cash Senior Management.
  • Periodic reporting on the implementation of improvement opportunities noted in reviews.
  • Support/drive enterprise risk management.
  • Ensure ongoing dialogue with stakeholders and internally within the team to identify potential risks to ensure identification, assessment, and development of mitigation plans for key risks.
  • Identify good business practices and ensure these are shared with management for implementation.
  • Drive programs that promote risk and control awareness across the company.
  • Keep abreast of regional and international trends and identify new and emerging risks in the business and/or industry.
  • Provide guidance to other functions on risk management and compliance.
  • People management: Coach, mentor and manage audit resources (internal team as well as Partner’s staff) based in Nigeria.
  • Strengthen staff engagement for a high performance Internal
  • Assurance function: Attract and develop talent for the IA function
  • Continuous development of staff (including partner staff).
  • Ensure ongoing reassessment of skill sets required and supplement through recruitment or outsourcing.
  • Drive initiatives to address employee concerns (if any).
  • Ensure adequate progress on staff training & development, leveraging resources from internal, as well as external service providers.


Requirements:

  • Minimum academic qualification of a first degree or equivalent in any discipline.
  • Recognized professional Accounting certifications such as ACCA, ACA, etc
  • Minimum of 10 years experience in the financial management/accounting function, 5 of which must be in a senior position within the audit function
  • Excellent written & oral communication skills
  • Strong interpersonal skills and the ability to work in a team
  • Ability to manage a team (in-house and partner teams)
  • Good analytical skills
  • Goal-oriented, focused, energetic, and enthusiastic

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