Head, Internal Audit at CMB Building Maintenance and Investment Company Limited

Job Purpose

• To provide independent assurance that internal operating controls put in place to safeguard the organization’s assets are working and being complied with.
• To also add value and optimize our operations through systematic and disciplined approach to maximizing the effectiveness of our risk management, control, and governance processes.

Organisational Relationships:

• Reports to: Group Managing Director
• Direct reports: Internal Audit Officers and Supervisors

Key Responsibilities

• Develops internal audit and control strategies, policies and procedures to enhance discipline in the business operations.
• Prepares annual internal audit plans and programmes indicating scope, approach, and resources requirements for each financial year for approval by the Executive Management.
• Coordinates the conduct of regular audit of operational units to ensure compliance with the laid down policies and procedures of the organization.
• Develops and updates the internal audit operating procedures manual.
• Liaises with all Business Units and subsidiaries to ensure successful implementation of audit plans.
• Coordinates the execution of special audits or investigations on any significant breach of the Group’s laid down procedures, policies and suspected fraud cases as requested by Executive Management.
• Presents the results of the audit investigation and the implementation timetable of the audit recommendations to Executive management with appropriate improvement solutions.
• Serves as the key contact with External auditors, and ensures the efficient and effective annual process of external audit.
• Partnering effectively with third parties, regulatory bodies and others as appropriate and serving as a role model for high personnel and corporate ethical values and standards of integrity.
• Carries out audit of the Head Office, branches, subsidiaries and construction projects periodically.
• Prompt identification and resolution of operational lapses and reconciliation issues.
• Ensuring all financial transactions are checked for accuracy, reliability and authorization.
• Ensure adherence to the following requirements:
  • Management Policies organization-wide
  • Internal Audit Procedures Manuals
  • Standards including work papers, file set up, letters, spreadsheets, etc.
• Ensures the implementation of the recommendations from the External auditors with approval from the Board of Directors.
• Provides technical inputs and guidance to the Board of Directors during annual evaluation of the effectiveness of the external auditor.
• Perform other duties as required by the GMD.

Person Specification

• Our ideal candidate will possess a thorough knowledge of accounting procedures, a commitment to excellence, and a sound, data-driven sense of judgment.
• This candidate will have the skills and sensibilities vital to the successful performance of all duties regarding the full audit cycle, including risk management and control management of operational effectiveness and financial reliability. A deep commitment to compliance with all applicable directives and regulations is a must as well.

Qualifications

• First degree in Accounting
• Professional accounting certification, e.g. ACA, ACCA, CPA, CIMA, CISA or other relevant higher business degree as an added advantage
• Minimum eight (8) years internal audit experience in a reputable organization, with at least three (3) years at managing the strategic direction of a business risk unit.
• Auditing Experience in real estate/construction industry is required.

Key Skills and Competencies:

• Excellent knowledge of business controls and auditing.
• Knowledge of risk management and regulatory guidelines.
• Analytical, problem solving and decision making skills.
• Excellent interpersonal and negotiation skills.
• Presentation and communication skills.
• Ability to stand firm on difficult issues when required.
• Capable of working independently and with minimum supervision.
• Ability to prioritize multiple assignments.
• Displays awareness of the need for confidentially in sensitive matters.
• Ability to demonstrate integrity, credibility and responsibility.
• Good knowledge and hands on practical experience and use of accounting packages and systems.
• Good decision making and problem solving skills.
• Good leadership and people management skills.