Assistant Coordinator, Internal Audit & Risk Management at Nigerian Red Cross Society

Department: Internal Audit & Risk Management
Job Family: Support Services
Contract Type: Permanent
Reports To: Governing Board/Secretary General
Direct Reports: Internal Audit Officer
Version Number: 2

Job Summary

• The Assistant Coordinator Internal Audit & Risk Management will be responsible for developing, implementing and coordinating the National Society’s risk management strategy, ensuring compliance with control procedures and risk management frameworks through continuous identification, measurement and reporting of risk position.
• The Assistant Coordinator shall be responsible for evaluating the effectiveness and adequacy of internal controls, as well as planning audits and supervising audit teams in the performance of regulatory, financial, operational and special audits.
• This role also entails providing support in prioritizing and managing risks, which could be contextual, programmatic and institutional in nature.

Main Duties and Responsibilities
Strategic:

• Define the society’s risk management framework and establish guidelines for the development and implementation of supporting policies and procedures
• Incorporate risk considerations into strategic decision-making and ensure alignment between the strategic decisions of line management and the society’s risk policy
• Participate in the development of the society’s overall strategic goals and ensure that these are cascaded to the internal audit department
• Plan and implement the internal audit programmes in conjunction with Department Heads to ascertain and report on degree of compliance with the firm’s approved policies and operating procedures, laws, regulations and code of good practices
• Promote a culture of transparency and accountability in the firm’s operations
• Oversee the preparation of the Unit’s annual budget and monitor its implementation

Operational:

• Work closely with departments to facilitate the implementation of the society’s risk management framework, including the ongoing identification of risks, assessment of risks, definition of risk mitigation strategies, assignment of risk owners, monitoring and reporting on compliance with laid down policies and procedures on risk management
• Work with risk owners and managers, collaboratively, to develop risk mitigation responses in line with the agreed levels of risk tolerance
• Monitor and review the society’s risk management policies and procedures, methodology, frameworks and tools for continued relevance, and suggest amendments necessary to update them on an ongoing basis
• Monitor compliance with regulations as well as governance policies of the NS
• Ensure periodic re-evaluation of the society’s risk appetite within the context of its risk environment and make recommendations to the management team on the appropriate risk response(s) and their implications for the society
• Conduct periodic (scheduled and unscheduled) compliance checks across the society’s operations (HQ and branches) in accordance with NRCS laid down policies and procedures
• Recommend relevant sanctions and penalties for approval, based on outcomes of compliance checks
• Lead and execute audits independently and efficiently, including audit planning, testing, control evaluation, report drafting and follow-up and verification of issue closure
• Coordinate the execution of special duties/investigations of any significant breach of the NRCS code of conduct and suspected fraud cases as requested by the Board
• Plan the scope of work as well as the deadlines of each internal audit exercise
• Execute audits efficiently, including audit sample testing, controls testing and evaluation, report drafting and follow-up and verification of issue closure
• Develop a risk-based test plan by selecting appropriate audit approach, test procedures and sampling criteria based on professional judgement and departmentally defined internal audit methodology
• Propose practical and value adding recommendations to address control weaknesses and/or process inefficiencies identified during internal audit
• Coordinate year-end inventory count and periodic fixed asset verification exercises carried out by the internal audit supervisors
• Engage with the external auditors and support engagement with other areas of the firm
• Conduct follow-up reviews of and resolve control issues arising from internal and external audit exercises

Duties applicable to all staff:

• Work actively towards the achievement of the NRCS goals
• Abide by and work in accordance with the Red Cross Fundamental Principles

Key Performance Areas

• Audit planning, execution and Reporting
• Percentage implementation of annual audit plan
• Turnaround time of audits and investigations
• Timely and accurate rendition of audit/ investigation reports
• Quality of risk management framework and recommendations, control recommendations and reporting
• Internal compliance with standard operating procedures (HQ and Branches)
• Regulatory compliance by the NRCS

Qualifications and Experience

• First degree from a reputable institution in Business Administration, Accounting or Finance
• Relevant post-graduate degree
• Professional accounting certification, e.g. ACA, ACCA, CPA, CIMA, CISA, ICAN, CFA or equivalent
• Risk management certification is an added advantage.
• Minimum of 7 years relevant work experience, with at least 3 years in an Audit-related function at a reputable organisation, preferably a non-profit or humanitarian organisation

Skills and Competencies
Essential:

• Proficiency in Microsoft Office tools, and data analysis tools/ software
• Knowledge and ability to manage contextual, programmatic and institutional risk
• Clear understanding of enterprise risk management strategies, techniques and reporting applications
• Ability to identify and analyse problems and to think strategically to anticipate, interpret and develop strategic responses to issues that will result in the resolution of identified problems
• Expert knowledge of financial and accounting procedures, audit standards, procedures and techniques
• Good knowledge of fraud behavior and detection methodologies
• Broad spectrum understanding of the risks inherent in humanitarian operations
• Fluent in written and spoken English
• Comfortable and thrives in fast-paced, entrepreneurial, resources-constrained work environment

Behavioural Competencies:

• Capable of communicating analysis and insights effectively, and articulate when communicating
• Demonstrated success in relationship building internally and externally with a wide array of stakeholders
• Ability to build and protect reputation of self and society through the quality of work, knowledge and experience
• High ethical standards and honesty in handling the organizational resources and zero tolerance to corruption
• Culturally sensitive, globally minded and showing respect to the views and opinions of others
• Ability to collaborate and work well in a team
• Ability to work under pressure and meet deadlines.