Head, Internal Audit at Fadac Resources

Job Objective

• To lead and execute a comprehensive, risk-based internal audit function covering all areas of the business, ensuring financial integrity, regulatory compliance, operational efficiency, fraud prevention, and effective governance across the entire organization.

Duties and Responsibilities
Audit Strategy & Annual Planning:

• Develop and implement a risk-based annual audit plan covering all business units, including downstream operations, finance, HR, IT, procurement, legal, commercial, and head office functions
• Align audit priorities with organizational objectives, enterprise-wide risks, and regulatory requirements
• Present the audit plan to the Board Audit Committee for approval and provide regular updates on progress and findings

Financial Audits (Entire Organization):

• Conduct independent audits of financial statements, general ledger, accounts payable and receivable, payroll, treasury, and cash management across all entities
• Review financial controls at head office, regional offices, refineries, terminals, and retail stations
• Assess the accuracy of financial reporting, budget compliance, and adherence to accounting standards

Operational Audits (All Business Units):

• Audit operational efficiency and effectiveness across downstream production, logistics, retail, commercial sales, and support functions
• Review inventory management, asset utilization, maintenance programs, and service delivery standards
• Identify waste, leakage, or process inefficiencies and recommend cost-saving or revenue-enhancing improvements

Compliance & Regulatory Audits (Enterprise-Wide):

• Ensure compliance with local and international laws including tax regulations, petroleum industry rules, environmental permits, labor laws, data protection acts, and anti-bribery statutes
• Audit adherence to internal policies, codes of conduct, and delegated authority limits across all departments
• Prepare compliance reports for regulators and support external regulatory inspections as required

Fraud Investigation & Forensic Audits (All Functions):

• Lead investigations into suspected fraud, theft, bribery, corruption, expense abuse, payroll fraud, procurement collusion, or product diversion across any part of the business
• Conduct forensic audits of retail station cash sales, procurement kickbacks, travel and entertainment claims, and vendor payment irregularities
• Recommend control improvements and disciplinary actions based on investigation findings, and coordinate with legal or law enforcement when necessary

Procurement, Contracts & Vendor Audits;

• Audit the end-to-end procurement cycle including vendor selection, tendering, contract awards, purchase orders, goods receipt, and invoice matching
• Review contract terms, pricing, performance against service level agreements, and conflict of interest declarations
• Audit third-party vendors, contractors, consultants, and service providers for compliance with contractual obligations and pricing integrity

Audit Reporting, Follow-Up & Enterprise Risk Management:

• Prepare clear, concise audit reports with findings, root causes, risks, and actionable recommendations for department heads and the Board Audit Committee
• Track management’s remediation progress across all business units and verify closure of audit issues through follow-up reviews
• Facilitate enterprise-wide risk management workshops to identify, assess, and mitigate key strategic, financial, operational, and compliance risks.

Qualifications Required

• Minimum of a first degree in Accounting, Finance, Business Administration, Economics, or any related discipline
• 8 – 10 years of previous experience in internal audit in downstream operations, with at least 3 – 5 years in a leadership role
• Professional certification such as Certified Internal Auditor, Chartered Accountant, Association of Certified Fraud Examiners, or Certified Information Systems Auditor
• Proven track record in fraud investigation, forensic auditing, or financial auditing across diverse business units
• Strong understanding of internal control frameworks and enterprise risk management methodologies
• Experience managing audit budgets and timelines
• Expert knowledge and use of Microsoft Office Suite and audit management software.

Skills and Competencies:

• Strong knowledge of enterprise-wide audit practices across all business functions
• Expertise in fraud detection and forensic investigation techniques
• Excellent report writing and presentation skills for Board-level audiences
• Proven ability to lead and develop an internal audit team
• Strong analytical and data-driven decision-making abilities
• In-depth understanding of internal control and enterprise risk management frameworks
• Effective stakeholder management across finance, operations, HR, IT, procurement, and retail
• Ability to manage multiple audit projects simultaneously and meet deadlines
• High level of integrity, objectivity, and professional skepticism
• Experience auditing information technology systems and cybersecurity controls.