Head, Internal Audit at LandWey Investment Limited

Job Description

• The Head, Internal Audit has responsibility for overseeing the day-to-day activities of the IA Department. The job incumbent partners with Landwey’s management team and employees at all levels to achieve objectives consistent with the company’s corporate strategy and business goals.
• This is achieved by providing periodic independent assessments of the integrity of business processes, levels of compliance to lay down procedures and controls, and also the efficiency and financial regularity of company operations.
• The position incumbent champions the implementation of effective Risk Management policies, systems and controls across the company and oversees all periodic internal auditing activities, including EHS (Environmental Health & Safety) and systems audits.
• The objective is to provide continuous assurance that the business, systems and operational risk exposures the company may face are understood and managed appropriately within Landwey’s dynamically changing business landscape and environmental context.
• Finally, the Head, IA handles fraud detection, investigations and crisis management as may be required from time to time.

Key Functions & Responsibilities

Strategic

• Champions and direct the formulation and articulation of Landwey’s Risk
• Management philosophy, emphasizing the company’s risk tolerance levels/stance and threshold points for various elements of risk.
• Oversees the Internal Audit function as a whole and provides leadership direction to the department.
• Ensures Landwey is able to maintain the integrity of all business operations/ transactions and activities as the company grows, through the development, implementation and continuous monitoring of the risk management and control framework (systems, structures, policies and procedures)
• Ensures shared understanding of, and creates company-wide awareness about the various risks inherent in Landwey’s business context and operations and works with various employee groups to develop and execute effective risk mitigation strategies
• Facilitates the evolution of a strong and effective risk management culture across the company to ensure all business activities are carried out in accordance with relevant ● industry regulations, risk management standards and company policy

Operational

• Directs the execution of audit work plan and conducts the necessary supervision in accordance with the internal audit policies and procedures, prescribed audit objectives and generally acceptable auditing standards.
• Ensures the effective integration of Landwey’s Risk Management plan with day-to-day operations, and in so doing regularly interfacing with the various functional areas and employee groups to determine areas of mutual collaboration towards the achievement of compliance and business effectiveness objectives.
• Appraises the extent of compliance by various functional areas with policies, procedures, plans and legislation and monitors actions agreed to address areas of high risk and/or control lapses observed.
• Participates in the development of strategic and tactical plans which will assure long term growth, profit and operating efficiencies.
• Conducts appraisals of the adequacy/efficacy of the company’s internal audit strategies, structures, systems and procedures.
• Champions initiatives related to achieving improvements in the effectiveness of the company’s risk management and internal audit strategies, philosophies and systems
• Evaluates the adequacy of controls in the company's business operational systems.
• Reviews systems and procedures across all business areas and recommends improvements to existing processes and procedures, where appropriate.
• Appraises the economy, efficiency and effectiveness with which company resources are deployed
• Provides advice to functional areas on various administrative and financial matters, especially those that may create risk and control lapses
• Maintains contacts and liaises with the company's external auditors to ensure complementary effort.
• Conducts ad-hoc and confidential investigations on control breaches, as may be necessary from time to time.
• Manages loss recoveries.
• Provides timely, comprehensive and accurate review and situational reports to the Management.
• Manages the performance of the Internal Audit staff.
• Ensures ISO certification compliance monitoring and annual re-certification process.

Key Performance Indicators

• Compliance rate with laid down operating policies & procedures & service standards
• Rate of irregular activities and frauds as a result of control lapses
• Adequate inspection coverage of all Landwey Operations and Business units
• Number of spot checks and reviews per period
• Timeliness in conducting investigations, relevance of findings and effectiveness of action plans
• Number of queries from the regulatory authorities and external audit reports
• Quality and timeliness of reports and updates
• Adequacy of risks and controls of the operational activities
• Efficiency rate of operational activities

Qualifications & Experience

• Bachelor's degree in Accounting, Finance, Economics or other related area.
• 10-15 years cognate work experience, 3 years of which must have been at Senior Management level and Audit related from a reputable organization/Institution.

Knowledge & Skills Required

• Real Estate Industry Dynamics
• Audit Planning
• Systems Audit
• Accounting (Management & Financial)
• Financial Analysis/Interpretation
• Audit Investigations & Documentation
• Business Process
• Analytical Thinking & Conceptualization
• Budgeting & Budget Monitoring
• Leadership/ Supervisory
• Customer Focus/Service Orientation
• Internal Controls
• Oral and Written Communication
• Project Management
• Total Quality Management
• Risk Management
• Relationship Management