Head, Internal Audit Risk and Compliance at KPMG

Sector: Financial Services

Overview

• The Head, Internal Audit, Risk & Compliance has overall responsibility for the Internal Audit, Risk & Compliance function.
• The position is responsible for ensuring internal audit, risk management, and compliance activities are closely aligned with global best practices in executing the duties across the Company’s business and financial operations.
• He/she works to ensure roles, responsibilities, and results are efficiently coordinated and optimised to ensure the effectiveness of internal audit, risk management, and control matters.

Responsibilities
Internal Audit:

• Lead Internal Audit’s change initiatives by implementing action plans related to risk assessment and annual audit planning, audit execution, audit reporting, audit staff recruiting and development, audit technology, and Board reporting. 
• Oversee the execution of individual audits defined in the audit plan ensuring the highest level of service quality and client satisfaction. 
• Obtain approval of the risk-based annual audit plan from the Board. §Issue all Internal Audit reports ensuring the reports are clear, concise, identify root causes with practical solutions, and ultimately provide value to management. 
• Meet regularly with the Board to report the status of Internal Audit’s ongoing monitoring activities, educate/inform the Board of emerging risks and/or exposures (whether internal or external to the company) that should be considered, and serve as a “thought leader” with respect to risk management and internal control best practices. 
• Manage the process to track, follow-up, and ultimately close all open audit issues leveraging the Board, if necessary. 
• Oversee Internal Audit’s participation in critical business and technology initiatives and projects ensuring that the audit’s perspective is effectively voiced and appropriate controls are designed and implemented on a proactive basis. 
• Maintain audit technology platform leveraging support from the information systems group as needed. 
• Coordinate the activities of external auditors including how best to leverage the work performed and results produced from Internal Audit’s work.  
• Actively participate in executive management meetings and/or committees to ensure that Internal Audit is well-informed of key business developments that could have an impact on audit priorities and/or plans.
• Ensure that Internal Audit is performing its work in accordance with established professional standards and remain abreast of emerging trends and best practices that can be incorporated into the function.

Risk Management and Compliance:

• Facilitate development of an appropriate risk strategy and appetite of the organisation. Lead the annual risk assessment and planning process to develop the risk-based audit plan and ensure the plan is responsive to and aligned with the risk profile of the Company. 
• Proactively inform senior management of significant risks or exposures related to internal controls, compliance, and/or governance requiring prompt attention. 
• Facilitate continuous identification and periodic assessment of business risks in the operating environment and update the risk registers. 
• Monitor and report on key risk indicators (KRIs) and implementation of risk mitigation strategies. §Design and implement an Internal Control Framework. 
• Manage and oversee internal control activities.

Others:

• Attract, hire and retain a team of high-performing professionals who possess outstanding knowledge, experience, ethics, and integrity. 
• Maintain the whistleblowing channels of the Company and provide periodic reports to the Board. 
• Conduct investigations on reported cases of fraud and misconduct and prepare investigation reports. 
• Work with human resources to develop and implement a sanctions grid. 
• Work with business functions to identify process gaps arising from weak or inadequate business process documentation. 
• Create and implement policies to maintain a sound ethical culture within the Company.
• Serve as the key point person on all regulatory exams and other third-party audits.
• Ensure firm-wide Policy/Procedure/Regulatory Compliance. 
• Maintain an efficient working relationship with relevant external auditors and regulators e.g. SON, etc. 
• Make recommendation for policy amendments based on emerging issues/risks. 
• Monitor and evaluate the performance of IARC personnel.  

Qualifications
Minimum Education Qualifications:

• Minimum of a bachelor’s degree in Accounting or related discipline §Relevant postgraduate degree and or professional qualifications such as – CIA, QIAL, ICAN, CRMA, ACA, ACCA etc. 

Work Experience Requirements:

• Minimum of ten (10) years verified professional experience in internal audit or its equivalent with at least 3 years in managerial capacity.

General:

• Oral and written communication skills  
• Ability to promote value of internal audit Organisational skills 
• Change management skills 
• Strategic thinking and problem solving ability  
• Conflict resolution and negotiation skills.

Technical:

• Multi disciplinary disposition  
• Policy and regulatory knowledge interpretation and application (IPPF, etc.) 
• Business acumen §Project managemnent 
• ISO/quality knowledge §Working knowledge of: Microsoft office suite oIT/ICT and tech-based audit techniques; Data collection and analysis tools and techniques; Accounting frameworks, tools and techniques; Governance risk and control tools and techniques; Risk analysis and control assessment techniques 
• General operations  
• Forensic skills and fraud awareness.

Skill / Competencies

• Leadership  
• Integrity  
• Confidentiality  
• Objectivity 
• Attention to details  
• Performance under pressure  
• Excellent interpersonal skills 
• Multi tasking disposition  
• Independent minded 
• Persuasion and Collaboration  

Key Performance Indicators:

• Adequacy of the internal audit plan
• Level of execution/achievement against the IARC plan
• Accuracy, timeliness, and completeness of reports
• Number and significance of issues/ inconsistencies and process improvement opportunities identified in business processes
• Frequency of incidences of control failure
• Adequacy and timeliness of follow-up on regulatory and statutory filings
• Magnitude of calculated losses due to fraud and other control failures
• Number or frequency of queries
• Number of unresolved cases to identified issues
• Number of control improvements implemented annually in line with best practice recommendation
• Decline in code of conduct violations reported via the whistleblowing channels
• Number of whistleblowing cases closed out
• Turnaround time for cases under investigation
• Staff attrition rate
• Other KPIs as may be defined in line with changing business environment.