Head-Internal Auditor at Reliable Steel & Plastic Ind. Ltd.

Job Summary

This role is responsible for improving our organization’s internal audit structure, conducts and directs audits and ongoing reviews of the organization operating procedures, and compliance with policies and regulations. Assesses the adequacy and extent of programs designed to safeguard organization assets. Complies and issues reports detailing conclusions and providing recommendations for improvements. Serves as liaison for all external audit and regulatory agencies. Implementing, directing and overseeing the auditing and compliance programs.

Key Result Areas (KRA)                                                                                                                                         

The key result areas of this role are:

• Effectiveness of fraud management and control measures
• Control of operational losses and leakages
• Enterprise wide cost control & consciousness
• Adequacy and reliability of accounting records/information.
• Efficiency in output/productivity monitoring
• Efficiency in other inventory control and monitoring
• Detection of operational losses and leakages
• Regulatory compliance rate
• Enterprise wide accuracy & reliability of data, information & reports
• Rate of compliance to controls / staff discipline

Responsibilities

Internal Audits:

• Design and prepare annual “Audit Plan” by applying risk- based approach to ensure financial reliability and compliance with all applicable directives and regulations/policies and established protocols.
• Obtain, analyze and evaluate accounting documentation, previous reports, data, flowcharts etc.
• Prepare and present reports that reflect audit’s results and document process.
• Act as an objective source of independent advice to ensure validity, legality and goal achievement.
• Identify loopholes and recommend risk aversion measures and cost savings.
• Document process and prepare audit findings memorandum.
• Conduct follow up audits to monitor management’s interventions.
• Engage to continuous knowledge development regarding sector’s rules, regulations, best practices, tools, techniques and performance standards.
• Develop and maintain the internal audit procedures to ensure that best practice is taken account of and that the audits address specific areas of risk management (both financial and production).
• Undertake the approved internal audit plan in line with agreed procedures liaising with all parties.
• Conducting audits of policy and compliance to standards.
• Examine documentation, including reports, statements, records, and memos to gather information.
• Completes standard paperwork and questionnaires to confirm internal controls.
• Presents summarized findings concerning audits results and trends for internal groups.
• Analyses audit results for proper “corrective actions” for management to improve.
• Makes recommendations for the best ways for a company to avoid fraud and reduce waste.
• Assesses best practices for an organization and makes relevant, informed suggestions.
• Update auditees on findings and audits process, and properly follow-up with auditees on the corrective actions and management response.
• Prepares reports and preserves documentation pertaining to audits for internal record and to relevant parties.
• Identify common features across audits and organization-wide issues, proposing appropriate systematic improvements.
• Providing education and training to staff to build audits/risk awareness within the organization.
• Provide feedback to relevant internal party to update the RSP “Risk Register” in the areas of risk evaluation, which involves comparing estimated risks with criteria established by the organization (such as costs, legal requirements and environmental factors).

Management and Supervisory:

• Checks on team throughout the day to be sure that any issues relating to work performance and personnel are addressed promptly.
• Coaches and develops staff, while fostering a team atmosphere. Provides pep talks as needed and coaching for any performance issues.
• Assists employees with questions or problems they have regarding work assignments, priorities, safety, personnel issues, etc.
• Counsels employees when necessary and recommends to HR such personnel actions as needed. Offers re-training when necessary, sets up and maintains cross training as applicable.
• Serves as a role model to all employees. Conducts oneself professionally and abides by company safety & personnel policies, SOPs, etc.
• Set performance expectation and target as well as review all internal audits employees’ performance.
• Analyze budgets and continuously control internal audit cost and identify/rectify waste measures.
• Check internal Audits output according to specifications and submit report of performance and process.
• Identify issues of inefficiency and quality of all internal audit job.
• Monitor the efficiency and quality of all internal audit job.
• Review goals of staff daily and identify root cause if goal was not obtained.
• Set performance expectation and target as well as review all internal Audit employee performance.
• Conduct monthly performance appraisals for all internal audit employees and communicate information to HR and Executive Management.

Job Requirements:

• Bachelor’s degree/HND in Finance and accounting or related field; MBA or advanced degree in accounting; Finance is a plus; Professional qualification such as ACA, ACCA or CFA.
• 10+ years Solid knowledge of auditing, finance and risk management, interpreting financial and other records in high volume manufacturing operations with at least 5years in managerial role.
• Strong analytical skill set both numerical as well as legal.
• Advanced computer software skills, especially Excel (ability to work with complex formulas), PowerPoint and Word.
• Strong combination of technical, leadership, written & oral communication, team collaboration and interpersonal skills.
• Adept in process management and proven understanding and application of risk management frameworks.
• Critical understanding in the establishment and operation of internal control mechanisms.