Head of Internal Audit at Egbin Power Plc

The Head of Internal Audit will oversee the reports to the Audit Committee and senior management, which address key business risks and control issues within the Company.

Key Duties and Responsibilities

• Identify and escalate strategic implications to the organization from audit engagement findings.
• Evaluate that significant risk exposures and control issues, including fraud risk and governance issues are covered in the final engagement communication.
• Communicate objectively audit engagement results to senior management and board members.
• Review the quality of business process analysis and process improvement recommendations.
• Evaluate implications of process design improvement recommendations on organisation's strategic objectives
• Assess whether the risk management and internal control systems are operational as intended.
• Review the completeness of management’s risk analysis and actions taken to remedy issues raised by risk management processes and suggest improvements.
• Evaluate risk exposures relating to the organisation’s governance, operations, and information systems.
• Communicate with senior management and Board on risk-related issues that may indicate weakness in risk management practices.
• Facilitate review of strategic and business risk issues and assess risk governance framework.
• Evaluate completeness and relevance of risk assessments.
• Review and approve audit engagement plans and evaluate the relevance and prioritization or focus of the audit plan and its alignment with IA and organizational strategies.
• Establish key performance indicators to measure the progress and performance of each initiative against expectations.
• Establish internal audit (IA) audit charter including IA terms of reference and service delivery approach.
• Lead and assess annual risk analysis to formulate risk-based audit plan and ensure adequate budget to support IA planned activities.
• Evaluate business insights, assess the strategic implications, make appropriate recommendations and communicate high- risks areas with process owners, Senior Management and Board.
• Monitor application of the "due professional care" Standard in performing audit activities.
• Engage the board and senior management on governance best practices and issues.
• Ensure adherence to ethical codes of practice when endorsing governance principles and policies to ensure organisational compliance to governance requirements.
• Assess the internal control framework and the adequacy and effectiveness of internal controls.
• Advise the board and senior management on improvement initiatives to improve controls.
• Advocate board and management to establish ethics and values within the organisation and set the tone at the top.
• Develop safeguards to maintain auditor’s independence.
• Evaluate the effectiveness of safeguards applied to eliminate or reduce identified threats of unethical behaviour.
• Implement data protection policies and practices of Egbin Power Plc.
• Ensure compliance with the NDPR and other data protection laws, and data protection policies.
• Undertake a Data Protection Impact Assessment as applicable to curb the risk during data processing operations.
• Take accountability for the establishment and effective implementation of Integrated Management System (ISO 9001:2015, 14001:2015 & 45001:2018) and support other relevant roles to demonstrate their leadership as applies to your areas of responsibility.
• Ensure strategic review of business processes in order to drive customer satisfaction and improvement.
• Engage, direct and support persons /units/departments to understand and identify hazards, risks, environmental aspect and Impact as it is related to their jobs. 

Education and Work Experience

• Bachelor’s degree in accounting, Finance or any relevant course.
• Postgraduate qualifications and professional certification are required.
• Relevant professional certification (e.g. CIA, ACA, ACCA, CIMA, CFA) is a must-have.
• Minimum of ten (10) years relevant work experience.

Skills and Competencies

• Excellent understanding of the standards of the Institute of Internal Auditors (IIA) and ability to fully comply with IIA standards.
• Ability to manage projects and, when required, supervise auditors to follow sound internal control practices and to manage risks appropriately.
• Strong skills in negotiating, relationship building, problem-solving, and timely problem escalation.
• Excellent written and oral communication skills.
• Certified Internal Auditor (CIA) designation is preferred.
• Proficiency in MS Office (Word, Excel, PowerPoint).
• Proficiency in other accounting software & applications. 
• Excellent time management and organizational skills.
• Good investigative skills.