Head of Internal Audit at LEAD Enterprise Support Company Limited

Job Objective: 

The Head of Internal Audit has overall responsibility for the Internal Audit Department and its function. Responsible for ensuring Internal Audit is closely aligned with industry best practices in executing the duties across the bank’s business and financial operations. Works to ensure roles, responsibilities, and results are efficiently coordinated and collectively optimizing the effectiveness of risk management, control and governance of the bank. 

Job Summary: 

1. The Head of Internal Audit is responsible for the development, management and evaluation of internal control systems in the Bank.
2. The role develops and implements the annual internal audit program and ensures that the audit objectives are met.
3. The job holder provides reasonable assurance on the effectiveness and strength of internal controls.

Duties and Responsibilities:

1. Formulate an annual audit plan and forward it to the Board Audit Committee for Approval.
2. Direct the implementation of the annual audit plan, including as appropriate any special tasks or projects requested by the Managing Director and Board Audit Committees.
3. Direct a comprehensive program of internal audit for the bank to ensure that internal control systems support the reliability and integrity of financial, operational and information technology.
4. Conduct independent, objective, and risk-based audits of all the bank’s operations, processes, and controls.
5. Evaluate the adequacy and effectiveness of internal controls, identifying and reporting weaknesses and proposing corrective actions.
6. Direct the work of external auditors to ensure the audit work remains within the prescribed guidelines.
7. Ensure that the controls in place are reviewed at appropriate intervals and effective recommendations are made for corrective actions as required.
8. Provide technical assistance with investigations and special audits, and provide subject-matter expertise as needed.
9. Issue periodic audit reports on a timely basis to the Board Audit Committee and the Managing Director summarizing the results of audit activities.
10. Coordinate and assist with the preparation of Audit Committee materials and participate in audit committee meetings.
11. Investigate potential fraud and irregularities, providing timely and insightful reports to management and the Board Audit Committee.
12. Develop, update and execute the implementation of the Internal Audit Charter as approved by the Board Audit Committee.
13. Keep the Board Audit Committee informed of emerging trends and developments in systems auditing practices and make recommendations for necessary modification.
14. Assess compliance with relevant laws, regulations, policies, and procedures.
15. Ensure that the Department exercises due professional care in carrying out audit assignments and also complies with sound audit principles and best practices.
16. Rendition of relevant statutory returns and follow up with other department’s compliance with same as it relates to their departments.
17. Ensuring that the IT Group comply with the CIA rule (Confidentiality, Integrity and Availability) of the Data Centre and Application Data.
18. Manage the process to track, follow up, and ultimately close all open audit issues leveraging the Audit Committee, if necessary.
19. Ensure that IT Change Management Procedure is maintained and where there are parameter changes/adjustments of core banking Application, Human Recourse/Payroll Application and any additional core banking application standard reports designed during production must be reviewed and tested by the IT Auditors before a release is made to users.
20. Work to ensure the effectiveness of Information security and management system.
21. Manage and oversee team performance through performance planning, coaching and performance appraisals.
22. Motivate and inspire the team by providing them with the information and tools they need to do their jobs well and meet the bank expectations.
23. Establish goals and performance standards for subordinates.
24. Deal with performance issues, discipline as necessary and address poor standards, ensuring department targets and the bank satisfaction is not compromised.
25. Maintain strong relationships with key stakeholders, including management, external auditors, and regulators.
26. Promote a culture of risk awareness and ethical behaviour within the Bank.
27. Flexibility to carry out any other task as requested by Management. 

Job Requirements:

1. A first degree or equivalent in IT, Information Systems, Mathematics, Accounting, Banking and Finance or a related field.
2. Chartered accountancy qualification - the ACA, of the Institute of Chartered Accountants of Nigeria (ICAN)
3. Evidence of completion or exemption from NYSC.
4. Evidence of completion of the Microfinance Certification program.
5. Other qualifications/certifications such as Certified Internal Auditors (CIA), Certified Information Systems Auditor (CISA), Certified Public Accountant (CPA), an MBA, etc. will be an added advantage.
6. Minimum of 10 years of experience in financial management/accounting function, 5 years of which must be in a senior position within the audit function.
7. Experience as an External Auditor will be an added advantage.
8. Proven track record of leading and managing a successful internal audit function
9. Strong understanding of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP)
10. Familiarity with the Nigerian banking regulations and Central Bank of Nigeria (CBN) guidelines.
11. Candidate must be below the age of 45 years.