Chief Audit & Quality Assurance Officer at Agricultural Finance Corporation (AFC)

Job purpose:

The Chief Audit & Quality Assurance Officer leads the internal audit function of Agricultural Finance Corporation. This role oversees the development and execution of audit strategies, ensuring compliance with regulatory standards, and contributing to the continuous improvement of operational processes.

Key Responsibilities:

Audit Strategy and Planning:

• Development and execution of a risk-based audit strategy aligned with institutional goals and regulatory requirements.
• Planning and coordination of audit activities to ensure comprehensive coverage of relevant areas.

Quality Assurance Oversight:

• Maintain a robust quality assurance program for internal audit activities.
• Lead in periodic reviews of audit processes, methodologies, and reports to ensure adherence to professional standards.

Team Leadership Support:

• leading and managing the internal audit team.
• Foster a culture of excellence, continuous learning, and professional development within the audit team.

Regulatory Compliance:

• Stay informed on relevant laws, regulations, and industry standards.
• Lead the efforts to ensure that audit activities and reports comply with all regulatory requirements.

Risk Management:

• Identify and assess risks associated with institutional operations.
• Develop risk-based audit plans and methodologies to address key areas of concern.

Audit Execution:

• Overseeing the execution of internal audits, ensuring thorough and objective evaluations.
• Review and assess the effectiveness of internal controls, risk management processes, and governance structures.

Stakeholder Communication:

• Communicate audit findings, recommendations, and risk assessments to senior management and relevant stakeholders.
• Provide insights and recommendations to enhance operational efficiency and compliance.

Continuous Improvement:

• Leading initiatives for continuous improvement in internal audit processes.
• Implement best practices and leveraging technology to enhance the efficiency and effectiveness of audit activities.

Collaboration:

• Collaborate with external auditors and regulatory bodies as necessary.
• Work closely with other departments to ensure a coordinated and integrated approach to risk management and internal controls.

Qualifications and Skills:

• Bachelor’s degree in accounting, Finance, or related field.
• Master’s Degree in the related field.
• Professional certification CPAK and a member to professional body in good standing.
• Certified Internal Auditor, CIA or equivalent qualification is preferred.
• At least nine (9) years’ experience in internal audit, risk management, or a related field within the financial industry.
• A Leadership course from a recognized institution.
• In-depth knowledge of internal audit methodologies, regulatory requirements, and industry best practices.
• Leadership skills with the ability to support and collaborate effectively with a team of audit professionals.
• Excellent communication and presentation skills.
• Analytical mindset and a strong understanding of risk management principles.
• Ability to maintain independence and objectivity while contributing to a positive working environment.
• Familiarity with audit management software and tools.