Head, Internal Audit at Advans Ghana Savings & Loans

About The Job

What Will Your Role Be?

• The Head, Internal Audit shall report to the Audit Committee and Group Audit, with the following objectives:
  • Help Advans in accomplishing its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and  governance processes.
  • Provide independent appraisal of all the activities and processes of Advans to evaluate the adequacy and effectiveness of underlying risk management and internal control systems.

Duties/Principle Responsibilities

• General:
  • Manage effectively the internal audit activities to ensure it adds value to the Advans institution, in particular audit assignments
  • Supervises the internal audit team on an ongoing basis and ensures that internal audit resources are appropriate, sufficient, and effectively deployed to achieve the approved plan
  • Issues relevant and adequate audit recommendations, analysis and conclusions to contribute to the quality of operational processing and the reinforcement of Advans internal control and risk management system in all Advans activities/entities
  • Ensures that all audit activities carried out comply with sound internal auditing principles, practices, standards issued by Advans group audit, and in accordance with the International Standards for the Professional Practice of Internal Auditing (IIA)

Planned Audit Mission:

• Launches and orientates the planning stage of each audit assignment according to the preliminary risk assessment methodology in order to establish the audit strategy for the mission
• Validates the audit program and related audit procedures defined for each assignment as well as the corresponding budget and allocation of audit resources
• Directly carries out some audit works during the field works stage of the mission, in particular for complex / technical issues and/or when he/she is directly in charge of the mission (head of mission)
• Reviews the quality of the results and conclusions of the audit works performed by the audit team and makes sure audit procedures defined were properly implemented
• Analyses the results of the audit assignment and concludes on the effectiveness and efficiency of internal control and risk management system applicable to the scope of the mission
• Proposes relevant audit recommendations to correct deficiencies identified and/or improve the existing risk management and control system
• Prepares timely audit mission reports and obtains management responses before submission to the direct supervisor of the auditee, general management and the Audit Committee
• Makes sure the audit folder of each audit mission is comprehensive and properly documented and stored in accordance with our audit standard

Audict Planning & Follow Up Activities:

• Establishes a yearly audit plan following our risk-based approach methodology and set priorities for each audit assignment
• Coordinates work with Risk & Compliance and other permanent control-related activities within the Advans institution
• Anticipates and decides the next audit assignment to conduct based on the yearly audit plan approved and taking into account the priorities, constraints and risks assessment
• Decides when and where to launch unannounced/flash audit missions and supervises the assignment
• Monitors the progress of the audit plan, anticipates potential delays in the execution of the audit plan and proposes remediation measures to group audit
• Follows up the progress/budget consumption of each audit assignment, anticipates potential delays in the execution of the mission and validates remediation measures proposed by the head of mission
• Monitors at least on a quarterly basis the progress of the implementation status of internal audit recommendations issued and, where applicable, of recommendations made by regulators or external auditors

Unplanned and Other Assignment:

• Provides support to the Advans institution's anti-fraud programs, in particular, in connection with general management, reviews the suspicious fraud cases reported and decides what further investigations need to be carry out
• Conducts and supervises special audit missions as may be required by general management or the Audit Committee
• Alert, if need be, the Audit Committee to eminently serious facts involving General Management and jeopardizing the going-concern status of Advans
• When deemed necessary, assists in examining new or updated procedures prior to their implementation in order to prevent possible deficiencies in the internal control and risk management system
• When deemed necessary, takes part in working sessions on the permanent “risk assessment” process and the review of the Risks & Controls Matrix
• In connection with the Advans group audit, proposes improvement/update to the Internal Audit methodology, and the associated processes, procedures and working tools. Updates them when relevant
• Researches new or technical subjects when required to support audit activities (e.g. Basel III, market risk, financial instruments, etc.)

Reporting:

• Under the supervision of the Advans group audit, prepares quarterly audit reports, and other reports when appropriate, for submission to the Audit Committee and general management
• Anticipates the meetings of the Audit Committee, proposes the agenda and prepares the audit presentation materials for submission to the Audit Committee
• Attends the Audit Committee meetings and presents the audit highlights and other relevant analysis and key messages
• Maintains open communication with general management, group audit and the Audit Committee
• Regularly reports to group audit, on a proactive basis, the results and conclusions of audit assignments and any other information which may have an impact on the conduct and conclusions of audit activities

People Management:

• Plans, organizes and monitors all the activities of the internal auditors of the department
• Selects and interviews candidates for internal audit positions in the department, validates the recruitment, in connection with the HR department (and group audit, according to the positions recruited)
• Provides appropriate training, guidance and coaching to the internal audit team in the conduct of their duties, in particular during audit missions, in order to help them develop their skills and know-how
• Provides informal feedback on the overall performance of internal auditors on audit assignments
• Conducts yearly and half-yearly professional interviews of the internal audit team members: sets/reviews individual objectives, identifies the actual level of mastery for key skills (strengths and areas of improvement) and defines a development plan
• Proposes internal promotion and salary increase for internal auditors deemed eligible, to group audit and general management
• Proposes to review the adequacy of staffing/resources of the internal audit department (in term of number and appropriateness of current auditors’ position)

Profile:    

• Educational Level:
  • Minimum of Bachelor's degree with ACCA/ICA
  • Masters in Business Administration is an added advantage

Experience Required (Sector and NO. of Years):

• Minimum five (5) of audit experience in Auditing with a minimum of two (2) years in a supervisory role
• Minimum two (2) years of experience in the leading of Audit missions would be an added advantage

Specific Training Required:

• IT Audit
• Digital Forensic
• Risk-based Auditing

Interna Relation:

• Immediate superior: Audit Committee and Advans Group Audit (functional supervision) / General Management (administrative supervision)
• Internal clients: all staff
• Network: all departments
• Peers: other heads of units/departments
• External relations