Head of Internal Audit recruitment
Further, the incumbent will be overall responsible for ensuring timely completion/ execution of the approved annual audit plan and conduct of individual audit assignments in line with applicable best practices, including but not limited to the Standards for the Professional Practice of Internal Auditing (SPPIA). The incumbent will also ensure rendering of internal audit advisory services to the individual departments as and when required by executive management, the CEO, Audit, Risk Compliance Committee, or the Board of Directors (the Board).
Essential Duties Responsibilities by Dimensions:
A. Shareholder Financial:
- Add value to the functions being audited by identifying instances/ risks that entail probable financial loss or regulatory non-compliance that could result in monetary penalties/ reputation damage through the audit process.
- Pursuit of providing reasonable assurance to: senior management, shareholders of QNBFS/ QNB, and audit committee in relation with business activities, risk assessment and controls by issuance of timely audit reports.
- dentify potential cost saving opportunities by highlighting process inefficiencies through the above-mentioned process.
B. Customer (Internal External):
- Ensure adequate coverage of the operations, support and control functions in the annual audit plan to provide assurance to the relevant auditee management, executive management, Audit, Risk Compliance Committee and the Board on the adequacy and effectiveness of the internal controls in place within the respective units/ areas and add value to improve the functioning of the various activities performed by the respective departments/ units, as and where applicable.
- Provide timely feedback/ information to the Audit, Risk Compliance Committee on queries/ reports/ other correspondence received from the external auditors, Qatar Central Bank (QCB), Qatar Financial Markets Authority (QFMA), Qatar Exchange (QE) and other external regulators to enable Company to respond to the same in a timely and efficient manner, which pertain to the incumbent’s area of responsibility.
- Manage the relationship with the senior executive management and the various other related divisional/ departmental heads to obtain their inputs/ concerns on the various functions/ areas within the concerned divisions/ departments including significant developments therein, which could have an impact on the annual audit plan.
C. Internal (Processes, Products, Regulatory):
- Prepare an annual audit plan (encompassing operational risks) for submission to the Audit, Risk Compliance Committee for review, based on the risk assessment conducted for the incumbent’s area of responsibility.
- Implement and execute the plan approved by the Audit, Risk Compliance Committee and ensure completion of the same within the assigned period. Also responsible for submitting status reports on the various assignments in progress to the Audit, Risk Compliance Committee explaining the reasons for the delay in completion of individual assignments, if applicable.
- Develop and implement appropriate risk assessment methodology/ parameters and criteria to facilitate evaluation of the departments/ units/ processes, systems and related procedures based on the risk involved in the referenced activity/ function/ area.
- Manage the individual assignments comprising the approved plan to ensure that these are being conducted in accordance with the best practices for internal auditing, including but not limited to SPPIA recommendations/ guidelines.
- Manage the audit by the team.
- Ensure that the audit planning, fieldwork and reporting stages are conducted in consonance with the procedures/ guidelines contained in the internal audit manual, including but not limited to communications to relevant auditee management on audit commencement, presentation of draft reports to auditee management and obtaining their responses and holding of closing meetings.
- Perform review of all internal audit and special assignment/ investigation reports.
- Submission of draft reports (comprising audit and other reports) to the Audit, Risk Compliance Committee for review.
- Manage special audits and investigations of problem areas or for certain specific reasons, as and when directed by the CEO/ executive management, Audit, Risk Compliance Committee or the Board.
- Responsible for the utilization of the appropriate audit software procured by Group Internal Audit by all personnel reporting to the incumbent.
- Monitor on overall basis the post-audit follow-up of audit reports and ensure compliance with recommendations.
- Conduct performance appraisals of personnel reporting to the incumbent and submit his own performance appraisal to the Audit, Risk Compliance Committee on timely basis in accordance with the laid down policy in this regard. Address the concerns of subordinates/ resolve their issues on timely basis.
- Decide on work load distribution and establish a detailed budget for each phase of the audit/ assignment in consultation with the audit/ assignment in-charge.
- Decide on temporary staff allocations to conduct audits/ review in conjunction with the Audit, Risk Compliance Committee.
- Responsible for imparting training/ guidance to trainees who join the Internal Audit.
D. Learning Knowledge:
- Identify related areas for professional development of self and subordinates based on discussions with the audit/ assignment in-charge and ensure these are reflected in the training plans.
- Ensure provision of relevant guidance, direction and training to subordinates, to develop and enhance their skills and enable them to shoulder greater responsibilities in future.
E. Other:
- Unrestricted access at any time to all information, records, personnel and property in Qatar and overseas (as and when applicable) that is required for the effective discharge of the incumbent’s responsibilities.
- Maintain utmost confidentiality with respect to the information obtained from auditee management during the course of the audit.
Education/Experience Requirements:
- Bachelor degree in finance, economics, accounting, banking or other related subjects.
- Professional qualifications such as CIA/ CMA/ CPA/ CA/ ACCA.
- Minimum of 10 years experience in a major brokerage or leading audit firm with specific brokerage operations audit knowledge out of which 6 years in a managerial role.
Required Special Skills:
- Excellent oral and written communication skills in English and Arabic (preferred).
- Adequate legal and documentation background.
- Proficiency in risk concepts, brokerage operations/ systems and pertinent regulatory requirements.
- Well-developed analytical and interpersonal skills.
- Self-motivated, eye for detail.
- Ability to persuade others.
- Flexible team player and able to work and deliver under pressure.
- Knowledge of MS Office Suite Computer Assisted Audit Techniques (CAATs) viz. Audit Command Language (ACL).
- Knowledge of applicable International Accounting Standards and related pronouncements.
March 17, 2012
• Tags: Accounting & Finance careers in the Qatar, Head of Internal Audit recruitment • Posted in: Financial