Head of Internal Audit

Job description / Role

Head of Internal Audit (IAH) is responsible for the strategic direction, leadership and overall management of the IA function within the company Group. IAH provides the Board of Directors with assurance as to the adequacy and effectiveness of the internal control system and its subsidiaries, by identifying significant risk exposures and control weaknesses. IAH also has a proactive role in Enterprise Risk Management and Business Process Improvements at the company, through involvement in special projects and other ad-hoc reviews directed by the Board/ its approved representative body, or requested by Senior Management.

RESPONSIBILITIES:
- Draft, develop and update the Internal Audit Charter in line with Internal Auditing Standards.
- Prepare a comprehensive risk-assessment of the Groups business units and other auditable areas, gathering inputs from the IA team and company stakeholders. Risk Assessment results will be the basis for preparing the IA Strategy and prioritizing audit engagements for the year. The Audit plan is to be developed within the dept. or by the outsourced IA service provider.
- The risk based internal Audit plan detailing the scope, nature and timing of Audit activities to cover all the key activities of the group (Holding co and its subsidiaries), identify audit priorities and resource required for the year. Updates to the IA strategy shall be documented in the Annual Audit plan. IA strategy to be submitted to the Board of Directors/ or its approved representative body for approval.
- Prepare IA Department Budget and Resource Plan, periodically monitoring actual cost vs. budgeted figures.
- Plan and manage audit engagements, define the scope, objectives and timelines. Audits to be completed based on agreed timeline.
- Ensure that audit programs, reflect key risks and clear understanding of business operations, departmental/ process goals and objectives.
- Manage and perform audits as per Institute of Internal Auditors (IIA) Standards and Guidelines, review the work of audit staff assigned to the audit engagement, and ensure that deliverables are completed on time and within the budget.
- Prepare presentations to report audit results to the Board of Directors.
- Ensure that a proper system is in place for the maintenance of internal audit working papers, IA Memos, administrative records and other internal communications as per Records Management and IIA Working Paper Standards.
- Prepare a quarterly progress report of internal audit activities to the company Board of Directors for their information and review. Progress report may include the following: planned audits, investigations, risk advisory work and any other ad-hoc reviews requested by company Management.
- Meet with the Board of Directors/ its authorized representative body, on a quarterly basis to present audit results, or schedule special meetings to raise significant issues, which require the Board's immediate attention.
- Ensure final reports are issued with all recommendations agreed and accepted by the audited individual/group. Differing viewpoints if any are to be reflected in a balanced manner.
- Manage the IA head count, recruiting and deploying resources as required, to ensure the department budget is balanced and the right mix of skills and strengths are being leveraged as effectively as possible.
- Provide guidance and motivation to junior staff and share knowledge with team members, through coaching/ counseling.
- Prepare the Development/Training Plan for IA Department. The Training Plan to ensure addressing the performance gaps and professional development needs of each IA team member.

Requirements

- Bachelor's degree in Accounting/ Commerce is preferred.
- Professional Accounting qualification (CA/ ACCA/ CPA).
- Professional Auditing qualification such as (CIA/ CISA is preferred).
- At least 15 year of work experience in an industry, or with a leading public accounting firm having exposure to evaluating, testing of financial and operational controls

Skills:
- Expertise in internal audit, risk and control functions.
- Excellent communication and presentation skills.
- Personal integrity and honesty.
- Personal Organization and planning skills.
- Ability to have a grasp of the big picture, head for details and place it in a wider context.

About the Company

Established in 1996, Clarendon Parker Bahrain is an International Recruitment Specialist Consultancy based in Bahrains Seef Business District. We specialise in mid to senior level professional, managerial, technical recruitment and staffing solutions in Bahrain and beyond. Our multinational team of consultants are experienced professionals within the fields they represent. Each consultant brings strong industry links and knowledge to better understand your business requirements. We know the market and we know our candidates!

Our team of dedicated consultants specialise in the following industries:

Accounting, Finance & Banking Logistics & Customer Service Secretarial & Administration Human Resources & Recruitment Engineering & Construction IT/Telecom Marketing & PR Oil and Gas

The current range of services includes permanent and temporary recruitment, recruitment advertising campaigns, employee satisfaction surveys, state-of-the-art web-based recruitment technology and HR consulting services relating to recruitment processes and activities.