Job Title: Head, Internal Audit
- Reports to: The Audit committee of the Board
- Responsible for the Audit in the department subordinate employees in the auditing department. This includes training employees; planning, assigning, and directing work;
- Liaises with: Heads of other units as ICT, Risk and Credit compliances and Branch Manager to develop best practices for successful banking operations
- Demonstrate Evidence of participation in implementation of the Strategic Plan of AgRB.
- Responsible for the overall internal audit program for the bank, and operating independently of other departments.
- Administers the Audit Policy, and coordinates the activities of the bank’s external auditors.
- Perform other related duties as required to meet ongoing needs of the bank.
- Set up Audit desk in all branches/agencies.
Scope and Duties and Responsibilities
- Develops and implements internal auditing policies, procedures, and programs.
- Reviews of accounting procedures.
- Advises top management and the Audit Committee of the Board on audit and internal control matters
- Investigates and determines causes of irregularities and errors.
- Verifies the existence of assets and recommends proper safeguards for their protection:
- Follow-up on issues raised to ensure management progress actions within the agreed time scales.
- Provides an independent challenge to the business view of risk as per the Bank’s policies.
- Recommends corrective action and suggest improvement.
- Supervises or conducts independent audits of bank records and activities, and prepares variance analyses of the departments and branches for management/ Board.
- Discusses the findings of audit reviews with management on a constructive basis in order to develop the most appropriate, proportionate solutions to issues arising.
- Investigates reported occurrences of fraud, embezzlement, theft, waste, etc.
- Evaluates the adequacy of the system of internal controls.
- Recommend improvements in controls;
- Supervises, conducts, and reports on the testing and adequacy of the Bank’s internal controls over financial reporting.
- To report the results of audit reviews, including management responses and proposed action plans, to the Board.
- Surveys functions and activities in assigned areas to determine the nature of operations and the adequacy of the system of control to achieve established objectives.
- Applies a risk-based approach to the review of the systems and controls of the Bank through the development of an annual programme of audit review work.
- Effective implementation of audit and regulatory reports
Professional Development of Management and Staff
- Promotes the training of subordinates in the Audit department.
- Initiates and directs relevant evaluative research activities in AgRB.
- Contributes to progress of AgRB concerning development or revision of existing policies, procedures and practices, basing all recommendations on evidence.
- Accountable for the development and coordination of the Bank’s internal auditing activities.
- Assess compliance with regulatory requirements and contractual obligations
- Assess compliance with policies and procedures and sound business practices;
- Review operations/programs to ascertain whether results are consistent with established objectives and whether the operations/programs are being carried out as planned;
- Perform ad hoc investigations and reviews at the request of the Audit Committee
- The Internal Auditor performs any other professional duties as may be assigned.
Required Skills or Experience
- Must be a holder of Bachelor or Masters (Preferred) degree in Banking and Finance or related field from an accredited University.
- Minimum of five (5) years’ experience post-higher degree in practice in Auditing,
- Auditing skills and a presence that command the respect of peers, with mature auditing judgment and the capacity to provide professional leadership.
- Auditing experience to be able to set up and supervise agencies/branches with the over-sight from head office operations.
- Proven capacity to effectively accomplish and excel expectations in respect of the duties described herein.
- Adequate command of English for effective development of reports and their meaningful communication to all concerned.
- Comprehensive knowledge of policies and procedures and Government laws and regulations on Auditing including a thorough knowledge of conflict of interest and related ethics.
- Ability to adapt effectively to unexpected situations in AgRB.
How to Apply
Interested and qualified applicants must submit detailed CV and copies of certificates including names and telephone numbers of 3 referees with a cover letter addressed to: [email protected] / [email protected] or to:
The Manager Agave Rural Bank Ltd. P. O. Box 52 Dabala, Volta Region