The Head of Internal Audit supports the Audit Committee in fulfilling the Board of Directors’ responsibilities, including oversight of financial reporting, operating and risk management controls, and the internal and external audit processes of The Beige Group. The position is also responsible for providing strategic and technical leadership to the independent internal audit function, and for providing advice on the company’s operations control environment and risk management practices to the Audit Committee and management. The Head of Internal Audit will lead and manage a team of qualified internal auditors of The Beige Group.
- The ideal candidate will be a highly respected professional in the audit community with a reputation for impeccable ethics and integrity, and experience in a best-in-class internal audit function and sound business judgment and acumen.
- Demonstrate a willingness, to take the lead on initiatives outside of Internal Audit (which do not jeopardize independence on areas under audit) to become a true business partner and leader to the entire organization.
- Recruit, develop and retain a high performing, high quality internal audit organization that is respected within The Beige Group of companies.
- Develop and maintain an infrastructure of audit methodology process, tools, and communication of audit results and business advisory consultations that are efficient and effective to support a high functioning audit department.
- Develop the skills and abilities of all team members, with the result that they perform at their highest potential and optimize their current and future job performance.
- Develop and maintain sufficient depth in all critical functions, minimizing “single point of failure” risk.
- Develop the depth of the Internal Audit management team, including ongoing management succession planning.
- Stay abreast with leading internal audit practices and tools to maximize the effectiveness and efficiency of the Internal Audit team.
Job Responsibilities with Daily Time Spent on Audit
- Bring a systematic, transparent, scalable, and disciplined approach to evaluating and improving, as appropriate, the effectiveness of internal controls, risk management and governance processes.
- Lead and coordinate an annual risk assessment to support the development of the annual audit plan. As appropriate, update the risk assessment and audit plan during the year in response to business or industry/market developments
- Oversee financial, operations, and technology audits. Ensure the issuance of audit reports is done in collaboration with and agreement from process owners on the facts of the audit findings, the risk severity and impact, and timing of remediation.
- Ensure overall audit quality of Internal Audit activities and that the Internal Audit team complies with the Internal Audit policy and manual and communication standards.
- Provide strategic and technical leadership for audit activities and support the Audit Committee in its fulfilment of its oversight responsibilities.
- Provide timely and accurate reporting on control gaps and the status and remediation of audit findings.
- Influence the strengthening of the control environment, governance processes, and risk management practices through audit recommendations and validation of management’s agreed to actions.
- Build a successful relationship with business leadership to provide value-added consultation to influence and strengthen operational efficiencies and effectiveness and promote best practices; provide opportunities for cost savings, standardization and globalization of processes.
- Drive strategic thinking and decision making to ensure that The Beige Group is proactively addressing and anticipating issues. Promote appropriate risk management awareness and risk mitigation.
- Actively participate in applicable executive management forums, committees, councils, advising on emerging risk and control issues.
- Ensure the overall quality and fact-driven insights of the consulting or business advisory engagements performed by the Internal Audit function.
- Actively support a “culture” of transformation and anticipate the changes required in control processes and risk management practices to match business model and market transformation.
- Provide leadership and technical guidance to ensure the company’s continued compliance with respective statutory legislations in support of the company, The Beige Group.
- Ensure the design of financial controls keep abreast with new accounting standards or changes to processes from system implementations or business model transformation.
- Support legal, business ethics and carry across compliance organization as needed for investigations or other special projects.
- Responsible for coordinating, leading and documenting the progress on audit findings of The Beige Group.
- Co-ordinate review with all the SBU’s of Beige as appropriate.
- Evaluate the company’s best practices and communicate the relative benefits or costs of any audit or advisory recommendation to management.
Required Skills or Experience
- Primary Qualifications (skills, years of experience, education, knowledge, prior achievements)
- Bachelor’s degree required with an emphasis in accounting or finance.
- Must be a member of any professional body (such as CA, ACCA, CPA, CIA etc.)
- 15+ years or equivalent of progressive experience in audit and/or financial analysis, planning, and at least 7years at management position.
- MBA or Master’s degree in Accounting or Finance would be an added advantage.
- Demonstrated ability to communicate, influence.
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