head of internal audit.

Position Overview:

The Head of Internal Audit will be responsible for overseeing and leading the internal audit function of the organization. This role requires a highly skilled and detail-oriented professional with extensive experience in auditing practices, risk management, and corporate governance. The Head of Internal Audit will provide independent assurance on the effectiveness of internal controls, risk management processes, and governance systems, ensuring that the company’s operations are in line with best practices and regulatory requirements.

Key Responsibilities:

Internal Audit Function:

• Lead and manage the internal audit department, ensuring audits are conducted efficiently, thoroughly, and in accordance with professional standards and best practices.
• Develop and implement the annual internal audit plan, ensuring comprehensive coverage of key business areas, processes, and risks.
• Conduct audits of business operations, financial controls, risk management systems, and compliance procedures, providing clear and actionable recommendations for improvement.
• Review and assess the effectiveness of internal controls, corporate governance, and risk management processes across all areas of the company.
• Ensure audit findings are communicated clearly to senior management, with appropriate recommendations for risk mitigation and operational improvements.

Risk Management and Governance:

• Assess and monitor potential risk areas, identifying weaknesses and areas of concern that may affect the company’s ability to achieve its strategic objectives.
• Collaborate with management and key departments to ensure the organization’s risk management strategies and controls are effective.
• Evaluate the design and implementation of key internal controls to ensure compliance with relevant regulations and industry standards.
• Provide advisory support to the organization on risk management, governance practices, and internal control improvements.

Reporting and Compliance:

• Prepare regular reports for the Audit Committee and senior management, highlighting audit results, risk areas, and recommended improvements.
• Ensure compliance with regulatory requirements, industry standards, and internal policies in all audit activities.
• Track the implementation of audit recommendations and follow up to ensure corrective actions are taken in a timely manner.
• Work closely with external auditors, regulators, and other relevant stakeholders to ensure alignment with regulatory and compliance requirements.

Leadership and Team Management:

• Lead, mentor, and develop the internal audit team, ensuring that team members are properly trained, motivated, and aligned with departmental goals.
• Foster a culture of continuous improvement and high performance within the internal audit function.
• Oversee the recruitment, development, and performance management of internal audit staff to build a skilled and effective team.

Strategic Input and Advisory:

• Act as a trusted advisor to senior management on governance, risk, and internal control matters.
• Provide strategic input into the design and implementation of business processes, helping to strengthen the control environment across the organization.
• Assist in the development of risk management strategies, offering insights based on audit findings and industry best practices.

Requirements:

• Bachelor’s degree in Accounting, Finance, Business Administration, or related field (Master’s degree preferred).
• Professional certifications such as CIA (Certified Internal Auditor), CPA, or equivalent are highly preferred.
• Minimum of 10 years of experience in internal audit or audit-related functions, with at least 5 years in a leadership role within the manufacturing or related industries.
• Strong understanding of internal auditing standards, risk management principles, and corporate governance.
• Experience with developing and implementing audit plans, conducting risk assessments, and providing recommendations for process improvements.
• Knowledge of local regulatory frameworks, compliance standards, and industry best practices.
• Proven leadership abilities with experience in managing and developing a team.
• Excellent communication and presentation skills, with the ability to interact effectively with senior management and stakeholders.
• Strong analytical skills and attention to detail, with the ability to identify risks and provide strategic solutions.