Group Head Of Internal Audit

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Job Detail
  • Industry:
    Financial Services
  • Total Positions:
  • Job Type:
    Full Time
  • Salary:
    21000 USD - 25000 USD
  • Job Location:
    Bahrain, Bahrain
  • Minimum Education:
  • Minimum Experience:
    10+ Years
  • Apply By:
    Nov 30, 2018
Job Description
The main responsibility of the Group Head of Internal Audit is to support the Audit, Risk and Compliance (Board) Committee and the Group Managing Director & CEO in providing assurance on the ongoing adequacy and effectiveness of key controls established. 
The job holder must also aim at mitigating risks within the core operational processes and functional areas that support service delivery, through the effective management of the Internal Audit function across all entities of the Group; as well as drawing any weaknesses or shortcomings noted to the attention of management, by means of reviewing the Company’s internal controls and recommending ways of developing the policies and procedures to minimize risk and cost; and increase profitability.

Main Duties:

Audit Planning/Design
Develop a control assurance framework and Group annual audit plan using input from the individual audit team and stakeholders to identify priorities and resource requirements for the year, covering all Group activities. 
Meet managers to discuss needs and propose audits, to build stakeholder requirements into Group departmental plans. 
Ensure plan is developed to meet the Audit, Risk & Compliance Committee’s (ARCC) expectations. 
Schedule and assign audits to the Audit Group members, ensuring effective and efficient use of resources. 
Ensure quality control of the Group team’s audit plans on an ongoing basis by reviewing and approving plans as they are developed and communicated. 
Ensure annual audit plans have contingency built in, to provide unexpected audits as they may surface. Delivery of planned and ad-hoc risk based audit work, providing management with timely reports that provide opinions on the control environment, and in particular the effectiveness of key controls that ensure our capability to comply with legal, regulatory, industry, and corporate standards. 
Conducting Audits
Oversee and provide quality control for the Group departmental audits, to ensure departmental mandate and business goals are met and that professional standards are maintained at all times. 
Ensure completion of audit assignments to provide independent, objective assurance to the ARCC. 
Develop the Group team’s engagement with and support of major business change programmes, thus ensuring that appropriate consideration of risk and control is given to all changes. 
Ensure final reports are issued with all recommendations agreed and accepted by the Group MD & CEO and the Audit team. Review these reports to ensure alignment to Compliance before presentation to ARCC. 
Report to the ARCC at the required intervals on Internal Audit assignments including planned reviews, investigations, risk advisory work and any other ad-hoc activity as required. 
People Management & Development
Manage and oversee team performance through performance planning, coaching and performance reviews. 
Hold direct reports accountable for managing and developing their assignments to ensure the Group’s goals are achieved. 
Provide ongoing feedback to the team to ensure they develop the skills and competencies required for effective planning and individual professional and personal career growth. 
Motivate and inspire the team by providing them with the information and tools they need to do their jobs well and meet expectations. 
Deal with performance issues, discipline as necessary and address poor standards; ensuring department targets are not compromised. 
Manage the head count, recruiting and deploying resources as required, to ensure the department’s budget is balanced and the right mix of skills and strengths are being leveraged as effectively as possible. 

Qualifications and Skills:
Masters in Finance (MBA) from an internationally recognized university.
Must be Male candidates over 40 years of age
Internationally recognized accounting/auditing qualification like ACCA/ Chartered Accounting/ CIA/ CISA. 
Minimum 7-10 years work experience with at least 5 years experience in a financial institution. Must also have in-depth knowledge of different regulatory environments, regulatory compliance requirements and risk management principles. 
Knowledge of current auditing practices, compliance regulations and trends 
Supervision and managerial skills 
Analysis and planning skills 
Negotiation and convincing skills 
Leadership and organizing skills 
Interpersonal / communication skills 
Ability to work unsupervised, in a fast paced team environment 
Proven IT skills in all Microsoft Office programs

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