Job Description: Internal Auditor

Department: Internal Audit

Reports To: Audit Manager

Role Overview:

The Internal Auditor will be a key member of the Internal Audit team, responsible for ensuring the effectiveness of the organization's internal controls, risk management, and governance processes.

This role involves conducting branch inspections, performing process audits, and assisting with investigations, all while adhering to established timelines and quality standards.

The ideal candidate will be a highly analytical and detail-oriented professional with a strong understanding of financial statements and audit methodologies.

Key Responsibilities:

Branch Inspection Execution:

- Execute branch inspections according to the annual audit plan, ensuring comprehensive coverage of key risk areas.

- Conduct thorough reviews of branch operations to assess compliance with established policies, procedures, and regulatory requirements.

- Identify weaknesses in internal controls and operational inefficiencies within branches.

- Document audit findings clearly and concisely, including recommendations for improvement.

- Ensure inspections are completed within the stipulated timelines.

Branch Inspection Review and Compliance:

- Review branch operations to ensure adherence to laid-down processes and internal guidelines.

- Verify compliance with all applicable statutory and regulatory requirements at the branch level.

- Follow up on previously identified audit findings to ensure timely implementation of corrective actions.

Process Audits:

- Plan and execute process audits across various departments and functions within the organization.

- Evaluate the design and effectiveness of internal controls over key business processes.

- Identify process gaps, inefficiencies, and potential areas of risk.

- Develop and communicate recommendations for process improvements and strengthening internal controls.

- Ensure process audits are completed within the defined timelines.

Risk-Based Auditing:

- Apply a risk-based approach to audit planning and execution, focusing on areas with the highest potential impact.

- Participate in risk assessments to identify key organizational risks and develop appropriate audit strategies.

- Tailor audit procedures to address specific risks and control weaknesses identified.

Reporting:

- Prepare clear, concise, and well-supported audit reports in the defined format, summarizing findings, conclusions, and recommendations.

- Communicate audit findings and recommendations to relevant stakeholders, including branch managers and department heads.

- Track the status of audit recommendations and follow up on implementation.

Investigations:

- Assist in conducting investigations into suspected fraud, irregularities, or non-compliance, as required.

- Gather and analyze evidence, conduct interviews, and document findings in a professional and objective manner.

Liaison and Coordination:

- Serve as a point of contact for the external audit firm, facilitating the smooth and timely conduct of quarterly audits.

- Collaborate effectively with various auditee departments to ensure cooperation and access to information during audits.

- Build and maintain positive working relationships with stakeholders across the organization.

Critical Competencies:

- Analytical and Number-Driven: Possesses strong analytical skills with the ability to interpret financial data, identify trends, and draw logical conclusions.

- Financial Statement Expertise: Thorough understanding of all forms of financial statements (Balance Sheet, Income Statement, Cash Flow Statement) and their interrelationships.

- Audit Principles and Practices: Solid understanding of internal auditing principles, standards (e.g , IIA standards), and best practices.

- Risk Assessment: Ability to identify, assess, and evaluate risks within different business processes.

- Internal Controls: Knowledge of internal control frameworks (e.g , COSO) and the ability to evaluate their design and effectiveness.

- Attention to Detail: Meticulous and detail-oriented with a focus on accuracy and completeness.

- Communication Skills: Excellent written and verbal communication skills, with the ability to effectively communicate audit findings and recommendations to various audiences.

- Problem-Solving: Strong problem-solving skills with the ability to identify root causes and propose practical solutions.

- Integrity and Objectivity: Demonstrates high ethical standards, integrity, and objectivity in all audit activities.

- Time Management: Ability to manage time effectively, prioritize tasks, and meet deadlines.

- Proficiency in Audit Tools and Techniques: Familiarity with audit software and data analysis tools is a plus.

Key Interactions:

Audit Manager (Direct Supervisor)

Managers of various branches

External audit firm

Heads and staff of various auditee departments