Internal Audit Division Head

1 week ago

Makati City, National Capital Region, Philippines PJ Lhuillier Group of Companies Full time
About the job

The position is primarily responsible for designing the Audit Risk-based Program to examine, evaluate and improve the effectiveness of internal control, risk management and governance system of the bank. The position is also responsible for overseeing the audit processes and managing the execution of internal audit policies, procedures, and programs to ensure bank compliance with regulatory requirements and industry standards.

Key Responsibilities

A. Policy Formulation and Implementation

  • Endorses formal letter to the Bank President and to the Board of Directors for consultation and advice on general direction to create the Risk-based Audit Program.
  • Develops an annual Audit Risk-based Program to examine, evaluate and improve the effectiveness of internal control, risk management and governance system of the bank.
  • Formulates policies, practices, and procedures to ensure the effective and efficient flow of work and improve internal controls.
  • Keeps abreast of changes in regulations and standards that may impact audit processes.

B. Audit Management

  • Collaborates with senior management to develop an audit plan, including objectives, scope, and timelines.
  • Directs the audit activities to meet specified objectives.
  • Ensures the integrity, reliability and consistency of audit reports based on actual audit assessment.
  • Assesses the operational, financial, compliance and reputational risks associated with internal and IT audit. Develops risk mitigating strategies and control recommendations.
  • Monitors compliance of audit practices with regulatory requirements, industry standards, and internal policies.
  • Reviews audit findings and recommendations. Presents resolution to BSP/PDIC findings to the management, audit committee, and stakeholders.

C. Risk Assessment and Reporting

  • Assesses the operational management, risk management, compliance, and other control functions to protect the bank and its reputation.
  • Presents quarterly and annual reports to Audit Committee/Board of Directors.
  • Analyzes critical business processes, evaluates design and operational effectiveness of internal controls, and identifies potential process improvement opportunities.
  • Implements best practices and benchmark against industry standards to enhance the audit process efficiency and effectiveness.

D. Management Leadership

  • Finalizes plans, programs, budget and performance targets of the division.
  • Plans, directs and coordinates all activities in the department to reach maximum level of employee productivity throughout the workforce.
  • Provides upfront leadership in supervising all direct and indirect reports and planning for their career advancement and aspirations.
  • Supervises and evaluates the performance of all direct reports.
  • Approves/schedules all vacation leaves of all direct reports.

E. Others

  • Supports Bangko Sentral ng Pilipinas (BSP) and Philippines Deposit Insurance Corporation (PDIC) during annual examination.
  • Participates actively during staff meetings, training programs and other professional development work.
  • Makes recommendations on matters pertinent to business operations and other related activities.
  • Performs other related duties as assigned.

Qualifications

  • Education: Graduate of B.S. Accountancy, preferably a CPA or with a master's degree or latin honors
  • Preferred experience within the banking or financial institutions
  • One or more Audit Certifications required - CIA, CPA, CFSA, CRMA, CISA, CFE
  • Experience: At least ten (10) years of work experience in performing audit and risk assessments, evaluating internal controls; preferably from banking or financial service industry

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