Job Summary / Job Purpose
To assist Local Head of Audit in discharging his duties towards Global IGAD/AUD, Local Management, Regulators, External Auditors and other stake holders by following activities:
This person will be required to work very closely with Audit Trainees, and occasionally with other Audit Teams in Bangalore, Asia and other locations.
Main Responsibilities / Accountabilities / Tasks
1. Audit Plan Execution:
- 100% completion of audit plan for IGAD/Mumbai before Dec 15 [issuance of final report]. No carry over mission at all at the end of the year.
- Keeping missions within budget; pro-active management of the missions’ budget
- Reduction of reports issuance time: target of 4 weeks after the exit meeting
- Adequate coverage of risks and regulatory requirements during audit missions. Use of professional judgment during diagnostic and reporting.
- Timely delivery of audit deliverables with quality standards. Audit documentation to meet professional / international audit standards.
1. Recommendation Follow up:
Pro-active follow-up of audit recommendations:
- No Critical or HP priority overdue with no action for more than 3 weeks; escalation to IGAD Management in case of issue with Responsible Parties
- No open recommendation older than 18 months.
- No “Completed Not Signed” recommendation older than 3 weeks
2. Tools and Processes:
- Weekly update of the auditors activity in DATT
- Weekly update of the Mission status in DATT
- Implementation of the new audit tools and processes (in line with global and regional initiatives); implementation of the New Deal project actions (depending on the project development)
- Implementation of Quality Improvement Deliverables
- Conducting the Risk Assessment as per the Global Methodology (deliverables and deadlines to be respected)
- Completing Mission Appraisals on time.
Competency - Group Issue: Cooperation – Working Together
- Weekly highlights of main events to be sent timely to the Regional Management
- Pro-actively escalating local issues (such as: fraud cases, major operational losses, etc) to the Regional IGAD Management (Head of Hub and Regional Head and Deputy)
- Working in close coordination with the Regional Management, Regional experts and Paris Business Correspondents; in particular, pro-actively seeking advice and methodological support when starting audits; and conversely sharing knowledge and expertise with other teams that may need it
- Maintaining regular contacts with the Local Management, as well as with the actors of Permanent Control (operational risks management teams, Compliance)
- Encouraging teams’ contribution to audit methodologies
- Assisting Local Head of Audit in audit committee meetings, EXCO / CEO meetings / management meetings, review by External Auditors / Regulators / Inspection etc.
- Addressing MIS requests from IGAD or other departments such as ORM – KPI reporting etc.
4. Result orientation
Competency - Group Issue: Results orientation - Developing the Business
- Implementing a risk-driven approach within the team, especially during diagnostic phases; active management of mission MDs to take into account the risks detected during diagnostic phase
- Maintaining knowledge on key risks within the perimeter (For risk assessment & during missions)
- Maintaining access to key indicators & data on the covered perimeter (Staff, NBI, Risk Indicators, etc)