Internal Audit Director

Job Purpose:

The Internal Audit Director is responsible for leading the internal audit function, ensuring the effectiveness and efficiency of internal controls, risk management processes, and governance activities within the organization. The role involves managing a team of auditors, overseeing audit activities, and providing independent, objective evaluations of business operations to support management in achieving organizational goals while safeguarding company assets.

Job Dimensions:

Direct Reports - Audit Managers - Auditors - Audit Analyst Total Headcount: 4 - 6.

Key Activities, Responsibilities, and Accountabilities

1- Develops and delivers the IA Plan, including additions and removals and obtains CIA approval.

• Acts as the Engagement Supervisor (for assigned engagements in the IA Plan), and is responsible for approving.

2- Engagement Delivery:

• Oversees the development of a dynamic, risk-based Platform IA Plan which is periodically refreshed to capture key and emerging risks and trends which feeds into the prioritized, overall, IA plan.
• Proactively monitors the platform risk environment by developing an understanding of any pertinent industry standards and keeping up to date with relevant trends.
• Provides early identification of key areas of concern for the platform and adjusts the plan accordingly.
• Oversees effective and efficient assurance and advice to enable complete and collaborative delivery of both the Platform and overall IA Plan, including the follow-up of management action plans.
• Drives the use of analytics (throughout the audit lifecycle), to achieve efficiencies and deeper insights.
• Supports the IA Team (as required) in managing client conversations (including engagement scopes and adverse reports), and influencing the business to implement management action plans.
• Ensures timely, simple, pragmatic, and easy to read reporting is provided for inclusion in AC reporting.
• Maintains oversight of Department IA reports to ensure consistency of ratings and identification of emerging risks and themes.

3- Business Partnering:

• Creates, develops, and maintains strong relationships with management, to keep abreast of their changing business needs.
• Oversees the delivery of impactful communication to management through tailored platform communication.
• Escalates overdue action plans to senior management and CIA for appropriate intervention.
• Supports in building and sustaining independent and objective relationships with other assurance and consulting service providers, including the development and implementation of an aligned assurance framework.
• Ensures the development of effective relationships with relevant regulators for the IA Department, to equip the IA Team with a sufficient understanding of regulatory risk and compliance requirements and the impact of regulatory changes.

4- Collaboration:

• Shares knowledge across the IA Team, the IA Function, as appropriate.
• Collaborates with IA and Functional IA peers to promote the sharing of resources and information to leverage the Function’s key strengths and support the efficient and high quality delivery of the overall IA plan.
• Continually updates knowledge of latest IA global best practice (through proactive networking, participation in benchmarking opportunities and online research), and identifies enhancements to the Function’s practices to further enhance core operations.
• Constructively challenges peers to ensure that the IA Function performs at its optimal level.
• Recognizes, rewards, and celebrates collaborative behavior across the IA Team and Function.

5- Budget Planning and Monitoring:

• Supports in monthly budget reporting for the Function and liaises with Department heads to ensure that the Function’s overall position against its budget is properly managed.
• Supports the effective management of the IA and Operations expense budgets, including travel and consultant expenses.
• Supports the provision of periodic updates on spend against IA budget as required for consolidation.

6- Management Reporting:

• Supports the rollout and subsequent management of an automated management information system (i.e. PowerBI) which is actively used across the IA teams and Function to identify performance gaps and opportunities for improvement.
• Supports and monitors Function IA information (including the Performance Scorecard and other KPIs) to ensure that it is complete and accurate, and provides regular updates to the IA management and team.
• Supports the CIA with AC reporting. • Ensures complete and accurate IA information is maintained and provided regularly.

7- IA Leadership and People Management:

• Plans, manages, and reviews direct reports’ and IA Team’s performance to track that KPIs are achieved.
• Provides honest and timely feedback, development and coaching and takes prompt action, where necessary, to ensure progressive development and learning opportunities are pursued.
• Establishes clear direction, prioritization, and delegation across the team. • Drives the team’s development, encouraging secondment opportunities both into and outside of IA. • Supports the IA Team in periodically assessing the IA Team’s skills and competencies.
• Contributes to the development and execution of the Function’s Strategy and initiatives.
• Inspires the team to capture and act on ideas to contribute towards the strategic direction of IA.
• Leads and supports assigned IA strategic initiatives.
• Oversees the team’s participation in the Quality Assurance and Improvement Program (QAIP), including timely and effective delivery of QA peer reviews (as required). Ensures that feedback received is appropriately addressed. • Advocates Quality across the Department and project IA Function.

8- Policies and Procedures:

• Supports the administration and maintenance of the audit management system to drive conformance to the Function’s procedures.
• Undertakes all relevant activities above in line with the IA charter and procedures, including the IA Manual.

Communication and Working Relationships

• Internal: All relevant group departments
• External: Consultant and External Auditors.

Academic Qualifications and Experience:

• Bachelor’s degree in accounting, Finance, Business Administration, or any other related field.
• Minimum of 10 years of experience in progressive and more complex senior- level roles.
• At least 3-5 years of relevant experience leading internal audit teams.
• Preferably with experience leading a range of internal audit activities across multiple industries.
• Preferable Professional Certifications: • A recognized professional certification such as CIA, CFE, CISA, CPA, ACCA, ACA, CMA, CCSA or equivalent.

Skills & Competencies:

Technical & Behavioral Competencies

• Ability to influence, communicate and lead discussions with executive and senior management.
• Strong relationship management skills, based on credibility, rapport and trust.
• Strong analytical skills and understanding of data analytics tools and techniques.
• Strong financial accounting knowledge.
• Proven ability in business process improvement.
• Proven ability in leading internal audit team.
• In-depth knowledge of governance, risk and control frameworks and concepts, including the IIA’s International Professional Practices Framework (IPPF).
• Strong business acumen and industry knowledge.
• Advanced critical thinker, providing objective assurance and insight to management.
• Strong coaching skills.

Personal Attributes:

• High level of integrity, professionalism, and attention to detail.
• Strong organizational skills with the ability to manage multiple priorities and deadlines.

Language Proficiency:

• Arabic: proficient
• English: proficient