Leads activities of the internal audit function. Determines whether the ICIEC’s risk management, IT, governance and internal control processes are adequate and ensures risks are appropriately identified and managed. To identify opportunities for process improvements and value addition to organizational activities in order to safeguard the Corporation financial and physical assets, whilst ensuring compliance with ICIEC and the Group’s policies and procedures, all relevant regulations, laws, and standards.
Strategic & Operational Planning
Participate in the development of ICIEC Internal Audit strategy, budget and planning process – in conjunction with the Audit Committee as well as IDB Group overall strategy;
Provide input into the preparation of yearly audit plan;
Facilitate effective utilization of audit time budget to help complete the annual audit plan by the year end;
Contribute to identifying new opportunities and initiatives that enable the Internal Audit function to increase its impact;
Help monitor and track the on-going performance and quality of it services and outputs, identifying and initiating actions for improvement and innovation.
Technically lead audit assignments and perform risk assessment and prioritize risk areas to form the basis for annual audit plans;
Execute and implement agreed audit programs by maintaining relations with audited departments in order to obtain access to their documentation, reports, systems and personnel;
Identify and evaluate significant risk exposures in the normal course of operations;
Determine whether appropriate risk management processes are in place, adequate and effective, and recommend improvements;
Provide assurance on whether ICIEC risk management process is sufficient to protect the assets, reputation and on-going operations of the Group;
Identify the established objectives of a give business process, the risks to achieving these objectives, the controls to mitigate those risks, and the audit tests to ensure that such controls are in place and functioning adequately;
Lead any special audit assignments or investigations mandated by the Audit Committee or the CEO;
Participate in formulating the overall judgment/opinion about ICIEC risk management process and system of controls to senior management and the Audit Committee.
Audit Policies, Processes & Procedures
Ensure an effective and efficient audit function by implementing and monitoring the implementation of new audit systems, processes, tools and methodologies that are aligned to IDB Group’s audit practices and global best practices;
Monitor adherence to established or recommended audit procedures, methodologies, approach and systems and takes corrective action as necessary to ensure quality;
Evaluate the adequacy and effectiveness of the controls to mitigate risks, encompassing ICIEC’s governance, operations, and information systems;
Conduct interviews with Head of Department/Division/Function to determine business unit objectives, related risks, and management’s risk mitigation and control monitoring activities;
Research and review reference materials and background information on risk management methodologies as a basis to assess whether or not the process used by ICIEC is appropriate and represents best practices for the industry;
Review general controls of IT Management to ensure that proper controls are in place. Ensure IT Management has adequate standards in place for system development, data center operations & security, data base management & security, network administration and overall information security;
Assess Information security to ensure that information contained within workstations, servers, databases and IT system is accessible only by authorized personnel.
Technically lead preparation and analysis of audit reports, executive summaries etc. highlighting areas of risk and control and present recommendations on audit findings for president review and action;
Monitor the effectiveness of internal controls within ICIEC and present findings to IMC;
Participate in various committees such as Underwriting, Risk Management, Claims & Recovery (as an observer);
Prepare ad-hoc reports as / when required.
Field of Study
Accounting / Finance / Economics /any relevant discipline
Academic Qualifications and Relevant Experience
High School Diploma
Nature of Experience:
Knowledge of global Internal Audit methodologies
Advanced knowledge of international Accounting and Auditing standards
Knowledge of Shariah Laws
Professional Certifications (as applicable):
Prior experience in CA / ACCA / CPA / CIA (Certified Internal Auditor) preferably in the Export Credit/ Banking Industry. Experience in insurance market is necessary.
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