Chief Audit Executive

ALLBANK (A THRIFT BANK), INC.; Mandaluyong; On-site; PHP 2,400,000 - 4,000,000; Full time

Job summary

The Chief Audit Executive at ALLBANK (A THRIFT BANK), INC. leads a strategic, risk-based internal audit plan and the internal audit function in line with the audit charter and IIA standards.

He/she provides assurance on risk management effectiveness, internal controls, and compliance with policies, laws, regulations, contracts, and regulatory requirements, while ensuring accurate reporting.

Responsibilities

• Develop annually a risk-based internal audit plan for Audit Committee review and approval.
• Oversee implementation of the approved plan and ensure proper resourcing.
• Coordinate with external auditors as needed.
• Investigate and report to Audit Committee on issues via Hotline/Whistleblower processes.

Job description

JOB SUMMARY

The Chief Audit Executive is responsible for AllBank’s strategic risk-based internal audit plan and managing the internal audit function in accordance with AllBank’s internal audit charter and the professional standards for internal auditing promulgated by the Institute of Internal Auditors.

Responsibilities include providing reasonable assurance on the effectiveness of the organization’s risk management and the strength of internal controls. The position assesses organization-wide compliance with AllBank’s internal policies and procedures, laws and regulations, contractual terms and conditions, assistance and acquisition regulations/requirements, efficiency of operations, and accuracy of programmatic and financial reporting.

The Head of Internal Audit reports directly to the Audit Committee of AllBank’s Board of Directors with administrative oversight from the President.

DUTIES AND RESPONSIBILITIES

• Develop annually a risk-based internal audit plan for Audit Committee review and approval. Oversee the implementation of the approved plan, ensure proper resourcing for implementation of the plan, and adjust the plan as needed in response to changes in AllBank’s business risks, operations, programs, systems and controls. Keep senior management and Audit Committee apprised of any changes needed to the internal audit plan.

• Ensure methodical documentation of work plans, testing results, conclusions and recommendations. Ensure follow up on findings and corrective actions.

• Provide technical assistance with investigations, special audits, and provide subject-matter expertise as needed.

• Remain current on audit and regulatory oversight trends and develop a risk-based approach incorporated into the annual audit plan.

• Perform organization-wide risk assessments to identify significant risks or exposure related to internal controls or compliance with AllBank’s policies and procedures, laws and regulations, sponsored contract and regulatory requirements, efficiency of operations, and accuracy of programmatic and financial reporting. Provide feedback and recommendations on business risks and improving operational efficiencies and processes where appropriate.

• Coordinate with the external auditors on select audits, as directed by the Audit Committee and senior management, to ensure the audit work remains within the prescribed guidelines.

• Coordinate and assist with the preparation of Audit Committee materials. Participate in quarterly or more frequent Audit Committee meetings.

• Investigate and report to the Audit Committee on activity reported through AllBank’s Hotline/Whistleblower processes and assist in investigations.

• Recommend organization-wide training based on gaps identified to ensure adherence to AllBank’s practices and policies. Stay abreast of emerging trends and successful practices in internal audit.

• Establish and assign departmental goals to team members and evaluate their performance.

• Responsible for coaching, mentoring, and developing career paths for direct reports.

• Scanning and uploading of Audit reports, attachments and necessary documents to Network attached storage server.

• Performs duties and responsibilities required under the latest manual of the operation pertaining to the position.

• Performs other task that may be assigned from time to time by the Management.