Head Office Senior Auditor

Bank of Commerce (Philippines); Mandaluyong; On-site; PHP 900,000 - 1,400,000; Full time

Job summary

Bank of Commerce (Philippines) seeks an experienced Head of Internal Audit to supervise a team of audit examiners at Head Office. You will safeguard assets, review financial records, test data reliability, and ensure robust internal controls with timely, accurate reporting.

You will help shape the Head Office audit plan, coordinate with process owners, and oversee audits of head office units. You will review junior auditors' work, drive improvements, and report findings to management and the

Responsibilities

• Assist to achieve the set objectives, targets, and strategies of the Department in support of the goals and objectives of the Division.
• Performs and/or assists in the financial and operational audit of Head Office Units.
• Supervise or monitor: timely submission of audit reports to Management and the Board's Audit Committee; compliance of auditees with requirements of BSP and other government regulatory bodies; compliance of auditees to corporate policies and procedures; implementation of approved policies, plans and budget to achieve the overall objectives and targets of the Group.
• Review audit procedures and programs executed by the junior auditor.
• Recommends to management aspects that are not in compliance or needs improvement.
• Reports the progress and development of ongoing audit examinations in the Departments.
• Reviews and evaluates reports of the junior auditors to determine whether the: audit exceptions are properly presented to give a fair and true view of the existing conditions of the units under audit and that recommendations to improve controls are adequate and effective; auditee's comments or replies are responsive to the audit exceptions; various rules, regulations, and other requirements of the BSP and other regulatory bodies are complied with; Bank assets are properly accounted for and expenditures are legitimate and authorized.
• Conducts and/or assists the Department Head in the final discussion with the Auditees regarding audit exceptions as well as the auditee's responses and applicable recommendations; follows up audit reports to conclusion.
• Participates in the sessions and deliberations of auditors on audit findings and internal control procedures.
• Handles the monitoring of audit issues on released reports/memoranda of Internal Audit Division Head Office Department.
• Disseminates Bank policies and BSP circulars and memoranda to subordinates during staff meeting to ensure that these are properly understood.
• Directs, guides, trains, motivates, and evaluates performance of junior auditors supervised during audits.
• Formulates monitoring systems and control measures to improve efficiency of the Department.
• Ensures coordination and harmonious working relations between the Departments of Internal Audit Division and with other work units of the Bank.
• Ensures adherence of junior auditor to company policies, procedures and control.
• Attends to opening of bids and/or offers received by the Bank from prospective buyers, suppliers, service-provider and other parties who are interested to transact with the Bank; attests to the completeness and accuracy of information per offer documents during the opening.
• Assists in the training/development of junior auditor, including selection and administration of training courses; administration of the career planning and performance evaluation processes in internal audit.
• Assists in administering/monitoring quality assurance and process improvement activities.
• Attend various trainings, seminars and other learning activities to keep abreast with current changes and emerging best practices of the internal auditing profession.
• Performs other duties as may be assigned by the Department Head/CAE.

Job description

Supervise the team of audit examiners in ensuring that the Bank's resources including its investment in operational units and departments at Head Office are adequately protected and accounted for, through analysis and review of financial transactions and records, test reliability of the accounting data and effectiveness of internal control, and attainment of maximum operational efficiency through timely submission of informative, reliable and accurate reports.

Contribute to the Head Office annual audit plan using the input from the team and the risk assessment from the process owners to identify priorities and resource requirements for the year.

Assist in planning, organizing, directing, coordinating, and controlling the activities of the Head Office Audit activities.

DUTIES AND RESPONSIBILITIES:

1. Assist to achieve the set objectives, targets, and strategies of the Department in support of the goals and objectives of the Division.
2. Performs and/or assists in the financial and operational audit of Head Office Units.
3. Supervise or monitor:
   • timely submission of audit reports to Management and the Board's Audit Committee;
   • compliance of auditees with requirements of BSP and other government regulatory bodies;
   • compliance of auditees to corporate policies and procedures;
   • implementation of approved policies, plans and budget to achieve the overall objectives and targets of the Group.
4. Review audit procedures and programs executed by the junior auditor.
5. Recommends to management aspects that are not in compliance or needs improvement.
6. Reports the progress and development of ongoing audit examinations in the Departments.
7. Reviews and evaluates reports of the junior auditors to determine whether the:
   • audit exceptions are properly presented to give a fair and true view of the existing conditions of the units under audit and that recommendations to improve controls are adequate and effective;
   • auditee's comments or replies are responsive to the audit exceptions;
   • various rules, regulations, and other requirements of the BSP and other regulatory bodies are complied with;
   • Bank assets are properly accounted for and expenditures are legitimate and authorized.
8. Conducts and/or assists the Department Head in the final discussion with the Auditees regarding audit exceptions as well as the auditee's responses and applicable recommendations; follows up audit reports to conclusion.
9. Participates in the sessions and deliberations of auditors on audit findings and internal control procedures.
10. Handles the monitoring of audit issues on released reports/memoranda of Internal Audit Division Head Office Department.
11. Disseminates Bank policies and BSP circulars and memoranda to subordinates during staff meeting to ensure that these are properly understood.
12. Directs, guides, trains, motivates, and evaluates performance of junior auditors supervised during audits.
13. Formulates monitoring systems and control measures to improve efficiency of the Department.
14. Ensures coordination and harmonious working relations between the Departments of Internal Audit Division and with other work units of the Bank.
15. Ensures adherence of junior auditor to company policies, procedures and control.
16. Attends to opening of bids and/or offers received by the Bank from prospective buyers, suppliers, service-provider and other parties who are interested to transact with the Bank; attests to the completeness and accuracy of information per offer documents during the opening.
17. Assists in the training/development of junior auditor, including selection and administration of training courses; administration of the career planning and performance evaluation processes in internal audit.
18. Assists in administering/monitoring quality assurance and process improvement activities.
19. Attend various trainings, seminars and other learning activities to keep abreast with current changes and emerging best practices of the internal auditing profession.
20. Performs other duties as may be assigned by the Department Head/CAE.