Head Of Internal Audit

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Job ID:

2488

Location:

Jeddah 

Category:

Accounting, Business Development, Management
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Job Views:

787

Posted:

03.14.2017
col-wide 

Occupations:

Accounting-Finance: General-Other: Accounting-Finance
Business-Strategic Management: Business Unit Management, General-Other: Business-Strategic Management

Job Description:

Job description

· Define and manage the internal audit function’s purpose, authority, responsibility, independence and objectivity.

· Articulate a strategy for the Internal Audit Function that supports business strategy and incorporates leading internal audit practices.

· Prepare and administer the department annual plan and budget, and exercise discretion in the review of records to ensure confidentiality.

· Recommend necessary actions to the Management Team in order to ensure sustainable business performance and shareholder value creation.

· Liaise closely with the IT function to ensure that the IT systems in use at Bupa Arabia comply with the established standards of quality, integrity and security.

· Assess and take account of macroeconomic and microeconomic factors and the impact on Bupa Arabia.

· Develop a flexible audit plan using appropriate risk-based methodology, including any risks or control concerns identified by management and submit that plan to the Audit Committee for review and approval.

· Review the audit plan on an ongoing basis to ensure that it reflects any changes to the business’s risk profile. Adjust team priorities to new and changing priorities of Bupa Arabia.

· Regularly communicate to the Audit Committee information on the progress and results of the audit plan, as well on the sufficiency of the Internal Audit resources.

· Supervise the work of audit managers auditors in reviews of business systems and activities, review and edit audit work papers and documentation (control test sheets) and evaluate the work of auditors in respect of attainment of audit objectives.

· Obtain, analyse, and appraise information as a basis for an informed, objective conclusion on the adequacy and effectiveness of the control system and the efficiency of performance of the activity being reviewed.

· Review and issue the final audit report including the improvement program to the Audit Committee as a result of the audits.

· Ensure timely completion of audits and present the key Audit observations\issues to Audit Committee on a timely basis.

· Report any restrictions of scope or denial of access to records or documents to the Audit Committee.

· Establish and manage a follow-up process covering all audit recommendations to monitor and ensure that management actions have been effectively implemented or that senior management has accepted the risk of not taking action.

· Reports the outcome of the follow up reviews to the relevant management team and the Audit Committee on a predefined timescale.

· Provide financial information and supporting documents as may be required to external auditors and ensure that it is accurate and timely.

· Liaise with the External Auditors during their visits to Bupa Arabia entities.

· Together with the Group Financial Officer, review the Financial Reports received from the external auditors on the adequacy of accounting procedures and controls, and observance of financial rules and regulations.

· Agree with other Senior Management on action plans to resolve issues highlighted in the audit reports.

· Provide leadership, technical guidance and operational support, as well as a professional consulting advice on application of organizational rules, regulations, systems and procedures, taking initiative on management improvement at all levels as and when required.

· Develop engagement with management and support enterprise wide initiatives thus ensuring that appropriate consideration of risk and control is taken.

· Define the skills and resources required by the audit team and monitor the composition of the team to ensure that it has sufficient skills and resources to conduct audits on the audit plan and fulfill its remit.

· Establish standards of audit performance and, by review, determine that performance meets the standards.

· Counsel and guide staff to ensure that the engagements objectives are met and that adequate, practical coverage is achieved.

· Be responsible for the selection, training and supervision of the audit resources and talent pipeline.

· Contribute to recruitment, guide, direct and supervise direct reporting staff and ensure their development and motivation to maximise their contribution to meet the department and the function.

· Anticipate reactions to change and adapts own style to support others.

· Direct audit engagements in line with mandatory standards (IIA), ensuring they are maintained in the planning, execution and collection of information, as well as performing audit assignments with proficiency and due professional care.

· Establish a quality assurance and Improvement programme which covers all aspects of the Internal Audit function.

· Cooperate and liaise with Bupa Group to deliver a consistent audit process and activity and to ensure that the internal audit best practice and standards are maintained.

· Keep abreast of and advise the Audit Committee on regional/international trends in Internal Audit Management, investigation and reporting techniques, etc... and recommend for consideration and implementation at Bupa Arabia.

· In close liaison with other departments at Bupa Arabia, identify and assess/evaluate new relevant methodologies, procedures and technologies and make recommendations on opportunities to improve the process and execution of Internal Audit.

· Assist the management in development of an Internal Financial Control Framework.

· Assess the robustness & effectiveness of the Internal Control Framework and provide independent & unbiased assurance to the Audit Committee on the same.

· Facilitate in establishing a framework for fraud prevention and control, split by preventive, detective and corrective.

· Conduct formal investigation of suspected fraudulent activities within the organization and when applicable

· Facilitate in publishing investigation reports as per the process.

· Manage special audit investigations as assigned to the Audit Department who prepares relevant reports and submits findings to the respective stakeholder.

· Update the Audit Committee and senior management on any significant risk exposures and control issues, including fraud risks, governance issues and other matters arising.

· Maintain a current understanding of the latest global developments and regulatory and legal framework within which Bupa Arabia operates.

· Coordinate the scope of work with the external auditors, as appropriate, for the purpose of providing optimal audit coverage in an efficient manner.

· Engage with regulatory auditors and share internal audit reports, when required.

· Maintain and manage effective working relationships with the Audit stakeholders (i.e. Risk and Compliance Committee (CET), Leaderships team, Management team, Bupa Group (UK), SAMA & CCHI, Compliance and Legal teams, CFO and FRCD).

Company Info
Bupa Arabia
Jeddah, Saudi Arabia

Phone:
Web Site: www.bupa.com.sa

Company Profile

Company Info


Bupa Arabia
Jeddah, Saudi Arabia
Phone:
Web Site: www.bupa.com.sa

Head Of Internal Audit

col-narrow-left 

Job ID:

2488

Location:

Jeddah 

Category:

Accounting, Business Development, Management
col-narrow-right 

Job Views:

787

Posted:

03.14.2017
col-wide 

Occupations:

Accounting-Finance: General-Other: Accounting-Finance
Business-Strategic Management: Business Unit Management, General-Other: Business-Strategic Management

Job Description:

Job description

· Define and manage the internal audit function’s purpose, authority, responsibility, independence and objectivity.

· Articulate a strategy for the Internal Audit Function that supports business strategy and incorporates leading internal audit practices.

· Prepare and administer the department annual plan and budget, and exercise discretion in the review of records to ensure confidentiality.

· Recommend necessary actions to the Management Team in order to ensure sustainable business performance and shareholder value creation.

· Liaise closely with the IT function to ensure that the IT systems in use at Bupa Arabia comply with the established standards of quality, integrity and security.

· Assess and take account of macroeconomic and microeconomic factors and the impact on Bupa Arabia.

· Develop a flexible audit plan using appropriate risk-based methodology, including any risks or control concerns identified by management and submit that plan to the Audit Committee for review and approval.

· Review the audit plan on an ongoing basis to ensure that it reflects any changes to the business’s risk profile. Adjust team priorities to new and changing priorities of Bupa Arabia.

· Regularly communicate to the Audit Committee information on the progress and results of the audit plan, as well on the sufficiency of the Internal Audit resources.

· Supervise the work of audit managers auditors in reviews of business systems and activities, review and edit audit work papers and documentation (control test sheets) and evaluate the work of auditors in respect of attainment of audit objectives.

· Obtain, analyse, and appraise information as a basis for an informed, objective conclusion on the adequacy and effectiveness of the control system and the efficiency of performance of the activity being reviewed.

· Review and issue the final audit report including the improvement program to the Audit Committee as a result of the audits.

· Ensure timely completion of audits and present the key Audit observations\issues to Audit Committee on a timely basis.

· Report any restrictions of scope or denial of access to records or documents to the Audit Committee.

· Establish and manage a follow-up process covering all audit recommendations to monitor and ensure that management actions have been effectively implemented or that senior management has accepted the risk of not taking action.

· Reports the outcome of the follow up reviews to the relevant management team and the Audit Committee on a predefined timescale.

· Provide financial information and supporting documents as may be required to external auditors and ensure that it is accurate and timely.

· Liaise with the External Auditors during their visits to Bupa Arabia entities.

· Together with the Group Financial Officer, review the Financial Reports received from the external auditors on the adequacy of accounting procedures and controls, and observance of financial rules and regulations.

· Agree with other Senior Management on action plans to resolve issues highlighted in the audit reports.

· Provide leadership, technical guidance and operational support, as well as a professional consulting advice on application of organizational rules, regulations, systems and procedures, taking initiative on management improvement at all levels as and when required.

· Develop engagement with management and support enterprise wide initiatives thus ensuring that appropriate consideration of risk and control is taken.

· Define the skills and resources required by the audit team and monitor the composition of the team to ensure that it has sufficient skills and resources to conduct audits on the audit plan and fulfill its remit.

· Establish standards of audit performance and, by review, determine that performance meets the standards.

· Counsel and guide staff to ensure that the engagements objectives are met and that adequate, practical coverage is achieved.

· Be responsible for the selection, training and supervision of the audit resources and talent pipeline.

· Contribute to recruitment, guide, direct and supervise direct reporting staff and ensure their development and motivation to maximise their contribution to meet the department and the function.

· Anticipate reactions to change and adapts own style to support others.

· Direct audit engagements in line with mandatory standards (IIA), ensuring they are maintained in the planning, execution and collection of information, as well as performing audit assignments with proficiency and due professional care.

· Establish a quality assurance and Improvement programme which covers all aspects of the Internal Audit function.

· Cooperate and liaise with Bupa Group to deliver a consistent audit process and activity and to ensure that the internal audit best practice and standards are maintained.

· Keep abreast of and advise the Audit Committee on regional/international trends in Internal Audit Management, investigation and reporting techniques, etc... and recommend for consideration and implementation at Bupa Arabia.

· In close liaison with other departments at Bupa Arabia, identify and assess/evaluate new relevant methodologies, procedures and technologies and make recommendations on opportunities to improve the process and execution of Internal Audit.

· Assist the management in development of an Internal Financial Control Framework.

· Assess the robustness & effectiveness of the Internal Control Framework and provide independent & unbiased assurance to the Audit Committee on the same.

· Facilitate in establishing a framework for fraud prevention and control, split by preventive, detective and corrective.

· Conduct formal investigation of suspected fraudulent activities within the organization and when applicable

· Facilitate in publishing investigation reports as per the process.

· Manage special audit investigations as assigned to the Audit Department who prepares relevant reports and submits findings to the respective stakeholder.

· Update the Audit Committee and senior management on any significant risk exposures and control issues, including fraud risks, governance issues and other matters arising.

· Maintain a current understanding of the latest global developments and regulatory and legal framework within which Bupa Arabia operates.

· Coordinate the scope of work with the external auditors, as appropriate, for the purpose of providing optimal audit coverage in an efficient manner.

· Engage with regulatory auditors and share internal audit reports, when required.

· Maintain and manage effective working relationships with the Audit stakeholders (i.e. Risk and Compliance Committee (CET), Leaderships team, Management team, Bupa Group (UK), SAMA & CCHI, Compliance and Legal teams, CFO and FRCD).

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