Assistant Manager, Group Internal Audit

Job Description

The Assistant Manager will be the assigned Team Leader for all planned assurance audits of the entity’s operations and is to manage the internal audit team. The job is to provide independent and objective assurance and consultancy services to add value and improve the organisation’s operations (particularly on the effectiveness of risk management, control, compliance, and governance processes).

The Assistant Manager must be proficient at examining and analysing financial and operational records of the company to determine the adequacy, effectiveness, and efficiency of the internal control systems, including the quality of ongoing operations and compliance with applicable laws, regulations, and board policies/procedures.

The incumbent must be able to manage and resolve conflicts with internal and external stakeholders in the conduct of the internal audit in order to ensure the internal audit objectives are met. The incumbent is to also assist in investigations and governance-related audits as assigned by the Head of Internal Audit.

The job also requires the incumbent to provide ongoing consultation to stakeholders as and when required and/or directed by the Internal Audit & Consulting Manager or the Head Group Internal Audit (Management, HODs, and employees in general).

KEY ACCOUNTABILITIES

A. Internal Audit

• Assists with the development of a risk-based internal audit plan and participates in the presentation/discussion of the proposed audit plans with key personnel and HODs;
• Identify and assess areas of significant business risk that raise a concern and conduct the required internal audit procedures;
• Review group companies’ internal controls and operational procedures to ascertain their efficiency, adequacy of controls and compliance with policies and procedures; and make recommendations to improve operations;
• Conduct preliminary surveys and risk assessments to understand the audit environment, including key business risks and controls;
• Assess the design and effectiveness of internal controls and compliance with corporate policies and procedures, including assessing the reliability of information used in control performance;
• Manage the assignments day-to-day to ensure that it is completed based on the agreed timeline and within the allocated resources;
• Participate actively in the audit planning, fieldwork, and reporting. Develop the audit programs or review the audit programs prepared by the internal audit team, and escalate it for approval from the Internal Audit & Consulting Manager;
• Develop and document risk-based audit plans, objectives, scope, timing, and resource of the audit assignment, seeking input from the Internal Audit & Consulting Manager and/or Head Group Internal Audit and ensure that the Auditee has a clear understanding of the audit scope by conducting the Audit Entry meeting and further discussion with the Department Managers and/or HODs;
• Work with the Internal Audit & Consulting Manager to plan the allocation of audit work within the team, matching individuals’ abilities and experience to the requirements of the assignments;
• Manage the Internal Audit documentation (Internal Control Questionnaires, Internal Audit narratives, Process Flowcharts) and review the accuracy of the documentation as prepared by the Internal Audit team.
• Perform internal audit procedures, including walk-throughs, preparation of narratives and business risk and control matrices; identifies control gaps and weaknesses to be included in the internal audit scope;
• Conduct interviews with senior personnel and also guide the less experienced team members to conduct the interviews, review documents, develop and administer the internal control questionnaires and compose summary memos, including all other forms of communication with the Auditee during the Audit information gathering, fieldwork, and reporting;
• Identify, research, and document audit issues and recommendations for improvement using independent judgment concerning areas being reviewed as the Audit Team Leader;
• Monitor the progress and quality of the audit team's work and working papers, and provide feedback to team members on their performance;
• Regularly review the progress of the assignment, assessing the likely issues/findings and ensuring that they are fully supported by appropriate evidence, and re-directing the work to pursue new lines of enquiry where necessary;
• Ensure that the team prepares clear, well-organised, logically sound working papers documenting the evidence and thought process supporting their conclusions;
• Review the internal audit working papers of the team members to ensure that they sufficiently document information obtained, analysis made, and support conclusions in accordance with Internal Audit standards to ensure compliance with the standards and Duopharma Biotech’s Internal Audit Manual;
• Determine the sufficiency of the audit work done and evidence collated to support the findings in consultation with the Internal Audit & Consulting Manager;
• Develop preliminary findings and formulate recommendations that deal with the root causes of issues and their impact on the organisation. Initiating and attending meetings with the auditees. Obtaining the buy-in from the Auditee on audit issues and working jointly with them in developing practical recommendations on the effectiveness of their business unit's internal control structure along with suggestions that improve the effectiveness and/or efficiency of a control or process;
• As part of the team, present clear and concise observations to Management in writing (internal audit reports and exit meeting notes) and verbally during the Internal Audit Exit meeting by identifying the areas of concern, the root causes, recommending improved internal controls and business processes, and ensure that corrective action plans are developed reasonably to address the Internal Audit findings;
• Encourage the team and be approachable to members' questions/concerns, and seek regular input and review from the Internal Audit & Consulting Manager;
• Maintain effective working relationships with the auditees and Management, and adapt behaviour appropriately when dealing with different clients and staff grades;
• Develop and maintain productive relationships throughout the company and within the department;
• Manage and resolve conflicts with internal and external stakeholders in the conduct of the internal audit in order to ensure the internal audit objectives are met within the agreed timeline;
• Apply and implement agile internal audit processes in engagement execution;
• Participate in Internal Audit process improvements; and
• The Team Leader is to co-supervise the follow-up audits that will be led by the Audit Executive in order to monitor the Management’s interventions to the identified audit issue.

B. Internal Audit Quality Assurance Review

• To have a clear understanding of the International Standards for the Professional Practice of Internal Auditing Requirements and the scope of Quality Assurance and Improvement Programme (QAIP);
• To lead the drafting of a Quality Assurance Review Plan in accordance with the IPPF standards;
• To assess the efficiency and effectiveness of the internal audit (IA) activities; and
• To conduct assessment of the Internal Audit activity for conformance with IPPF.

C. Investigations / Ad-Hoc Reviews

• Identify situations that increase the probability of fraud occurrence during the course of the Audit that requires an ad-hoc review to address the identified red flags;
• Assist in performing various audit and financial investigative procedures suspected of having committed fraud or abuse; and
• Collect and analyse data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.

D. Control Self-Assessment (CSA) Program / Consulting

• Assist the Internal Audit & Consulting Manager in carrying out the CSA workshops and be part of the workshop by facilitating the risk and control reviews (“As a Facilitator”), done by the respective departments;
• Assist the Internal Audit & Consulting Manager with ad-hoc reviews and consulting requests from the Management or the Board Audit Committee.

E. Reporting (Internal Audit, Investigation and Consulting)

• Produce a clear, concise, logical and technically sound summary of findings/reports, incorporating the work of the team and feedback from the Auditee, for review by the Internal Audit & Consulting Manager and the Head Group Internal Audit;
• Be the key liaison with the respective Auditees and HODs on the timely development and response from the Management on the action plans to mitigate the identified weaknesses and also to provide thoughts and assistance on the appropriateness of the identified mitigation plan; and
• Prepare the Internal Audit Final Draft Report incorporating the Management Action Plan and the Internal Audit Executive Summary that is to be reviewed by the Internal Audit & Consulting Manager and the Head Group Internal Audit.

F. Leadership and Staff Development

• Provide on-the-job coaching, guidance, and technical support and assess team members’ performance. The Team Leader is to provide constructive on-the-job feedback/coaching throughout projects to less experienced team members and may be responsible for providing formal written feedback for less experienced team members at the conclusion of a project; and
• Requires the ability to work independently under general supervision with considerable latitude for initiative and independent judgment.

G. Administrative

• Engage in continuous knowledge development regarding the industry and sector’s rules, regulations, best practices, tools, techniques, and performance standards.
• Undertake other duties and responsibilities as directed by the Head Internal Audit.

REQUIREMENTS

• University Degree/Professional Qualification in Accounting/Auditing or equivalent
• Certified Public Accountant (CPA), Certified Internal Auditor and/or Certified Fraud Examiner (CIA) or equivalent designation preferred.
• Minimum five (“5”) years of relevant experience with at least three (“3”) years in Internal Auditing / Assurance;
• Demonstrated experience managing internal audit assignments either as a team leader or in a sole contributor role.
• Requires a fundamental understanding of the IIA Standards for the Professional Practice of Internal Auditing (IPPF) and the Code of Ethics.
• Requires strong analytic and problem-solving capabilities and the ability to identify solutions and recommendations that effectively address business and control needs.
• Advanced computer skills in MS Office, accounting software, and databases.
• Excellent verbal and written communication and presentation skills, and strong interpersonal skills.