Chief of Internal Auditor

Location: Investment and Credit Bank, Tajikistan Head office

Department: Internal Audit

Reports to: Board Audit Committee functionally and administratively to the Chief Executive Officer

1. Purpose of the job

The Chief Internal Auditor is Independent from the Management and is responsible for managing the activities of the Internal Audit Department.

The CIA ensures that the Internal Audit Department conducts its work to identify potential risks, address areas of concern and highlight deviations from prescribed policies and procedures by the bank and/or regulatory authorities or sound / best business practices where no policies exist. The incumbent ensures that set audit procedures are followed and work is conducted as per the Internal Audit Manual.

The CIA exercises his/her initiative and judgment in developing methods and procedures, staff capacity, and directing activities of the audit staff. S/he confers with senior management and/or with the Board Audit Committee on policies, programs, and audit activities of the IAD; makes recommendations regarding specific areas of responsibility. S/he also supervises, reviews, and participates in the training of the Internal Audit personnel and works closely with all departments at all levels within the entity and with outside agencies, as required.

Performance of the CIA is reviewed through meetings and reports, and is based on attainment of IAD goals and objectives set forth in the IAD charter as per annual audit plan approved by the Audit Committee.

The Chief Internal Auditor understands and attempts to identify both external and internal risks that can influence the Bank and highlights the risks to the Senior Management, CEO and the Board Audit Committee so that measures are taken to eliminate or mitigate existing and anticipated risks.

The appraisal of the CIA will be approved by the Chair of the Audit committee, who also ensures adequate resources are made available.

2. Key accountabilities

·       Execute – within the frame of his/her entitlements and responsibilities – the Internal Audit Policy of the Bank as updated from time to time;

·       Continuously review and propose changes to the Internal Audit Policy based on lessons learnt from the day to day operation of the Internal Audit Department;

·       Lead the Internal Audit Department administratively and operationally;

·       Prepares annual risk-based Audit program and annual plan in accordance with the functions and policies of the Bank;

·       Plans and organizes the activities of the Internal Audit Department. Determines, plans, and supervises the work of auditing professionals and other subordinates in the performance of internal audits;

·       Prepares terms of reference for any work outsourced to external experts and coordinates with them.

·       Reviews the risk exposure during internal audits whether according to the Annual Plan as approved by the Internal Audit Committee or on an ad hoc basis if deemed necessary.  Identifies risk areas and suggests practical and workable recommendations to mitigate them;

·       In matters of credit risk, he will coordinate with the Chief Risk Officer to conduct business risk reviews (BRR) of the portfolio.

·       Ensures maintenance of high departmental standards and quality of audit projects. Reviews observations along with working papers of completed audit missions performed by audit staff to ascertain adequacy of recorded information and determine the sufficiency and appropriateness of required audit evidence;

·       Evaluates control environment including soundness of financial and operating controls around various Departments of the Bank and provides recommendations on existing policies and procedures to further strengthen the same through presentation of audit reports;

·       Follows up on the implementation on the recommendations proposed by the IAD and agreed earlier by management;

·       Investigates allegations of fraud, misappropriation or possible loss to the Bank and suggests corrective and preventive measures to avoid future mishaps;

·       Arranges regular meetings with the Board Audit Committee and presents findings and recommendations concerning audited activities to the Audit Committee and/or the Chief Executive Officer. Performs other duties as may be requested by the Audit Committee;

·       Inform the Board Audit Committee – ad hoc – on findings, which may have significant negative impact on the Bank and need to be addressed immediately;

·       Signs-off on all audit report(s) to be submitted to the Audit Committee to assure full and complete reporting in a professional manner;

·       Provides advice to senior / line management whenever they seek Internal Audit’s views on resolving complex issues confronted by them without compromising on the independence of IAD since these are purely advisory service;

·       Reviews compliance on the established policies & procedures and regulatory requirements based on the risks involved.

·       Ascertains the extent to which the Bank’s assets are safeguarded and deployed gainfully.

·       Develop second line in accordance with overall succession planning of the Bank.

3. Credentials/capability

Minimum qualification required:

-       Bachelor’s or Master’s degree in accounting, finance, Business Administration or other business related filed.

-       Professional audit certification such as CIA/CBA/CPA/CISA/ CFE / ACCA is desirable.

-       Experience at comparable line/ Senior Auditor level and experience in auditing operation systems, database and other technological areas.

Knowledge/experience required beyond minimum qualification:

-       Minimum 5 years of working experience in banking industry, of which at least 3 years in managerial position. Previous experience in internal audit is desired. Experience in microfinance would be preferred.

-       Awareness and knowledge of remote auditing techniques.

-       Using data analytics techniques to increase efficiency of audits.

Other key factors:

-       Good knowledge of Information Technology, specially accounting/audit packages, MS Office;

-       Advanced knowledge of International Standards on Auditing and IFRS along with knowledge of financial institution auditing and financial reporting practices;

-       Comprehensive knowledge of NBT and other regulatory requirements, banking and corporate laws

-       Excellent oral and written communication skills in Tajik and English

-       Attention to detail and excellent analytical skills

-       Sound independent judgment

-       Able to travel extensively to field

If you are Interested for this position please send your resume to hr@icb.tj

Please mention the position title in the subject line.

Only short listed candidates will be contacted for the interview.