Head of Internal Audit:  Part time, 3 days per week, LONDON

JOB PURPOSE

Manage a professional, independent, risk-based, cost effective, quality audit of operational and financial areas of the Bank using mainly external resources. This is a Senior Management Function (SMF5).

DUTIES & RESPONSIBILITIES

The Internal Audit Manager will be responsible for executing the audit programme using a combination of external resources as well as undertaking some internal audits. This includes:

• scope of work
• cost
• timings
• format of audits including risk metrics to ensure consistency
• ownership and understanding of reports including recommendations and outcomes

To note: Whilst the majority of Internal Audits are to be outsourced the accountability remains with the Bank through the HOIA, the Chair of Audit and Risk Committee (BARC)

Job Description

• Review and presents to BARC the Audit Universe each year and half yearly to ensure the Audit Universe is complete and risks are updated as required.
• Plans and agrees with the Chairman of the Audit & Risk Committee a risk-based audit programme for the year that reflects the nature, scale, and complexity of a small bank.
• Audits are conducted in a professional, independent, risk-based, cost-effective quality audit covering operational and financial areas of the Bank.
• Assesses the effectiveness of systems of internal control and their compliance with local legislation and the Bank’s policies and Procedures Manual.
• Checks adequacy of accounting systems for recording and protecting the Bank’s assets and liabilities and contingent commitments.
• Assesses the quality of credit and identifies weaknesses in credit appraisal, control, and reporting.
• Reviews integrity of key management information used in business decision making.
• Makes recommendations to strengthen the business effectiveness and efficiency by promoting best practice to management to optimise controls thereby both ensuring a quality service to the Bank’s customers and aiding management in its risk control.
• Ensures the risk of fraud is reduced through the promotion of suitable preventative policies and practices.
• Ensures the Bank’s financial assets are protected, and the physical security of staff and customers is effective.
• Stands ready to act in a consultancy role to the Audit Committee and the Bank’s management.
• Risk assesses all new products, procedures, systems and processes prior to implementation.
• Interfaces with the outsource provider and brings to the attention of management issues in such areas as:

1. Prepares issue sheets, bringing to the attention of line management control deficiencies and weaknesses and makes recommendations for corrective action.
2. Reviews findings with branch and department managers as well as senior management.
3. Prepares reports to the appropriate levels of the executive and management on inspections /audits and other work undertaken to include scope, objective, analysis of findings, recommendations for corrective action and makes a general assessment of the area reviewed.
4. Where necessary, performs follow-up reviews on the effectiveness of corrective actions taken and/or alternative actions agreed.
5. Where necessary, performs independent special investigations into reported loss situations / potential staff fraud and makes reports to the Chairman of the Audit & Risk Committee and CEO the results and conclusions, making recommendations for subsequent action.
6. Liaises with External Auditors, Reporting Accountants, PRA/FCA Regulators and other external authorities as required.
7. Acts as Whistle-blowing Officer to the Bank, investigating, reporting and giving advice where appropriate.
8. Assists Compliance Department, in ensuring the risk register in the Ten Risk Manager System is maintained and kept up to date, consulting with senior managers and staff. Other Responsibilities Attendee at Board Audit & Risk Committee Attendee at Management Risk Committee Attendee at Executive Risk Committee

Other Responsibilities

• Attendee at Board Audit & Risk Committee Attendee at Management Risk Committee Attendee at Executive Risk Committee

Experience & Key Personal attributes

• Previous Internal Audit experience, ideally in a regulated financial institution
• Excellent communicator - both written and oral
• Outcome and results focused
• Excellent analytical skills

Our client is an equal opportunity employer, and ensures that no applicant is subject to less favourable treatment on the grounds of gender, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, responsibilities for dependants, physical or mental disability. Candidates are selected for interview based on their skills, qualifications and experience.

Please note that we can only consider candidates who are eligible to work in the UK and are able to provide relevant supporting documentation.

For further information, please contact: 

Enrico Castagnetti, Wintermann Search & Selection Limited

Mobile:       +44 (0)7711 267500

Email:         enrico@wintermann.co.uk