Overview of Position:
To provide an independent, objective assurance and consulting activity designed to add value and improve the BSJ's operations. He/she will assist the BSJ in meeting its objectives by reviewing and evaluating the effectiveness of risk management, control, and governance processes in the BSJ.
The incumbent is responsible for effectively directing and managing the Internal Audit Unit's activities and Chief Audit Executive will ensure impartiality, independence and objectivity, and continuous improvement of the internal audit unit as well as adherence to the relevant policies and procedures within the organization, as well as, ensuring conformity and compliance to legislative requirements and standards. The Chief Audit Executive reports functionally to the Audit Committee/Board, with administrative reporting to the Executive Director (ED).
Major Duties and Responsibilities:
Within the delegated authority and under appropriate supervision, the chief audit executive will be responsible for performing the following audit and administrative duties:
- Developing the risk-based audit plan and reporting requirements.
- Conducting risk assessments annually.
- Overseeing the audit process from start to finish.
- Submit, at least annually, to senior management and the Audit Committee/Board a risk-based internal audit plan for review and approval.
- Communicate to senior management and the Audit Committee/Board issues that may arise in the internal audit unit as well as significant interim changes to the internal audit plan.
- Review and adjust the internal audit plan, as necessary, in response to changes in BSJ’s business, risks, operations, programs, systems and controls.
- Ensure that each engagement of the internal audit plan is executed, including the establishment of objectives and scope, the assignment of appropriate and adequately supervised resources, the documentation of work programs and testing results, and the communication of engagement results with applicable conclusions and recommendations to appropriate parties.
- Follow up on engagement findings and corrective actions, and report periodically to senior management and the Audit Committee/Board any corrective actions not effectively implemented.
- Review and issue reports to Audit Committee/Board and management summarizing results of audit activities.
- Ensures the principles of integrity, objectivity, confidentiality, and competency are applied and upheld as well as cultivate an ethical culture.
- Review the internal audit charter and audit committee charter periodically and present it to senior management and the audit committee/board for review and approval.
- Leads and manages the internal audit unit function, which includes the internal audit team.
- Conducting performance appraisal of internal audit personnel and evaluation of internal audit performance.
- Provides support to team members by monitoring the operational function of area of responsibility to ensure that audit teams operate in keeping with established policy.
- Overseeing the hiring of new auditors and ensuring that they are trained and certified for their positions.
- Manage the activities of the Unit to ensure efficiency, training and effectiveness of the auditing activities.
- Ensure the internal audit unit collectively possesses or obtains the knowledge, skills, and other competencies needed to meet the requirements of the internal audit charter.
- Ensure trends and emerging issues that could impact BSJ are considered and communicated to senior management and the Audit Committee/Board as appropriate.
- Ensure emerging trends and successful practices in internal auditing are considered.
- Establish and ensure adherence to policies and procedures designed to guide the internal audit unit.
- Review internal audit policies and procedures.
- Recommending changes to policies or procedures, as needed, to prevent future issues.
- Ensure adherence to BSJ’s relevant policies and procedures, unless such policies and procedures conflict with the internal audit charter. Any such conflicts will be resolved or otherwise communicated to senior management and the Audit Committee/Board.
- Ensure conformance of the internal audit unit with the International Professional Practices Framework (IPPF) Standards.
- Evaluating the effectiveness of internal controls and risk management processes to ensure that risks are mitigated.
- Reporting to the audit committee/board of directors on any breaches in ethics or legal violations identified in an audit.
- Reviewing financial statements and other reports to identify potential problems or errors.
- Providing information and support to other divisions/branches within the organization regarding audit procedures and findings.
- The chief audit executive must develop, implement and maintain the quality
- assurance and improvement program (QAIP) and ensure periodic evaluation and updates of same.
- Communicate to senior management and the Audit Committee/Board on the internal audit’s quality assurance and improvement program, including results of internal assessments (both ongoing and periodic) and external assessments conducted at least once every five years by a qualified, independent assessor or assessment team from outside BSJ.
- Review and monitor the unit’s budget.
- Conducting exit interviews with departing employees to identify potential risks and issues related to job function or company culture.
- Provide consulting services to management by giving informal or formal advice, analysis or assessments.
- Undertake special assignments/investigations/audits as requested by the Standards Council and management and internal and external parties.
- Revision and approval of all internal audit documentations.
The chief audit executive will report periodically to the senior management and the Audit Committee/Board regarding:
- The internal audit unit’s purpose, authority and responsibility.
- The internal audit’s plan and performance relative to its plan.
- The internal audit unit’s conformance with The IIA’s Code of Ethics and Standards and action plans to address any significant conformance issues.
- Significant risk exposures and control issues, including fraud risks, governance issues, and other matters requiring the attention of, or requested by, the Audit Committee/Board.
- Results of audit engagements or other activities.
- Resource requirements.
- Any response to risk that might be unacceptable to BSJ.
The chief audit executive also is responsible for coordinating activities, where possible, and considers relying upon the work of other internal and external assurance and consulting service providers as needed.
- Reports job completion and contract termination
- Advise, support and assist employees on all aspects of the procurement processes and procedures
- Advise on the reliability and performance of suppliers Participate in Quality Management Systems (QEMS) audits
- Maintain QEMS documentation such as Quality Plans and Risk Registers
- Prepare reports and provide data analysis for annual Management Reviews
- Participate in hiring, monitoring, performance evaluation and staff development of reports.
- Adequate furniture, equipment and other physical resources and office supplies, and outsourced services required for the execution of the BSJ's, NCBJ’s and NCRA’s responsibilities, procured
- Tender documents and procurement reports
- Purchasing records maintained
- Inventory records maintained
- Supplier listing maintained
- Reports (including progress) prepared and submitted
- Develops Unit plans and budgets to facilitate and support decision-making
- Prepares monthly and special reports on areas of responsibility
- Prepares reports on purchases of goods and services to be submitted to the Ministry of Finance, funding agencies and other relevant parties
- Recommends, institutes and maintains adequate purchasing and inventory control policies, procedures and levels to ensure proper and timely recording and reporting of the physical flows of all materials, equipment, supplies and services
- Monitors all procurement activities, identifies bottlenecks /problems and recommends strategies for increased efficiency and effectiveness
- Maintains systems and procedures for the accurate classification and coding of goods and services
- Continuously evaluates and maintains lists of qualified suppliers in keeping with the approved list from the Public Procurement Commission
- Promotes the building of institutional knowledge by ensuring that established systems and procedures are documented and disseminated
- Anticipates acquisitions and advice on priorities and allocation of resources
- Provides expert advice, briefings and support to the Head of Public Procurement and Senior Public Procurement Officer on matters pertaining to Procurement
- Facilitates the placement of advertisements as required, inviting bids, proposals, quotations or applications through the desired media, so as to ensure a reasonable opportunity to respond by all interested parties
- Prepares tender/bid documents including Requests for Proposals (RFP) and Requests for Quotation (RFQ) to effect procurement
- Organizes bidders' conferences and public bid openings where applicable
- Coordinates the evaluation of tenders and guides recommendations through approval
- Participates in the negotiation of purchasing agreements, credit arrangements and service
- Prepares and places orders and follows through on the delivery of goods and services
- Monitors re-order levels and coordinates stocktaking at appropriate intervals
- Prepares and monitors corporate contracts to ensure adherence to the requisite terms and conditions
- Ensure that terms and conditions of contract are met prior to submission of accounts
- Liaise with the Accountant to ensure timely processing of invoices
- Liaises with suppliers and assists in resolving discrepancies on a timely basis
- Prepares procurement reports and submissions to the Procurement Committee, Public Procurement Commission and Cabinet for approval as required
- Prepares and submits monthly, quarterly and annual procurement reports to the relevant authorities
Human Resource:
- Fosters teamwork and a harmonious procurement environment and promotes collaborative working across units
- Ensures that internal procurement training and other development needs of employees are adequately identified and addressed
- Recommends disciplinary action in keeping with established human resource policies
- Ensures that staff are provided with adequate and appropriate physical resources to enable them to undertake their duties efficiently and effectively
- Attend to suppliers’ queries regarding outstanding Withholding Tax Certificates and invoices
- Prepare minutes of the Internal Procurement Committee meetings and maintain proper files
- Assist with the review and dispatch/upload of Standard Bidding Documents onto the Ministry of Finance’s e-procurement system
- Download and collate bids at bid closing date for submission to the Evaluation Committee
- Update the Ministry of Finance’s e-procurement system at each stage of procurement
- Maintain a track record of each procurement from the start to completion
- Respond to suppliers seeking clarifications on procurement
- Notify successful/unsuccessful bidders of the outcome of the procurement
- Follow-up monthly with Directors/Managers regarding status of items already procured for input in the Procurement Status Report
- Follow-up on a quarterly basis with Directors/Managers regarding items to be procured based on the approved Procurement Plan
- Submit Arrival Notices and related shipping documents to the Custom Broker and follow-up with the timely clearing of items at the Port
- Prepare request for payment for custom duties, freight charges, etc.
- Provide support in the absence of the Public Procurement Administrator or as required
- Adhere to Quality Environment Management System (QEMS) requirements
- Any other duties requested by the Supervisor
Unusual requirements/working conditions:
- May be required to work overtime from time to time.
- Travel is an essential part of the job.
Minimum Educational Requirements:
- Professional qualification(s), particularly as: Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Global Professional Accountant (CGPA).
- A Post Graduate Degree in Business Administration or Accounting
- Any other internal audit certification and/or certificate.
- Membership in the Institute of Internal Auditors (Local Chapter) or any Professional Audit Association would be an asset.
- ISO Certification & Accreditation 9001/14001/17025
Experience:
- At least eight years of experience in financial, operational and/or compliance auditing (three at a supervisory/management level).
- Prior experience in internal/external auditing, operations, accounting or business analysis would be an asset.
Knowledge, Skills and Abilities:
- Comprehensive knowledge of and skill in applying internal auditing and accounting principles, practices, systems and techniques.
- Comprehensive knowledge of the international Accounting Standards IAS, International Financial Reporting Standards (IFRS) and International Auditing Standards (IAS)
- Knowledge of the FAA, Public Bodies Management and Accountability Acts (PBMA).
- Sound knowledge of Government Procurement Policy and other regulations.
- Computer skills, including word processing, spreadsheet, systems documentation, audit packages.
- Knowledge of International Professional Practices Framework (IPPF) and Quality Management System
- Sound knowledge of Government Procurement Guidelines and Public Bodies Management and Accountability Act (PBMA)
- Strong analytical, planning, organizing, negotiating, decision-making and problem solving skills, and drawing logical conclusions.
- Excellent time management, team building, leadership and motivational skills
- Ability to pay attention to detail.
- Skill in effective verbal and written communications, including skill in presenting findings and recommendations for improvement.
- Ability to prepare audit reports.
- Ability to establish and maintain harmonious team-oriented working relationships with co-workers and external personnel and work effectively in a professional team environment whilst maintaining independence and objectivity.
- Leadership Skills and People Management.
- Interpersonal skills.
- Strategic Vision
- Microsoft suite (Excel, PowerPoint, Microsoft Word)
- Sound knowledge of computerized accounting and auditing record keeping systems
- Work with minimal supervision from the Audit Sub-Committee of the Board
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