Internal Audit Manager

KEY OUTPUTS:

• Internal Control Enhancement Reports – Issued reports providing recommendations for strengthening internal controls and mitigating risks. 
• Audit Reports – Comprehensive reports with findings, risks, recommendations, and management responses, submitted to Divisional Heads, the Divisional Director, and the Audit Committee.
• Annual Risk-Based Audit Plan – Approved and documented plan addressing high-risk areas, updated periodically to reflect emerging risks. 
• Exception Reports – Reports highlighting significant internal control weaknesses and non-compliance issues, submitted to senior management and the Audit Committee. 
• Updated Internal Audit Charter – Periodically revised and formally approved by the Audit Committee to ensure alignment with internal audit best practices and governance standards.
• Staff Performance Appraisals – Completed evaluations of internal audit team members, with documented assessments and performance improvement plans. 
• Departmental Budget Reports – Reports on budget utilization and financial performance, ensuring cost-effective operations within the Internal Audit Department. 
• Consulting & Advisory Reports – Reports or recommendations provided to management on internal controls, governance, and risk management upon request, ensuring compliance with audit independence requirements 
• Structured Audit Programs - Well-structured audit programs that align with the International Professional Standards for Internal Auditing, established audit practices and guidelines, and appropriate audit methodology. These programs should define clear objectives, ensure comprehensive coverage, and adhere to best practices. Additionally, audit reports should accurately reflect compliance with these standards and methodologies, providing clear, objective, and well-documented findings. 
• Competent Workforce - A well-developed and competent internal audit workforce, demonstrated through enhanced skills, completed training programs and performance improvements Audit Practices-Up-to-date audit practices that align with the latest regulatory requirements, company policies, procedures, and internal auditing standards. 
• Audit Techniques - Enhanced internal audit efficiency and risk detection through the use of advanced technology, data analytics, and automation tools. 
• Quality Assurance - A robust Quality Assurance and Improvement Program (QAIP) that enhances the internal audit function and ensures compliance with professional internal auditing standards (IIA Standard 1300) 
• Independence - An independent and objective internal audit function that operates free from conflicts of interest and upholds professional skepticism, ensuring compliance with IIA Standard 1100 

KEY RESPONSIBILITY AREAS:

• Develops and executes a dynamic, risk-based audit plan, approved annually by the Audit Committee, ensuring alignment with the organization’s risk profile and strategic objectives. Audit Planning
• Develops Audit Programs that align with the International Professional Standards for Internal Auditing, established audit practices and guidelines, and appropriate audit methodology. These programs should define clear objectives, ensure comprehensive coverage, and adhere to best practices.
• Examine and evaluate the adequacy and effectiveness of the organization’s systems of internal control and quality of performance in carrying out assigned responsibilities. 
• Assess and report on the effectiveness of management systems. 
• Assess the financial and commercial processes to detect control deficiencies and weaknesses; develop appropriate recommendations and action plans for remediation. 
• Ensures that all audits are planned, executed, and documented in accordance with the IPPF, including the collection of sufficient, reliable, and relevant audit evidence to support audit conclusions. Audit Execution and Assurance 
• Prepares clear, concise, and timely audit reports, outlining audit objectives, scope, findings, recommendations, and management’s responses, in compliance with IIA Standard 2410.-Reporting & Follow-up 
• Perform follow-up reviews and produce reports accordingly. 
• Ensure that adequate audit steps are undertaken to verify the completeness, accuracy, ownership and valuation, as appropriate, of a transaction cycle. 
• Prudently manage the Division’s approved budget . 
• Monitor Staff performance, punctuality and tardiness 
• Maintain confidentiality of all information arising out of internal audit activities and all matters within the Department 
• Identify training and development needs for Internal Audit staff and implement structured training programs to enhance competencies, ensure adherence to professional standards, and support career growth. Oversee continuous professional development initiatives, including technical training, certifications, and knowledge-sharing sessions, to maintain a high level of audit proficiency and effectiveness. 
• Maintain confidentiality of all information arising out of internal audit activities and all matters within the division. 
• Provide advisory services where needed in the company. 
• Ensures independence and objectivity in all audit activities, avoiding conflicts of interest and maintaining professional skepticism in line with IIA Standard 1100 
• Develops and maintains a Quality Assurance and Improvement Program (QAIP) to ensure continuous enhancement of the internal audit function and compliance with professional internal auditing standards (IIA Standard 1300). 
• Collaborates with external auditors and regulatory bodies to optimize audit coverage, enhance assurance services, and minimize duplication of audit efforts, ensuring alignment with IIA Standard 2050
• Ensuring that you keep updated with regulatory changes, relevant policies and procedures and standards used by the company and internal auditing. 
• Stay updated on regulatory changes, company policies, procedures, and internal auditing standards, ensuring audit practices remain compliant and aligned with best practices. 
• Leverage technology and data analytics to enhance audit efficiency, accuracy, and risk identification, ensuring a more effective and data-driven internal audit function. 

Required Competencies

Core/Leadership

• Adaptability & Managing Change
  • Helps others adapt to a changing work environment and to embrace change 
  • Promotes the benefits of a proposed change 
  • Takes time to question; understand and speak to the underlying needs of stakeholders beyond those initially expressed. Makes/recommends changes to work processes or systems to improve business results. 
  • Develops plans and prioritizes resources to effectively implement change 
  • Remains focused on the desired outcome to help self and others implement change.
• Applying Learning
  • Helps others adapt to a changing work environment and to embrace change 
  • Promotes the benefits of a proposed change 
  • Takes time to question; understand and speak to the underlying needs of stakeholders beyond those initially expressed. Makes/recommends changes to work processes or systems to improve business results. 
  • Develops plans and prioritizes resources to effectively implement change 
  • Remains focused on the desired outcome to help self and others implement change.
• Communication
  • Tailors the content of speech and written communication to suit the level, cultural background and experience of the audience. Establishes communication plans and strategies. 
  • Anticipates and prepares for others reactions, adapting tactics to create a specific impact. 
  • Communicates complex issues clearly and credibly with widely varied audiences.
• Creativity & Innovation
  • Looks ahead and can spot opportunities/obstacles and to develop new approaches, products and services to meet organizational needs.
  • Encourages others to challenge traditional approaches.
  • Asks thought provoking questions to spark others creativity.
  • Support and work with others to produce innovative solutions.
• Business & Stakeholders Focus
  • Takes time to understand the real underlying needs beyond those expressed. 
  • Focus resources on priority areas and /or key stakeholder groups. Always work closely with customers/stakeholders, developing an independent view of their needs and acting in their long term interest. 
  • Monitor stakeholder satisfaction and recommends changes to work processes to improve results and service. Understands business risks and stakeholder needs. Aligns audit activities with corporate objectives and regulatory expectations.

• Decision Making 

  • Makes complex decisions for which there are no set procedures. Develops innovative solutions that address the root cause of the problem and prevent recurrence. 
  • Aligns decisions with organizational goals, direction, ethics and values. 
  • Anticipates obstacles and thinks ahead about steps. 
  • Makes sound business decisions when faced with complex and contradictory alternatives 
  • Defines, communicates and consistently exemplifies the organization’s values and ethics

• Financial Acumen & Budgeting

  • Understands the current costs of work processes and programs. Balances cost versus benefit in taking action or making cost related decisions. 
  • Prepares accurate cost estimates and schedules. 
  • Monitors the budget, tracks costs and revenue, where appropriate. Takes corrective action as required. 
  • Monitors to ensure the efficient and appropriate use of resources. Continuously looks for methods to improve operational efficiencies Ensures cost-effective audit operations. Monitors financial impact, manages budgets, and balances cost versus benefits in audit recommendations.
• Process Improvement & Audit Quality Assurance
  • Can identify when Process Improvement methodology should be used to improve a situation 
  • Can assemble a process improvement team and deploy basic team forming activities 
  • Can provide leadership in applying PI methodology 
  • Often holds the role of ‘PI Team Leads’ and has proven results in moving the project through to successful completion Leads initiatives for continuous process improvement. Applies quality assurance practices and fosters a culture of efficiency and effectiveness in audit execution.
• Results Oriented
  • Tackles difficult problems and takes personal responsibility for reaching solutions. 
  • Sees obstacles as challenges and develops innovative strategies to overcome them. 
  • Strives for continuous improvement and creative solutions. Sets challenging goals and objectives and measures performance against these. 
  • Demonstrates the ability to use corporate resources and expertise to achieve desired results.
• Operational Risk & Safety Awareness
  • Proactively thinks about his/her safety and the safety of others. Keeps personal and group safety on employees’ minds at all times. Adheres to high standards of safety. 
  • Reports and / corrects unsafe work conditions. 
  • Acts to correct unsafe work habits.
• Teamwork
  • Encourage and empower others making them feel accountable and engaged. 
  • Creates new opportunities for individuals to work together, breaking down barriers when necessary. 
  • Is a model of cooperative behavior and hold team members accountable. 
  • Actively promotes diversity through visible actions and initiatives 
  • Manages and balances personal goals with the goals and direction of the Corporation
• Leading & Developing others
  • Sets a strong example through own behavior. 
  • Inspires and empowers others to overcome difficulties and achieve. Provides challenging assignments and specific opportunities to broaden employees’ skills and experiences. 
  • Encourages and acts upon feedback to self. 
  • Provides guidance, counsel, direction, and assistance to employees.

Technical/Functional Competencies

Organizational & Leadership Competencies

• High level of organizational and administrative skills - Include strategic planning and resource management – Manages multiple audits, timelines, and resources efficiently, ensuring alignment with strategic objectives. Incorporates governance, risk, and compliance (GRC) expertise into audit planning.
• Ability to work independently - Includes leading independent audits – Ensuring autonomy in decision-making and accountability in audit execution, including fraud risk assessments and investigative auditing where necessary.

Critical Thinking & Risk-Based Analysis & Technology

• Brilliant judgment and analytical skills - Includes advanced risk assessment – Evaluates business risks, operational impact, and control effectiveness, incorporating forensic auditing where necessary. Use data analytics tools ( IDEA, Power BI) for enhanced decision-making.
• High level of proficiency in problem-solving related to increased operating efficiency, Technology and Data Analytics in Auditing - Includes process improvements- Leverages audit insights and technology-driven solutions (AI, automation) to drive operational efficiency and recommend enhancements. Uses advanced data analytics (ACL, IDEA, Power BI) and cybersecurity risk assessment tools (COBIT, ISO 27001) to enhance internal audit effectiveness.

Ethical Standards & Interpersonal Competencies

• Excellent interpersonal skills - Includes stakeholder engagement – Ability to build strong relationships with senior management, the Audit Committee, and external auditors, ensuring effective communication of audit findings and governance issues.
• High degree of integrity and confidentiality - Aligns with IIA’s Code of Ethics and ensures confidentiality in fraud investigations and regulatory compliance.

Financial & Regulatory Expertise, Governance, & Emerging Risk Areas

• Knowledge of IFRS, Financial and Tax Regulation including NIS, PAYE, and VAT, company’s regulations, standards and policies and internal auditing standards - Includes financial regulatory compliance – Ensures alignment with international financial reporting standards (IFRS), tax laws, and internal financial controls. Knowledge of company’s regulations, standards, policies and internal auditing standards, practices and guidelines
• Excellent knowledge of Governance, Risk, and Compliance (GRC) Expertise -  Corporate governance frameworks, risk-based audit planning, regulatory compliance, and fraud prevention strategies.

REQUIRED EDUCATION AND EXPERIENCE

• CIA and/or Completion of at least ACCA Level 2 or other relevant professional qualifications, plus at least seven (7) years of experience in a similar role. 

Additional professional and academic qualifications considered an asset, including: 

• Chartered Professional Accountant (CPA). 
• Master’s Degree in Accounting or Business Administration from University of Guyana or a recognised University.