Internal Audit Manager Date produced: March 2015 Produced by: Julian Bill Date last reviewed: March 2015 Reviewed by: 18/03/15 Date evaluated: HR only Evaluated by: Tanya Johnson & Jenny Buck Band and Range: B3 Salary Scale: PBS Job reference: TBC The Role Department Team/Sub department Reports To Role Purpose Group Internal Audit Chief Internal Auditor Working as a member of the Group Internal Audit team to perform audit and other reviews that give assurance to the Board that the arrangements in place to manage risks to the Group s assets, and to its customers, are adequate and appropriate. Responsibilities People Manager? Number of Direct Reports Number of Indirect Reports None Budget Control / Responsibilities No If yes, please give details Regulated Role No Approved Person No If yes, please state CF number: Key Accountabilities, Responsibilities and Deliverables Manage the performance of a portfolio of audits and other assignments as agreed with the Chief Internal Auditor. With respect to individual audit assignments, either perform as the lead auditor, or oversee the effective performance of the lead auditor in: Supervision, oversight and support of internal and 3rd party team members. Scheduling planned audits and coordinating planning for specific audits.
Planning audits in advance to ensure that the auditee has a clear understanding of the purpose and scope of work, properly skilled and knowledgeable resources are allocated, auditors are briefed and adequate time is allowed for all stages of the audit Lead opening meetings with management, providing a clear briefing on the scope of audit work. Manage delivery of audit work program, providing oversight of assigned team and conducting audit testing. Proactively engage with management during the course of the audit keeping them informed of progress and any potential issues. Ensure factual accuracy of all issues supported by appropriate evidence and documents, produced to the required quality Lead closing meetings with management to discuss key issues arising. Prepare and present to management audit reports which clearly and succinctly articulate the salient findings and recommendations from the audit assignment. Manage and perform quality assurance reviews on work managed by other team members. Proactively monitor the effective resolution of audit points by management for all audits performed within assigned business area. Act as a business partner for an assigned business area, up to executive level. Successfully manage and cultivate key relationships to ensure that Internal Audit s scope of work and the objectives of the Society are completed in a cost-effective and timely manner. Attend committees and other fora representing Internal Audit and deputising for the Chief Internal Auditor, including communicating the outcome of audit and other assignments Assist in development of audit staff, including recruitment, performance appraisal for individual assignments, coaching and mentoring and inputting to the PDP of team members. Assist in the development and application of Internal Audit best practice and maintaining good governance within the department. Manage the Audit Universe and Assurance map for the assigned business area, performing internal and external research to maintain a good level of knowledge, identifying factors affecting ratings and prioritisation, agreeing these with the Chief Internal Auditor CIA and using these tools to inform audit and assurance planning. Maintain an awareness of the Society s policies and procedures and adhere to them. Promote and embrace a culture of continuous improvement being open and proactive to improvements and carrying out improvements in line with the corporate methodology. Demonstrate the Society s values and appropriate behaviours. Any other reasonable management request. Comment [LD1]: This still reads as though they are line managing a team perhaps replace performance appraisal with review of individual assignments. Would they be required to input into PDP for team members or would this be the line mgr`s responsibility?
Core Requirements Conduct Risk / Governance Remain appraised of the external legal and regulatory environment. Understand the appropriate Policies & Standards applicable to your role through reading the Code of Conduct/Conduct Strategy and other training Take account of conduct risks and controls in audit work performed Ensure your own values and behaviours reflect the principles required to ensure the fair treatment of the Group s customers and that you encourage and drive a customer focused culture within your team. Take action should team members not adhere to the principles relevant to your area or you/they identify any practice which is counter to the principle of achieving fair outcomes for customers. Through performance of audits and related work seek to improve compliance and risk management. Measures of Success Performance Measures - The What Group Internal Audit working practices and policies are observed. Clear evidence of effective planning and preparation in order to achieve agreed deliverables and deadlines. Work is delivered within agreed service levels, timings and resource allocations, with the expectations of the Chief Internal Auditor, team members and other key stakeholders managed effectively. Good teamwork is demonstrated, including interaction with 3 rd party team members, adapting and communicating effectively to ensure collective goals are achieved. Communication with auditees and senior management is effective and efficient at each stage of the audit, from planning, through fieldwork to exit and reporting such that issues are promptly and accurately identified and findings are articulated back to the auditee with little or no further clarification, repeat or escalation being necessary. The key risk, control and other issues are accurately identified based on the audit testing performed, and any recommendations are appropriate, are supported by those findings, reflect management s risk appetite and are accepted by the business and responsible executive without material changes being necessary. Quality Assurance is undertaken diligently for work performed by other areas of the function, such that agreed standards and coverage are achieved and constructive feedback is provided to allow issues to be addressed on a timely basis. Progress on audit recommendations is monitored to ensure agreed actions are undertaken and risks appropriately mitigated in accordance with completion dates. In providing an effective business partnering service to assigned areas of the Group, ensure emerging risks, issues, control failings and other assurance needs are identified promptly
(through internal discussions, external research, peer-group etc..), and that good systems of control are promoted. Maintain an effective relationship with the co-source provider, such that emerging issues are identified promptly, and that work on specific assignments meets all requirements. The Audit Universe and Assurance map is managed such that no material, foreseeable changes are required to the agreed audit plan. Written work is of a very good quality, such that no changes are generally required to meet standards expected by the Board and other key stakeholders. Projects, other assignments and tasks are completed within agreed timings and to a good standard. Feedback received from auditees and other key stakeholders is positive. Behaviours - The How We re proud to be at the heart of our communities Members and colleagues trust us to fulfil our promises We challenge ourselves to always perform better We work together to build value for our members Act as ambassadors for the business and community Demonstrate a professional approach when interacting with each other and with members of the public Acting with integrity and independence Observing confidentiality Building a network of relationships based on trust and respect Being open and honest when asked about ideas and opinions Deliver on commitments Managing expectations Being clear about processes and procedures Acting with consistency and diligence Challenging current practice to improve the customer experience, risk and control environment Proactively manages self-development so as to demonstrate expertise and relevant knowledge Being able to explain how their individual role contributes to business success Proactively providing open and honest feedback to others Showing a willingness to adapt in order for the business to succeed Talking passionately about the business and what they do Understanding what will contribute to business success Displaying energy and enthusiasm in all aspects of the role Measuring the benefits of their work and celebrating success Proactively managing the agenda of their 121s and always being prepared Showing a genuine interest and inquisitive nature with respect to the business processes and the risk and control environment Strong written and verbal communication skills and the confidence to work with colleagues at all levels Doing what it takes to exceed the expectations of the internal and external customer Works across departmental boundaries for the greater good Openly offering help to others to help them achieve their goals Sharing successful ideas across the organisation Allowing for difference
Knowledge, Skills and Experience Required Essential CCAB (Chartered Accountant) or CIIA (Chartered Auditor) qualification, or equivalent with extensive post qualification experience. Excellent communication and interpersonal skills. Experience in leading internal or external audits and controlling the work of colleagues and third party providers. A good understanding of risk management and business processes/controls. Knowledge and practical experience of developing and applying Audit best practice, ideally within Internal Audit. Desirable Experience of working within Financial Services and a good level of knowledge in one or more relevant specialisms. Educated to degree level, preferably in accounting, business or a related field. Additional Information The role-holder will be required to perform audits where a good level of technical expertise or knowledge is required. To support this and to supplement the role-holder s core skills, appropriate development activities will be available. The assignments performed by Group Internal Audit vary in size and complexity and whilst some will involve supervising a team, on some the role holder may be required to work unassisted.