Head of Audit

The Head of Audit is responsible for overseeing the internal audit function within the bank, ensuring the effectiveness of the bank's internal controls, risk management, and governance processes. This role involves leading the audit team, developing audit strategies, and providing independent assurance to the bank’s senior management and audit committee.Key Responsibilities:Strategic Leadership:Develop and implement a comprehensive internal audit strategy aligned with the bank’s overall objectives.Establish the annual audit plan based on risk assessment and ensure its timely execution.Advise senior management and the board on audit-related matters, providing insights on emerging risks.Audit Management:Oversee the planning, execution, and reporting of audits, ensuring quality standards are met.Review audit findings and ensure the development of actionable recommendations to improve controls.Monitor the implementation of audit recommendations and follow up on corrective actions.Risk Assessment and Control:Identify and assess key risk areas within the bank and develop targeted audit strategies.Evaluate the adequacy and effectiveness of the bank’s internal controls and risk management processes.Conduct special audits and investigations as needed, including fraud investigations.Team Leadership:Lead, mentor, and develop the internal audit team, fostering a culture of integrity, accountability, and continuous improvement.Conduct performance evaluations, provide feedback, and support the professional growth of team members.Ensure the audit team maintains up-to-date knowledge of relevant regulations, industry standards, and best practices.Stakeholder Engagement:Communicate effectively with senior management, the audit committee, regulators, and external auditors.Present audit findings and insights in clear, concise reports, highlighting significant risks and recommended actions.Build strong relationships with stakeholders to enhance the audit function’s influence and impact.Compliance and Governance:Ensure that the internal audit activities comply with internal policies, regulatory requirements, and professional standards.Support the bank’s governance framework by providing assurance on compliance with laws and regulations.Maintain independence and objectivity in all audit activities.Continuous Improvement:Promote best practices in auditing and drive the continuous improvement of audit processes and methodologies.Utilize data analytics and technology to enhance audit effectiveness and efficiency.Stay updated on industry trends, regulatory changes, and emerging risks to adapt audit approaches accordingly.Qualifications and Experience:Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; a Master’s degree is preferred.Professional certification such as Certified Internal Auditor (CIA), Chartered Accountant (CA), or Certified Public Accountant (CPA).Minimum of 10 years of experience in internal audit, risk management, or related fields within the banking or financial services industry.Proven experience in a senior audit role, with a strong understanding of banking regulations, risk management, and internal controls.Skills and Competencies:Strong analytical and problem-solving skills with the ability to identify risks and recommend solutions.Excellent leadership and team management abilities, with experience in mentoring and developing staff.Outstanding communication and presentation skills, capable of engaging effectively with senior stakeholders.High level of integrity, independence, and commitment to ethical standards.Proficiency in audit tools, data analytics, and familiarity with regulatory requirements affecting the banking sector.Working Conditions:Primarily office-based, with occasional travel to branches or other locations as required.Must be able to work under pressure and handle multiple priorities effectively.