The position is primarily responsible for overseeing and managing the audit processes within the organization. The position shall oversee the independent appraisals for branch sales, evaluate business processes and assess the information security controls. The position is also responsible for executing internal audit policies, procedures, and programs to ensure compliance with regulatory requirements and industry standards.
Key Responsibilities
A. Policy Formulation and Implementation
- Formulates policies, practices, and procedures to ensure the effective and efficient flow of work within the Division.
- Reviews internal audit policies and procedures to ensure their relevance and improve internal controls.
- Provides feedback on policies set by the business units to identify and assess risks related to financial statements, operations, compliance, and in other areas.
- Stay updated on changes in regulations and standards that may impact auditing processes.
B. Audit Management
- Collaborates with senior management to develop an audit plan, including objectives, scope, and timelines.
- Directs the audit activities to meet specified objectives.
- Ensures the integrity, reliability and consistency of audit reports based on actual audit assessment.
- Assesses the operational, financial, compliance and reputational risks associated with internal and IT audit. Develops risk mitigating strategies and control recommendations.
- Monitors compliance of audit practices with regulatory requirements, industry standards, and internal policies.
- Reviews audit findings and recommendations. Presents resolution to BSP/PDIC findings to the management, audit committee, and stakeholders.
C. Risk Assessment and Reporting
- Assesses the operational management, risk management, compliance, and other control functions to protect the bank and its reputation.
- Presents quarterly and annual reports to Audit Committee/Board of Directors.
- Analyzes critical business processes, evaluates design and operational effectiveness of internal controls, and identifies potential process improvement opportunities.
- Implements best practices and benchmark against industry standards to enhance the audit process efficiency and effectiveness.
D. Management Leadership
- Finalizes plans, programs, budget and performance targets of the division.
- Plans, directs and coordinates all activities in the department to reach maximum level of employee productivity throughout the workforce.
- Provides upfront leadership in supervising all direct and indirect reports and planning for their career advancement and aspirations.
- Supervises and evaluates the performance of all direct reports.
- Approves/schedules all vacation leaves of all direct reports.
E. Others
- Supports Bangko Sentral ng Pilipinas (BSP) and Philippines Deposit Insurance Corporation (PDIC) during annual examination.
- Participates actively during staff meetings, training programs and other professional development work.
- Makes recommendations on matters pertinent to business operations and other related activities.
- Performs other related duties as assigned.
Qualifications
- Education: Graduate of B.S. Accountancy, preferably a CPA or with a master's degree or latin honors
- Preferred experience within the banking or financial institutions ; branch audit preferred
- One or more Audit Certifications required - CIA, CPA, CFSA, CRMA, CISA, CFE
- Experience: At least ten (10) years of work experience in performing audit and risk assessments, evaluating internal controls; preferably from banking or financial service industry
