To demonstrate appropriate leadership and have the necessary skills to fulfill his responsibilities for maintaining the unit's independence and objectivity;
To be accountable to the board of directors or audit committee on all matters related to the performance of its mandate as provided in the internal audit charter. The head of the internal audit function shall submit a report to the audit committee or board of directors on the status of accomplishments of the internal audit unit, including findings noted during the conduct of the internal audit as well as status of compliance of concerned departments/units.
To ensure that the internal audit function complies with sound internal auditing standards such as the Institute of Internal Auditors International Standards for the Professional Practice of Internal Auditing, as well as the IIA Global Internal Audit Standards, which took effect in January 2025, and other supplemental standards issued by regulatory authorities/government agencies, as well as with relevant code of ethics
To develop an audit plan based on robust risk assessment, including inputs from the board of directors, audit committee and senior management and ensure that such plan is comprehensive and adequately covers regulatory matters. The head of the internal audit function shall also ensure that the audit plan, including any revisions thereto, shall be approved by the audit committee
To ensure that the internal audit function has adequate human resources with sufficient qualifications and skills necessary to accomplish its mandate. In this regard, the head of the internal audit function shall periodically assess and monitor the skill-set of the internal audit function and ensure that there is an adequate development program for the internal audit staff that shall enable them to meet the growing technical complexity of banking operations.
Meet with the Non-Executive Directors of the bank at least once-a-year.
Prepare the internal audit function for an independent external quality assurance review of the IA function once every 5 years.
Support and provide information as required by the BSP Examiners of the bank.
Provide advisory services and special audit services, as necessary, without compromising the IA's independence and objectivity.
People Management
Lead and direct the Audit Division
Direct, manage, and supervise the Audit function
Develop training and mentoring programs for junior auditors
Others
Oversees the overall activities of the department such as, but not limited to, delegation of work and manpower for examination of Branch, Head Office Unit or IT systems/operations.
Attend training, seminars and workshops as considered necessary and to enhance his/her knowledge.
Perform other related duties as assigned by Top Management, Board of Directors or Audit Committee.
