Role Description
This is a full-time, on-site role for a Chief Internal Auditor located in Lipa. The Chief Internal Auditor will be responsible for overseeing the organization's internal audit processes, ensuring compliance with regulations, and identifying areas for risk management and process improvements. Core responsibilities include preparing detailed audit reports, conducting financial audits, analyzing business operations, and providing guidance on compliance and best financial practices. Collaboration with team members and clear communication with leadership will be vital for this role.
KEY RESPONSIBILITIES
Internal Audit Strategy and Leadership
- Develop and implement a risk-based internal audit plan aligned with the bank's objectives, regulatory requirements, and best practices.
- Ensure the independence and objectivity of the internal audit function while maintaining direct accountability to the Audit Committee.
- Provide leadership to the Internal Audit Office, ensuring the team's skills and expertise align with the growing complexity of banking operations.
- Promote a strong risk management and internal control culture across the bank.
Audit Execution and Risk Assessment
- Examine, evaluate, and improve the effectiveness of the bank's internal controls, risk management, and governance systems.
- Conduct operational, financial, compliance, and IT audits to assess risk exposure and ensure adherence to regulatory requirements.
- Perform credit quality reviews, assessing the bank's credit portfolio, risk assets, and compliance with banking laws, regulations, and internal policies to minimize credit losses.
- Assess and complement operational risk management, compliance, and other control functions.
Compliance with Regulatory Standards and Industry Best Practices
- Ensure the internal audit function adheres to the Institute of Internal Auditors International Standards for the Professional Practice of Internal Auditing (ISPPIA), Global Internal Audit Standards and other relevant regulatory requirements.
- Develop an operational audit plan based on robust risk assessment and obtain Audit Committee approval.
- Monitor the implementation of the approved audit plan, reporting any necessary revisions or significant changes to the Audit Committee.
Reporting and Communication
- Submit periodic reports to the Board through the Audit Committee on audit findings, risk assessments, and the status of corrective actions implemented by concerned business units.
- Provide recommendations to senior management and the Board to enhance internal controls, governance, and risk mitigation strategies.
- Act as the Secretary of the Audit Committee, ensuring proper documentation and communication of audit-related matters.
Resource and Budget Management
- Assess and monitor the skills and qualifications of the internal audit team and ensure an adequate training and development program is in place.
- Propose and oversee the division's budget, ensuring compliance with the bank's policies and efficient use of resources.
Qualifications
- Proficiency in preparing and presenting Audit Reports
- Strong Analytical Skills and the ability to evaluate financial and operational data
- In-depth knowledge of Finance and Financial Audits
- Excellent Communication skills, with the ability to convey findings and recommendations clearly
- Experience in banking, financial institutions, or related fields is an advantage
- Bachelor's degree in Accounting, Finance, or a related field; CPA designation is a plus
- Strong understanding of regulatory compliance standards
- Proven leadership and decision-making skills
