Director - Internal Audit

Job Description

Assists in directing the internal audit activity and responsible for all aspects of conducting risk assessments, planning & managing the audit team. Responsible to formulate, develop and execute internal audits in accordance with acceptable audit standards. Maintain effective working relation with the executives and operating management. Perform special reviews at the request of the Management.

Responsibilities

Managerial Responsibilities

• Provide direction and manage Group Internal Audit staff in performing their delegated tasks.
• Ensure that all Internal Audit staff acquire required skillsets, knowledge and certifications through appropriate training and professional development.
• Direct, counsel and coach audit staff, and review their work for adequacy of scope; leading the audit teams to optimal performance.
• Encourage good communication among all levels of staff.
• Monitor progress of projects through project status meetings or otherwise.

Organizational Responsibilities

• Contribute to the development and achievement of the department's objectives.
• Provide inputs towards the development of the department's policies and procedures and ensure its implementation.
• Assist in developing Group Internal Audit budget and resource requirements.
• Assist in preparing quarterly and annual reports on the department's progress / performance to Audit Committee
• Assist Chief Internal Audit Officer to report findings, recommendations, and management response to Audit Committee.

Internal Audit Responsibilities

• Meet with Senior Management to understand company's risks and develop a Risk Based Internal Audit plan.
• Conduct risk assessments and assess the effectiveness of all levels of management in their stewardship of company resources and their compliance with established policies and procedures.
• Develop and execute a comprehensive audit coverage for the evaluation of the management controls over activities under review.
• Recommend improvement of management controls designed to safeguard company resources and ensure compliance with relevant laws and regulations.
• Appraise the adequacy of action taken by operating management to correct reported deficient conditions.
• Conduct assignments / special examinations including the review of representations made by persons outside the Group.
• Develop and maintain auditee, staff, management and Audit Committee relationships through individual contacts and group meetings.
• Plan and manage outsourced audits / engagements.
• Undertake training needs analysis to determine training requirements and accordingly encourage opportunities for professional & personal development and sharing of knowledge & experience for Internal Audit resources.
• Pursue professional development opportunities, including external and internal training and professional association memberships, and share information gained with Internal Audit staff.
• Ensure independent internal quality review in line with the IIA standards.
• Facilitate External Quality Assessment.
• Coordinate audit efforts with the Group's external auditors.
• Coordinate with Risk and Compliance functions for audit planning.
• Perform any other duties assigned by Chief Internal Audit Officer.

Qualifications

• Bachelor's degree in Accounting / Finance / Business Management
• Relevant professional qualification (CA/CPA/ACCA/CIA); CISA preferred
• Knowledge of Internal Audit practices. Considerable knowledge of the Standards for the Professional Practice of Internal Auditing and the Code of Ethics developed by the Institute of Internal Auditors
• Total post qualification work experience of 18 - 20 years, minimum 12 years post qualification Internal Audit experience with at least 8 years in a managerial role.

About Us

Dubai Investments is a publicly listed UAE based multi-asset investment Group, managing a diverse portfolio of businesses, generating sustainable financial returns to its shareholders. Established in 1995, Dubai Investments is one of the leading investments Group in the UAE, initiating new businesses and partnering with dynamic entities, creating strategic investment opportunities across the region. The Group applies insight and experience to organically expand and be a reliable growth driver for businesses within sectors like real estate, building materials, construction & contracting, financial services, healthcare and education among others.