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Internal Audit Manager - Quality Assurance

Employer
Finwhizz
Location
London, United Kingdom
Salary
Competitive
Closing date
Apr 9, 2023

View more

Job Function
Other
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Context for the role:

The Internal Audit Quality Assurance team provides independent assurance to the Group Chief Auditor (GCA) and the Chair of the Board Audit Committee that Internal Audit conforms with the requirements of relevant IA professional standards, existing Internal Audit policies, procedures and practice requirements in all material respects. Furthermore, Internal Audit continues to act in conformance with industry standards including the guidelines contained within the FS code for Internal Audit within the Financial Services Sector and as such remain aligned to mandated objectives and industry standards.

Purpose statements:
  • Working closely with the Chief Operating Officer (COO) for Internal Audit to design and implement enhancements to existing methodology in response to external and internal factors.
  • Regular reviews and refocusing of the Quality Assurance plan to ensure that current practices remain effective and assist in the identification of improvement opportunities within audit execution practices that can then be considered for inclusion in future internal audit methodology updates.
  • Shaping the effective development and integration of quality assurance work across the audit function and ensuring the robust and timely execution and delivery of key Quality Assurance products to ensure audit standards and requirements are met.
  • Constantly review key quality assurance KPIs and create regular Quality Assurance reporting cycles to track these metrics.
  • Performance and reporting of Internal Audit team effectiveness assessments.
  • Internal Audit methodology development, documentation and communication.
  • Identifying and agreeing topics for future audit and practice training, defining content requirements, scheduling, material creation and session rollout.
  • Liaise with the COO and Audit Committees as required to report on assurance work and the effectiveness and independence of the audit function.

Knowledge statements:
  • Extensive understanding of Internal Audit practice requirements and developments
  • Advanced understanding of quality and assurance processes and assessment tools.
  • Ability to build strong external networks to ensure practice knowledge remains current.
  • Extensive knowledge of the UK Financial Services sector, including regulatory, governance and risk management rules and regulations relevant to financial and non-financial risk.
  • Understanding of insurance and asset management products desirable.

Experience statements:
  • Financial services sectors experience, ideally with some insurance, asset management or IT experience.
  • Strong execution skills across a wide portfolio of assignments.
  • Experience of delivering work subject to tight deadlines
  • Experience of assessing, reacting quickly and decisively to problems once identified, taking tough decisions where needed.
  • Experience in delivering robust practical and efficient audit practice solutions.
  • Experience of influencing and negotiation at all levels of the organisation, strong awareness of when to escalate audit assurance issues upwards to the COO.
  • Experience of influencing others and building strong, constructive relationships.
  • Experience of working closely with senior management and Audit Committees to understand and deliver against expectations.

Personal attribute/skills:
  • Excellent communication skills both verbal and written.
  • High attention to detail.
  • Robust ability to anticipate and address delivery challenges and an aptitude for dealing with emerging issues in a timely and measured manner.
  • Respected team player with impact and gravitas within the team.
  • Ability to build strong relationships whilst maintaining independence.
  • Ability to influence and challenge audit management and colleagues in a positive manner.

Qualifications:
  • Recognised Audit, IIA or Accountancy qualification /experience.

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