Head Of Audit & Internal Control

JOB DESCRIPTION

Head of Audit and Internal Control - Digital Bank

COUNTRY – São Tomé

WORK TYPE – FULL TIME - PERMANENT

JOB TITLE:

Head of Audit and Internal Control - Digital Bank

JOB GRADE: 

WORKING ENVIRONMENT:

Office

LOCATION: São Tomé

REPORTS DIRECTLY TO:

CFO/ CEO

1. JOB PURPOSE:

We are seeking a highly skilled and experienced Head of Audit and Internal Control to join our growing digital bank in São Tomé. This senior leadership role is responsible for overseeing the bank’s internal audit and control processes, ensuring compliance with regulatory requirements, identifying risks, and fostering a culture of transparency and accountability across all functions. The Head of Audit and Internal Control will play a critical role in strengthening the internal control framework and contributing to the long-term success of the organization.

1. KEY RESPONSIBILITIES

• Technical/Operations duties

1. Internal Audit Leadership

• Lead, develop, and manage the internal audit function, ensuring audits are conducted in compliance with applicable standards and regulations.
• Develop and execute a comprehensive audit plan, assessing the effectiveness of internal controls, risk management, and governance processes.
• Conduct audits across all areas of the bank, including financial, operational, IT, and compliance audits.
• Evaluate the effectiveness and efficiency of internal controls and make recommendations for improvements.

1. Internal Control Framework

• Design, implement, and monitor the bank’s internal control environment to ensure proper checks and balances.
• Work with senior management to develop and enhance the bank’s risk management framework.
• Ensure compliance with regulatory standards and internal policies, identifying potential gaps or areas for improvement.

1. Risk Management

• Identify and assess risks within the bank’s operations, including financial, operational, technological, and compliance risks.
• Recommend and implement risk mitigation strategies to minimize exposure to potential threats.
• Collaborate with other departments to develop and maintain effective risk management practices.

1. Stakeholder Engagement

• Serve as the primary liaison with external auditors and regulatory bodies.
• Report regularly to senior management, the Audit Committee, and the Board of Directors on audit findings, internal control issues, and risk management initiatives.
• Provide guidance to senior leadership on emerging regulatory requirements and industry best practices.

1. Team Management and Development

• Lead and mentor the internal audit team, fostering a culture of continuous learning and professional growth.
• Set team goals and performance metrics, and provide regular feedback and performance evaluations.
• Ensure the team has the necessary tools and resources to perform audits efficiently and effectively.

1. Process Improvement and Technology Integration

• Identify opportunities for process improvements and the integration of technology to enhance the efficiency and effectiveness of audits.
• Stay up-to-date on emerging trends in audit technology and tools, including data analytics and automated auditing systems.
• Supervisory duties

1. Lead, manage, and develop the internal audit and control team, ensuring alignment with organizational goals and regulatory requirements.
2. Assign tasks and oversee the execution of audits across all areas of the bank, ensuring audits are completed timely and effectively.
3. Provide guidance, mentorship, and professional development opportunities for team members.
4. Set performance goals, conduct regular evaluations, and provide constructive feedback to team members.
5. Foster a culture of accountability, collaboration, and continuous improvement within the internal audit function.
6. Ensure that the internal audit team has the necessary resources, tools, and training to perform their tasks efficiently.
7. Oversee the allocation of audit responsibilities, ensuring the team is adequately staffed and equipped to manage workload and deadlines.
8. Review audit reports and ensure that findings are communicated effectively to senior management and the board.
9. General duties

      Any other duties assigned

1. KEY PERFORMANCE MEASURES
2. Audit Execution and Coverage

• Percentage of audits completed as per the annual audit plan.
• Timeliness of audit report submissions (measured against deadlines).
• Number of high-priority findings addressed and resolved within agreed timelines.

1. Internal Control Effectiveness

• Reduction in the number of significant internal control weaknesses identified over time.
• Improvement in audit follow-up and resolution rates for previously identified control issues.

1. Risk Management

• Number of critical risks identified and mitigated through proactive audits and internal control improvements.
• Effectiveness of risk mitigation strategies, measured by the reduction in risk exposure.

1. Team Performance and Development

• Achievement of team goals and performance targets (e.g., audit coverage, report quality).
• Professional development and training completion rates for the internal audit team.
• Employee engagement and retention within the audit function.

1. Stakeholder Engagement and Satisfaction

• Satisfaction of senior management and audit committee with the quality and relevance of audit findings and recommendations.
• Feedback from external auditors and regulatory bodies regarding audit processes and compliance.

1. Compliance and Regulatory Adherence

• Compliance with relevant legal, regulatory, and internal standards in audit and internal control processes.
• Number of non-compliance issues identified during audits.

1. Process Improvement

• Implementation of process improvements within the audit function (e.g., technology adoption, audit automation).
• Reduction in audit cycle time through efficiency improvements.

1. Financial and Operational Efficiency

• Adherence to budget for the audit and internal control department.
• Cost-effectiveness of audit processes without compromising quality.

1. KEY RELATIONSHIPS

• Internal
• Senior management (CEO, CFO, etc.)
• Audit committee and Board of Directors
• Risk management team
• Compliance and legal departments
• IT and cybersecurity teams
• Operational and business unit leaders
• Finance and accounting departments

1. KEY RELATIONSHIPS

• External
• External auditors
• Regulatory bodies and financial authorities
• Bank's external legal advisors
• Industry peers and audit associations
• Third-party vendors (for audit tools and services)

1. COMPETENCIES

1. Leadership and team management
2. Risk management and internal controls
3. Regulatory and compliance knowledge
4. Audit planning and execution
5. Strategic thinking and problem-solving
6. Strong ethical standards and integrity

• Qualification
• Bachelor's degree in Accounting, Finance, Business Administration, or a related field. A master’s degree or professional certification (e.g., CPA, CIA, CISA) is preferred.
• Minimum of [7+] years of experience in audit, internal controls, and risk management, with at least [3+] years in a leadership role within a banking or financial services environment.
• Strong knowledge of regulatory requirements, banking operations, and digital banking trends.
• Proven experience with audit methodologies, internal controls, risk management practices, and compliance frameworks.
• Familiarity with banking IT systems and digital banking platforms, including data security and fraud detection.
• Excellent communication and presentation skills, with the ability to interact with senior executives and regulatory authorities.
• Strong analytical and problem-solving skills, with a proactive and detail-oriented approach to risk management.
• Specific Working Experience
• Minimum 5 years working experience
• Personality Attributes
• Business / commercial minded orientation
• Commitment
• Honesty
• Integrity
• Proactive

Interested candidates are invited to submit their resume/ CV to iacareersgh@gmail.com.  The subject line should be "Head of Audit and Internal Control - Digital Bank”