HEAD OF INTERNAL AUDIT

1. Annual Audit Plan Development and Execution

•  Assist in developing and executing the annual audit plan.
•  Identify risk areas and prioritize audits based on potential impact.

2. Audit Planning and Management

•  Plan, manage, and determine audit objectives and scope.
•  Develop audit programs and ensure compliance with policies and procedures.
•  Conduct audits efficiently and effectively.

3. Operational Examinations and Compliance

•  Perform operational examinations for compliance with policies and effectiveness.
•  Evaluate efficiency and adherence to accounting principles.
•  Consult departments on compliance and operational matters.

4. Supervision and Development of Audit Staff

•  Supervise internal audit staff and facilitate professional development.
•  Provide guidance and support to audit team members.

5. Audit Documentation and Reporting

•  Document audit findings and prepare comprehensive reports with recommendations.
•  Communicate audit results to management.

6. Risk Identification and Mitigation

•  Identify and mitigate risks, ensuring accurate financial operations.
•  Improve operational efficiency and add business value.

7. Review and Follow-Up Audits

•  Conduct follow-up audits on specific accounts and ensure proper closure.
•  Evaluate implementation of audit recommendations.

8. Liaison with External Auditors

•  Serve as a liaison with external auditors.
•  Ensure proper completion of audit projects.

B. Objectives and Key Results (OKRs)

Objective 1: Enhance Audit Planning and Execution

•  KR1: Develop and complete the annual audit plan with the 1st quarter.
•  KR2: Identify and assess risks for at least 90% of audits conducted.
•  KR3: Ensure all audits are planned, executed, and documented within the defined scope and timeline.

Objective 2: Improve Compliance and Operational Efficiency

•  KR1: Achieve a 100% compliance rate with internal policies and procedures during audits.
•  KR2: Implement at least 80% of audit recommendations within six months.
• KR3: Review and Audit Invoices for approval and payment

Objective 3: Develop and Support Audit Staff

•  KR1: Conduct quarterly training sessions for internal audit staff.
•  KR2: Complete performance evaluations for all audit staff bi-annually.
•  KR3: Maintain a staff satisfaction rate of 85% or higher through regular feedback and development programs.

Objective 4: Strengthen Branch and Departmental Support

•  KR1: Improve the TAT for handling statement within three (3) days maximum.
•  KR2: Ensure 100% accuracy in portfolio reporting through routine operations audits and follow-ups.
•  KR3: Conduct monthly reviews on liquidated/restructured accounts to ensure proper closure and reporting.

Objective 5: Foster Effective Collaboration with External Auditors

•  KR1: Facilitate smooth and timely communication with external auditors for all projects.
•  KR2: Ensure 100% completion of external audit requirements within the stipulated timeframes.
•  KR3: Implement at least 90% of the external auditors' recommendations within one year.