CHIEF OF INTERNAL AUDIT

The Chief of Internal Audit is responsible for Bushra Business bank’s strategic risk-based internal audit plan and managing the internal audit function in accordance with BB bank’s internal audit charter and the professional standards for internal auditing.

Responsibilities include providing reasonable assurance on the effectiveness of the organization’s risk management and the strength of internal controls.

The position assesses organization-wide compliance with BB bank’s internal policies and procedures, laws and regulations, contractual terms and conditions, Somali government assistance and acquisition regulations/requirements, efficiency of operations, and accuracy of programmatic and financial reporting.

The Chief of Internal Audit reports directly to the Audit Committee of BB bank’s Board of Directors with administrative oversight from the CEO.

Duties and Responsibilities:

• Develop annually a risk-based internal audit plan for Audit Committee review and approval.
• Oversee the implementation of the approved plan, ensure proper resourcing for implementation of the plan, and adjust the plan as needed in response to changes in BB bank’s business risks, operations, programs, systems and controls.
• Keep senior management and Audit Committee apprised of any changes needed to the internal audit plan.
• Ensure methodical documentation of work plans, testing results, conclusions and recommendations.
• Ensure follow up on findings and corrective actions.
• Provide technical assistance with investigations, special audits, and provide subject-matter expertise as needed.
• Remain current on audit and Somalia regulatory oversight trends and develop a risk-based approach incorporated into the annual audit plan.
• Perform organization-wide risk assessments to identify significant risks or exposure related to internal controls or compliance with BB bank’s policies and procedures, laws and regulations, sponsored contract and Somali regulatory requirements, efficiency of operations, and accuracy of programmatic and financial reporting.
• Provide feedback and recommendations on business risks and improving operational efficiencies and processes where appropriate.
• Direct the work of external auditors on select audits, as directed by the Audit Committee and senior management, to ensure the audit work remains within the prescribed guidelines.
• Coordinate and assist with the preparation of Audit Committee materials.
• Participate in quarterly or more frequent Audit Committee meetings
•  Investigate and report to the Audit Committee on activity reported through BB bank’s Hotline/Whistleblower processes and assist in investigations.
• Recommend organization-wide training based on gaps identified to ensure adherence to BB bank’s practices and policies.
• Establish and assign departmental goals to team members and evaluate their performance.
• Responsible for coaching, mentoring, and developing career paths for direct reports