Director of Internal Audit

5 days ago


Abu Dhabi, Abu Dhabi, United Arab Emirates Zexx Full time
Director of Internal Audit

A reputable organization based in UAE is looking to hire a full-time Director of Internal Audit with strong experience in the fields of financial services, real estate, insurance, and healthcare.

Job Summary:

The Director of Internal Audit is responsible for overseeing the internal audit function within the organization. This role involves leading the internal audit team in evaluating and improving the effectiveness of risk management, internal controls, and governance processes. The Director ensures the organization adheres to regulatory and compliance standards, contributes to strategic objectives, and provides independent and objective assurance to senior management and the board of directors.

Key Responsibilities:

  1. Leadership and Strategy:
    • Develop and execute a comprehensive internal audit plan aligned with the organization's objectives, risks, and priorities.
    • Lead, mentor, and manage the internal audit team to ensure efficient and effective audit coverage.
    • Collaborate with senior management to align the audit strategy with overall business goals.
    • Provide leadership in risk management and internal control frameworks across the organization.
  2. Audit and Risk Management:
    • Oversee and conduct audits of financial, operational, compliance, and IT systems, ensuring the timely and accurate evaluation of the organization's risk environment.
    • Ensure the audit approach is risk-based and effective in identifying emerging risks and opportunities for improvements.
    • Identify and assess internal control weaknesses, operational inefficiencies, and areas of non-compliance.
    • Report audit findings to management, outlining key risks and offering actionable recommendations.
  3. Reporting and Communication:
    • Develop and deliver clear and concise audit reports to senior management, the audit committee, and other key stakeholders.
    • Provide regular updates to the board or audit committee regarding audit results, significant risks, and the status of audit recommendations.
    • Ensure that audit results and significant findings are communicated to management, with a focus on strengthening internal controls.
  4. Compliance and Standards:
    • Stay current on industry standards, regulations, and best practices in auditing and internal controls, ensuring that the organization remains compliant.
    • Lead the annual risk assessment process and adapt the audit plan based on changing organizational or external risk factors.
    • Coordinate internal audits with external auditors to ensure comprehensive audit coverage and avoid duplication of efforts.
    • Drive the continuous improvement of the internal audit function, exploring new tools, technologies, and methodologies to enhance audit effectiveness.
    • Foster a culture of ethical behavior, transparency, and accountability within the organization.
    • Provide recommendations on process improvements and assist in implementing corrective actions to address audit findings.
  5. Staff Development:
    • Hire, train, and develop audit professionals, ensuring team members have the skills and expertise to perform audits effectively.
    • Establish performance goals and conduct performance reviews for audit team members.
    • Promote a culture of teamwork, professional development, and ongoing learning.

Qualifications:

  1. Education:
    • Bachelor's degree in Accounting, Finance, Business Administration, or related field (required).
    • Master's degree in Accounting, Finance, or Business Administration (preferred).
    • Certified Internal Auditor (CIA) or Certified Public Accountant (CPA) required.
  2. Experience:
    • Minimum of 15 years of experience in internal auditing, including 7+ years in a leadership role.
    • Extensive experience with financial, operational, and IT audits.
    • Strong knowledge of risk management, internal control frameworks, and regulatory compliance standards.
    • Proven ability to manage and develop audit teams.
  3. Skills and Abilities:
    • Strong analytical, problem-solving, and critical-thinking skills.
    • Exceptional communication and interpersonal skills, with the ability to influence stakeholders at all levels of the organization.
    • Ability to manage multiple audits and projects simultaneously and meet deadlines.
Seniority level

Director

Employment type

Full-time

Job function

Accounting/Auditing

Industries

Insurance and Insurance Carriers

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