Head, Internal Audit at Reliable Steel and Plastic Industry Limited

Reliable Plastic was incorporated on April 28th, 1998. We have been committed to providing the best quality products to our customers since its inception. Apart from the outstanding service that is provided, consumers are sure to be completely satisfied with the end product. Reliable Plastic promises to use only quality material for your product. Everything is done in-house with the company and therefore is your one-stop shop for product manufacturing.

We are recruiting to fill the position below:

Job Title: Head, Internal Audit

Location: Anambra
Employment Type: Full-time

Job Summary

• This role is responsible for improving our organization’s internal control structure and production operations by bringing a systematic and disciplined approach to the effectiveness of risk management, protect against fraud and theft of the organization’s assets and make recommendations on how to improve internal controls and governance.
• Review existing accounting and financial controls and other legal compliance processes in place and make any necessary revisions or additions and communicates urgent changes immediately with department managers and staff. Developing strategies that work to minimize financial risk and production loss.
• Reviews and appraises the soundness, effectiveness, and proper application of accounting and financial controls, compliance procedures and controls and timeliness of documentation generation. Implementing, directing and overseeing the auditing and compliance programs. Conducts and directs audits and ongoing reviews of organization controls, operating procedures, and compliance with policies and regulations.  Assesses the adequacy and extent of programs designed to safeguard organization assets. Compiles and issues reports detailing conclusions and providing recommendations for improvements. Serves as liaison for all external audit and regulatory agencies.

Key Result Areas (KRA)
The key result areas of this role are:

• Effectiveness of fraud management and control measures
• Control of operational losses and leakages
• Enterprise wide cost control & consciousness
• Efficiency in raw material utilization / wastage control
• Efficiency in output/productivity monitoring
• Efficiency in other inventory control and monitoring
• Adequacy and reliability of Accounting records/information
• Regulatory compliance rate
• Enterprise wide accuracy & reliability of data, information & reports
• Rate of compliance to controls / staff discipline

Responsibilities
Internal Audits:

• Design and prepare annual “Audit Plan” by applying risk-based approach to ensure the organisation complies with internal regulations / policies and established protocols.
• Develop and maintain the internal audit procedures to ensure that best practice is taken account of and that the audits address specific areas of risk management (both financial and production).
• Undertake the approved internal audit plan in line with agreed procedures liaising with all parties.
• Conducting audits of policy and compliance to standards.
• Examines documentation, including reports, statements, records, and memos to gather information.
• Completes standard paperwork and questionnaires to confirm internal controls.
• Presents summarized findings concerning audit results and trends for internal groups.
• Analyses audit results for proper “corrective actions” for management to improve.
• Makes recommendations for the best ways for a company to avoid fraud and reduce waste.
• Assesses best practices for an organization and makes relevant, informed suggestions.
• Update auditees on findings and the audit process, and properly follow-up with auditees on the corrective actions and management response.
• Prepares reports and preserves documentation pertaining to audits for internal record and to relevant parties.
• Identify common features across audits and organization-wide issues, proposing appropriate systematic improvements.
• Providing education and training to staff to build audit / risk awareness within the organization.
• Provide feedback to relevant internal party to update the RSP “Risk Register” in the areas of risk evaluation, which involves comparing estimated risks with criteria established by the organization (such as costs, legal requirements and environmental factors).

Internal Controls:

• Design internal control framework within the organization (RSP).
• Identify and document the key controls within each key processes of major functions / stream (e.g. Finance & Accounts, Production, Assembling, Supply Chain, etc.,) to ensure the risk / negative exposures can be properly controlled.
• Evaluate on a periodic basis the effectiveness of the key controls via testing or other methods.
• Provide observation and recommendation to various control owners for improving the control, and follow up within reasonable timeframe.
• Provide informative report to Management on areas where key controls should be implemented or updated with significant impact (positive or negative) to the organization.
• Co-ordinate with functional teams for necessary training to the staff for the purpose of improving control adherence.

Management and Supervisory:

• Checks on team throughout the day to be sure that any issues relating to work performance and personnel are addressed promptly.
• Coaches and develops staff, while fostering a team atmosphere. Provides pep talks as needed and coaching for any performance issues.
• Assists employees with questions or problems they have regarding work assignments, priorities, safety, personnel issues, etc.
• Counsels employees when necessary and recommends to HR such personnel actions as disciplinary action, transfer, promotion, termination of employment, etc. Documents any issues, counseling efforts, etc.
• Oversees training and orientation of new employees and offers additional training as needed. Offers re-training when necessary. Sets up and maintains cross training, as applicable.
• Serves as a role model to all employees. Conducts oneself professionally and abides by Company safety & personnel policies, SOPs, etc.
• Set Performance expectation and target as well as  review all Internal Control and Audit employees’ performance
• Analyze budgets and continuously control Internal Control and Audit cost and identify/ rectify waste measures.
• Check Internal Control and Audit output according to specifications and submit report on performance and progress
• Identify issues of inefficiency, suggest and take action on improvement
• Monitor the efficiency and quality of all Internal Control and Audit job
• Review goals of staff daily and identify root cause if goal was not obtained
• Set Performance expectation and target as well as  review all Internal Control and Audit employees’ performance
• Conduct monthly performance appraisals for all Internal Control and Audit employees and communicate information to HR and Executive Management

The Person

• Bachelor's Degree / HND in Finance and Accounting or related field; MBA or advanced degree in Accounting, Finance  is a plus; Professional qualification such as ACA, ACCA or CFA
• 10+ years Solid knowledge of auditing, accounting, finance and risk management, Interpreting financial and other records in high volume manufacturing operations with at least 5years in managerial role.
• Strong analytical skill set both numerical as well as legal
• Advanced computer software skills, especially Excel (ability to work with complex formulas), PowerPoint and Word.
• Strong combination of technical, leadership, written & oral communication, team collaboration and interpersonal skills
• Adept in process management and proven understanding and application of risk management frameworks.
• Critical understanding in the establishment and operation of internal control mechanisms.

Application Closing Date
30th September, 2021.

How to Apply
Interested and qualified candidates should send their Curriculum Vitae and Application Letter to: [email protected]  and copy to: [email protected] using the job title as the subject of the mail.