Head, Internal Audit at Food Concepts Plc

Food Concepts commenced operations in 2001. From inception, our aim has been clear-cut and focused: to revolutionize the food sector in West Africa and to deliver extraordinary satisfaction to our stakeholders.

Since launching in 2004, Chicken Republic (Subsidiary of Food concepts) has already opened 55 stores in Nigeria and Ghana. On this basis, we are proud of the brand’s hard-earned reputation as the fastest growing chicken QSR in West Africa and the number 1 chicken QSR in Nigeria (both in revenues and number of outlets). In addition, Chicken Republic was ranked as one of Nigeria’s top 20 brands across all categories (Financial Standards Awards 2009).

We are recruiting to fill the position below:

Job Title: Head, Internal Audit

Requisition ID: 1620
Location: Lagos
Job Type: Full time

Job Objective and Summary

• To examine, evaluate and improve the effectiveness and adequacy of risk management, control and governance processes.
• To be the catalyst to improving governance and internal control and also supporting the organisation in its wider business objectives through execution of proactive Audit activities.

Core Responsibilities and Key Result Areas

• Strategic Leadership and Management
• Provide overall direction to drive the vision of the audit function
• Build audit to understand the use of new and effective audit tools
• Ensuring audits are completed to a high level of quality, integrity and agreed timelines
• Communicating audit findings effectively through professionally designed audit reports
• Effectively communicate, verbally and in writing, to the Boards, Audit Committees, and Management
• Build awareness of external leading practices and benchmarks to embed within the internal audit function
• Be the final layer of identification of risk management and exposure before external parties
• Provide necessary support to external auditor, external co-sourcing firms and regulators, as required

Risk / Quality Monitoring and Management:

• Provide teaching, training and coaching of audit staff
• Ensure projects are prioritised based on risk and exposure
• Develop and maintains productive audit staff relationship through communication and meetings with other departments
• Proactive identification of potential risk or exposure from current policies processes and procedures
• Establish quality control programmes during internal audit activities through project planning, resource management, file review, reporting and follow up
• Conduct risk assessment for audit coverage area
• Ensures prioritisation of projects based on risk and exposure
• Provide advice on internal control and participate in enhancing internal audit standards and practices within the company. 

Reporting and Supervision:

• Plan, assigns and supervises audit staff
• Direct the overall internal audit operations on behalf of the Board Audit Committee and the management
• Plan, schedule, coordinate, review and report on the work of audit staff
• Conducts follow-up audits to ensure that regulations and sector rules are being met and best practices are followed

Audit planning:

• Lead the development of the strategic audit plan adopting a risk-based approach
• Provide direction in the cascading of strategic audit plan into annual plans
• Develops procedures, schedules , priorities and programmes for achieving audit objectives and goals

Relationship Management and Capacity Building:

• Prepare and issue complex audit reports to management using advanced audit skills
• Conduct ad-hoc special projects as requested by the Board of Directors, Audit Committee or the MD
• Advise and coaching of Management to address risks and exposure.
• Attend the executive committee and shared services meetings
• Ensure internal audit staff develop skills and knowledge through professional education, seminars, workshops etc.

Key Performance Indicators

• Achievement of Company Sales, EBITDA, GP, PAT targets
• Achievement of the Internal Audit Departments’ budget/targets/objectives
• Achievement of Individual Personal Development Plans

Knowledge Requirements:

• Understanding of policy formulation and regulation
• Understanding of audit and investigation principles and practice
• Understanding of international accounting standards
• Knowledge of documentation
• Deep understanding of the business
• Knowledge of risk management techniques
• Understanding of practice and related policy issues, their implications and applications within the QSR industry
• Understanding of financial and accounts statements

Job Specification

• A good First Degree in Accounting/Finance
• Possession of a Post graduate degree in Finance/Accounting or related degree is an added advantage
• Membership of the CPA or any other related professional qualification is required.
• Minimum of 10 years Internal Audit work experience in a similar organization, professional services firm or retail business

Decision Expectations:

• Acts on defined procedures and decisions
• Plans own work schedule and work schedule of subordinates
• Assigns work to subordinates
• Monitor subordinates’ work performance
• Appraises/evaluates subordinates’ performance
• Recommends operational, strategic and financial decisions.

Application Closing Date
Not Specified.