Position Title: Chief of Internal Auditing
Location: Qatar
Job Purpose:
- Act as the representative for the Board Audit and Risk Committee in overseeing governance, internal controls, and risk management.
- Serve as the Company's liaison with Joint Ventures and State Audit Bureau auditors.
- Formulate the Audit Strategy in collaboration with the Board Audit and Risk Committee and Executive Management.
- Lead and manage all activities of the Internal Audit Department.
- Supervise the audit team in delivering audit services.
Key Responsibilities:
Strategic Planning:
- Guide the creation of the Internal Audit strategy and plan.
- Oversee the development of the audit plan in line with the Internal Audit Strategy.
- Implement innovative improvements and tactical changes within the Internal Audit Department.
Department Management:
- Ensure compliance with International Standards for the Professional Practice of Internal Auditing.
- Adhere to Company Policies, Standards, and Procedures.
- Foster team effectiveness and cohesiveness through leadership, performance management, and feedback.
- Promote team development through performance appraisals and training.
- Focus on developing Nationals to achieve target positions.
Budget Management:
- Develop the Internal Audit budget in alignment with departmental objectives and business needs.
- Present the budget to the Board Audit and Risk Committee.
- Monitor budget performance quarterly.
Risk Assessments:
- Participate in Company Risk Assessment workshops and provide input based on previous audits.
- Direct and approve the annual risk assessment process to identify audit subjects.
- Present Company Risk to the Board Audit and Risk Committee.
Audit Planning:
- Oversee the preparation and review of the Company Audit Universe and obtain approval from the Board Audit and Risk Committee.
- Develop and review a three-year risk-based audit plan and an annual audit plan, obtaining necessary approvals.
- Propose quarterly changes to the Annual Audit Plan and obtain approval.
- Review and approve the Annual Audit Schedule in coordination with Chiefs and Department Managers.
Audit Execution:
- Lead the execution of the annual audit plan and program.
- Approve Audit Planning Memoranda, Risk Control Matrices, and Audit Programs.
- Ensure sufficient records are identified, obtained, analyzed, and evaluated to achieve audit objectives.
- Approve recommendations to improve business processes and secure buy-in from auditees.
- Review and approve the work of Senior Internal Auditors.
Reporting:
- Approve the issuance of audit reports to auditees, Chiefs, and the Board Audit and Risk Committee.
- Ensure the accuracy and support of audit findings and recommendations.
- Ensure timely completion and issuance of audit reports.
Consulting and Management Services:
- Manage consulting services to promote sound business practices as requested by Executive Management and the Board Audit and Risk Committee.
Audit Liaison:
- Represent the Company in dealings with Joint Ventures and State Audit Bureau auditors.
- Provide audit liaison support during assignments.
Follow-Up and Action Plan Tracking:
- Manage follow-up audit activities to ensure timely closure of audit actions.
- Review the adequacy of management's actions to correct reported deficiencies.
- Approve the Weekly Consolidated Audit Tracking Status report.
Special Reviews and Investigations:
- Assess the relevance of special requests and their impact on the annual audit plan.
- Manage and direct special review and investigation assignments.
- Approve special review/investigation reports and notify management and the Board Audit Committee of results.
Board Audit & Risk Committee Secretary:
- Support the Board Audit & Risk Committee Chairman and manage the Committee's functions.
- Review and approve the Committee's meeting agenda and quarterly reports.
- Oversee the preparation of meeting minutes.
Qualifications, Experience, & Skills:
Minimum Qualifications:
- Bachelor's degree in Finance, Accountancy, Internal Audit, or Engineering.
- Professional certifications in Internal Audit (CIA) and Finance/Accountancy or Engineering (CPA/CA/RA/PMP).
Preferred Qualifications:
- Master's degree or MBA.
- Additional certifications such as CISA, CCSA, CRIS, CRMA.
Experience:
- 15 years of relevant experience, including 10 years in auditing and 5 years in a managerial role, preferably in the Oil & Gas, petrochemical, energy, manufacturing, or diversified business sectors.