Director of Internal Audit

Job Description

<p><strong>JOB PURPOSE</strong></p><p>Drives audit, assurance and related activities for respective area or domain across TAQA group, to ensure effectiveness of overall risk mitigation, control and governance processes, in alignment with IIA standards, Internal Audit charter and manual. </p><p><br></p><p><strong>KEY ACTIVITIES:</strong></p><p><br></p><p> <strong>Audit &amp; Assurance</strong></p><ul><li>Lead and direct audit, assurance and related activities of Business Operations audit across TAQA group for respective area or domain, under the supervision of the Chief Internal Auditor, to ensure effective risk mitigation, control and governance processes in alignment with IIA standards, Internal Audit charter and manual.</li><li>Support development of the Internal Audit function’s charter, policies, methodologies, practices, manuals and templates, to maintain a consistent and methodical approach in execution of Internal Audit function’s objectives, in line with leading industry practices and government regulations.</li><li>Develop the risk assessment and risk based annual internal audit plan for respective audit areas, then work with Chief Internal Auditor to consolidate the overall plan for the function, to provide clarity in timelines, coverage and frequency of Internal Audit activities in respective audit areas across TAQA Group.</li><li>Lead the implementation of the IPPF in the internal audit function of business operations audit.</li><li>Implement a periodic review mechanism for Business Operations, to monitor the progress of internal audit plan and implementation of action plans, along with engaging with concerned stakeholders to resolve issues or remove impediments to on-time completion of activities.</li><li>Take personal accountability for results delivered in areas of responsibility.</li><li>Create audit engagement plans based on the risk and its impact on the organization.</li><li>Assess and take account of the technical aspects of financial, managerial and cost accounting concepts, standards, systems and reporting processes appropriate to the organization.</li></ul><p><strong>Risk &amp; Compliance</strong></p><ul><li>Evaluate the appropriateness of the organization’s frameworks for governance, risk and control.</li><li>Ensure that the team collaborates and avoids duplication of efforts with Risk management &amp; Compliance Functions, to identify, review and monitor function specific risks, along with respective mitigation plans, liaise with internal stakeholders across TAQA group, to determine if established policies and procedures are implemented effectively and maintain relevant policy &amp; procedure manuals to ensure all functions remain updated with compliance requirements and standards.</li><li>Direct the team members in conducting programs/workshops and enhancing the awareness of risk management, governance and control principles across TAQA group, in line with IIA standards, organizational standards and compliance requirements.</li><li>Ensure internal audit activities are aligned with and enhances the organization’s enterprise risk management strategy and risk profile.</li><li>Ensure that proposals for improvements to internal controls are balanced with organizational objectives and capabilities.</li><li>Assess and account for the potential for fraud risk and identifies common types of fraud associated with the organization.</li></ul><p><strong>Stakeholder Management</strong></p><ul><li>Provide a periodic and detailed overview of audit results and corresponding action plans under respective audit areas, and support the Chief Internal Auditor in engaging with the Audit committee and Executive Management of TAQA Group, to ensure effective decision making and implementation of mitigation plans.</li><li>Engage and maintain productive relationships with stakeholders across TAQA Group, primarily up to the level of functional heads, to demonstrate functional capabilities in respective audit areas, effective implementation of audit protocols and engagement plans.</li><li>Act as the focal point with external stakeholders (including subject matter experts and consulting firms), to deliver special assignments, support effective execution of external audits, and stay updated on regulatory changes and industry practices.</li><li>Organize and express ideas clearly and with confidence in order to influence others, anticipate reactions to communication and plan responses in advance.</li><li>Extract key information from a variety of sources to support communication.</li><li>Manage conflict by negotiating and resolving disagreements.</li></ul><p><strong>Consulting Services &amp; Special Projects</strong></p><ul><li>Support the Chief Internal Auditor when required, by bringing in functional expertise into Business Operations audit, to ensure effective and relevant delivery of consulting services to key stakeholders and functions across TAQA group, in adherence to IIA standards and best in class governance processes.</li><li>Direct the team in effective application of digital and analytics initiatives to audit engagements, and collaborate with the analytics team to build required dashboards and reporting mechanisms in respective audit areas.</li></ul><p><strong>Professional Development</strong></p><ul><li>Pursue professional development opportunities, including internal / external training and professional association memberships, and utilize them to enhance processes and team capabilities under respective areas, towards achieving best-in-class standards.</li><li>Conduct relevant learning programs and workshop sessions for Internal Audit team, to support their professional development and achievement of career development goals.</li></ul><p><strong>Managerial</strong></p><ul><li>Continuously assess and monitor the optimum utilization and availability of resources &amp; capabilities under respective audit areas, to ensure successful execution of the annual audit plan and changes in scope.</li></ul><p><strong>General</strong></p><ul><li>Support the Chief Internal Auditor and work with relevant internal stakeholders, to ensure implementation and maintenance of corporate ethics frameworks and committees across TAQA group.</li><li>Take account of the mission, strategic objectives and business nature of the organization.</li></ul><p><strong>Function Specific Activities</strong></p><ul><li><em>Attached as a separate annexure, providing an overview of respective audit areas that this position will take ownership of, and lead the team for executing audit and assurance activities.</em></li></ul><p><strong> Budgets and Plans </strong></p><ul><li>Support<strong> </strong>Chief Internal Auditor in recommending the detailed budget and costs breakdown for respective audit areas.</li><li>Adhere to department’s KPI’s in monitoring budget execution on monthly basis for cost optimization and avoid any budget over run.</li></ul><p> <strong>Policies, Systems, Processes &amp; Procedures</strong></p><ul><li>Contribute to the development of policies, procedures and controls covering all areas of the department’s activity so that all relevant procedural/ legislative requirements and standards are fulfilled to ensure that TAQA Group delivers a best in-class servic<strong>e.</strong></li><li>Guide the team for cost-efficient usage of all applicable resources to reduce wastage and unnecessary expense.</li></ul><p> <strong>Quality, Health, Safety, &amp; Environment (QHSE)</strong></p><ul><li>Adhere to all relevant QHSE procedures, instructions and controls so that TAQA provides a safe, best in class, secure and environmentally responsible service to customers, the public and its own people.</li></ul><p><strong> Leadership/ People Management/ Supervision of Subordinates</strong></p><ul><li>Organize and supervise the activities and work of direct reports to ensure that all work within a specific team is completed to the required standards and in line with TAQA operating policies and procedures.</li><li>Provide on-the-job training and constructive feedback to direct reports to support their overall development.</li><li>Manage department staff by overseeing their performance management, recruitment, training and development to ensure high levels of engagement and competence.</li></ul><p> <strong>Continuous Improvement</strong></p><ul><li>Motivate team and contribute towards identifying opportunities for continuous improvement across one’s scope of work in order to achieve the Group’s mission, vision and strategy.</li><li>Share ideas and viewpoints to further streamline processes, thus driving efficiency and improvements across the organization.</li><li>Share knowledge and experiences with the senior auditors to buildup capabilities within the team and enrich the department qualifications and skillsets per the Department’s KPI’s.</li></ul><p> <strong>Change Management</strong></p><ul><li>Motivate subordinates and contribute to the identification of opportunities to take part in change initiatives, programs and projects that reflect international best practice and changes in the competitive environment.</li></ul><p><br></p><p><strong>Education &amp; Qualifications</strong></p><ul><li><strong>Required</strong>: Bachelor’s degree in Accounting, Finance or other functionally relevant disciplines</li><li><strong>Preferred</strong>: Master’s in Business Management or equivalent</li></ul><p> </p><p><strong>Certifications</strong>:<strong> </strong>Preferred<strong> </strong>CA, CIA, CISA or other relevant professional certifications</p><p><strong> </strong></p><p><strong>Experience</strong></p><ul><li><strong>Required</strong>: 12 years of overall experience in internal auditing, with at least 5 years in managerial or team-lead positions</li><li><strong>Preferred:</strong> At least 4 years of managerial or team lead experience in OFSE based or related organizations</li></ul><p><strong> </strong></p><p><strong>Language</strong></p><ul><li>Bilingual (English &amp; Arabic) proficiency preferred</li></ul>