Head Audit Division – Lahore – Pakistan
Bank Category: Specialized Scheduled Bank
Position: Head Audit Division
Job Grade: SVP & Above
Age Limit: 40 - 65 Years
Job Type: Contractual
Contract Period: 03 Years
One of the Specialized Scheduled Bank is seeking is seeking a seasoned and highly skilled Head of Internal Audit to lead the bank’s internal audit function. The Head of Internal Audit will play a critical role in evaluating and improving the effectiveness of risk management, control, and governance processes. The position requires a professional who can independently assess the bank’s operations and ensure compliance with relevant SBP regulations and internal policies.
Key Responsibilities:
- Strategic Audit Planning: Develop and implement a comprehensive internal audit strategy and annual audit plan aligned with bank strategic objectives. Identify key risk areas, including operational, financial, regulatory, and compliance risks, and prioritize audit activities accordingly. Ensure that the audit plan remains flexible and responsive to emerging risks and changes in the banking environment.
- Risk-Based Audits: Lead the execution of risk-based audits across all functions of the bank, including branches, departments, and key processes. Evaluate the effectiveness of internal controls, risk management practices, and governance processes. Provide actionable recommendations to enhance internal controls, operational efficiency, and risk mitigation.
- Compliance Monitoring: Ensure all audit activities comply with relevant banking regulations, industry standards, and internal policies. Monitor the bank’s compliance with regulatory requirements and report significant compliance issues to the CEO, Board Audit Committee (BAC), and Board of Directors. Collaborate closely with risk management and compliance teams to identify and address potential risks.
- Audit Reporting & Communication: Prepare and present comprehensive audit reports to the CEO, BAC, and Board of Directors, highlighting key findings, risks, and recommendations. Maintain open and effective communication with senior management, providing insights and advice on risk management and control issues. Ensure timely follow-up on audit recommendations to verify the effective implementation of corrective actions.
- Team Leadership & Development: Lead, mentor, and develop the internal audit team, fostering a culture of integrity, professionalism, and continuous improvement. Set clear performance objectives and KPIs, provide regular feedback, conduct training needs assessments, and ensure the team possesses the necessary skills and knowledge. Promote collaboration within the audit team and with other departments to achieve audit objectives.
- Continuous Improvement: Stay updated on the latest developments in internal audit practices, banking regulations, and risk management techniques. Identify opportunities to improve the bank’s audit methodology, tools, and practices. Implement innovative audit approaches, including the use of data analytics and technology, to enhance audit effectiveness.
- Stakeholder Liaison: Act as the key liaison between the internal audit function, the CEO, BAC, and external auditors. Build and maintain strong relationships with key stakeholders, including regulators, to ensure effective communication and collaboration. Represent Bank in industry forums, conferences, and meetings related to internal audit and risk management.
Skills and Qualifications:
- Master’s degree in Accounting, Finance, Business Administration, or a related field.
- Professional certifications such as Chartered Accountant (CA), Certified Internal Auditor (CIA), or Certified Information Systems Auditor (CISA) are highly preferred.
- A minimum of 15 years of experience in banking/ financial industry, with at least 5 years of aggregate audit experience in banks/financial institutions.
- In-depth knowledge of banking regulations, risk management practices, and internal control frameworks.
- Strong analytical, problem-solving, and decision-making skills.
- Excellent communication, leadership, and interpersonal skills.
Skills
- Audit Reports Management
- Compliance Management System
- Audit Management
Job Details
Industry: Banking/Financial Services
Functional Area: Accounts, Finance & Financial Services
Total Positions: 1 Post
Job Shift: First Shift (Day)
Job Type: Contract
Job Location: The Mall, Lahore, Pakistan
Gender: No Preference
Age: 40 - 65 Years
Minimum Education: Masters
Degree Title: Accounting, Finance, Business Administration
Career Level: Department Head
Minimum Experience: 15 Years
Skills
- Audit Management
- Compliance Management Systems
- Audit Reports Management
Job Detail
Experience: 15 Years - 17 Years
Salary: Rs. 700,000 - 900,000
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