About the Head of Internal Audit role
Our client is a growing, innovative Challenger Bank with a strong appetite to lend supported by an existing geographic footprint, competitive product offering & growing lending book. As part of the next stage of their growth journey they are looking for a Head of Internal Audit.
Purpose of the Head of Internal Audit role;
- Responsible for the development, securing and monitoring of the IA Budget.
- Accountable for development and delivery of the audit plan in line with agreed budget.
- Responsible for all 3rd party co-source internal audit SMEs that are allocated to the Bank for each individual audit.
- Manages the Internal Audit Co-Source arrangement.
- Contributes through leadership or thought leadership.
- Contributes through management or expertise.
- Contributes through guidance and knowledge.
- Contributes independently.
Reporting lines of the Head of Internal Audit role
The role holder reports to the Chief Executive Officer with a dotted line to the Chair of the Audit Committee.
Committee Responsibilities (include Chair, Member and Mandatory Attendee only)
- Board Audit Committee - Invitee
- Board Risk Committee - Invitee
- Executive Committee - Invitee
SMCR Responsibilities
This role is governed by the Senior Manager Regime and approval is required from the PRA and/or FCA.
The role profile is aligned to and informs the Statement of Responsibility and Responsibilities Map that is submitted to the Regulators and provides information on the key accountabilities and skills that the role holder needs to be able to be fully competent to perform. The profile also sets out any qualifications required for this role and the role holder should expect to be assessed on an on-going basis to demonstrate that they remain both fit and proper and competent to perform the role.
The role holder is also expected to comply with both the Senior Manager and Individual PRA and FCA Conduct Rules.
Key Accountabilities of the Head of Internal Audit role
Committee Responsibilities (include Chair, Member and Mandatory Attendee only)
- Board Audit Committee - Mandatory
- Board Risk Committee - Invitee*
- Executive Committee - Invitee*
- Executive Risk Committee - Invitee*
- As requested by the CEO or CRO as appropriate.
This role is governed by the Senior Manager Regime and approval is required from the PRA and/or FCA.
Skills & Experience of the Head of Internal Audit role
- Commercially aware, in relation to the external competitive market but also the requirements and flexibility required of working within an SME organisation.
- Previous SMF holder within Financial Services Essential:
- At least 10 years' experience in a senior role within Financial Services (Audit/Risk/Governance).
- Good knowledge of internal auditing, the IIA standards (mandatory for bank auditing) and experience in delivering audit programmes and working with management and Board Audit Committee on how much auditing to do, and effective closure of audit findings.
- Strong customer centricity and appreciation of changes in customer behaviour.
- Excellent written and verbal communication skills such that they can convey complex issues and their related solutions with clarity and incisiveness.
- Experience of regularly managing situations where the interpretation and communication of complex and/or sensitive information is required.
- Ability to negotiate with Senior Management by utilising knowledge (both business and technical subject areas).
- Good organisational skills with the ability to manage own workloads to deliver department objectives, including SLAs.
- A proven ability to develop and maintain independence and effective working relationships, both internally and externally, in order to support the achievement of working objectives.
- Extensive experience using appropriate/differing leadership styles responsive to the requirements of the situation in order to achieve a desired outcome.
- Evidence of managing own personal development (both technical and softer skills).
Qualifications of the of the Head of Internal Audit role
- Qualification - ACMA, ACCA, ACCA
- Previous approval as SMF5 in a Bank
- Professional Membership - Institute of Internal Auditors (iia)
For more information about the Head of Internal Audit role or to apply send your CV now.