Organizational Scope
Job Title: Chief Audit Executive
Division: Audit
Reports to: Audit Committee of the Board of Directors, President
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OVERALL PURPOSE
Responsible for leading an independent and objective assurance and consulting activity designed to add value and improve the organization’s operations, through a systematic, disciplined approach in evaluating and improving the effectiveness of risk management, control and governance processes.
The role will be reporting functionally to the Audit Committee of the Board of Directors, and administratively to the Office of the President.
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MAJOR RESPONSIBILITIES
1. Stature and Presence
> The Chief Audit Executive (CAE) must have the professional presence and stature to function as a trusted advisor.
> Develop and maintain strong relationships internally and with executive and senior management, and externally with the audit committee, board, regulators, and external auditors.
> On an ad-hoc basis perform functions such as:
+ Provision of efficient Secretariat support to the Audit Committee (AC)
+ Facilitation and logistical support for regular and special AC meetings
+ Preparation and timely circulation of minutes of meeting including preparation and circulation of relevant materials for the meeting
+ Other support activities to enable the AC to meet its mandate under its Charter
> Maintain continuous and proactive communication with all key stakeholders while keeping an appropriate level of objectivity and independence.
> Maintain personal strength to make tough calls and stick by them.
2. Strategic Audit Focus
> Develop a vision for a strategic internal audit process, addressing the key business strategies and risks to the organization.
3. Ability to Exercise Sound Judgment and Communicate Clearly on Audit Issue
> Raise and communicate in a timely manner significant issues to the AC and management with recommendations as to which deserve their immediate action.
> Prepare and issue internal audit reports in accordance with the performance standards of International Standards for the Professional Practice of Internal Auditing (ISPPIA).
> Maintain an appropriate process to ensure the company takes corrective actions in a timely manner.
> Issue guidance and advisories to process and control owners or stakeholders on matters relating to compliance, risk and internal controls.
4. Management of Technical Audit Activities
> Ensure that the company’s audit plan and other critical audit initiatives are being conducted in accordance with ISPPIA and reflect the current business risks and audit requirements, as well as emerging industry trends.
> Ensure proper execution of required testing procedures and circulation of progress reports pertaining to ongoing audit projects.
> Coordination and collaboration with external auditors towards achieving an efficient conduct of statutory audit and reliance on the work of internal audit.
> Promote compliance and alignment of the Holding company’s subsidiaries to the Group Internal Audit Charter.
> Compliance with group wide directives and guidance on internal audit approach, reporting and escalation, audit project prioritization, and joint audit projects and initiatives.
> Ensure the financials properly reflect the economic substance of critical transactions and initiatives.
> Ensure that internal audit function has access to appropriate resources and technical skills to execute its mandate.
5. Understanding of the Organizational Strategy
> Coordination of group-wide audit, enterprise risk management and compliance activities with the Holding company’s various component and related companies.
> Directs a broad and comprehensive program and strategy to ensure the adequacy of internal controls of GT Capital and its component companies in the achievement of management plans and organizational objectives.
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Qualifications
Education: Bachelor’s Degree in Accountancy, Certified Public Accountant With Masters in Business Administration or professional designation as Certified Internal Auditor (CIA) or Certified Information Systems Auditor (CISA)
Experience: At least 5 years as Chief Audit Executive of a bank or similar category
Knowledge: Extensive knowledge on financial and accounting analysis, Philippine Accounting Standards, etc.
Skills: Strong written and verbal communication skills, proficient computer skills, analytical and numerical skills.
