Director - Risk, Internal Audit & Assurance - Birmingham, United Kingdom - IAC - Search

Description

Job Description

We have been retained exclusively by a highly acquisitive, privately owned group to identify a Director – Risk, Internal Audit & Assurance. The business is cash rich, highly profitable and as a leading brand name in its sector it operates globally generating over £1bn in annual revenues. With revenue growth averaging 15-20% annually since the covid lockdown, the Audit Committee and Board have created this new role to enhance the risk and control maturity across all the divisions and enable the group's continued expansion.

Reporting to the Audit Committee and CFO some of the key responsibilities will be:

Internal Audit

• Review existing internal audit approach, methodology and set the strategic direction for internal audit together with a timetable for implementation.
• Effectively manage relationships with key stakeholders in the Group to ensure all significant business developments and any operational changes are communicated and assessed to ensure the annual internal audit plan accurately reflects Group risks and areas of strategic concern.
• Development for agreement with the Audit Committee the annual internal audit plan.
• Management and delivery of the internal audit annual plan. Deliver assurance to the Audit Committee (and the Board) over the Group's control environment.
• Ensure audit techniques and methodologies are aligned with international internal audit standards and best practice.
• Present to the Audit Committee and Board as required on internal audit activities, including the key issues arising from the latest audits, any actions taken following the audit and the implementation of management actions/ recommendations.
• Ensure the tracking and follow up of management actions/recommendations to address identified control gaps, including holding action owners accountable for delivery and bringing to senior management's attention instances where risks are not sufficiently mitigated through the effective and timely completion of agreed actions.
• Develop and manage a peer review assurance process and provide training and support to those operational finance employees to be involved in the peer review process.
• Develop and manage third party to support for the execution of internal audit activities including where specialist knowledge or language skills are required.
• Work with external auditors to ensure that there is a joined-up approach to risk management and monitoring of the Group's control environment. Target efficiencies in the external audit process and fees through internal control development and communication.
• Ad-hoc investigations or projects as advised by the Group CFO or Chair of the Audit Committee from time to time.

Risk Management & Controls

• Responsible for coordinating and continuing to enhance the Group's risk management process.
• Prepare the Group risk register and the reports for the Audit Committee and if required, the Board.
• Build on the existing risk framework and risk management process to ensure closer linkage of the risk register to the work performed by internal audit.
• Develop a broad understanding of the Group's operations and identify key risks and potential control exposures to management. Recommend to senior management strategic and operational proposals to improve controls, mitigate risk and drive opportunities.
• Lead a process to further mature and standardise the Group's control environment, including developing means by which the Group can monitor the operating effectiveness of its controls on an ongoing basis.

The role would suit an individual who is already operating as a Head of Risk & Audit or possibly a strong number two in a large plc function. This individual must also be comfortable operating across both the 2nd & 3rd line whilst the group matures but most importantly, they must be confident operating at Board level and able to quickly build rapport with the Operational Management. Whilst most audits are currently managed remotely, the new role will require a low level of international travel (c. 15-20% max) to meet the regional management and build credibility with those teams.

The Head Office is based in The Midlands just north of Birmingham but the company does operate a hybrid work policy. This individual would be expected to be in the office 1-2 days a week but can then work from home for the remaining time.

IAC is committed to creating a diverse corporate governance profession and is proud to both be an equal opportunity employer and we are also proud to support our clients to be the same. All qualified applicants will receive consideration for employment without regard to race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, or age. IAC is also committed to compliance with all fair employment practices regarding citizenship and immigration status. IAC; at the Heart of Good Governance.

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