Internal Audit

Summary of the role:

Waystone Group Internal Audit's objective to consistently assess the adequacy and effectiveness of governance and management of risks, giving an evidence-based opinion on all aspects of governance, risk management and internal controls.

The Manager - Internal Audit plays is a supporting role to the Senior Manager. Holding a position in the third Line of Defense, Internal Audit will perform risk based audit testing on Waystone entities. This role will be responsible for performing testing indicated on the Internal Audit Program as agreed.

Duties and Responsibilities

Internal Audit Function

Working with the Senior Manager and/or Head of Internal Audit:

• Assist in the recruitment of an Internal Audit Team to execute on the Internal Audit Testing
• Assist in the development of the 3 year Audit Plan to completion including an annual revalidation of Plan, to ensure that risks remain relevant and priority levels are the same
• Assist in the planning and execution of audit engagements and properly and adequately documents the testing from scope to report delivery.
• Assist in periodic and consistent Board reporting at both Waystone entity level and to the Group Audit Committee
• Assist in bespoke investigations/reviews as required.

Internal Audit Execution

• Proactive engagement with stakeholders to expound, detail and comprehensively train key stakeholders on the Internal Audit Program/Framework
• Ensures that Internal Audit Tests/Reports are properly and adequately documented as agreed with relevant stakeholders
• Keeps the Senior Manager and auditee updated on the status of the audits and observations noted during the course of testing
• Produce Internal Audit Reports for approval by the Senior Manager – Internal Audit and/or the Head of Internal Audit
• Follow-up action plans for corrective actions relating to audit findings or findings arising from other reviews.

Day to Day

• Responsible for keeping a knowledge base and skills required for the execution of the internal audit tests on regular basis
• Prepares and monitors the work allocation to ensure team assignments based on requisite knowledge, skills and other competencies required to complete the audit testing
• Provides appropriate instructions and guidelines during the execution of the audit assignment to achieve the audit objectives
• Timely execution of work allocation to ensure audit testing is planned, executed and completed fully,
• Escalates issues that may arise during an audit testing to the Internal Audit Senior Manager and/or the Head of Internal Audit

Internal Audit Team

• Assist in the hiring of a new team initially involving recruitment, orientation and training of new employees
• Assist with team planning, people management, evaluation processes etc. as needed.
• Develop and deliver training as part of the team's professional development initiatives to enable continual team learning and performance
• Agrees and monitors direct reports on objectives and a professional development plan for measuring performance
• Executes an agreed set of objectives and goals for measuring performance

Stakeholder Management

• Engage proactively with stakeholders to explain, detail, and comprehensively train key senior management stakeholders on the Internal Audit Program/Framework.
• Foster collaboration with senior management to ensure Internal Audit needs are understood and met.

General Experience:

Experience in (i) risk assessment (ii) control & risk evaluation, and (iii) reporting. Ability to understand and assess the robustness of controls governing business processes.

To perform this job successfully, an individual should be able to perform each duty independently or as part of the team and/or display an aptitude for fast learning. The duties and responsibilities listed in this job description are demonstrable of the knowledge, skill, and/or ability for a candidate.

Qualifications

• A bachelor's degree or significant experience in risk, compliance, audit or operations-based control function.
• Industry qualifications – CIIA or recognised accountancy qualification
• 8+ years' relevant experience in financial services with proven path of advancement. Asset Management experience, with knowledge of UK and EU regulatory requirements is desirable
• Excellent interpersonal and communication skills, both written and verbal.
• Excellent people management skills, and the ability to balance competing deadlines and stakeholders
• Excellent stakeholder management skills with the ability to successfully influence people at all levels of the Waystone Group.