Internal Audit Manager
Job Description/Key Resonsibilities
The opportunity awaits qualified results-oriented professionals interested in joining our Team. The Guyana Power & Light Inc. invites applications from interested candidates with the requisite qualifications and experience to fill the vacant position of Internal Audit Manager. The incumbent, plans, organizes, directs, controls and coordinates all Financial, Commercial and Technical Internal Audit work of the Company.
KEY RESPONSIBILITY AREAS:
- Design and implement audit plans and programmes to routinely evaluate internal controls for the entire company’s operations including contractual and policy compliance and corporate governance.
- Develop and implement procedures to undertake periodical and ongoing internal audit of all Financial Commercial and Technical Operations of GPL.
- Assist in the preparation and development of the annual Internal Audit Plan.
- Examine and evaluate the adequacy and effectiveness of the organization’s systems of internal control and quality of performance in carrying out assigned responsibilities.
- Assess and report on the effectiveness of management systems.
- Assess the financial and commercial processes to detect control deficiencies and weaknesses; develop appropriate recommendations and action plans for remediation.
- Report to the Board of Directors any errors or irregularities and the non-compliance with/or improper application of the Laws, Regulations, Standards Terms and Conditions, Systems and Procedures and the Authorities governing the transactions of the Organisation.
- Manage financial internal audits to ensure detailed examination and verification of journals and ledger entries, bank statements, inventories, expenditures, and other accounting and financial records, documents and systems of the entire company to ensure financial recording accuracy and compliance with established accounting standards, procedures and internal controls.
- Ensure that audits are properly planned, documented and controlled with the Standards for the Professional Practice of Internal Auditing.
- Ensure that adequate audit steps are undertaken to verify the completeness, accuracy, ownership and valuation, as appropriate, of a transaction area or cycle.
- Plan and conduct audits of data processing activities to ensure:
- Accuracy of input and output data and related reports,
- Adequacy of computer ‘application’ and ‘general’ controls.
- Manage the Division’s approved budget prudently
- Maintain confidentiality of all information arising out of internal audit activities and all matters within the division.
- Determine training needs for subordinate staff and other Company personnel, where necessary. Also to Coach and tutor subordinate.
- Ensure that regular meetings are held with staff on safety codes and Standards.
Required Competencies
| Core/ Leadership | Skill Level & Importance | Description/Behaviours | |
| Adoptability & Managing Change | 3 | H | Helps others adapt to a changing work environment and to embrace change Promotes the benefits of a proposed change Takes time to question; understand and speak to the underlying needs of stakeholders beyond those initially expressed. Makes/recommends changes to work processes or systems to improve business results. Develops plans and prioritizes resources to effectively implement change Remains focused on the desired outcome to help self and others implement change.
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| Applying Learning | 3 | H | Recognizes how prior knowledge and skills apply to complex or new circumstances. Develops innovative ways of applying technical/ professional knowledge to handle new challenges. Demonstrates commitment to continuous learning and growth to develop knowledge and expertise.
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| Communication | 3 | H | • Tailors the content of speech and written communication to suit the level, cultural background and experience of the audience. Establishes communication plans and strategies. Anticipates and prepares for others reactions, adapting tactics to create a specific impact. Communicates complex issues clearly and credibly with widely varied audiences.
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| Creativity & Innovation | 3 | M | Looks ahead and can spot opportunities/obstacles and to develop new approaches, products and services to meet organizational needs. Encourages others to challenge traditional approaches. Asks thought provoking questions to spark others creativity. Support and work with others to produce innovative solutions.
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| Customer Focus | 3 | H | Takes time to understand the real underlying needs beyond those expressed. Focus resources on priority areas and /or key customer groups. Always work closely with customers, developing an independent view of their needs and acting in their long term interest. Monitor customer satisfaction and recommends changes to work processes to improve results and service. |
| Decision Making | I3 | H | Makes complex decisions for which there are no set procedures. Develops innovative solutions that address the root cause of the problem and prevent recurrence. Aligns decisions with organizational goals, direction, ethics and values. Anticipates obstacles and thinks ahead about steps. Makes sound business decisions when faced with complex and contradictory alternatives Defines, communicates and consistently exemplifies the organization’s values and ethics |
| Financial responsibility | 2 | H | Understands the current costs of work processes and programs. Balances cost versus benefit in taking action or making cost related decisions. Prepares accurate cost estimates and schedules. Monitors the budget, tracks costs and revenue, where appropriate. Takes corrective action as required. Monitors to ensure the efficient and appropriate use of resources. Continuously looks for methods to improve operational efficiencies
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| Process improvement & Quality Management | 2 | M | Can identify when Process Improvement methodology should be used to improve a situation Can assemble a process improvement team and deploy basic team forming activities Can provide leadership in applying PI methodology Often holds the role of ‘PI Team Leads’ and has proven results in moving the project through to successful completion
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| Results Oriented | 3 | H | .Tackles difficult problems and takes personal responsibility for reaching solutions. Sees obstacles as challenges and develops innovative strategies to overcome them. Strives for continuous improvement and creative solutions. Sets challenging goals and objectives and measures performance against these. Demonstrates the ability to use corporate resources and expertise to achieve desired results.
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| Safety Focus | 2 | H | Proactively thinks about his/her safety and the safety of others. Keeps personal and group safety on employees’ minds at all times. Adheres to high standards of safety. Reports and / corrects unsafe work conditions. Acts to correct unsafe work habits.
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| Teamwork | 4 | H | Encourage and empower others making them feel accountable and engaged. Creates new opportunities for individuals to work together, breaking down barriers when necessary. Is a model of cooperative behavior and hold team members accountable. Actively promotes diversity through visible actions and initiatives
Manages and balances personal goals with the goals and direction of the Corporation
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| Leading & Developing others | 3 | H | Sets a strong example through own behavior. Inspires and empowers others to overcome difficulties and achieve. Provides challenging assignments and specific opportunities to broaden employees’ skills and experiences. Encourages and acts upon feedback to self. Provides guidance, counsel, direction, and assistance to employees.
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Technical/ Functional Competencies
| Technical/Functional | Skill Level B, W, A,E | 1,2,3,4 |
| High level of organizational and Administrative skills | W | 4 |
| Ability to work independently | A | 4 |
| Brilliant Judgment and Analytical Skills | W | 4 |
| Excellent interpersonal Skills | E | 4 |
| High degree of integrity and confidentiality | E | 4 |
| High level of proficiency in problem solving related to increased operating efficiency | W | 4 |
| Knowledge of Financial and Tax Regulation including NIS, PAYE and VAT | W | 4 |
| Excellent knowledge of financial practices | W | 4 |
Required Qualifications and Experience
MINIMUM REQUIRED EDUCATION AND EXPERIENCE
- ACCA, CPA or other professional qualifications plus Five (5) years relevant experience.
OR
- A Masters Degree in Finance plus Five (5) years relevant experience.