Head of Internal Audit

Head of Internal Audit
Location: Glasgow
Salary: Competitive
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.
Internal audit is an independent, objective assurance function that uses a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. It provides independent assurance to the Board (via the Board Audit Committee) as to the effectiveness of the control across the Bank.
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.
Role Responsibilities
Development and on-going monitoring of an annual risk-based audit plan (the plan) and an annual budget for approval at the Board Audit Committee.
Delivery of the annual audit plan within budget and agreed SLAs.
Providing periodic opinions on the overall effectiveness of the governance, culture, and risk and control framework across the Bank.
Issuing regular reports to the Board Audit Committee and other relevant Boards and Committees regarding progress of the plan and budget, emerging risks and trends and the level of overdue audit actions and failed validations (audit actions which cannot be verified as complete).
Ensuring the adequacy of resource levels, knowledge and experience within the Internal Audit function (and cosource partner) to support the delivery of effective and independent assurance.
Development and utilisation of a robust audit methodology, which meets the requirements of the Institute of Internal Audit Standards and good practice.
Providing leadership to the Internal Audit function in line with the Vision, Strategy, policies, regulations and Values and Behaviours of the Bank.
Supporting management across the Bank in improving the effectiveness of governance, risk management and internal controls.
Ensuring that audit findings are accurately recorded, tracked and validated and that management provide meaningful and realistic actions (time and activity) to close any audit issues
Inspiring and engaging others through role modelling the Corporate Values and Behaviours across and beyond own area of responsibility and challenging examples of unacceptable behaviour.
Ensuring that people management practices are implemented in accordance with the Bank’s people management policies procedures and culture.
Development and delivery of the Internal Audit Strategy and Vision.
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.
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.
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). Behaviours
Demonstrates integrity.
Demonstrates competence and due professional care.
Is objective and free from undue influence (independent).
Aligns with the strategies, objectives, and risks of the organisation.
Appropriately positioned and adequately resourced.
Demonstrates quality and continuous improvement.
Communicates effectively.
Provides risk-based assurance.
Is insightful, proactive, and future-focused.
Promotes organisational improvement.
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
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