Assistant Manager, Internal Audit at Coleman Wires and Cables

Coleman Technical Limited Industries is a leading Nigerian manaufacturer of electrical wires and cables. Established in 1975, Coleman has grown to become a trusted brand iin the production of high quality electrical cables for various industries, including residential, commercial, and oil and gassectors. its the largest cable manufacturers in West Africa.

We are recruiting to fill the position below:

Job Title: Assistant Manager, Internal Audit

Location: Arepo, Ogun
Employment Type: Full-time
Report to: Managing Director
Unit: Internal Audit & Risk Management

Purpose of the Job (Brief)

• To provide independent assurance to the organization’s management and board of directors regarding the effectiveness of the organization’s risk management, control, and governance processes.

Key Result Area
Risk Management and Control:

• Assess the organization’s risk management framework.
• Evaluate the design and effectiveness of internal controls.
• Identify and assess key risks and control weaknesses
• Recommend improvements to strengthen internal controls.

Financial and Operational Audits:

• Conduct financial audits to ensure accuracy and compliance with accounting standards.
• Perform operational audits to assess the efficiency and effectiveness of business processes.
• Review revenue recognition, procurement, and inventory management processes.
• Evaluate compliance with relevant laws and regulations.

Compliance and Regulatory:

• Assess compliance with laws, regulations, and industry standards.
• Review compliance with internal policies and procedures.
• Identify and report compliance gaps and recommend corrective actions.

Fraud Risk Assessment and Investigation:

• Assess the organization’s exposure to fraud risks.
• Conduct fraud investigations as needed.
• Develop and implement fraud prevention and detection measures.

Audit Planning and Execution:

• Develop annual audit plans.
• Allocate audit resources effectively.
• Execute audits in accordance with professional standards.
• Document audit findings and recommendations.

Reporting and Communication:

• Prepare clear concise audit reports.
• Communicate audit findings and recommendations to management and the board of directors.
• Follow up on the implementation of audit recommendations.

Team Management and Development:

• Recruit, hire, and develop a high-performing audit team.
• Provide training and professional development opportunities.
• Foster a positive and collaborative work environment.

Key Activities
Strategic Planning and Leadership:

• Developing and implementing the annual internal audit plan, aligning it with the organization’s strategic objectives.
• Establishing clear objectives and performance metrics for the internal audit team.
• Building and maintaining a strong internal audit team, recruiting and developing talents.
• Fostering a culture of continuous improvement and innovation within the internal audit function.

Risk Assessment and Management:

• Identifying, assessing, and prioritizing risks to the organization.
• Evaluating the effectiveness of risk management controls and processes.
• Recommending improvements to enhance risk management practices.
• Monitoring and emerging risks and adjusting the audit plan accordingly.

Audit Execution and Reporting:

• Planning and executing audits in accordance with professional standards and best practices.
• Leading audit team to conduct thorough and objective audits.
• Documenting audit findings and recommendations clearly and concisely.
• Preparing and presenting comprehensive audit reports to management and the audit committee.

Relationship Building and Stakeholder Management:

• Building strong relationships with key stakeholders, including senior management, the audit committee, and external auditors.
• Collaborating with other departments to identify and address issues.
• Communicating effectively with stakeholders, explaining complex audit findings in a clear and concise manner.
• Maintaining independence and objectivity in all interactions.

Professional Development and Compliance:

• Staying up to date with the latest auditing standards, regulations, and industry trends.
• Encouraging professional development and certifications for the audit team.
• Ensuring compliance with internal audit standards and external regulatory requirements.
• Promoting a culture of ethics and integrity within the internal audit.

Other Requirements:

• Perform any other duties assigned.

Educational Qualifications & Work Experience

• First Degree in Accounting, Finance, or a related field is typically required.
• An MBA or a specialized degree in Accounting or Finance can be advantageous.
• Certifications such as Institute of Chartered Accountants of Nigeria (ICAN), Institute of Internal Auditors (IIA), Association of Chartered Certified Accountants (ACCA), Associate Chartered Accountant (ACA), Certified Public Accountant (CPA) etc are highly valued and required.
• At least 7 years of progressive experience in Internal Audit, Accounting, or a related field. roles.
• Strong technical skills in Auditing, Accounting, and Finance.
• Experience in risk assessment, control evaluation, and risk mitigation strategies.
• Proven experience leading teams and managing complex finance projects.
• Ability to analyse complex data and draw meaningful conclusion.
• Excellent written and verbal communication skill to effectively communicate audit findings and recommendations to management and the board of directors.

Skills:
Core/ Technical:

• Auditing Standards and Practices:
  • International Standards for the Professional Practices of Internal Auditing.
  • Relevant Regulatory Frameworks
  • Audit Methodologies
• Financial and Accounting Knowledge:
  • Financial Accounting Standards
  • Financial Analysis
  • Internal Controls
• Risk Management and Governance:
  • Risk Assessment
  • Control Evaluation
  • Governance Frameworks
• Technology and Data Analysis:
  • Data Analytics Tool
  • IT Auditing
  • Cybersecurity

Behavioral:

• Leadership and Team Management:
  • Team Building
  • Mentorship
  • Performance Management
  • Talent Development
• Strategic Thinking and Planning:
  • Risk Assessment
  • Strategic Planning
  • Prioritization
  • Innovation
• Communication and Stakeholder Management:
  • Effective Communication
  • Relationship Building
  • Influencing Skills
  • Conflict Resolution
  • Independence
  • Confidentiality
  • Professional Skepticism.

Application Closing Date
15th January, 2025.

How to Apply
Interested and qualified candidates should send their Resumes and all their other documents to: [email protected] using "Application for the position of Assistant Internal Audit Manager" as the subject of the mail.

Note: Should you have any questions regarding your Job description please contact a member of the HR Team for clarification.