Internal Audit Manager

Job description

Grade                              : PTF2Division                             : Internal AuditLocation                           : SecretariatReporting to                     : The Board of TrusteesDirect Supervisees          : Internal Audit OfficerPURPOSE OF THE JOBResponsible for leading the internal audit function of the Fund, providing independent and objective assurance on the adequacy and effectiveness of internal controls and governance processes. This role involves developing and executing a comprehensive audit plan, conducting internal audits across all areas of the Fund’s operations, and ensuring compliance with regulatory requirements and internal policies. The Internal Audit Manager will provide critical insights and recommendations to the Board’s Audit Committee and Management to strengthen internal controls and improve organisational efficiency.KEY DUTIES AND RESPONSIBILITIES Audit Planning and Risk AssessmentDevelop and implement a risk-based annual audit plan covering all areas of the Fund’s operations and activities.Identify activities subject to audit coverage and evaluate their significance in terms of risk, cost, schedule, quality, and regulatory impact.Formulate and coordinate the implementation of internal audit and risk assessment policies, strategies, frameworks, and plans.Identify, assess, and evaluate risks across the Fund and recommend appropriate risk mitigation strategies.Provide independent assurance on the effectiveness of risk management, governance, and internal control processes.2. Audit Execution and AssuranceConduct financial, operational, compliance, and risk-based audits in accordance with approved audit plans and professional standards.Assess the adequacy and effectiveness of internal controls, governance processes, and risk management systems.Evaluate whether resources are acquired economically, utilised efficiently, and adequately safeguarded.Review business processes and recommend improvements to enhance operational efficiency, effectiveness, and control.Leverage audit technology, data analytics, and other audit tools to improve audit coverage, efficiency, and effectiveness.3. Fraud Risk Management and InvestigationsInvestigate suspected fraud, misconduct, irregularities, and misuse of resources using appropriate auditand data analytics techniques.Report fraud investigation findings and recommendations to Management, the Audit Committee, and the Board, as appropriate.Recommend and implement measures aimed at strengthening controls and preventing future fraud occurrences.4. Audit Reporting and Follow-UpPrepare clear, comprehensive, and timely audit reports outlining findings, conclusions, risk implications, and practical recommendations.Present audit findings and recommendations to Senior Management, the Audit Committee, and the Board.Monitor and track the implementation of agreed audit recommendations and management action plans.Conduct follow-up and post-audit reviews to verify implementation and effectiveness of corrective actions.Maintain complete and accurate audit documentation and working papers to support audit conclusions.5. Audit Quality and MethodologyEnsure all audits are conducted in compliance with applicable professional standards, internal audit policies, and best practices.Continuously review, update, and improve audit methodologies, procedures, and audit programmes to enhance audit quality and performance.Promote a culture of continuous improvement within the Internal Audit function.6. Audit Function ManagementManage the activities, performance, and development of Internal Audit staff in line with approved budgets and timelines.Prepare, administer, monitor, and control the budget of the Internal Audit Division.Ensure effective allocation and utilisation of audit resources to achieve departmental objectives.7. Regulatory Compliance and Pension Fund AssuranceAudit compliance with the Pension Act, Pension Rules, Fund Rules, and directives issued by the Registrar of Financial Institutions and other regulatory authorities.Report identified regulatory breaches and non-compliance issues to Management, the Audit Committee, and the Board.Review compliance with prescribed investment limits, asset allocation requirements, and custodial arrangements.Audit member benefit administration processes, including contributions, transfers, withdrawals, and benefit payments, to ensure accura

Requirements

Apply by email: vacancies@psptf.mw