Director – Internal Audit at Workers’ Compensation Fund Control Board

The Workers’ Compensation Fund Control Board (WCFCB) is a social security scheme responsible for compensating workers in respect of accidents suffered and diseases contracted during the course of employment in accordance with the provisions of the Workers’ Compensation Act No. 10 of 1999 of the Laws of Zambia.

The Workers’ Compensation Fund Control Board invites applications from suitably qualified Zambian citizens to fill the following vacant positions.

DIRECTOR – INTERNAL AUDIT (X 1)

A. JOB PURPOSE

To drive a comprehensive audit program and provide audit advice to management and staff in the WCFB, and ensure that all transcctions and operations in the organisaticn adhere to acceptable principles, corporate governance, financial regulations and with established company policies

B. JOB RESPONSIBILITIES

• Developing and monitoring the implementation of the audit strategy to support the implementation of the WCFCB overall strategy that supports the achievement of the WCFCB business objectives.
• Ensurc development and implementation of internal audit strategies and programs aimed at providing on independent and objective opinion to management on risk management, controls and governance by measurirg and evaluating their effectiveness in achieving the Institutional agreed objectives.
• Coordinating the development of the audit work plan to ensure the audit strategy is implemented along set timelines.
• Developing an annual programme of audit review work, to ensure audit reviews are done in a timely manner for quality management purposes.
• Ensure preparation of timely and accurate reports of findings and recommendations for management attention and communicates such audit results to other stakeholders as required.
• Presenting management recommendations on audit review reports to the board for approval and further recommendations on implementation at WCFCB.
• Monitoring the implementation of the board recommendations to ensure appropriate interventions are implemented for any challenges identified in the implementation.
• Ensure that out periodic system reliability tests are carried out to confirm the efficiency and effectiveness/adequacy of the internal controls and procedures and prepares reports recommending corrective measures for management.
• Liaises with external auditors in the interpretation of reports and any other issues related to internal controls and procedures.
• Ensures that salaries and allowances and any other emoluments paid to members of staff are strictly in accordance with the financial regulations, statutes, procedures and ondifions of service and as amended from time to time.
• Ensures that programs of work carried out by subordinates cover all accounting procedures and documentation. Ensures the preservation of accounting records as provided for by the financial regulations.
• Carries out ad hoc and special audit investigations whenever requested by the controlling officer or out of sheer necessity in the public and stakeholders interest.
• Reviews all con tracts that the organisation enters into in order to ascertain that the dealings and transactions involved were conducted at arm’s length and quality of management decisions.
• Coordinating recruitment of external auditors to enhance transparency, ensure the most qualified auditors are hired, and for compliance with the relevant laws and regulations:
• Reporting to the Audit Committee of the Board in relation to the adherence to the internal systems, Policies and procedures to avert risks that arise.
• Directs the performance of audit procedures, including identifying and definirg issues and recommendations, developing criteria, reviewing and analyzing relevant information. evaluating evidence, documenting business processes and procedures. and completing audit documentation.
• Reviews and ensures that audit work conforms to the professional practices and standards of internal audit.
• Ensure training and development of subordinates to their full potential by sending them to reputable accounting institutions in order to enhance their knowledge and skill in their area of operation.

C. JOB REQUIREMENTS

Candidates must have the following:

• Grade Twelve (12) Certificate with five (5) credits or better which should include English and Mathematics.
• Degree in Accou ntancy; or ACCA, CIMA or equivalent.
• Master’; Degree in any Business field.
• Not less than ten (10) years’ experience in Internal Audit at a senior management level in an organisation of similar size.
• Certified Risk Analyst, Certified Enterprise
• Risk Mancger, or equivalent.
• Member of the Institute of Internal Auditors, ZICA or ACCA or CIMA, CISA and IRM.

Skills

• Audit planning
• Audit strategy formulation
• Implementation and monitoring
• Risk assessments
• Internal audit standards and procedures
• Internal control assessments
• Risk based auditing
• Risk management framework and process
• Computer Aided Audit Techniques
• IT Systems and security audit
• Audit reporting
• Understanding of financial management
• Knowledge of accounting systems
• Corporate governance
• Strategic thinking and planning
• Stakeholder management
• Risk management
• Project management
• Change management
• Analytical thinking
• Budgeting and planning
• Report writing
• Leadership
• Customer service
• Decision making

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