Job Description :
Job Title: Internal Audit and Risk Director
Level: Senior Level
Reports To: Board Audit Committee (Accountable) with a dotted line to the Group CEO & Managing Director (Administratively).
Context/Scope
EABL is the leading drinks company in Eastern Africa with a wide portfolio of products in beer, spirits, malt, and other non-alcoholic drinks. EABL is quoted on all three East African stock exchanges and has operations in Eastern Africa.
EABL an issuer of securities to the public through the Capital Markets Authority is required to adopt the provisions set out under the Code of Corporate Governance Practices for Issuers of Securities to the Public 2015 and this code requires the internal audit function to provide independent assurance of the control environment to the Board Audit and Risk Committee (BARC).
Dimensions
Financial
- Volume: 17,200,000 EUs
- NSV: £740m
- Trading profit: £205m
Market Complexity
EABL operates within a multi-cultural, multinational, multi-currency environment. The Group comprises nine trading entities, most of which have complex ownership structures including third-party interests. Each market also operates in different ways in terms of production and route to market, and with expansion across the region, this is expected to evolve further. Therefore, there is a diverse universe with regard to the control environment governed by three lines of defense i.e., the Controls Assurance and Risk Management (CARM) framework, which is Diageo’s process for assessing, testing, and reporting on the effectiveness of our risk-based internal controls framework in all our markets and functions. Further to this, there is management oversight, and the 3rd line of defense is provided by the BARC and the Global Audit and Risk function.
Leadership Responsibilities
This role is a key adviser to the Board Audit and Risk Committee and also to Senior Management with regard to the effectiveness of the group’s controls.
It has direct oversight four resources i.e., one internal audit manager and three associates.
The role interacts with the group’s external auditors, auditees within the group, regulators and also wider executive management in the group.
Required leadership capabilities therefore include:
- Relationship Management and business partnering skills – proven experience of building, developing, and sustaining relationships with key stakeholders, especially senior management. The ability to influence strategic decisions across the business
- Project Management skills with experience of managing and delivering different priorities
- People management skills – ability to influence, cajole and direct where appropriate. Know when to make a difference; judge when to intervene
- Strong interpersonal skills and ability to communicate effectively at all levels both internally and externally (written and verbal)
Purpose of Role
The scope of the role is to provide independent assurance to the Board Audit and Risk Committee of EABL on the quality and effectiveness of the Entity’s internal controls, risk management, and governance policies, frameworks, systems, and processes, and their application.
Role Responsibilities
- Accountable for developing the group’s audit framework/charter and policy guidelines including the procedures that will be guiding the audit team to execute audit activities following the approved framework.
- Accountable for developing the Group’s Annual Audit work plan based on a risk-based methodology with input from Management and the BARC. The work plan will be presented to the BARC annually for approval.
- Ensure audit standards are applied for written work programs and working papers and that sufficient competent documentation is obtained to evidence audit work performed and conclusions drawn.
- Give overall supervision of the work of audit staff to ensure timely implementation of the approved audit plan and ensure maintenance of high-quality standard of audit work.
- Conduct special tasks, including coordination of fraud investigations.
- Establish standards of performance of audit staff and assess to ensure performance meets standards and targets.
- Inform the EABL CEO and the BARC of audit activities and any material audit findings through routinely scheduled reports and meetings.
- Maintain regular communication with the Board and regulators on all matters of governance and/or compliance.
Qualifications and Experience Required
Qualifications
Being a member of CPA (K) is mandatory for this role. Therefore, having a CPA(K) or close to attaining this with either ACCA or applicable qualification is required.
Experience
- Minimum of 5 years’ experience at the Executive or managerial level in Internal audit, External audit, or Risk Management/Governance environment.
- Design of risk-based Internal Audit programs
- Experience in risk appraisal and management techniques
- Experience international organizations with overseas offices
Person Specification
- Excellent communication and reporting skills (verbal and in writing)
- Planning & analytical skills
- Negotiating and influencing skills
- Proactive, cooperative, and supportive team player
- Proven ability to persuade, influence and build credibility across the functions.
- Ability to work autonomously and engage cross-functionally.
- Commercially aware and articulate
- Analytical and logical
- Ability to manage projects, prioritize and work to deadlines.
- Flexible and able to adapt readily to a changing environment.
- Excellent Microsoft Excel and Financial Modelling skills.
Celebrating our inclusive and diverse culture is core to Diageo’s purpose of “celebrating life every day everywhere”. This purpose is, in itself, inclusive in nature, as it values everybody irrespective of background, disability, religion, gender or ethnicity.
Our ambition is to create the best performing, most trusted and respected Consumer Products Company in the world. To achieve these, we need the world’s very best people.
Feel inspired? Then this may be the opportunity for you. Apply to join us.
