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Head of Internal Audit at Daystar Power, Lagos

Job Type: Full Time
Job Location: Lagos
Company: Daystar Power

About Daystar Power

Daystar Power is a leading off-grid power service provider, offering hybrid power solutions to commercial and industrial businesses in West Africa. Daystar Power’s solutions “Solar-as-a-Service” (100% solar power) and “Power-as-a-Service” (hybrid power solutions with battery storage) provide clean and reliable power while significantly reducing clients’ overall power costs.

Job Description

  • We are looking to engage a competent Head of Internal Audit (HIA) who will oversee and execute internal audit activities to provide independent assurance that the internal control systems are in place and functioning effectively.
  • The HIA plans and conducts operational, financial and compliance audits to evaluate the design and effectiveness of the Company’s internal controls in mitigating enterprise risks and makes recommendations for improvement.
  • We are seeking a hardworking, motivated, and well-organized individual with a focus on continuous improvement to exceed expectations.

Key Responsibilities

  • Direct the planning, coordination, execution and monitoring of Internal Audit operations, including, but not limited to:
    • Adequacy of internal controls that are put in place within the Company’s processes, systems and structure;
    • Implementation of internal controls;
    • Compliance of relevant policies, rules and regulations;
    • Reliability of financial reporting; and
    • Efficiency of business operations and processes.
  • Periodically review and benchmark financial reporting against best practices & international standards and recommend updates in corporate accounting policies and procedures.
  • Assist in establishing the ethics policy and whistle blowing procedures and ensure it functions properly.
  • Coordinating with the External Auditor to: (i) ensure the internal and external audit activities are complementary; (ii) ensuring recommended improvements are being implemented and reviewing the impacts; and (iii) ensuring compliance of internal audit with the relevant professional standards.
  • Direct the identification and evaluation of the Company’s internal control issues, determination of the audit scope, design of the methodology, and development of the annual audit plan. The plan should be presented and approved by the Board of Directors, via the Audit Committee. It should be developed based on a risk-based methodology and the scope of investigation would encompass all in-house and outsourced operations and processes.
  • Plan and oversee the conduct of audit activities and performance of audit procedures in accordance with the approved annual audit plan or on matters arisen during the year.
  • Prepare and submit audit findings and recommendations to Chief Executive Officer (CEO) and Chief Financial Officer (CFO) periodically and ensure the reports are presented in an accurate and timely manner. To ensure that recommendations are implemented by the relevant business units / department, any non-implementation issues should be escalated to the Audit Committee.
  • Manage the resources under the Internal Audit Department and ensure they are utilized efficiently and effectively.
  • Supervise internal audit staff and be responsible for their development; an
  • Direct the internal audit staff to monitor development of best practices in areas such as audit, fraud prevention and internal controls; regularly benchmark tools and methods against peers to identify improvement opportunities; and scan external environment including government policy changes likely to impact the Company’s business environment.
  • Providing independent and objective assurance that adds value to the Company’s business operation.
  • Collaborating with external experts in various disciplines to investigate major control issues such as fraud, non-compliance etc
  • Cultivating working relationship with regulatory and professional bodies (e.g., the Institute of Internal Auditors).
  • Keeping abreast of development and changes in accounting and financial reporting standards and working with the Audit Committee Chairman and the CFO on their adoption.
  • Monitoring the Company’s reporting practices against peers.
  • Evaluate and assess independently, from the internal control and risk perspectives, significant organization, process, systems, and policy changes in the Company.
  • Provide input in the development and update of the Company’s risk management policies and any risk registers in light of risks identified during the conduct of internal audit activities.
  • Work with the CFO in identifying control weaknesses against strategic and operational risks, recommend enhancement of existing control measures / development of new control measures, and monitor the effectiveness of those measures.

Requirements
Education:

  • Chartered Accountant (ACA, ACCA, CPA, CIMA) with over 7 years of post-qualification experience.

Experience:

  • The HIA will be an experienced professional with a minimum of 10 years of relevant experience, with at least 5 years of managerial experience.
  • Substantial experience in internal audit and/or external audit.
  • Possess relevant professional qualifications in audit such as Certified Internal Auditor (CIA) of the Institute of Internal Auditors (IIA); systems audit professional qualifications such as Certified Information Systems Auditor (CISA).
  • Be familiar with relevant international best practices and standards such as the IIA’s International Standards in Professional Practice of Internal Auditing and the International Financial Reporting Standard (IFRS).

Language Proficiency:

  • English (with good communication skills and accurate reporting skills).

Character:

  • Proactive self-starter and pays attention to details.
  • Self-motivated and demonstrate a sense of ownership with high level of commitment and the ability to thrive under pressure.
  • Passionate leader with excellent team leadership skills.

Competency and Skills Requirements:

  • Strong analytical skills with ability to pay attention to details.
  • Strong knowledge and application of IFRS standards and accounting principles.
  • Advanced communication, leadership, and negotiation skills.
  • Hands-on experience with preparing consolidated financial statements.
  • Excellent analytical skills with strong attention to details.
  • Advanced soft skills including communication, interpersonal and presentation skills.
  • Extensive experience with accounting software packages.
  • Be able to understand where risks lie, where weaknesses are usually found and where internal controls should be set based on direct operating experience in the industries relevant to the Company’s business.
  • Be familiar with the risk assessment process and the compilation of the Risk Register and knowledge of Enterprise Risk Management.
  • Possess in-depth knowledge of the financial reporting and internal controls standards of the jurisdictions in which the Company operates.
  • Be able to manage a team of professionals in carrying out internal audit work.
  • Must demonstrate proficiency with Microsoft Office (Microsoft Excel and PowerPoint in particular).

Benefits

  • Opportunity to work in a forward-looking, innovative company, with international group of colleagues.
  • Unlimited career opportunities – depending on achievements and personal development.
  • A competitive salary and benefits package with long term prospect in a fast-growing company.

How to Apply

To apply for the above position, please click on the link below. Please ensure to apply according to the instruction provided in the box below. Any other form of application outside what is stated will not be entertained.

Interested and qualified candidates should Click here to apply online