Director of Internal Audit

  • 4 months ago

    Job Description

    The Electricity Supply Corporation of Malawi (ESCOM) Limited is incorporated under the Companies Act of the Laws of Malawi. Its core business is to procure, transmit and distribute electric power in Malawi. ESCOM is inviting applications from suitably qualified candidates to fill the following vacant position currently existing within the Corporation:

    Director of Internal Audit

    Introduction

    Internal Auditing is an independent and objective assurance and consulting activity that is guided by a philosophy of adding value to improve the operations of the Corporation. It assists the Corporation in accomplishing its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the Corporation’s governance, risk management and internal control.

    The internal audit activity is established by the Board of Directors, working with the Audit Committee of the Board.

    Therefore, its activity’s responsibilities are defined by the Board of Directors, as part of its oversight role as included herein.

    As such the Director of Internal Audit will report functionally to the Board of Directors through the Board’s Audit Committee and administratively (i.e. day to day operations) to the Chief Executive Officer.

    Responsibility;

    The purpose of the job, therefore, encompasses, but is not limited to the examination and evaluation of the adequacy and effectiveness of the Corporation’s governance, risk management, and internal controls as well as the quality of performance in carrying out assigned responsibilities to achieve the Corporation’s stated goals and objectives. This includes:

    • Evaluating risk exposure relating to achievement of the entity’s strategic objectives.
    • Evaluating the reliability and integrity of information and the means used to identify, measure, classify, and report such information.
    • Evaluating the systems established to ensure compliance with those policies, plans, procedures, laws, and regulations which could have a significant impact on the Corporation.
    • Evaluating the means of safeguarding assets and, as appropriate, verifying the existence of such assets.
    • Evaluating the effectiveness and efficiency with which resources are employed.
    • Evaluating operations or programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs are being carried out as planned.
    • Monitoring and evaluating governance processes.
    • Monitoring and evaluating the effectiveness of the Corporation’s risk management processes.
    • Evaluating the quality of performance of external auditors and the degree of coordination with internal audit.
    • Performing consulting and advisory services related to governance, risk management and control as appropriate for the Corporation.
    • Reporting periodically on the internal audit activity’s purpose, authority, responsibility, and performance relative to its plan.
    • Reporting significant risk exposures and control issues, including fraud risks, governance issues, and other matters needed or requested by the Board.
    • Evaluating specific operations at the request of the Board or management, as appropriate

    Qualifications and skills;

    • The applicant should have a minimum qualification of a Bachelor’s Degree in Accounting, Accountancy or Finance.
    • He/she should be member of good standing of the Institute of Chartered Accountants in Malawi, Institute of Internal Auditors, or an equivalent professional qualification.

    Skills, Abilities and knowledge;

    • The ideal candidate for the position will inter alia, have;
    • Strong knowledge of standards, procedures and general auditing policies;
    • Strong ability to supervise and train subordinates, including organizing, prioritizing and scheduling of work assignments;
    • Ability to analyse and solve problems relating to auditing and related disciplines;
    • Effective and explicit communication skills
    • Strong knowledge in the area of financial record keeping procedures, laws and regulations;
    • Knowledge of the processes of the courts and legal documentation;
    • Ability to analyse data and give correct interpretations
    • Computer skills; possess knowledge of Microsoft Suites, and also proficiency in the use of audit and accounting software
    • Demonstrate a high level of integrity to be able to adhere to regulations and its total compliance

    METHOD OF APPLICATION;

    Interested persons should submit their applications, under confidential cover, either by post, courier or e-mail, enclosing detailed Curriculum Vitae (CV) with names and contact details of three (3) traceable referees to

    The Chairman of the Board, Suite 214,
    2nd Floor, Development House, Henderson Street
    P O Box 1782, Blantyre.

    E-mail address: [email protected]

    Closing date for receiving applications is 29th January 2021.
    Only shortlisted applicants will be acknowledged.

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