Independent Consultant - Internal Audit and Risk Management
Private
Total years of experience :31 years, 8 Months
Internal Audit Assurance and Consulting
• Drafted Internal Audit Charters and Service Level Agreements outlining the nature of Internal Audit services, value creation and measurement criteria, communication protocols as well as the overall audit strategy.
• Developed the Audit and Risk Universe, and embedded the Combined Assurance approach to compile Assurance Maps and obtain maximum coverage over a broad range of risks.
• Evaluated the adequacy of the Risk Management Framework against Risk Management Standards (e.g. ISO 31000, COSO IRM Framework) to ascertain that the process is robust enough to support the risk information contained in Risk Registers and to determine whether Internal Audit can rely on the risk information in order to map the Audit and Risk Universe.
• Compiled the Three-year Rolling Plan outlining the audit coverage outlook that includes the cycling of audits based on risk and expectations from management and the board.
• Formulated the Annual Audit Plan consistent with the business risk profile of the organization and taking into consideration management’s and the Board's risk coverage expectations.
• Ensured an effective alignment of the internal audit methodology and the Risk Management Framework to promote a common framework for identifying, assessing, documenting and communicating business risk.
• Assessed the overall governance environment and evaluated and recommended improvements to ethics policy, and developed guidance and training material to support the business courtesies and conflict of interest policies.
• Compiled and presented Audit Committee reporting packs.
• Designed and implemented internal audit systems and processes, conducted skills assessments and designed the associated governance structures and mechanisms for the Internal Audit department.
• Drafted internal audit policies and procedures in accordance with internal audit management requirements.
• Developed Risk-based Internal Audit engagement procedures manual, including standards, supplementary guidance material and standardised templates as a basis for the Internal Audit Quality Assurance and Improvement program.
Risk Management and Internal Control
• Developed and implemented the Integrated Risk Management policy and framework consistent with the organisations strategic direction, risk profile and risk appetite.
• Developed risk management processes to facilitate the identification, analysis, evaluation treatment and communication of risks.
• Drafted detailed guidance and standards to support the integrated risk management process covering risk categories, consequence, likelihood, and risk control effectiveness criteria.
• Developed Risk Matrices to classify the relative rankings of risks.
• Designed and compiled risk registers and provided guidance and training on effective and efficient control design to maximise compliance outcomes.
• Conducted control risk self-assessment workshops to facilitate the integration of risk management practices with functional processes.
• Drafted business continuity and risk management plans, and compiled risk reports reflecting the status of risk treatment plans.
• Provided internal control and risk management competency training to risk management champions to empower them as custodians of the risk management plan.
• Provided fraud awareness training and drafted fraud checklists to assist management with the early identification of potential areas of vulnerability and risk.
• Provided guidance on change management fundamentals to ensure that remediation plans achieved the desired results.
• Evaluated and recommended improvements to the Delegation of Authority alignment.
•Conducted entity-wide risk assessments and counselled, influenced and coached responsible management to implement and embed best business practice mitigating strategies and controls in their management processes.
• Compiled risk registers, drafted business continuity plans, and drafted risk reports reflecting the status of risk management plans to the Leadership Team.
• Conducted audits and control self-assessments, validating the design and operating effectiveness of business processes, controls and risk treatment plans.
• Coordinated self-testing programs by risk owners through monitoring activities.
• Drafted remediation notices to Management to document compliance deficiencies and followed up to ensure appropriate corrective action is accomplished.
• Carried out SOX Internal Financial Control periodic reviews, managed the monthly IFC control break register, and conducted workshops with Business Process Owners to review remediation progress of critical financial control breaks.
• Ensured that Management Representation Letters are completed, valid and approved for onward forwarding to Corporate Finance.
• Institute a Continuous Controls Monitoring (CCM) process and ensured that CCM dashboards are effectively utilised by process owners to identify and resolve control weaknesses.
• Prepared and submitted monthly internal control report to Chief Risk Officer.
• Developed and maintained a sustainable overall transformation policy and plan in support of the overall strategic direction.
Mar 2008 - May 2009 Financial Reporting And Compliance Manager
• Developed, implemented and managed processes to facilitate the efficient and effective preparation of quarterly, six monthly and annual financial statements in accordance with International Financial Reporting Standards (IFRS).
• Facilitated the resolution of internal control and audit related issues and managed the interim and year-end external audits.
• Interpreted and advised on the application of policies, procedures, directives and legislation to relevant stakeholders.
May 2007 - Feb 2008 Business Strategy And Planning Manager
• Developed, implemented and managed processes to drive the efficient and effective preparation and reporting of the Management Performance Scorecard.
• Drafted medium term business plans ensuring that all risks have been identified, evaluated and appropriately considered in the business plan.
• Evaluated the adequacy of core policies, procedures and systems and recommended an appropriate Corporate Governance Structure.
Jul 2004 - Apr 2007 Financial Accounting Manager
• Managed the financial accounting processes in alignment with financial policies, procedures and practices to ensure efficient and accurate month-end and year-end financial reporting. Specifically to include: Accounts Payable, Accounts Receivable, Fixed Assets, Inventory Accounting, Payroll Accounting, Cash Management and Financial Systems Control.
• Managed the department activities and performance management and ensured the execution of the outputs in line with the organisational plans and objectives.
Oct 2002 - Jun 2004 Internal Control Assurance and Compliance Manager
• Responsible for the accurate, complete and valid reporting of Regulatory Compliance expenditure.
• Conducted awareness training to promote, and contributed to the improvement of systems to deliver efficient identification of reportable matters and non-compliance to the Regulatory Compliance.
• Managed and monitored compliance to Delegation of Authority framework and performed annual review and calculations of the limits.
• Maintained effective relationships with Internal Audit, Compliance and Governance functions.
• Managed the Corporate Governance systems and structures.
• Conducted entity-wide risk assessments and ensured that financial risks are analysed, assessed and mitigated.
• Provided internal control training and developed and maintained Audit Findings Tracker and performed follow-up audits on previously reported audit findings ensuring that control deficiencies have been effectively remediated in accordance with agreed time frames.
Feb 2000 - Sep 2002 Senior Audit Advisor
• Provided an advisory service to the Internal Audit department to ensure best practice and maintenance of quality standards.
• Ensured that audit work product meets the requirements of the Standards for the Professional Practice of Internal Audit and assisted Audit Management with the preparation of the Management and Audit Committee Reports.
• Prepared and monitored the Annual Audit Plan, and represented Internal Audit at committee meetings and any other conference assignments.
• Managed, supervised and lead a broad spectrum of assurance services covering financial, operational, compliance and integrity audits.
• Undertook full responsibility for all phases of the audit project, to include engagement planning, execution of fieldwork, supervising assistant auditors, preparation of audit reports, and closing the audit project.
• Conducted Quality Assurance reviews to gain satisfaction that audit work product meets the department's quality standards requirements consistent with the International Standards for the Professional Practice of Internal Audit.
• Analyzed and investigated client feedback and implemented improvement plans.
• Lead a broad spectrum of assurance engagements, undertaking full responsibility for all for all phases of the audit project, to include engagement planning, execution of fieldwork, supervising assistant auditors, preparation of audit reports, and closing the audit project.
o Conducted audit project research and compiled the preliminary survey.
o Determined and agree audit scope and objectives with client management.
o Documented systems and performed control evaluations applying COSO Internal Control Framework.
o Applied business process analysis techniques (e.g. structure; workflow analysis; business risks; management control strategies; and bottleneck management) to identify inefficiencies and deliver value-for-money recommendations.
o Compiled Risk and Control matrices and designed risk-based audit programs.
o Determined the Audit Project resource requirements, completed the Audit Project Chart and drafted and distributed Client Engagement Letters.
o Developed and maintained sound client relationships and ensured effective client communication.
o Co-ordinated audit work schedules and tracked progress of audit projects.
o Effectively managed the audit project resources. Briefed and coached assistants on audit objectives, testing strategies and procedures, and time budgets.
o Executed the audit program ensuring sufficient, relevant and competent evidence is obtained to achieve the audit objectives. Reviewed and evaluated the work of sub-ordinates to gain satisfaction that audit objectives are achieved and that knowledge transfer and development objectives are met.
o Evaluated the validity, magnitude and impact of audit exceptions and conducted root cause analysis to determine underlying causes of problems and undesired events to formulate and agree remediation plans that would produce significant long-term performance improvement.
o Ensured that working paper standards are achieved and concluded on audit results.
o Co-developed, reviewed and agreed management remediation plans to ensure risks are effectively managed.
o Prepared and ensured audit reports are accurate, timely, and constructive including executive summaries and assigned overall audit ratings and opinions.
o Co-ordinated audit work schedules with external auditors and assisted with the preparation of submissions for Audit Committee reporting.
• Planned, performed, supervised and lead audits of financial statements in accordance with the PriceWaterhouseCoopers audit methodology.
• Developed strategic audit plans, documented and evaluated internal control systems, utilized propriety audit software to developed and apply efficient, risk-focussed audit programs.
• Liaised with client management; prepared management letters and progress reports; supervised, coached and developed assistant auditors.
Fraud Risk Management Fraud Investigation
Four year Bachelor degree with strong liberal arts and business management/commercial foundations, with majors in Accounting and Auditing. Completed 156 Semester Credits out of the required 125. ACTIVITIES 1/1992 – 5/1992 International Student Representative, Student Senate 4/1991 – 7/1991 Participant, UNICEF sponsored Agricultural and Housing Project, India 1/1990 – 12/1990 Vice President, Valparaiso University International Student Association 1/1989 – 12/1989 International Student Representative, Student Senate 8/1987 – 5/1992 Member, Valparaiso University International Student Association 8/1987 – 5/1992 Member, Valparaiso University Black Student Organization 8/1987 – 5/1992 Member, Valparaiso University Cross Country Team ACHIEVEMENTS/AWARDS 8/1987 – 5/1992 Valparaiso University International Student Scholarship • Covering tuition, room, board to complete four-year bachelor degree. 8/1987 – 5/1992 Institute of International Education Scholarship • Supplemental assistance to complete four-year bachelor degree. VALPARAISO UNIVERSITY Accreditations • North Central Association of Colleges and Schools (all programs). • Indiana State Department of Education. Major Affiliations • American Assembly of Collegiate Schools of Business (College of Business Administration). News/Highlights • Rated number 1 comprehensive institution in West and Midwest in a nation-wide survey by US News and World Report (October 1987). • Nicknamed ‘Little Harvard of the Midwest’.