About the Role
Purpose of Position
The mandate of the Internal Audit Department is to assist the Management and the Board by providing independent and objective assurance that nbs is managed effectively, efficiently, and economically and in conformity with the applicable regulations and rules. The Internal Audit officer is responsible for providing advice, insight, and foresight through performing internal audits, evaluations, and other oversight assignments as appropriate.
Position Summary
The Internal Audit Officer is expected to work independently and is responsible for conducting thorough audits within the bank to ensure the effectiveness of internal controls, accuracy of financial records, and compliance with regulatory requirements. This role involves evaluating risk management processes, identifying areas for improvement, and providing actionable recommendations to enhance the bank’s governance and operational efficiency. The Internal Auditor will review the conclusions reached and the recommendations made by the incumbent.
Job Description
Position Primary Objective
To ensure audit assignments allocated are performed effectively and satisfactorily in accordance to annual audit plan and expectations.
Key Duties and Responsibilities
1. To assist in the development of annual audit plans and perform audit assignments more effectively and efficiently.
2. Conducts comprehensive audits of sensitive and complex nature covering major business units, operations and bank systems
3. Conduct monthly audit of loan files to ensure compliance with policies and effective implementation of credit processes.
4. Assess the adequacy and effectiveness of internal controls and risk management processes. 5. To perform audit assignments within a timely manner and recommend constructive action to improve systems of internal control.
6. Discuss with Internal Auditor the audit assignments to ensure objectives are achieved and audit findings and recommendations for improvement.
7. Prepare detailed audit reports with actual findings, implications and recommendations for respective Managers’ comments.
8. Conduct follow up audit and monitor the implementation of audit recommendations and corrective actions.
9. Attend to any special investigation directed and submit report as required on a timely manner.
10. Conduct surprised cash counts of all branches (including Savaii), vaults and caravans
11. Perform periodic checks of payroll and staff files to ensure filing and records are properly maintained and updated.
12. Assist in inspection and verification of fixed assets.
13. Provide support during external audits and regulatory examinations.
14. Assist in preparation of audit budgets and plans for the effective use of resources.
15. Any other duties as may be directed from time to time.
Requirements
Competencies
Professionalism: In-depth technical knowledge in the field of internal audit, risk management and internal control. Thorough knowledge of planning and conducting audits in accordance with the IIA Standards. Demonstrated professional competence and integrity. Ability to perform in depth analysis of business processes and systems using data analytics tools and presenting the results in a strategic manner. Demonstrated business acumen and strategic thinking. International outlook, character and integrity. Excellent communication to prepare reports to present audit findings, conclusions and recommendations effectively and adequately.
Teamwork: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others’ ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts in accordance with final group decision. Communication: Speaks and writes clearly and effectively; listens to others, correctly interprets messages from others and responds appropriately; tailors language, tone, style, and format to portrait professionalism and maintain confidentiality of audit findings. Planning and Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently.
Accountability: Takes ownership of all responsibilities and honors commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable.
Judgement/Decision-making: Identifies the key issues in a complex situation, and gathers relevant information before making a decision; considers positive and negative impacts of decisions prior to making them; takes decisions with an eye to the impact on others and on the Bank; proposes a course of action or makes a recommendation based on all available information; checks assumptions against facts; determines that the actions proposed will satisfy the expressed and underlying needs for the decision; makes tough decisions when necessary. Technical Knowledge of Audit Standards Audit frameworks, Audit standards, IIA and IFRS standards, Ability to work well with colleagues at all levels. Understanding of mandatory Acts and legislations that mandated nbs work.
Qualifications (Essential)
• Must have a degree or higher in Accounting, Economics, Banking or Finance
• Membership with the Samoa Institute of Accountants (Desirable) Experience (Essential)
• Minimum of 3 years of working experience in internal or external auditing or banking auditing
• Strong understanding and experience in the auditing standards, banking regulations, internal controls and risk management.
• Possess high level of integrity and professionalism. Personal Attributes
• All staff are expected to uphold nbs Values and Code of Conduct as Key Behaviours and to uphold a signed Oath of Secrecy in dealing with the bank information and operations. Confidentiality is crucial. Reporting, Supervision and Performance Evaluation
• Reports to the Internal Auditor
• Performance will be evaluated by the Internal Auditor, in consultation with Head of HR