Head of Internal Audit – Banking Institution – Nicosia, Cyprus 20 views

Job Overview

The Client: 

On behalf of our Client, a Banking Institution in Nicosia,  we are looking to recruit a Head of Internal Audit


The Position: 

The Head of Internal Audit will be responsible for developing and ensuring the implementation of the Annual Audit Plan.


Duties and Responsibilities: 

  • Preparing and submitting the Annual Audit Plan for approval to the BoD (through the BAC), which should be acting as a means of assessing the adequacy and effectiveness of the internal control framework
  • Ensuring that all activities of the Bank are audited at least once within an appropriate period of time
  • Developing and implementing an audit plan to be approved by the management body
  • Carrying out audit assignments on own initiative, through routine audits and special audits, both announced and unannounced, in all areas and functions of the Bank, including the Bank’s outsourced activities
  • Overseeing and ensuring successful employee on-boarding by providing training and development opportunities
  • Defining clear personal objectives, in line with the Bank’s strategy and departmental objectives
  • Maintaining an ongoing performance dialogue with team members through the effective use of Performance Management
  • Developing an Internal Audit Charter which shall include the purpose, standing and authority of the function and periodically being reviewed and approved by the management body.
  • Defining procedures for the coordination of the internal audit function with the external auditor
  • Reporting to the BoD through the BAC, at least on a quarterly basis, as well as providing recommendations for addressing any weaknesses identified
  • Preparing and submitting an annual report to the BoD, within two months from the end of each year, through the BAC, which will also be copied to the chief executive
  • Interacting with the Central Bank (CBC), ensuring covering the following topics, based on the results of the assessments
  • Monitoring and ensuring adherence to internal policies, practices and procedures
  • Overseeing and ensuring adherence to local and international regulatory requirements
  • Ensuring the timely reporting of any discrepancies/cases of non-compliance to the appropriate individual


Skills/ Qualifications/ Experience: 

  • Holder of a Professional Accounting Qualification such as Chartered Accountant (ACA) / Certified Accountant (ACCA) / Certified Public Accountant (CPA) / Certified Internal Auditor (CIA)
  • At least 10 years of relevant experience, including 5 years in an internal audit function of a banking institution.
  • Excellent knowledge of Greek and English languages, both verbal and written
  • Computer literacy
  • Knowledge of flexcube banking software and relevant local and international regulatory requirements (e.g. on compliance, anti-money laundering, information security and risk)



The position is for our Client’s offices in Nicosia, Cyprus



An attractive remuneration package will be offered to the successful candidate based to qualifications and experience.



Apply for this job