Head of Internal Audit
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Description
Role Purpose
The Head of Internal Audit leads an independent, objective assurance and advisory function that helps the company protect and grow its business. The role provides the Board and Audit Committee with confidence that governance, risk management and internal controls across the fleet, shore operations and corporate functions are effective, and drives continuous improvement in how the company manages risk.
Key Responsibilities
Strategy and Governance
- Develop and maintain the internal audit charter, strategy and annual risk-based audit plan, and obtain Audit Committee approval.
- Maintain independence and direct, unrestricted access to the Audit Committee, with regular private sessions without management.
- Report audit results, key risks, trends and the status of remediation to the Audit Committee and senior management.
- Ensure the function operates in line with the IIA Global Internal Audit Standards and Malaysian regulatory and listing requirements where applicable.
Audit Execution
- Lead assurance audits across vessel operations, chartering and commercial contracts, procurement and supply chain, fuel and bunker management, dry-docking and maintenance, finance and treasury, HR and payroll, and IT systems.
- Conduct onboard and port-based audits, including travel to vessels and overseas locations as required.
- Perform special reviews and investigations, including suspected fraud, misconduct and whistleblowing matters.
- Assess anti-bribery and corruption controls, including Section 17A of the MACC Act, and related-party and conflict-of-interest risks.
Risk and Control Advisory
- Support the enterprise risk management framework by providing independent assurance on risk identification and mitigation.
- Advise management on control design for new systems, processes, contracts and business initiatives.
- Introduce a combined assurance approach with risk, compliance, legal, HSEQ and the external auditor.
Follow-Up and Reporting
- Track audit findings to closure, escalating overdue or high-risk items to senior management and the Audit Committee.
- Present clear, practical reports with root causes, impact and agreed action plans.
- Report periodically on the function's performance, resourcing and quality.
Technology and Innovation
- Use data analytics, continuous auditing and automation to widen coverage and improve audit quality.
- Review IT general controls, cybersecurity and data governance in coordination with IT and specialist co-source partners.
Requirements
- Bachelor's degree in Accounting, Finance, Business or a related field.
- Professional qualification such as CIA, ACCA, ICAEW, CPA, CA or equivalent. CISA, CFE or CRMA is an advantage.
- At least 10 years of relevant experience in internal audit, risk or assurance, including 3 years in a senior or head-of-function role.
- Experience in shipping, marine, oil and gas, logistics or other asset-intensive industries is strongly preferred.
- Working knowledge of corporate governance, COSO, enterprise risk management and the Malaysian regulatory environment.
- Experience reporting to an Audit Committee or board.