JOB SUMMARY 

The Internal Audit Manager is responsible for the accurate conduct of audits to assess the effectiveness of controls, policies, and governance processes, the accuracy of financial and nonfinancial records, and the efficiency of operations within each department. He/she must ensure compliance with accepted Auditing Standards, Risk Management Policies, and provide independent, objective assurance and advisory services. The Manager will lead prudent and deliberate risk assessments, conduct thorough investigations where irregularities are identified, and make strategic, unbiased recommendations for mitigation and system improvement.

RESPONSIBILITIES

Planning

• Audits under the direction and planning of the Audit Committee of the Board andfollowing Generally Accepted Auditing Standards

• Ensures that the recording of transactions complies with Management policies and procedures

• Develops and maintains a structured audit risk template to identify high-risk areas for prioritized audits.

• Leads pre-audit risk assessments and tailors audit scopes based on identified risk factors, including emerging risks and strategic objectives.

• Establishes audit objectives, scope, and criteria using risk-based methodologies.

Financial/Budgetary

• Reviews and evaluates financial controls to ensure that risk exposure is minimized.

• Conducts fraud risk assessments and implements procedures for early fraud detection and prevention.

• Ensures financial statements are prepared following International Financial Reporting 

Standards.

• Ensures that departments use their budget allocations appropriately and prudently.

• Ensures that there are no omissions from the summary of the Financial Statements.

• Develop risk control frameworks and ensure implementation within each Department

• Ensures the assets of the TFCL are adequately covered and protected.

• Ensures a proper fixed asset register is maintained, all investment instruments are verified, the accuracy of all schedules of balances in the Financial Statements, the bank and other account reconciliations.

• Ensures in all material respects that the financial statements of the Commission, along with all the necessary supporting source documentation, present a true and fair view of its financial activities and position.

• Recommends improvements to budgetary controls that mitigate financial misstatement or misuse.

Departmental

• In collaboration with the HR Unit, assists in the training and development of junior staff.

• Performs in-depth corporate risk assessments using an approved and robust risk management framework (e.g., ISO 31000, COSO ERM).

• Investigates anomalies and suspected fraudulent or non-compliant activity with methodical, well-documented processes.

• Analyzes data obtained, for evidence of deficiencies in internal controls, extravagance, fraud, or lack of compliance with the TFCL’s policies and procedures, policies and guidelines, government regulations, laws and International Auditing Standards

• Interviews employees to ensure that the recording of transactions complies with the TFCL’s policies, management plans and established policies.

• Identifies root causes of control failures and recommends sustainable corrective actions.

• Monitors the implementation of audit recommendations and evaluates their effectiveness in mitigating identified risks.

• Prepares investigative reports with findings, risk impact, and recommended disciplinary or control actions.

• Coordinates with legal, compliance, and HR units on sensitive investigations to ensure consistency and confidentiality.

• Performs other related duties as requested or assigned.

ACCOUNTABILITIES

• Ensuring timely and complete risk assessments are conducted and documented for all key business areas.

• Ensuring investigative activities meet internal standards for ethical and moral standing, objectivity, confidentiality, and evidence preservation.

• Providing an accurate report on the policies, programmes and activities of the department to the Audit Committee of the Board when requested.

• Maintaining professional membership during the period of employment and attaining and reporting to the HR Unit on full CPD points.

AUTHORITIES

• Determines departments or operations to be audited and the timing and frequency of audits

• Makes decisions within his/ her scope of work

• Decides whether an irregularity, based on its materiality, should be investigated to determine fraudulent practices 

• Coordinates audit activities with external auditors

SPECIAL REQUIREMENTS

• Willing to work overtime, public holidays and weekends as requested by the Chief 

• Reports to the Audit Committee of the Board & the Chief Executive Officer or any other duly authorized officer.

KNOWLEDGE, SKILLS AND ABILITIES

• Proven experience in conducting risk-based audits and forensic investigations.

• In-depth understanding of enterprise and event risk management frameworks and internal control systems.

• Skilled in root cause analysis, fraud investigation techniques, and data analytics for risk identification.

• Excellent attention to detail is required to identify inconsistencies or errors in the audit testing process.

• Proficiency in the use of Microsoft Office Suite.

• Familiarity with Accounting and Auditing computerized applications

• Excellent analytical and diagnostic skills to analyze and interpret complicated, highly technical information and utilize this knowledge to recommend improvements in internal controls, systems, risk management and governance processes

• Ability to gather, analyse and evaluate facts and to prepare and present concise oral and written reports

• Current knowledge of developments related to business matters of interest to internal audit, particularly legislation changes and developments and new auditing techniques and practices

• Knowledge of industry-specific risks, compliance requirements, and control frameworks.

• Strong judgment in assessing materiality, risk exposure, and when to escalate findings.

TOOLS & METHODOLOGIES

• Familiarity with audit management software (e.g., TeamMate, CaseWare, AuditBoard).

• Proficiency in using data analytics tools (e.g., ACL, IDEA, Power BI) for risk detection and control testing.

• Working knowledge of investigative protocols and digital forensics tools is an asset.

CREDENTIALS AND EXPERIENCE

~ Must be a member of a professional body such as the ACCA, CPA, ICATT or CGA 

~ Must possess a Professional Certification in Auditing.

~ A minimum of eight (8) years of Auditing experience, five (5) of which must be in a senior management capacity.

~ A member of the Institute of Internal Auditors and/ or of the Institute of Chartered Accountants of Trinidad and Tobago.

~ Previous experience in a similar environment would be an asset