We look forward to receiving applications for the position of Group Internal Auditor reporting to Jo Oakley, Group Financial Accountant, in Colchester.
Main Purpose of Role:
In order to maintain our corporate governance procedures, we wish to appoint a Group Internal Auditor.
Reporting to the Group Reporting Accountant and ultimately to the Group Financial Controller and Group CFO, the primary responsibility of the role will be to organise and execute an internal audit programme covering the Group’s operations on a cyclical basis. The role will also involve participation in group financial reporting at times of peak load, external audit liaison and ad hoc investigative projects for senior management.
Main Duties & Responsibilities:
The Group operates through c.30 sites in Europe, USA and Asia including c.15 manufacturing sites. The internal audit programme will concentrate on the Group’s main manufacturing entities, but will also be expected to achieve good coverage on a cyclical basis of the smaller sales-based entities. Assistance to execute the programme may be provided by short-term ad hoc secondment of finance staff from the companies operating entities; this can also provide experience for those staff to future career development.
As a guide, the successful applicant will be expected to spend c60% of their time undertaking assignments in other countries. Visits will mainly be of 3 to 5 days duration. Most of the Group’s European locations can be easily reached from either London Stansted or City Airports. Long haul travel to entities in Asia and USA will be required on several occasions each year. The remainder of the person’s time will normally be spent in the Colchester office planning future assignments, finalising visit reports and participating in the general departmental workload. Applicants will therefore enjoy foreign travel and be excited by the opportunity to interface with colleagues of many different cultures. As the Group’s operating language is English, there is no particular language requirement.
The core responsibility will cover both financial and operational audits:-
(a) Financial Audits
It is expected that the programme will cover all entities on a cyclical three year basis. These audits will comprise reviews of internal controls and systems and balance sheet audits. For our larger manufacturing entities, audits will be focused on specific areas, again on a cyclical basis, but with a particular focus on credit controls, costing systems and inventory valuation. For smaller sales-based entities, coverage on each visit will be more comprehensive and include a complete balance sheet review. For these entities a grasp of the basic structure of commercial contracts is desirable.
The Group’s accounting policies are based on IFRS. The position will require a basic working knowledge of these accounting standards, but not a specialist capability. The required knowledge will tend to be focused in the areas of revenue recognition, long term contract accounting, inventory valuation and bases of liability provisioning. The applicant’s experience may be of UK GAAP or US GAAP rather than IFRS.
(b) Operational audits
This area of the job responsibilities will enable the successful applicant to add value to the business by identifying opportunities for cost reduction or enhanced efficiency in processes. Such projects may include review of process cycles covering such areas as order processing, procurement, production flow and sales invoicing.
(c) Ad hoc Projects
It is more difficult to predict the nature of participation in special projects but these will include logistic analysis, supporting M&A activity, by review and follow up of external due diligence reports, and investigation of any contractual disputes or litigation in which the Group may be involved.
Additional Duties, Responsibilities & Measurements:
(a) liaison with the external auditors and entity controllers to ensure an appropriate response to external audit findings and to enable external audit to leverage internal audit work;
(b) enhancement of corporate governance and controls including maintenance of the Group’s authorisation policy;
(c) assisting the Group Finance team during the year end closing process and at other peak times.
Person Specification/Profile
o The successful candidate is likely to be a qualified accountant (ACA, ACCA or ACMA) with a degree or relevant experience and some previous exposure to auditing, whether external through the accounting profession or internal. However, a part-qualified applicant with strong manufacturing experience will be considered.
o They will need sufficient knowledge of the various approaches to internal audit to be able to devise and present their own programme prepared following a risk-based assessment of our various entities to the Group Controller and/or CFO for agreement.
o The successful candidate will be independent of mind, have sound judgement and the ability to adapt rapidly to different environments.
o It is also important to possess the strength of personality to gain the co-operation of entity staff in providing required information so that assignments are completed on time and with the minimum opportunity for disagreement on conclusions.
o They will have a personality that will engender confidence and trust in those they are auditing.
o They will also be able to communicate diplomatically and economically, both verbally and in writing, at all levels in the organisation from main board down.
o Experience in Excel, Word and Powerpoint will be necessary to complete the role, any previous experience working with Hyperion would be useful but not essential.
o Driving license essential
Development Opportunities
A successful period in the above role would qualify the incumbent for promotion to a significant finance role in one of the group’s main subsidiaries (dependent on language and mobility) or to move to another role within the Group Finance team.
This job description is not regarded to be totally exhaustive of all duties and activities required by the post. The
post is subject to the needs of the business and will develop and change in line with prevailing market
conditions, competition and development of the territory.
Anyone wishing to apply for this position should contact the HR department for an internal application form. All applicants must inform their line manager if they progress with an application. The closing date for all applications is Wednesday 1st October 2014 2014.
Visit the Flakt Woods Ltd website for more information on Group Internal Auditor