Department/Unit: Internal Audit 

Date of Issuance: February 20, 2025 

Deadline of Applications: March 19, 2025

Required Languages: English 

Contract Type: Fixed Term Contract

Grade: Management 

Job Category: H2

Recruitment Status: International

Job Profile

The Chief Auditor provides strategic guidance to the Internal Audit Function by providing independent, objective, and insightful risk-based assurance and advice to senior management and the audit and risk committee, all in accordance with the institutional strategy and framework and the OPEC Fund’s frameworks for governance, on the design and effectivness of risk management and internal control frameworks, in order to protect and enhance the value of OPEC Fund and its operations.

Duties and Responsibilities

Functional strategy formation & implementation

• Provides strategic guidance and oversees the Internal Audit Unit.
• Develops and directs the implementation of an annual risk-based audit workplan for final approval by the Governing Board.
• Ensures Internal Audit achieves established objectives and fulfills its mandate in alignment with OPEC Fund’s overall strategic direction and the Internal Audit Charter.

Audit management

• Oversees the quality of work and timely delivery of Internal Audit workplan by supervising audit engagements, reviewing and approving audit reports, and confirming engagement workpapers adequately support findings, conclusions, and recommendations. 
• Maintains a recommendations’ tracking system which is used to monitor and follow up on the implementation of audit recommendations and management action plans.
• Supports and advises the governing bodies and Senior Management in the execution of their duties through advisory services.
• Regularly updates Internal Audit Charter and Internal Audit Manual and its supporting methodologies to guide Internal Audit staff in performing audit services.

Leadership and staff supervision

• Creates and leads multi-disciplinary audit teams and ensure the overall quality of its work.
• Manages the performance of audit teams and individual auditors providing clear direction and regular monitoring and conducting performance evaluations.
• Provides coaching and mentoring to audit teams and individual auditors and ensure their continuous learning and professional development in internal audit and emerging risks, topics, and leading technologies.
• Anticipates requirements for and efficiently manages the budget, resource allocation and utilization for the Unit.

Stakeholder management and engagement / Board relationship

• As member of the Senior Management team, interacts with the members of the OPEC Fund Board and actively participates in the Governing Board Meetings, as well as chairing/ participating in related committees/ meetings
• Builds and maintains relationships with the OPEC Fund’s Audit and Risk Committee, President and Management.
• Ensures cooperation and coordination with the Fund’s External Auditors.

Reporting

• Leads regular reporting to the President and Audit and Risk Committee the activities of the Internal Audit function, including summaries of recent audits and implementation progress of audit recommendations.
• Perform any other related duties as assigned by the President and Audit and Risk Committee.

Qualifications and Experience

• Master’s degree in business administration, finance, controlling, accounting, law, or a (closely) related field. 
• Certified Internal Auditor from internationally- recognized Institute of Internal Auditors. 
• Other related professional certifications e.g. Certified Fraud Examiner, Certified Information Systems Auditor, Certified Information Security Manager, Chartered Financial Analyst, Certified Public Accountant, Chartered Accountant, ACCA. 
• A minimum of 15 years of progressively relevant experience and 5 of which at management level.
• Preferably, five years of experience in an international environment, preferably in development financial institutions.
• Fluent in English. Good working knowledge of Arabic, French, German or Spanish is an added advantage.

Leadership Competencies

• Leadership & People Management - The ability to guide and empower team members effectively; cultivate a positive work climate; delegate tasks skillfully and nurture team members' growth. 
• Results Orientation - The ability to set ambitious targets for self and the team; drive progress toward objectives; initiate actions to achieve desired outcome, 
• Creativity, Initiative & Innovation - The ability to nurture novel concepts and inventive approaches; take calculated risks to foster innovation; identify chances for process enhancements and expansion. 
• Trustworthiness, Ethics & Governance -The ability to act with integrity and transparency; safeguard confidentiality; demonstrate ethical decision-making and interactions; to adhere to organizational regulations and ethical benchmarks, foster a culture of compliance and strong governance; ensure team members understand and adhere to protocols. 
• Business Alignment - The ability to align team objectives and undertakings with broader organizational aims; make decisions contributing to the organization's strategic direction.