Internal AuditorMeralco Employees Savings & Loans Association Inc. (MESALA)

Job Description
POSITION OVERVIEW:
To provide independent, objective assurance and consulting services designed to add value and improve the Association's operations. The scope of Internal Audit covers the assessment of the adequacy and effectiveness of the Association's governance in the following areas:
a. Risk management process;
b. System of internal control structure;
c. Quality of performance in carrying out assigned responsibilities to achieve the Association's objectives.
DUTIES AND RESPONSIBILITIES:
1. Preparation of Annual Audit Business Plan using appropriate risk-based methodology, which includes risks or control issues identified by Management
2. Periodic reporting and updating of audit reviews conducted to Audit Committee
3. Implementation of approved Annual Audit Plan and Reporting of Audit Results
a. Conducts periodic independent appraisal of the different units across the organization to determine adequacy of internal controls, compliance to policies, procedures, regulatory requirements and adherence to overall financial goals and objectives.
b. Submission of audit results and recommendations to Management and Audit Committee
c. Conducts interviews with Officer/Staff of units audited
d. Identifies critical issues/violations for immediate reporting which may require special investigation
e. Conducts clarification and closing meetings with auditee to discuss audit findings and recommendations on control measures to mitigate risks and improve operational efficiency and profitability
f. Documentation of audit and walk-through procedures, process flow, other analytical/substantive procedures and results of verification
g. Preparation, submission and reporting of Audit Report to the Audit Committee & Board of Trustees.
4. Preparation and updating of Audit Manual
5. Participates in strategic projects (i.e. data & systems automation) to ensure adequacy and effectiveness of security and control
a. Participates in the conceptualization, design, and implementation of new systems to ensure that critical processes have adequate controls and provide sufficient audit trail
6. Assist and conducts investigation of suspected fraudulent activities and irregularities identified and reporting of results to Audit Committee & Board of Trustees
7. Evaluates newly created or revised policies and procedures as to the adequacy of controls and audit trail
8. Keeping the Audit Committee abreast and informed of emerging trends and best practices in internal auditing
9. Considering the scope of work of the external auditors and regulators, as appropriate, for the purpose of providing optimal audit coverage to the Association at a reasonable cost.
10. Participation in special projects and committees as requested by Management and the Audit Committee
11. Preparation of Internal Audit annual goals (KPIs) and budget.