Head Of Internal Audit

Summary

Join AJ Bell as their Head of Internal Audit, leading the Internal Audit function through assurance reviews and independent consulting. You will ensure the function provides effective, independent assurance of risk management, governance, and internal control processes. Manage the Internal Audit co-source partner relationships and leverage subject matter expertise. As Head of Internal Audit, you will be an FCA authorized person performing the SMF5 function. This role requires significant experience in a senior audit role within regulated financial services, relevant professional qualifications, and strong leadership and communication skills. AJ Bell offers a comprehensive benefits package, including a competitive salary, bonus scheme, pension plan, and various other perks.

Requirements

• Possess significant professional experience in a senior management level audit role within a regulated financial services environment
• Hold relevant professional qualifications/accreditations, e.g. ACA/ACCA/IIA/CFA/FRM
• Have experience working closely with Audit Committees and Boards
• Demonstrate strong knowledge and understanding of UK regulated financial services and FCA requirements
• Possess effective people skills to lead, manage and develop an Internal Audit team
• Have the ability to develop strong relationships with management and other stakeholders
• Demonstrate critical thinking and problem-solving skills
• Possess effective communication skills, both written and verbal
• Be action-oriented with a strong focus on getting things done

Responsibilities

• Ensure the effectiveness and independence of the Internal Audit function
• Ensure Internal Audit Plan performance, meeting key objectives and activities
• Maintain the integrity of all Internal Audit information, controls, and processes
• Ensure financial efficiency and value for money from the Internal Audit function
• Execute properly the responsibilities of the SMF5 function
• Continuously improve and develop the Internal Audit function
• Develop and deliver an Annual Internal Audit Plan, for review and approval by the Audit Committee
• Consider outputs from the Business Planning process, including review of key risks, SWOT analysis and plans for each business area when developing the Annual Internal Audit Plan
• Consider current and prior year’s Internal Audit topics, coverage, and findings when developing the Annual Internal Audit Plan
• Consider the outputs from the Combined Assurance Model (CAM) and the findings from reviews conducted by the first- and second-line assurance functions when developing the Annual Internal Audit Plan
• Consider input from the co-sourced provider(s), particularly regarding the external landscape when developing the Annual Internal Audit Plan
• Consider any guidance, or other publications, from the FRC or FCA setting out their expectations of Internal Audit functions when developing the Annual Internal Audit Plan
• Consider the guidance and recommendations from the Chartered Institute of Internal Auditors when developing the Annual Internal Audit Plan
• Discuss potential areas of importance with members of the Board and senior management team when developing the Annual Internal Audit Plan
• Determine which audit reviews will be conducted by the in-house team, the co-sourced provider, or a combined team
• Execute audits and produce final reports, setting out findings and agreed management actions, for review by the Audit Committee
• Ensure a consistent focus on deep dives into key business processes, utilizing cross-functional resources
• Proactively identify weaknesses in controls across the business
• Monitor and validate the completion of agreed Internal Audit actions, escalating as required
• Provide an annual report to the Audit Committee on the effectiveness of the Internal Audit function
• Provide effective and independent oversight of the first and second lines of defence
• Oversee the CAM and report annually to the Audit Committee on its effectiveness
• Ensure any gaps in the CAM are covered where the Audit Committee is unable to gain assurance elsewhere
• Deliver additional support or expertise to enable the Audit Committee to fulfil its role
• Support the business in achieving its regulatory requirements, including Consumer Duty
• Benchmark AJ Bell’s risk management and control frameworks against peers and make recommendations for improvement
• Conduct horizon scanning for future risks
• Provide review and challenge to change projects
• Actively engage with management to support improvements in systems and controls
• Oversee the recruitment, engagement, reward, retention, performance, and development of staff
• Select and manage co-sourced Internal Audit resource providers
• Prepare and manage Internal Audit budgets
• Attend Executive Risk Committee (ERC) and Operational Committee (OpCo) meetings

Preferred Qualifications

• Have professional experience and good working knowledge of pensions or investment management
• Have prior experience performing the SMF5 function

Benefits

• Starting holiday entitlement of 28 days, increasing up to 31 days with length of service and a holiday buy and sell scheme
• A choice of pension schemes with matched contributions up to 8%
• Discretionary bonus scheme
• Annual free share awards scheme
• Buy As You Earn (BAYE) Scheme
• Health Cash Plan – provided by SimplyHealth
• Private healthcare scheme and dental plan
• Free gym membership, with an on-site gym providing a wide range of free classes
• Employee Assistance Programme
• Bike loan scheme
• Sick pay+ pledge
• Enhanced maternity, paternity, and shared parental leave
• Discounted nursery fees at Kids Planet on Exchange Quay
• Loans for travel season tickets
• Death in service scheme
• Paid time off for volunteer work
• Charitable giving opportunities through salary sacrifice
• Calendar of social events
• Parking at Exchange Quay (subject to availability)
• Ongoing technical training
• Professional qualification support
• Talent development programmes
• Peer recognition scheme, with rewards including restaurant and shopping vouchers or time off
• Monthly leadership breakfasts and lunches
• Hybrid working