Vice President (VP), Internal Audit

A vice president (VP) of internal audits usually holds a leadership position for a large corporation. They work with managers and auditors to address financial and operational issues and help the managers to overcome these problems. The vice president of internal audit oversees various audit-related processes in the company and provides objective evaluations. Then, they help other departments come up with ideas to improve these processes. The vice president of internal audit usually has a team of auditors to whom they delegate tasks.

The objective of a vice president of internal audit is to detect flaws and improve them, making operations more efficient. They must also make sure that the various departments within the company are adhering to corporate policies and the law. The vice president of internal audit must create reports detailing audit findings, as well as issue certifications for compliance and compliance training. They may also be responsible for hiring members of the auditing team.

This position generally requires extensive related experience, as well as at least a bachelor's degree in a related field. Because this is a management position, relevant management experience might be necessary. Knowledge of internal auditing software and the interpretation of law is essential. This position is generally full time and takes place in an office setting, although it may require travel to the company's various operational areas.

As a Vice President VP, Internal Audit with 6-9 years of experience in Singapore, your main responsibilities include:

• Oversee and manage the internal audit function, ensuring compliance with regulatory requirements and organizational policies. Develop and implement audit plans, methodologies, and tools to assess the effectiveness of internal controls.
• Coordinate and lead internal audit engagements, including risk assessment, planning, fieldwork, and reporting. Conduct detailed and objective audits of financial statements, business processes, and operational activities.
• Collaborate with senior management and key stakeholders to identify areas of improvement and recommend process enhancements. Provide strategic advice and guidance to enhance risk management practices and internal control frameworks.
• Monitor audit findings and recommendations, track action plans, and facilitate the timely resolution of issues.

For the Vice President (VP), Internal Audit job role, the following qualifications are required:

• Extensive experience in conducting internal audits and risk assessments to ensure compliance with established policies, procedures, and regulatory requirements.
• Strong knowledge of financial accounting principles, auditing standards, and internal control frameworks to develop and implement effective audit strategies.
• Excellent leadership and team management skills to oversee a team of auditors and guide them in conducting thorough and objective audits.
• Effective communication and interpersonal skills to collaborate with key stakeholders, including executive management and external auditors, to address audit findings and provide recommendations for improvement.

The role of Vice President VP, Internal Audit is crucial for maintaining effective internal controls within an organization. With 6-9 years of work experience in Singapore, professionals in this field have several alternative career paths to consider. Here are following alternative roles worth exploring:

• Chief Compliance Officer: A position that involves overseeing and ensuring compliance with applicable laws, regulations, and internal policies throughout the organization.
• Risk Manager: A role focused on identifying and assessing potential risks that may impact the organization's objectives and implementing strategies to mitigate or manage those risks effectively.
• Operations Director: This role involves overseeing and optimizing the operational processes and functions within the organization to improve efficiency and achieve strategic objectives.
• Business Development Manager: A position that involves identifying new business opportunities, building strategic partnerships, and developing growth strategies to expand the organization's market presence.

The role of Vice President (VP), Internal Audit in Singapore is predicted to experience significant growth in the coming years. As per a 10-year analysis, this position is expected to witness a strong upward trend in the job market. With the increasing importance of internal audit in organizations, the demand for professionals in this role is projected to rise consistently. The future holds many employment opportunities for individuals seeking to pursue a career as a VP, Internal Audit in Singapore.