JOB DETAIL
Head of Internal Audit, China
Location: China
Other Location: Shanghai
Salary: Extremely competitive with attractive benefits package
Sector: Consumer Goods / Services
Job Reference: MWDR1
Recruiter Name: Renaix
Recruiter Type: Consultancy
Date Posted: 14 November 2008
Country / Company Background:
Our client is a leading US consumer goods multinational and China is its fourth largest market in the world.
Position Background:
This role is responsible for the audit of company operations in China and will serve as the Development Manager for staff. Accountabilities include oversight for the planning and execution of audits of key processes within various business operations and functional areas. The position exercises significant judgment in working with audit teams towards assessing risk within the business environment as also identifying internal control findings and the associated potential financial/ operational impact. The position is responsible for the overall coordination, communication and negotiations with internal clients, including senior finance management. The position works with clients in determining cost effective improvements and corrective actions to address identified issues. The position oversees the summarization of audit findings and conclusions that are included within reports to senior management and to the Audit Committee of the Board of Directors
This role was established in China 2 years ago in response to the growing size of the business and the legal requirement of Sarbanes-Oxley (SOX) in the USA. In 2006, the Company purchased an additional business, significantly enhancing the size of company owned bottling operations within China. Further, the Division was selected as one of the pilot countries to perform the self assessment for the SOX and full scope internal audit. The Company therefore decided to establish a team of locally based auditors, headed by the Audit Manager, reporting directly to the Director – Corporate Audit, who in turn reports to the Chief Auditor.
Whilst the team will work primarily in China, there will be opportunities to work on other international assignments from time to time.
Career Prospects:
The Corporate Audit Department serves as a talent pool for the Company. The incumbent’s long term growth potential is highly regarded. After working 3 or more years in the department, the incumbent will develop a good understanding of the business, the control environment and financial expertise. Working with various functions of the organization and different people including senior management also helps cultivate the soft skills needed for the incumbent’s further growth – communication, planning, teamwork, leadership, etc.
Function Objectives:
• To lead a highly motivated team of professionals within the department
• To provide thought leadership to the Audit team, towards ensuring control re-assurance of a high quality
• To provide leadership to a risk-based audit process
• To demonstrate excellent hands-on audit capability, where necessary
• To support implementation and adherence to the Company's Code of Business Conduct and other Company Policies and Procedures, Chart of Authority and Segregation of Duties
• As a by-product of the audit process, scan for opportunities towards enhancing efficiency/value delivery in the company operations, and share the same with operating company management
Position Responsibilities:
• Develop, implement and monitor an annual risk-based audit plan
• Manage and perform periodic audits at Company locations to verify internal control systems, Company policies and procedures and propose practical solutions to address audit findings
• Work closely with the finance and other departments in the Organization with a common goal of achieving efficient and effective control systems
• Co–ordinate and help in the implementation of a risk-based audit process
• Arrange training for Audit Associates to ensure adequate skill & knowledge capability within the audit function to meet business requirements
• Ensure that audit staff are exposed to at least one international audit project each year
• Assist in development of audit processes and tools for greater audit efficiencies and to meet the changing requirements of the business
Essential Knowledge & Skills required for the Position:
• A team leader with exceptional interpersonal skills
• Excellent communication skills in English and Chinese, written and oral
• A highly pro-active, disciplined, organized and objective individual with a sense of urgency
• General consumer marketing awareness
• A professional with the highest standards of integrity and a mature approach towards job responsibilities; high degree of independence and objectivity in carrying out audit assignments
• A professional who can maintain confidentiality related to the process of Audit
Other Abilities and Dimensions:
• Demonstrate ability to manage, develop and motivate people effectively.
• A team builder and a source of guidance to the team members
• Proactive, with sound general business knowledge
• Excellent planning, analytical and organizational skills
• Ability to appreciate the ground realities in operations and to sensitively convey observations and practical recommendations to auditees
• Capacity to manage people from diverse cultures
• Demonstrate ability for self-development and growth within the Organization
• Capacity to handle heavy work volumes and multiple priorities
Education
Qualified Accountant. An MBA would be an added advantage
Experience
Proven experience of which a minimum 2-3 years preferably should be as an Audit Manager in an FMCG company with an ERP environment. Alternatively, a Senior Manager / Consultant in a Big-4 Professional Firm, with internal audit experience
Travel
25 to 50%
Our client is a leading US consumer goods multinational and China is its fourth largest market in the world.
Position Background:
This role is responsible for the audit of company operations in China and will serve as the Development Manager for staff. Accountabilities include oversight for the planning and execution of audits of key processes within various business operations and functional areas. The position exercises significant judgment in working with audit teams towards assessing risk within the business environment as also identifying internal control findings and the associated potential financial/ operational impact. The position is responsible for the overall coordination, communication and negotiations with internal clients, including senior finance management. The position works with clients in determining cost effective improvements and corrective actions to address identified issues. The position oversees the summarization of audit findings and conclusions that are included within reports to senior management and to the Audit Committee of the Board of Directors
This role was established in China 2 years ago in response to the growing size of the business and the legal requirement of Sarbanes-Oxley (SOX) in the USA. In 2006, the Company purchased an additional business, significantly enhancing the size of company owned bottling operations within China. Further, the Division was selected as one of the pilot countries to perform the self assessment for the SOX and full scope internal audit. The Company therefore decided to establish a team of locally based auditors, headed by the Audit Manager, reporting directly to the Director – Corporate Audit, who in turn reports to the Chief Auditor.
Whilst the team will work primarily in China, there will be opportunities to work on other international assignments from time to time.
Career Prospects:
The Corporate Audit Department serves as a talent pool for the Company. The incumbent’s long term growth potential is highly regarded. After working 3 or more years in the department, the incumbent will develop a good understanding of the business, the control environment and financial expertise. Working with various functions of the organization and different people including senior management also helps cultivate the soft skills needed for the incumbent’s further growth – communication, planning, teamwork, leadership, etc.
Function Objectives:
• To lead a highly motivated team of professionals within the department
• To provide thought leadership to the Audit team, towards ensuring control re-assurance of a high quality
• To provide leadership to a risk-based audit process
• To demonstrate excellent hands-on audit capability, where necessary
• To support implementation and adherence to the Company's Code of Business Conduct and other Company Policies and Procedures, Chart of Authority and Segregation of Duties
• As a by-product of the audit process, scan for opportunities towards enhancing efficiency/value delivery in the company operations, and share the same with operating company management
Position Responsibilities:
• Develop, implement and monitor an annual risk-based audit plan
• Manage and perform periodic audits at Company locations to verify internal control systems, Company policies and procedures and propose practical solutions to address audit findings
• Work closely with the finance and other departments in the Organization with a common goal of achieving efficient and effective control systems
• Co–ordinate and help in the implementation of a risk-based audit process
• Arrange training for Audit Associates to ensure adequate skill & knowledge capability within the audit function to meet business requirements
• Ensure that audit staff are exposed to at least one international audit project each year
• Assist in development of audit processes and tools for greater audit efficiencies and to meet the changing requirements of the business
Essential Knowledge & Skills required for the Position:
• A team leader with exceptional interpersonal skills
• Excellent communication skills in English and Chinese, written and oral
• A highly pro-active, disciplined, organized and objective individual with a sense of urgency
• General consumer marketing awareness
• A professional with the highest standards of integrity and a mature approach towards job responsibilities; high degree of independence and objectivity in carrying out audit assignments
• A professional who can maintain confidentiality related to the process of Audit
Other Abilities and Dimensions:
• Demonstrate ability to manage, develop and motivate people effectively.
• A team builder and a source of guidance to the team members
• Proactive, with sound general business knowledge
• Excellent planning, analytical and organizational skills
• Ability to appreciate the ground realities in operations and to sensitively convey observations and practical recommendations to auditees
• Capacity to manage people from diverse cultures
• Demonstrate ability for self-development and growth within the Organization
• Capacity to handle heavy work volumes and multiple priorities
Education
Qualified Accountant. An MBA would be an added advantage
Experience
Proven experience of which a minimum 2-3 years preferably should be as an Audit Manager in an FMCG company with an ERP environment. Alternatively, a Senior Manager / Consultant in a Big-4 Professional Firm, with internal audit experience
Travel
25 to 50%
