VP, Business Audit

The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain. 
 

The Group operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 130,000 acceptance points in the country as well as online payments.

Position Summary

Group Audit is an independent function within NETS Group that provides an objective assurance and risk advisory role. The primary purpose of the role is to provide an independent and objective audit service to NETS Group based on a systematic risk-based approach to ensure key risks in the organization are identified, recommended controls / action plans discussed, agreed and reported to senior management in a timely manner.

Group Audit reports directly to the NETS Group Board on all audit-related matters. The Board is assisted by the Audit and Risk Management Committee (ARMC) in fulfilling its responsibilities for financial reporting, internal control, risk management system, compliance framework and the audit process.

Group Audit reports directly to the NETS Group Board on all audit related matters. The Board is assisted by the Audit and Risk Management Committee (ARMC) in fulfilling its oversight responsibilities for the financial reporting, internal control, risk management system, compliance framework and the audit process.

Key Responsibilities

• The Head of Business Audit supports the Head of Group Audit in developing and implementing the audit initiatives and strategies. He/she will support the annual audit planning exercise and ensuring appropriate management and delivery of Internal Audit plan. As the Head of Business Audit, the individual is primarily accountable for business units’ risk assessment, devising appropriate and forward-looking audit strategy, roadmap, audit plan and oversee execution of audit assignments in his/ her portfolio.
• The Head of Business Audit provides leadership to and manages a team of business auditors to carry out reviews of business and operational processes. This includes leading and managing investigations as and when required.
• Ensures proper performance and quality of documentation during the audits.
• Works closely with the Professional Practices team to ensure adherence and full alignment with the Institute of Internal Auditor’s international auditing standards.
• Identifies and analyses risks associated with a range of business and operational processes and recommends best practice and effective controls. This includes providing risk advisory (outside assurance activities) for activities such as new projects/ product launches, BCM tabletop exercises, etc.
• Responsible for setting the overall audit objective, scope and approach. Establishes audit work programs to effectively evaluate business process and operations, based on best practices and regulatory requirements.
• Monitors the audit progress and performs review on the work performed by team members.
• Supervises and coaches team members and ensures audit work is adequately performed and documented.
• Responsible for accurate, quality and timely reporting. Ensure stakeholders are kept informed of the audit progress and issues arising.
• Ensures audit issue follow-up is adequately and timely performed and documented.
• Works closely with the Data Analytics team and business units in the implementation of continuous auditing/monitoring.
• Develops and maintains business relationships with senior levels of management, regulators and external auditors. 

Requirements

• Degree in Accountancy, Business or equivalent, preferably with professional certification (e.g., CA, CPA, CIA, ACAMS) qualification
• Minimum 12 years of external/internal audit experience
• Prior working experience in a Financial Institution and possessing knowledge of AML/CFT and application of data analytics will be beneficial
• Sound knowledge of internal control concepts and auditing techniques
• High level of integrity, drive and sense of urgency
• Independent and committed with high level of initiative and continuous improvement mindset
• Possess strong organisation skills and is performance oriented
• Mature and able to communicate effectively, both verbally and in writing
• Strong analytical and report writing skills
• IT Audit experience and understanding of technology risks and controls will be an added advantage

Network for Electronic Transfers (Singapore) Pte Ltd.