Internal Audit Director
Location:
Casablanca, Morocco
Description
Africa50 is an infrastructure investor and multi-vehicle asset manager that contributes to Africa's growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact.
Africa50 mobilizes funds not only from African states and international financial institutions, but also from institutional investors such as pension and sovereign wealth funds, insurance companies and other private sector entities. It operates as a commercial financial institution, seeking to provide an attractive return to investors.
Africa50’s investor base is currently composed of 32 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib, with over US$895 million in committed capital. Its inaugural institutional investors-backed fund vehicle includes the Africa50-Infrastructure Acceleration Fund which raised US$222.5million at its first close from African institutional investors (including AfDB) and the IFC.
Africa50 has its headquarters in Casablanca. It enjoys all immunities and privileges attributable to International Financial Institutions.
PURPOSE OF THE ROLE
The Director of Internal Audit will take a lead role in the establishment and oversight of the internal audit function to ensure comprehensive internal control processes are effectively integrated within the organization. This role focuses on strategic audit planning, audit execution, and delivering actionable insights in pursuit of a robust internal control environment and operational efficiency.
PRINCIPAL RESPONSIBILITIES
The Internal Audit Director will have the following responsibilities:
Lead the establishment of an insourced internal audit function, including building an internal audit team, and developing an internal audit charter and procedures aligned with the overall vision and strategy.
Collaborate with key stakeholders, including the Audit Committee, Africa50 Senior Leadership Team and the Risk department, to develop a risk-based pluri-annual audit plan and consider its on-going relevance on a continuous basis.
Lead and implement audit assignments as per the audit plan approved by the Audit Committee.
Assess the robustness and adequacy of Africa50's processes and the effectiveness of internal controls
Prepare and present audit findings and actionable recommendations arising from audit assignments to Africa50’s Senior Leadership Team and the Audit Committee.
Track the status of recommendations raised during the course of internal audit work and confirm the implementation of recommendations and the efficacy of improvements to controls and new controls implemented to address audit findings and recommendations.
Stay abreast of industry practices and knowledge to continuously improve the internal audit function.
Develop and manage the internal audit budget, ensuring optimal use of resources while collaborating with the risk management team on shared initiatives.
Act as designated Internal Audit Director for Africa50’s fund-like structures or platforms as determined on a case-by-case basis.
CANDIDATE PROFILE
At least a Bachelors’ degree in Accounting, Finance, Business Administration or a related field. Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Master’s degree or MBA preferred
Minimum 15 years’ experience in internal audit, risk, internal control and compliance of which at least 6-8 years at a management level
Strong communication skills (both oral and written); with proven exposure to senior leadership and Audit Committees
Effective stakeholder management and negotiation skills;
Ability to lead and influence at all levels
Strong analytical skills
Proficiency in audit related systems and data analytics
Good time management, project management, analytical skills
Self-starter, independent
Strong knowledge of audit methodologies and standards
In-depth experience with knowledge and understanding of risk management within an investment fund or corporation or a similar entity
Sensitivity for balancing risk management with business opportunities
Proficiency in evaluating controls through established frameworks
Fluent in English. French is a plus
Strong relationship to Africa - whether it be origin or a demonstrated long-term interest/commitment. Existing relationships in Africa are a plus
Location
The position will be based in Casablanca.
Application
If you are interested in this position,
