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 9+ years of experience in the AE, your main responsibilities include:

• Develop and implement comprehensive internal audit plans to evaluate the effectiveness of the organization's risk management, control, and governance processes.
• Lead and manage a team of auditors, providing guidance, training, and support to ensure the completion of high-quality audit projects.
• Conduct risk assessments and identify areas of potential vulnerability or non-compliance, recommending and implementing corrective actions.
• Communicate audit findings and recommendations to senior management and the Audit Committee, ensuring the timely resolution of identified issues and continuous improvement of internal controls.

The role of Vice President VP, Internal Audit is crucial for maintaining effective internal controls and ensuring compliance within an organization. With 9+ years of experience in the AE, professionals in this field can explore various alternative roles. Here are four options to consider:

• Chief Risk Officer CRO: A strategic role responsible for identifying and managing risks across the organization, developing risk management strategies, and ensuring regulatory compliance.
• Compliance Manager: A position focused on ensuring adherence to industry regulations and internal policies, conducting audits, and implementing risk mitigation measures.
• Business Process Improvement Manager: A role that involves analyzing existing processes, identifying areas for improvement, implementing changes, and optimizing operational efficiency.
• Director of Internal Controls: A position responsible for establishing and maintaining effective internal control systems, conducting risk assessments, and providing recommendations for improvement.

The Vice President (VP) of Internal Audit role in the United Arab Emirates (UAE) is expected to witness significant growth in the market. Over the past 10 years, there has been a steady increase in demand for professionals in this role due to the emphasis on corporate governance and compliance. With growing complexities in business operations, the need for internal audits has become vital, driving the demand for VPs of Internal Audit. Looking ahead, the job role is projected to continue growing, with numerous employment opportunities anticipated in the future. Google's latest data points affirm the positive outlook for this position in the UAE.