Senior Manager Internal Audit

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Date: Jun 22, 2022

Location: Budapest, HU, H-1103

Company: Wizz Air Hungary Ltd.

 

 

WELCOME TO THE WORLD OF OPPORTUNITY!

 

Wizz Air, the fastest growing European low-cost airline, operates a fleet of 145 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 10.2 million passengers in the financial year ending 31 March 2021. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, and a most sustainable company in the airline industry in 2021 by World Finance Magazine.

 

JOB TITLE: Senior Manager Internal Audit 

BASE: BUD - Office  

 

 

Purpose of the position:

 

The Senior Manager of Internal Audit has a special role in Wizz Air Group.

 

The main purpose of an Internal Audit is to provide independent, objective assurance and consulting services designed to add value and improve operations of all entities within the Group.  The function is equally important to lead the Enterprise Risk Management process for the Company including Climate-related risks.

 

The internal audit activity helps the whole Wizz Air Group accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of governance, risk management, and control processes.

 

The Internal Audit Senior Manager reports both to the Chief Financial Officer (administratively, within the Company) and to the Chairman of the Audit and Risk Committee (functionally). This duality in reporting lines is described in the Wizz Air Internal Audit Charter in detail, refer to that document.

 

 

Responsibilities:

 

  • Submit a risk-based internal audit plan for review and approval, at least annually, to senior management and the Audit and Risk Committee. 

 

  • Execute against the audit plan.  Manage priorities, resources, and changes and communicate them accordingly.

 

  • Communicate to senior management and the Audit and Risk Committee any significant findings and conclusion resulting from the execution of the internal audit plan.

 

  • Follow up on engagement findings and corrective actions, and report periodically to senior management and the Audit and Risk Committee on any corrective actions not effectively implemented.

 

  • Operate the ERM framework of the company. Submit, at least twice annually the ERM Board report of the company, review and update the risk universe, the residual risk evaluation and the risk mitigation action plans. Organize Risk Council meetings at least 3 times annually to work through the ERM for the Company.

 

  • Operate and enhance the Anti-Fraud Framework, submit, at least annually, to senior management and the Audit Committee a risk-based annual fraud risk assessment plan for review and approval.

 

  • Ensure each engagement of the annual fraud risk assessment plan is executed, including the establishment of objectives and scope, the assignment of appropriate and adequately supervised resources, the documentation of work programs and testing results, conducting investigations if necessary, and the communication of engagement results with applicable conclusions and recommendations to appropriate parties.
  • Follow up on anti-fraud findings and corrective actions, and report periodically to senior management and the Audit Committee any corrective actions not effectively implemented.
  • Operate and enhance the ICFR framework of the company. Ensure each engagement of the ICFR audit plan is executed, including the establishment of objectives and scope, the assignment of appropriate and adequately supervised resources, the documentation of work programs and testing results, conducting investigations if necessary, and the communication of engagement results with applicable conclusions and recommendations to appropriate parties.
  • Plan the resource need of all 4 above-mentioned frameworks. Lead and control the provided resources in order to ensure the completion of all the tasks of these frameworks.
  • Ensure conformance of the internal audit activity with the International Standards for the Professional Practice of Internal Auditing
  • It is very important that the Internal Audit is to govern itself by adherence to the mandatory elements of The Institute of Internal Auditors' International Professional Practices Framework, including the Core Principles for the Professional Practice of Internal Auditing, the Code of Ethics, the International Standards for the Professional Practice of Internal Auditing, and the Definition of Internal Auditing. The Internal Audit senior manager reports periodically to senior management and the Audit and Risk Committee regarding the internal audit activity’s conformance to the Code of Ethics and the Standards.
  • Furthermore, the Internal Audit Senior Manager reports periodically to senior management and the Audit and Risk Committee regarding: 
  • The Group’s internal audit activity’s purpose, authority, and responsibility.
  • The internal audit activity’s plan and performance are relative to its plan.
  • The internal audit activity’s conformance with The IIA’s Code of Ethics and Standards, and action plans to address any significant conformance issues.
  • Significant risk exposures and control issues, including fraud risks, governance issues, and other matters requiring the attention of, or requested by, the Audit Committee.
  • Results of audit engagements or other activities.
  • Resource requirements.
  • Any response to risk by management that may be unacceptable to Wizz Air.

Requirements:

 

  • Minimum Bachelor’s degree in Economics, Commerce, Finance or related discipline
  • Prior audit experience in a multinational company
  • Experience with enterprise risk management
  • Prior experience in auditing controls related to international service organizations’ financial, commercial and operational area
  • Strong written and verbal communication skills
  • Must have personal integrity, initiative and leadership qualities
  • “Can do” attitude with an internal drive for change and continuous improvement
  • Fluency in English
  • Full-time residency in Budapest, Hungary

 

 

 

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