Find out the top 10 core skills you need to master as an internal audit and risk senior manager and what hard skills you need to know to succeed in this job.
An Internal Audit and Risk Senior Manager is accountable for validating the checks from the fundamental perspective of the business by evaluating the adequacy and effectiveness of the Firms internal controls using a risk-based methodology that is developed from professional auditing standards. This position reports directly to the Board Audit Committee.
Main duties includes monitoring the firm's compliance with internal guidelines that are set for risk management and monitoring, developing strong knowledge on operational risk as the primary focus, assisting in the completion of the audit plan supporting market, credit and liquidity risk, communicating with the senior management and the Board Audit Committee, providing recommendations for improvements.
Core Skills Required to be an Internal Audit and Risk Senior Manager
Core skills describe a set of non-technical abilities, knowledge, and understanding that form the basis for successful participation in the workplace. Core skills enable employees to efficiently and professionally navigate the world of work and interact with others, as well as adapt and think critically to solve problems.
Core skills are often tagged onto job descriptions to find or attract employees with specific essential core values that enable the company to remain competitive, build relationships, and improve productivity.
An internal audit and risk senior manager should master the following 10 core skills to fulfill her job properly.
Written Communication involves the interaction that makes use of the written word with precision and logic making it the very common form of business communication.
An Internal Audit and Risk Senior Manager must necessarily learn and stay updated on effective written communication skills that involve the construction of a logical argument, note taking, editing and summarizing as well as incorporating new ways of writing presentations.
Presentation Skills are useful in getting your message or opinion out there in many aspects of life and work, though they are mostly used in businesses, sales, teaching, lecturing, and training.
An Internal Audit and Risk Senior Manager must develop the confidence and capability to offer excellent presentations and captivate the audience when the need arises; it requires a lot of preparation to stand out from the crowd, and a manager should be willing to invest in it.
Judgment is the ability to make a decision or form an opinion wisely especially in matters affecting action, good sense and discretion.
An Internal Audit and Risk Senior Manager must be a person of good judgment with the ability to make the right decision at the right time and for right reasons especially in prioritizing the work correctly to focus on a few important things and ensure excellent results are delivered.
Motivating is using persuasion, incentives and mental or physical stimulants to influence the way people think or behave individually or in groups.
An Internal Audit and Risk Senior Manager ought to learn how to tap into the employee's enthusiasm as well as motivate the staff not just with money but with a motivation that comes through the daily relationship with each employee and creating an environment that fosters employee engagement and motivation.
Team Building represents various types of activities used to enhance social relations and define roles within the different teams at the workplace.
An Internal Audit and Risk Senior Manager ought to provide team building activities to his team to cultivate better communication, morale, motivation, productivity and help employees know each other better as well as their strengths and weaknesses to be used in building a better workplace.
Management Skills are also known as leadership skills and involve planning, decision making, delegation, time management and time management to ensure optimum organization in focus and the technical of how and why of accomplishing tasks.
An Internal Audit and Risk Senior Manager must understand the business organization, finance, and communication as well as the market and the relevant technologies used to help manage everyone as they work together in a group.
Cooperation with colleagues:
Cooperation is the process of working with groups or teams for a common mutual benefit as opposed to working in competition or for selfish ambition.
An Internal Audit and Risk Senior Manager should learn the art of creating a mutually beneficial exchange among the employees that dwells much on cooperation for the same mutual benefit with adequate resources for all to use rather than creating a spirit of competition.
Personal Relationships is the relationship between individuals who have or have had a continuing relationship of any nature either professional or informal.
An Internal Audit and Risk Senior Manager reserves the right to take prompt action if an actual or potential conflict of interest arises concerning individuals who engage in a personal relationship that may affect terms and conditions of employment and he should not also date a subordinate.
Seeing Potential Problems:
Seeing Potential Problems is the ability to structure the current situations and identify developments that could cause problems in the future.
An Internal Audit and Risk Senior Manager needs to see potential problems before they occur and work to stop them early enough, he also has to stay ahead of the flow not to be caught you by upcoming issues that could be easily prevented if they were noted soon enough.
Research is the ability to stay updated on the latest trends in different fields as per your concern or the concern of your company or business.
An Internal Audit and Risk Senior Manager ought to stay up to date on the latest trends in hiring, leading, retention, technology and much more by using the newest research methods that allow him to make better decisions and improve productivity.
Hard Skills Required to be an Internal Audit and Risk Senior Manager
Hard skills are job-specific skill sets, or expertise, that are teachable and whose presence can be tested through exams. While core skills are more difficult to quantify and less tangible, hard skills are quantifiable and more defined.
Hard skills are usually listed on an applicant's resume to help recruiters know the applicant's qualifications for the applied position. A recruiter, therefore, needs to review the applicant's resume and education to find out if he/she has the knowledge necessary to get the job done.
An internal audit and risk senior manager should have a good command of the following hard skills to succeed in her job.