Our client is a leading multi-jurisdictional online trading and brokerage group. We are seeking an experienced and highly independent Group Head of Internal Audit to establish, lead, and continuously enhance the Group Internal Audit function across all subsidiaries and jurisdictions.
The role will be based in Cyprus with travel to group subsidiaries as required.
- Functionally reports to the Board Audit & Risk Committee (BARC)
- Administratively reports to the Group Chief Executive Officer
The role will be responsible for providing independent and objective assurance to the Board and senior management on the effectiveness of the Groups:
Governance framework
- Risk management processes
- Internal control environment
- Regulatory compliance
- Operational effectiveness
The successful candidate will play a key role in supporting the institutionalization of the Group, strengthening internal control frameworks, and ensuring alignment with international best practices including the IIA International Professional Practices Framework (IPPF) and relevant regulatory expectations across the jurisdictions in which the organisation operates.
The Internal Audit function operates as the third line of defence, providing independent assurance over the effectiveness of the first and second lines of defence (business management and risk/compliance functions).
KEY RESPONSIBILITIES
Internal Audit Strategy & Governance
- Develop and implement the Group Internal Audit Strategy aligned with the Groups risk profile and strategic priorities.
- Establish and maintain the Group Internal Audit Charter, policies, and methodologies in accordance with IIA standards.
- Build a risk-based internal audit plan covering all group entities, business lines, and critical functions.
- Present the annual audit plan for review and approval by the Board Audit & Risk Committee (BARC).
- Ensure the Internal Audit function undergoes periodic external quality assessments in accordance with IIA standards.
- Ensure effective monitoring and follow-up of audit findings and management action plans.
Assurance & Risk Oversight
- Provide independent assurance on the adequacy and effectiveness of the Groups internal control framework.
- Evaluate the effectiveness of risk management processes, including enterprise risk management practices.
Conduct audits covering key areas including:
- Financial controls
- Trading and brokerage operations
- Technology and cybersecurity controls
- Regulatory compliance
- Treasury and liquidity management
- Operational processes
- Subsidiary oversight and group governance
- Client asset safeguarding and client money controls
- Best execution governance and order routing controls
- Trade surveillance and market abuse monitoring frameworks
- Liquidity provider and counterparty risk management
- Margining, leverage, and exposure management controls
- Client onboarding, KYC, and AML operational processes
Regulatory & Compliance Oversight
- Ensure that internal audit activities reflect the regulatory expectations in jurisdictions where the Group operates (e.g., ADGM, FCA-equivalent environments, and other relevant regulators).
- Coordinate with regulators and external auditors when required.
- Provide independent assessment of compliance with regulatory requirements and internal policies.
Technology & Cyber Risk Assurance
- Oversee audit coverage of IT governance, cybersecurity controls, and digital infrastructure.
- Review the adequacy of controls over trading platforms, digital assets, and payment infrastructure where applicable.
- Coordinate with technology leadership to ensure appropriate control frameworks are in place.
Reporting & Board Engagement
- Report directly to the Board Audit & Risk Committee on internal audit matters.
- Present audit findings, control weaknesses, and remediation progress to the Committee and senior management.
- Provide periodic reporting on:
- Audit plan execution
- Key risk observations
- Emerging risks
- Control maturity across the Group
Building the Internal Audit Function
- Establish and lead the Group Internal Audit team, including recruitment and development of audit professionals as the function grows.
- Implement internal audit tools, methodologies, and data analytics capabilities.
- Promote a strong culture of accountability, transparency, and control awareness across the Group.
- Introduce data-driven audit techniques including continuous monitoring, automated control testing, and advanced analytics over trading, treasury, and operational datasets.
QUALIFICATIONS
- Bachelors degree in Finance, Accounting, Business Administration, or related field.
- Professional certifications such as CIA, CPA, ACCA, or equivalent strongly preferred.
- Additional certifications in risk management or IT audit (e.g., CISA, CRMA) are advantageous.
EXPERIENCE
- Minimum 12 years of relevant experience in internal audit, risk, or regulatory oversight.
- At least 5 years in a senior leadership role leading an internal audit function within a financial services institution.
- Experience within brokerage, financial services, fintech, or trading environments is highly desirable.
- Demonstrated experience interacting with Board Audit Committees and regulators.
KEY COMPETENCIES
- Strong understanding of corporate governance frameworks
- Expertise in risk-based internal audit methodologies
- Ability to engage confidently with Board members and senior executives
- Strong analytical and investigative skills
- High level of integrity, independence, and professional judgment
- Experience working in multi-jurisdictional organizations
PERSONAL ATTRIBUTES
Independent mindset with strong professional ethics
- Strategic thinker with the ability to translate risks into actionable insights
- Strong leadership and team-building capabilities
- Excellent communication and stakeholder management skills
ADDITIONAL INFORMATION
The Group Head of Internal Audit will play a critical role in strengthening the Groups governance and control environment as the organisation continues its organizational transformation and institutional development.
The position requires regular engagement with the Board Audit & Risk Committee, senior leadership, and potentially key regulators across the Groups operating jurisdictions.