Job Description and Requirements
POSITION TITLE: Internal Audit Manager
CATEGORY: Professional
WORK TYPE: Full time
DEPARTMENT: Internal Audit Department
REPORTS TO: Board of Directors
PLACE OF WORK: Istanbul, Türkiye
CONTRACT DURATION: 3 years
JOB DESCRIPTION AND OBLIGATIONS SUMMARY
The Turkic Investment Fund (TIF / Fund) aims to become a catalyst for socio-economic development and integration of the Turkic countries, and a flagship organization for the promotion of sustainability, intra-regional trade and connectivity via investments across various sectors with a focus on debt financing, equity investments, and other structured/hybrid financial instruments.
The Internal Audit Manager will be responsible for establishing and leading the internal audit activities of the newly established Fund, laying the foundations for a robust system of internal assurance and control. The role is central to safeguarding the integrity, transparency, and accountability of the institution by ensuring that internal control systems, governance structures, and risk management frameworks are designed, implemented, and operating effectively.
In this capacity, the Internal Audit Manager will provide independent and objective evaluations of the Fund’s operations, policies, procedures, and internal control mechanisms, measuring their adequacy against both international standards and the Fund’s own mandate. The position will require a proactive approach in identifying systemic weaknesses, recommending corrective actions, and monitoring follow-up on implementation, with the aim of enhancing operational efficiency, safeguarding assets, and ensuring the prudent use of the Fund’s resources.
The Internal Audit Manager will report directly to the Board of Directors, thereby ensuring an institutional line of accountability that is independent from the President’s Office and the Executive Management. This reporting line reinforces the independence, impartiality, and objectivity of the Internal Audit Department, enabling the Internal Audit Manager to act without undue influence from the President’s Office and the Executive Management. In practice, this means providing the Board of Directors with candid assessments of the Fund’s risk exposure, compliance posture, and internal governance processes, while engaging constructively with the President’s Office and the Executive Management on the implementation of audit recommendations.
By maintaining full independence from the President’s Office and the Executive Management as well as aligning with international standards such as the International Professional Practices Framework (IPPF) of the Institute of Internal Auditors (IIA), the Internal Audit Manager will help the Fund build stakeholder confidence, strengthen governance practices, and ensure that the Fund’s operations remain consistent with its mandate, values, and long-term objectives.
MAIN DUTIES AND RESPONSIBILITIES:
- Develop and implement the Internal Audit Charter, methodology, and annual internal audit plan in alignment with the IPPF of the IIA and other relevant good practices. Ensure that the internal audit universe covers all critical functions and that the internal audit plan is riskbased, prioritizing areas of highest exposure to financial, operational, reputational, and compliance risks.
- Conduct financial, operational, compliance, and information and communication technologies audits across all business lines, administrative and support functions, and strategic initiatives of the Fund. Apply systematic and disciplined approaches to evaluate the reliability and integrity of financial reporting, the safeguarding of assets, efficiency of operations, and compliance with applicable laws, regulations, and internal policies.
- Assess the effectiveness of internal controls, governance structures, and risk management frameworks, identifying gaps, vulnerabilities, and opportunities for strengthening the Fund’s capacity to manage risks. Evaluate whether governance processes support the achievement of the Fund’s strategic objectives, promote accountability, and reflect sound decisionmaking.
- Provide actionable recommendations for process improvements, risk mitigation, and stronger internal controls that are practical, costeffective, and aligned with international good practices. Ensure that recommendations are not only corrective but also forward-looking, helping the Executive Management and the Board of Directors anticipate emerging risks and evolving regulatory requirements.
- Report internal audit findings to the Board of Directors. Present clear, objective, and evidencebased reports that highlight key risks, control weaknesses, and recommended actions. Maintain a transparent and constructive relationship with both the Board of Directors, the President’s Office and the Executive Management by monitoring the status of corrective measures and providing regular updates on implementation progress.
- Ensure compliance with applicable institutional policies, procedures, Host Country regulations, and international standards, providing assurance that the Fund is operating within its legal and regulatory mandates, as well as in line with shareholder and stakeholder expectations.
- Collaborate closely with external auditors and peer International Financial Institutions’ (IFI) internal audit functions, facilitating effective coordination, informationsharing, and reliance on internal audit work where appropriate. Act as a key liaison in external assurance engagements and inspections, reducing duplication and ensuring a unified approach to internal audit and compliance oversight.
- Maintain professional independence, objectivity, and confidentiality in all internal audit activities, operating in strict adherence to the IIA’s Code of Ethics. Ensure that internal audit work is conducted without conflicts of interest, undue influence, or interference from the President’s Office and the Executive Management, thereby safeguarding the credibility and impartiality of the Internal Audit Department.
- Advise the Executive Management on emerging risks, internal control enhancements, and governance practices, drawing on insights from international standards, peer IFI practices, and industry trends. Act as a trusted advisor to the Fund while preserving internal audit independence, providing valueadded input that supports a culture of continuous improvement and risk awareness.
- Manage internal audit resources effectively and build the capacity of the internal audit function over time. Develop robust and risk based internal audit methodologies, tools, and systems that enhance internal audit coverage and efficiency, and prepare the Internal Audit Department to meet the growing complexity of the Fund’s operations as it scales.
EDUCATION AND PROFESSIONAL QUALIFICATIONS:
- Bachelor’s university degree in Accounting, Finance, Auditing, or related field. A master’s degree in a relevant field, or an equivalent qualification, is highly desirable.
- Professional certification such as CIA, CISA, CPA, ACCA, or equivalent is highly desirable.
- Knowledge of IPPF of IIA is required.
- Strong understanding of investment and lending processes, financial management, risk management, internal control, and governance frameworks as applied in IFIs.
- Knowledge of IFRS, Internal Control over Financial Reporting (ICFR), antifraud standards, compliance frameworks, and emerging audit practices relevant to IFIs.
- Knowledge of widely recognized frameworks and standards including the COSO Internal Control Integrated Framework, COSO Enterprise Risk Management (ERM) Framework, Sarbanes-Oxley Act (SOX) compliance requirements, as well as familiarity with COBIT for IT governance and controls, and other relevant.
EXPERIENCE:
- At least 10 years of progressively responsible experience in internal audit, preferably in financial institutions or IFIs.
- Proven experience in planning, executing, and reporting on audits in line with international standards and industry norms.
- Experience in dealing with the Board of Directors, Boardlevel Committees and Executive Management on internal audit issues.
- Proven track record and handson experience with IFI operations, project financing, and treasury activities are highly desirable.
SKILLS AND COMPETENCIES
- Excellent knowledge of internal audit standards and best practices, lending and investment activities, financial management, risk management, and internal controls.
- Strong analytical and problemsolving skills, with ability to make sound professional judgments.
- Excellent reportwriting and communication skills in English; knowledge of other languages of Member States is an asset.
- Ability to work independently with the highest degree of integrity, objectivity, and confidentiality.
- Strong organizational and time management skills to handle multiple priorities under pressure.
- Proven ability to interact effectively with diverse stakeholders in a multicultural environment.
- Exceptional interpersonal and communications skills, with the ability to present complex internal audit findings in a clear and accessible manner to nontechnical audiences, including senior leadership with varying levels of technical expertise.
