Position:	Independent Inspector of Financial Controls and Management
Unit:	Finance Department
Reports to:	Board of Trustees and/or the Audit Committee
Location:	Chattogram, Bangladesh

Position Summary

The Independent Inspector of Financial Controls will serve as an independent financial oversight authority responsible for evaluating the effectiveness of the University’s financial management, internal controls, financial governance, compliance, transparency, and accountability mechanisms. The role will focus exclusively on financial matters relating to both operational activities and capital construction projects.

A core responsibility of this position is to conduct detailed forensic reviews of financial transactions, contracts, procurement activities, payments, and related records to identify potential financial irregularities, misuse of funds, control weaknesses, fraud risks, conflicts of interest, or misappropriation of assets. The position will provide independent assessments and recommendations to strengthen financial controls and safeguard the University’s resources.

The position will operate independently of management and report directly to the Board of Trustees and/or designated Board Committee.

Main Responsibilities of the Job:

1. Financial Governance and Internal Controls

• Assess the effectiveness of financial management systems, internal controls, and financial governance practices across the University.
• Review the adequacy of policies and procedures related to budgeting, procurement, payments, banking, cash management, payroll, asset management, and financial reporting.
• Evaluate whether existing controls adequately protect University assets and resources.
• Identify weaknesses in financial controls and recommend corrective actions and process improvements.
• Monitor compliance with approved financial policies, delegated authority limits, and internal procedures.
• Assess the effectiveness of financial risk management practices and recommend enhancements where necessary.

2. Forensic Financial Review and Investigation

• Conduct in-depth forensic reviews of University expenditures, procurement transactions, contracts, vendor payments, reimbursements, payroll records, capital expenditures, and other significant financial activities.
• Examine the appropriateness, legitimacy, and supporting documentation of expenditures and payments.
• Review procurement and contracting processes to identify irregularities, conflicts of interest, collusive arrangements, over-billing, duplicate payments, unauthorized transactions, or other indicators of financial misconduct.
• Analyze payment methods, approval processes, vendor relationships, and financial transaction flows to identify weaknesses or potential abuse.
• Investigate unusual transactions, financial anomalies, or areas of concern identified by the Board, Audit Committee, donors, auditors, or management.
• Assess the risk of fraud, corruption, embezzlement, misappropriation of funds, asset diversion, or other financial misconduct.
• Review the adequacy of segregation of duties and authorization controls across financial processes.
• Recommend corrective actions, enhanced controls, policy changes, monitoring mechanisms, and risk mitigation measures to prevent recurrence of identified issues.
• Prepare independent forensic review reports outlining findings, supporting evidence, risk assessments, and recommendations.
• Assist the Board and Audit Committee in evaluating the financial implications of significant findings and the adequacy of management’s response.

3. Operational Financial Oversight

• Review operating budgets, expenditures, commitments, and financial forecasts.
• Evaluate financial performance against approved budgets and investigate significant variances.
• Assess the efficiency, effectiveness, and economy of resource utilization across departments and functions.
• Review compliance with donor agreements, grant requirements, and financial reporting obligations.
• Examine significant contracts, procurement, and financial commitments to ensure value for money and adherence to approved processes.
• Review banking arrangements, treasury management practices, and cash flow controls.

4. Construction Financial Oversight

• Independently review construction budgets, cost estimates, contract values, variations, and change orders.
• Monitor construction expenditures against approved budgets and funding availability.
• Assess payment certifications, contractor claims, retention balances, and cost-control mechanisms.
• Review procurement and tendering processes related to construction projects.
• Conduct detailed reviews of contractor payments, consultant fees, and project-related expenditures to verify legitimacy, accuracy, and compliance with contractual terms.
• Evaluate financial risks associated with construction activities and recommend mitigation measures.
• Ensure transparency and accountability in the management of capital expenditures and construction-related contracts.
• Report on project cost performance, budget overruns, potential savings opportunities, and financial risks.

5. Audit and Compliance

• Review the implementation of recommendations arising from internal audits, external audits, and prior financial reviews.
• Conduct periodic financial compliance reviews and risk assessments.
• Verify compliance with applicable accounting standards, regulatory requirements, donor conditions, contractual obligations, and Board-approved policies.
• Liaise, when necessary, with internal and external auditors regarding significant financial control matters.
• Recommend special audits or investigations where significant concerns are identified.

6. Reporting and Board Support

• Visit the University for a minimum of four (4) days each month to conduct reviews and meetings with relevant stakeholders.
• Inspector should produce and share a quarterly report of the findings and recommendations to the Board of Trustees highlighting financial risks, control weaknesses, compliance issues, forensic review findings, and recommendations.
• Present findings and recommendations to the Board of Trustees, Audit Committee, Finance Committee, or other designated governance bodies as required.
• Escalate significant financial irregularities, suspected fraud, control deficiencies, or governance concerns directly to the Board Chair and/or Audit Committee Chair.
• Follow up on implementation of recommendations and report on progress made by management.

Qualifications and Experience

• Qualified Chartered Accountant (CA) from a recognized professional accounting body (e.g., ICAEW, ICAS, ACCA, CPA, ICAB, or equivalent).
• Minimum of 15 years of progressive experience in external audit, forensic accounting, financial investigations, internal controls, risk management, or financial governance.
• Demonstrated expertise in forensic accounting, fraud detection, forensic audits, financial investigations, and examination of complex financial transactions.
• Extensive experience leading or conducting forensic reviews, special investigations, compliance reviews, or audit assignments for large and complex organizations.
• Strong experience in evaluating procurement processes, contract management, vendor payments, and expenditure controls.
• Experience reviewing major capital projects, construction contracts, and infrastructure-related expenditures.
• Strong understanding of accounting standards, auditing standards, fraud risk management, internal control frameworks, procurement controls, and financial governance practices.
• Experience working with universities, non-profit organizations, international development organizations, donor-funded institutions, or multinational organizations will be an advantage.
• High standards of integrity, objectivity, independence, confidentiality, and professional judgment.
• Strong analytical, investigative, interviewing, report-writing, and communication skills.
• Retired personnel are welcome to apply.

Reporting Relationship

The Independent Inspector of Financial Controls shall report directly to the Board of Trustees and/or the Audit Committee and shall maintain complete independence from University management in the execution of duties.

Engagement Structure

• Independent consultant or part-time engagement.
• On-site presence for a minimum of four (4) days per month.
• Unrestricted access to financial records, contracts, procurement files, payment documentation, accounting records, bank reconciliations, and other relevant information necessary to perform duties.
• Authorized to request explanations, supporting documents, and clarifications from relevant departments and personnel.
• Additional special reviews, forensic investigations, or assignments may be requested by the Board of Trustees or Audit Committee as required.

Compensation & other benefits: According to AUW policy.

To Apply:

Interested applicants should send the below mentioned documents,

1. Resume with attached photo and contact information
2. Cover Letter
3. NID/Passport
4. Copy of educational certificates
5. Three references

Please send the application addressing to hrd@auw.edu.bd. And mention the position applied on the subject line. The review of applications will begin immediately. Only short-listed candidates will be contacted.