Independent Director for Audit and Internal Controls
Spain·Public-Interest & Regulated Services·Regulated services companies· Madrid·Posted 25 September 2026
Applications close 23 November 2026
Regulated services companies
Partner-sourced
Sourced through a partner search firm or the sponsor's own nomination committee, and verified before listing.
The problem this seat exists to solve
A regulated services company wants stronger board scrutiny of financial controls, operational risks and assurance findings. This director will help management and the board build a clearer picture of material exposures and ensure remediation does not remain open indefinitely.
Follow the risk through to remediation
1. Review the completeness of the risk register and whether controls address the business’s most consequential exposures.
2. Challenge internal audit coverage, independence and prioritisation against the organisation’s risk profile.
3. Scrutinise financial reporting controls, procurement exceptions and related-party processes.
4. Track overdue findings and require evidence that remediation has changed the underlying process.
Assurance relationships
You will coordinate with auditors and other assurance functions through approved governance channels.
This is a nonexecutive appointment. The director contributes through the chair to collective board decisions and oversight; management retains responsibility for execution.
What effective oversight will produce
- First quarter: identify gaps between principal risks, control ownership and assurance coverage.
- Within six months: agree a committee reporting format that distinguishes overdue actions from verified closures.
- Within twelve months: assess the effectiveness of control improvements and the quality of escalation to the board.
Experience expected
The role requires board or senior assurance experience in regulated organisations, financial literacy and demonstrated competence in internal control and risk oversight.
Additional useful experience includes relevant audit qualifications and experience working with corporate governance structures in the appointment jurisdiction; any specialist statutory appointment requires separate eligibility confirmation.
Service commitment
An initial three-year appointment is envisaged, with approximately eighteen to twenty-four days annually for meetings, preparation and committee work. Start date, remuneration, travel and on-site attendance will be agreed for the appointment.
Terms
- Where the board sits
- Madrid, Spain
- Applications close
- 23 November 2026
- Appointment
- Board appointment
- Engagement
- An initial three-year appointment is envisaged, with approximately eighteen to twenty-four days annually for meetings, preparation and committee work.
- Cross-border
- International candidatures are accepted.
- Time commitment in this market
- Typically 9–12 board meetings a year plus committees; Spanish boards meet more often than the European average.
Before you apply — Spain
No nationality or residency test applies to a Spanish director. What constrains the board is the statutory 40% requirement, the twelve-year independence limit and the classification the company must publish.
- Residency test
- None.
- Nationality test
- None.
- Work authorisation
- A non-executive director attending board meetings requires no authorisation. Executive roles for non-EU nationals require a work and residence permit.
- Tenure limit once appointed
- Twelve continuous years — a statutory limit under LSC art. 529 duodecies, not a code recommendation. Beyond it a director may not be classified as independent.
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