Head of Internal Audit

Job Details

Key Accountabilities
1. Perform an Entity-wide (UAE) Risk Assessment, Audit Plan, Schedule and Budget for the UAE operations annually and the risk-based annual audit plan in coordination with and obtain approval of the Group Head of Internal Audit and the Head Internal Audit AK each year.
2. Develop audit schedules and plan activities in a manner which will ensure optimal value-for-money coverage.
3. Undertake a review of all Policies & Procedures Manuals prior to official releases to ensure that they incorporate all intuitional guidelines on controls, compliance and segregation of duties.
4. Evaluate the extent of compliance with established policies, procedures, control guidelines, regulations, statutes, Basel Committee and generally accepted accounting principles and banking practices to provide reassurance to General Manager and Group Head of Internal Audit (GHIA) about the quality of operating standards.
5. Review and assessing the adequacy of risk management practices in each operating area ensure that all relevant risks are adequately addressed so that the General Manager and Group Head of Internal Audit (GHIA) and Senior Management can be reassured that there will be no unpleasant surprises arising from poor risk management practices. Group Head of Internal Audit, the Head Internal Audit AK and the UAE senior management can be reassured that there will be no unpleasant surprises arising from poor risk management practices.
6. Review accuracy of financial reporting to Head Office to local and regulatory authorities (including business performance, quality of earnings and institutional benchmarks such as return on adjusted equity etc.), to ensure the integrity of reports submitted to HO and thereby mitigating the risks of misstatements in published financials.
7. Consolidate audit findings and conclusions into accurate, objective and comprehensive reports so that the General Manager, Group Head of Audit (GHIA) and the audit management can be apprised of the quality of operations at each unit.
8. Follow up on the status of outstanding audit issues at periodic intervals as may be requested by General Manager and Group Head of Audit (GHIA) and Country Manager in writing (with prior approval from GHIA & GM).
9. Maintain an ongoing program of updating work programs to ensure that audit practices incorporate most current methodologies.
10. Undertake special investigations when requested by the Group Head of Internal Audit, and the Internal Auditor AK France or the UAE management (with prior approval from GHIA).
11. Provide expert audit advice and ad hoc value-added services to the business/support units as may be requested by them from Internal Audit.
12. Examine the adequacy and effectiveness of internal control systems and procedures and provide recommendations to enhance its quality. Also ensure to discuss the recommendations with the respective department heads and obtain their responses and target dates of implementation

Education:

• Professional accounting, auditing qualification: Chartered Accountant (FCA), ACCA or equivalent, Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) would be an advantage.
• Hold a relevant degree from an internationally recognized university

Experience:

• Minimum 7 years of relevant Business, Credit, Governance and Operations audit in a multinational retail/ wholesale bank or leading Big 4 audit of which at least 5 years in audit managerial capacity. Conversant with Basel-II/III requirements, IFRS and IIA standards.
• Experience in managing people and working on/ or auditing multiple areas in banking will be an added advantage.
• Experience with modern, risk-based internal audit methodologies.
• Understanding in application of audit management software (ACL, Excel, Teammate etc.)