A leading local UAE Bank is recruiting for a Head of the Internal Audit to effectively manage the Internal Audit function of the Bank and its subsidiaries to ensure that it adds value by providing an independent, cost effective and efficient internal audit service to all lines of business and the Bank’s operations in the UAE.

Job Description:

– Develops and directs comprehensive program of audit assignments covering internal controls, risk management process, evaluating the quality of corporate and credit portfolios, credit management process, treasury and investment portfolios, administration and financial systems, human resources, I.T. banking services and Bank's subsidiaries, reliability of financial and management accounts, and investigation of sensitive and fraud related issues.
– Maintains a continuous and effective working relationship with Board Audit Committee, Chief Executive Officer and Senior Management to deal with current and pertinent issues relating to improvement of internal controls, governance and risk management processes within the Bank.
– Liaises with External Auditors, Central Bank Auditors to coordinate and discuss audit related issues and resolve audit observations
– Ensures that diverse audit engagements are performed in a systematic, disciplined approach and with proficiency and due professional care
– Ensures that auditors possess the knowledge, skills, and other competencies needed to perform their individual responsibilities, including sufficient knowledge to identify the indicators of fraud
– Ensures adequacy and effectiveness of internal control, risk management and governance processes within the Bank; includes being alert to the significant risks that might affect objectives, operations or resources
– Keeps the Board Audit Committee and Chief Executive Officer informed of the results of the audit and risk associated with Bank activities and services
– Establishes a comprehensive Audit Plan covering all the activities of the Bank, prioritizing the audit assignments based on a risk assessment, and scheduling of follow-up activities to carry out the responsibilities of the Group Audit, in an effective and efficient manner
– Directs the planning of individual audit assignments to ensure that professional standards are maintained. Counsels and guides auditors to ensure that the approved audit objectives are met and adequate coverage is achieved
– Provides policies, procedures and audit programs to guide the audit staff, in order that the objectives and technical aspects of the audit assignment can be met
– Ensures that internal auditors are properly supervised, performs audit/investigatory work with planned approach and within agreed time frames.
– Ensures alignment of Internal Audit activity with the IIA standards to ensure performance quality.
– Approves final audit reports to line management of unit under review, for taking corrective action. Keeps Board Audit Committee members and Chief Executive Officer informed of the results of audit activities within the bank
– Reviews the established systems for audit with pertinent laws and regulations, Central Bank Directives and Bank’s policies and procedures
– Reviews user related procedures/policies for improvement/sign-off, to ensure they provide for adequate and efficient internal controls to mitigate the associated risks.
– Advises Senior management on emerging risks and new developments in Governance, Risk and Control area
– Maintains an up-to-date awareness of the latest techniques and professional audit standards locally and internationally through participation in international audit forums and/or seminars
– Ensures that subordinates keep abreast of professional developments and monitors professional development programs for assigned employees
– Takes responsibility for coordinating internal & external audit efforts to ensure adequate audit coverage and to minimize duplicate efforts. This includes coordination with External Auditors and Central Bank Auditors
– Prepares staffing plans and financial budgets including the number of auditors and the knowledge, skills and disciplines required to achieve the approved plan
– Establishes a program for selecting and developing the human resources of the Internal Audit Department
– Manages the human resources capabilities of the Department. Determines Fosters the career development of employees, recommends decisions regarding promotion & termination of employees
– Facilitates Audit Committee meetings in conjunction with the Audit Committee Chairman and Board Secretary. Reports to the Audit Committee any audit, risk, fraud and control related matters that warrant Audit Committee attention
– Perform any other duties or responsibilities that are consistent with the role as assigned by management

Education:
– Graduate/ Post Graduate in Accountancy / Business Administration.

Professional / Technical Qualifications / Diplomas:
– Internationally recognized accounting/auditing qualifications like Chartered Accountant (FCA/ACA), CPA and CIA. Additional audit/banking qualifications such as CISA, CRMA, CFE, professional banking certifications such as ACIB, etc. are desirable.

Experience:
– Minimum 15 years auditing experience including 5 years in managerial position, with extensive knowledge and experience in all banking operations, corporate and retail credits, credit management process, information systems, human resources and other rules and regulations pertaining to banking industry