Head – Risk Management Compliance and Operations Audit - Internal Audit

Job Purpose

Lead preparation and execution of Annual Risk Based Audit Plans for assigned areas. Among others, these include the following specific areas:

• Credit, Operational and Market Risk Management
• Regulatory Compliance
• Financial Crime Compliance
• Retail, Wholesale and Treasury Backoffice operations
• Payments and Accounts Management services
• All regulatory mandated review in the areas of Risk, Compliance and Operations

• Lead and perform semi-annual risk assessments of audit entities.
• Lead the team to Perform risk-based audits, investigations, and consultancy assignments. Apart from assigned areas under Risk Management, lead, support or participate in other audits as required, from time to time.
• Prepare audit reports and ensure completeness of documentation on Audit Management Software (Teammate).
• Perform continuous auditing of assigned areas/ product specialization.
• Work with management on plans to mitigate risk.
• Support CAE in preparation of Board and Management committees’ presentations.
• Conduct periodic follow up exercise and review closure of open Internal Audit and CBUAE observations.
• Mentor and train junior staff on best practices and enhance their skills in conducting audit assignments.

Principal Accountabilities IA Strategy

• IA strategic plan aligned with the BAC vision and the Bank’s strategic plan.

Policies and Procedures

• Contribute to of IA policy and procedure development
• Implement IA’s policies and procedures

Audit Plan

• Complete the risk assessments.
• Support the CAE in preparing annual audit plans.
• Implement annual audit plans.

People Development

• Commitment to teamwork and staff development
• Assess the knowledge and skill requirements for the Internal Audit team and propose training plans to CAE.
• Share with team members latest updates on IIA and Central Bank standards and best practices

Independence & Conflict

• Avoid conflict of interest.
• Maintain independence

Audit Issues

• Ensure audit issues clearly articulate criteria, conditions, root causes and risks.
• Ensure management actions address both symptoms and root cause.
• Follow up on audit recommendations till effective closure.

Audit Reports

• Ensure audit reports clearly explain the control environment rating.
• Deliver Quality Audit reports in a timely manner.
• Communicate audit results to Auditees

Audit Documentation

• Ensure that documentation on Teammate is complete.

Continuous Audit & Aligned Assurance

• Ensure framework for continuous auditing covers critical risk areas.
• Ensure team members are performing the monthly reviews and results are escalated

Assurance Role

• Provide reasonable assurance over compliance with rules, regulations, instructions and laws issued by competent authorities.
• Evaluate and improve the effectiveness of risk management and internal controls across the Bank and prepare reports thereon

Consultancy Role

• Perform an advisory role for all business units.
• Advice on governance, risk management and internal control

Adhoc & Fraud Investigations

• Lead and assist in special assignments and fraud investigations, when required

Job Requirements Qualifications Essential

• University graduate in commerce or finance
• Internationally recognized accounting/auditing qualification: CA, ACCA, CPA, CIA, CISA, etc).

Desirable

• Member of IIA or similar International Standards association.
• Post-Graduate Accounting or Finance qualification from a recognized international institution

Experience

• 15+ years internal/external auditing experience in the Financial Services industry
• 10+ years’ experience in leading banking Internal Audit teams.
• Good Banking business domain experience with specialized expertise in auditing financial services Risk Management, Compliance and back-office operations.

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