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.