Ref: OP195-48

Job description / Role

Employment: Full Time

Our client, a large banking institution based in Bahrain are looking for a senior auditor to come on board as Head of Internal Audit. This role will report directly to the CEO and the audit committee.

Job Purpose:
- Assist the Board of Directors, the Audit Committee of the BoD and senior management in performing their responsibilities regarding monitoring the effectiveness of internal control.
- Ensure that the material risks that could affect the achievement of the Bank’s objectives are being recognised and assessed and internal controls are continuously revised/upgraded to appropriately address any new or previously uncontrolled risks.
- Evaluate the effectiveness of internal control structures at all levels and report material internal control deficiencies to senior management, Audit Committee and the BoD.
- Advise senior and line management on building adequate internal control set up for new systems, lines of business, new products and revised processes and practices.
- Participate in various committees from time to time.
- Assess the adequacy of existing operations policies and procedures, revise existing operations procedures and formulate new procedures.
- Assess the implications of new laws and regulations and ensure compliance with the regulations, laws and other applicable rules in capacity of the Bank’s compliance officer.
- Liaise with external auditors and regulatory inspectors.

Dimensions e.g. Targets, budgets, volumes, staff numbers:
- Safeguard the Bank’s assets, net worth, customer deposits and corporate image by ensuring adequacy and effectiveness of internal controls and regulatory compliance.
- Formulate internal audit strategies and plans that are consistent with the Bank’s strategies, objectives and priorities.
- Providing advisory support on various aspects of the Bank’s operations, regulatory and internal controls framework.
- Managing Internal Audit staff and activities.

Principle Responsibilities:
- Formulate audit strategies, plans and methodologies.
- Plan, organise and supervise the activities of Internal Audit division.
- Manage and supervise systems, operation, credit and treasury audits covering entire activities of the Bank.
- Ensure that all internal audit activities are conducted in accordance with the adopted professional standards.
- Assess the adequacy and appropriateness of internal controls for all aspects of the Bank’s operations.
- Appraise the BoD, the Audit Committee of the BoD and senior management about the assessment of the internal control environment, significant audit findings, new regulations and status of implementing the key audit recommendations.
- Train and develop staff to enable them to handle higher responsibilities.
- Strive to achieve overall excellence in our operations standards and customer satisfaction by providing value added advice on various aspects of the Bank’s policies, business and operations.
- Provide required advice and assistance to the senior management committees in achieving the committee objectives.
- Co-ordinate Internal Audit activities with the external auditors to ensure a mutually beneficial professional relationship.
- Assess the adequacy of the existing operations procedures and update the same in consultation with respective division heads to reflect the changing environment and new challenges.
- Handle special projects assigned by the senior management from time to time.
- Perform other duties as assigned by the Managing Director.
- Assess the implications of new laws and regulations and ensure compliance with the regulations, laws and other applicable rules in capacity of the compliance officer of the Bank.

Requirements

The Head of Internal Audit is the chief internal auditor of the Bank who reports to the Managing Director. He also has authority to directly report to the Chairman of the Board of Directors and the Chairman of the Executive Committee of the BoD (acting in capacity of the Audit Committee of the Bank). His responsibilities cover managing audit of operations, credit, treasury and information technology activities. In addition he reviews internal controls to ensure that appropriate preventive and detective controls are in place. The main challenge of the job is to understand all the aspects of banking activities and play an advisory role for each area of the Bank’s operation.

- Qualified Auditor/Accountant from a recognised profession.
- BA & BSC from a recognized University.
- Over 15 years of experience.
- Strong management and communication skills.

About the Company

AXIZ Consulting is based in the Dubai International Finance Centre and offers a bespoke, highly consultative recruitment service to local and international organisations across the GCC in both professional services and primary industries. Its founding two members come from a blend of executive search and contingent recruitment and they have taken some of the best practices of executive search and applied this to contingent recruitment in order to produce a service which offers maximum value to clients.

In order for us to build a successful company, we identified a core aim: to offer our clients a service that surpasses that of our competition. In order to do this, we have put into place both internal and external processes that ensure clients receive a consistent and professional service which gets the right results, in the right way.

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