Treasury and Credit Auditor

Job description / Role

Job Purpose:
- Perform overall risk assessment of credit and treasury businesses of the Bank and assist the Head of Treasury, Credit & Ongoing audits in identification of audit centres and preparation of annual audit plan.
- Assess through planned audits compliance to the Bank's approved policies and procedures, regulatory requirements, applicable laws and financial reporting standards.
- Assess investment and credit delegated authorities, risk management processes and practices.
- Assist in managing the internal audits of credit granting and review, credit administration, remedial management, treasury dealing, treasury operations and risk management functions.
- Develop audit programs to reflect the detailed risk assessment and efficient performance of audits of Treasury and Credit areas.
- Evaluate impact of introduction of new processes or changes to existing Credit and Treasury processes over the risk assessments and formulate changes to audit plans, centers or strategic.
- Assist in evaluating the impact of new regulations and laws on the Bank's business and operations by reviewing CBB draft regulations.
- Manage and supervise the Assistant Auditor for Treasury and Credit by performing review of audit papers and audit reports prepared, to assess whether all the planned audit work is completed and all material issues are included in the audit report.
- Plan and conduct quality assurance review as per the division quality assurance standard.
- Participate in various committees from time to time.

Dimensions:
- Contribute in safeguarding the Bank's assets, net worth, customer deposits and corporate image by ensuring adequacy and effectiveness of internal controls and regulatory compliance.
- Perform internal audit and control assessments of various products and departments in treasury and credit areas and give support to Head of Treasury and Credit Audit.
- Providing advisory support on various aspects of operations, systems, products, internal controls, regulatory framework and accounting standards concerning Credit and Treasury.

Principle Responsibilities:

Credit Review Audit:
- Plan, supervise and conduct internal audit of Corporate, Commercial and Retail businesses and assess the reasonableness and effectiveness of credit appraisal process, exposure categorization, and relationship management and identify negative signals in the credits, if any.
- Formulate plans and audit programs to ensure quality audit work and maintain the working papers and documentation in accordance with the quality assurance standards adopted by the division.
- Discuss significant audit findings with the concerned departments and report those findings, action plans to implement the audit recommendations and the follow up reports.
- Review the credit activities of the Bank with the objectives to assess the compliance to the lending and other credit policies and procedures, delegated authorities and pricing guidelines.
- Review the trends in the credit risk profiles, past due and classified exposures, write-off, profitability and spreads in the credit related activities of the Bank. Provide detailed inputs to the Head of Treasury, Credit and Ongoing audits in this regard.
- Review the appropriateness of the Bank's credit policies, credit appraisal processes, delegated authorities, credit risk management processes and practices and adequacy of internal controls. Make recommendations for improvement in those areas.

Treasury Audit:
- Plan, supervise and conduct internal audit of treasury dealing, treasury operations and market risk functions.
- Formulate plans and audit programs to ensure quality audit work and maintain the working papers and documentation in accordance with the division's quality assurance standards.
- Discuss significant audit findings with the concerned departments and report those findings, action plans to implement the audit recommendations and the follow up reports.
- Review the treasury activities of the Bank with the objectives to assess the compliance to the approved policies, limits, plans, procedures, delegated authorities and pricing guidelines.
- Review and make efforts for enhancing the internal controls set up and policies and procedures in the areas of treasury dealing and treasury operations.
- Review the appropriateness and adequacy of documentation for treasury products.
- Assess if the credit, operations, legal and market risks assumed for treasury products are consistent with the Bank's risk appetite. Review the appropriateness of market risk management policies and practices and make recommendations for improvement.

Other Compulsory Regularity Reviews:
- Semi-annual Market Risk Model Review as per CBB requirements.
- Annual and monthly Insider Trading review.
- Review periodically the Bank's capital adequacy calculation to ensure compliance with the Bank's document approved by the Board of Directors as per Basel 11 recommendations.

Others:
- Follow up on issues through the Progress Reports and the Target Dates agreed with the auditee.
- Conceive, formulate, test and implement the Computer Assisted Audit Techniques (CAATs) investigations with the assistance of 11 Auditor.
- Provide advisory support during the launch of new lines of business and products, introduction of new accounting standards, revision/formulation of policies, introduction of new laws and regulations and in selection and implementation of new systems in Treasury and Credit areas.
- Participate in the pre and post implementation systems review and testing in case of new system developments and acquisitions in co-ordination with the 11 auditor.
- Conduct special investigations and other tasks as and when assigned.
- Actively participate in various committees from time to time.
- Train and develop Bahraini staff.

Requirements

The Credit and Treasury Auditor is responsible for carrying out the internal audit of Treasury (FX, Money Market. Derivatives, Securities, Managed Funds, Wealth Management, Trading and Investment Advisory) and Credit activities (Retail Banking, Commercial Banking, Corporate Banking Credit Administration and Remedial Management) of the Bank.

He/she is also responsible for auditing the activities of the Credit Policy and Risk Management division including Market Risk unit. It is a pre requisite to have advanced technical and accounting knowledge about complicated treasury products and risk management techniques.

The incumbent is also expected to have knowledge of credit structures and products, business and economic environment, credit appraisal process and legal framework in the credit area. it is equally challenging to ensure compliance with ever changing and evolving regulatory framework both domestically and regionally.

Treasury and Credit arc one of the most complex business areas in any Bank and hence, level of knowledge and skills requirement for auditing these areas is considerably higher.

Knowledge, Skills, Experience and Behavior:
- At least bachelor in accounting from a recognized University.
- Professional qualification from a recognized institution (preferably CFA, CPA, ACCA).
- Up to date with all Accounting and Auditing standards.
- Over 5 years banking experience in credit, risk management and treasury audits.
- Strong knowledge of treasury product (Money market, FX, SAWP, Hedging techniques, derivatives).
- Strong knowledge in Basel II and III and related ICAAP (Internal capital Adequacy Assessment Process)
- Participated in Auditing the Market Risk, Compliance and Operational risk unit within his bank.
- Strong knowledge of risk assessment and design of controls.
- Strong interpersonal communication, negotiating and influencing skills.
- Expatriate, in the Age range (from 30 to 45 years)

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.