Vice President - Global Markets (Audit)

Job description / Role

Our client is a leading bank in UAE with line of business includes whole range of corporate and retail banking, Islamic banking and other services.

A people leader and subject matter expert responsible for planning, executing and reporting on governance, risk management and controls in place to mitigate the inherent risks of the business and support units in Global Markets.

Through a thorough understanding of Global Markets business, operations and the regulatory environment provide assurance to Unit management by conducting risk based audits, identifying weaknesses and agreeing action plans to address the issues raised. Develop and manage a team to achieve results in an efficient and effective manner ensuring quality at all times. Act as the day to day contact with Global Markets management influencing change through providing advice. As part of the GIA Extended Management Team (EMT), provide input to GIA on issues that have impact to the Group as a whole. Conduct special investigations, reviews, additional tasks as and when required by SVP/SMDGCAO.

JOB CONTEXT/DIMENSIONS:
- Directly responsible for the audit of the Groups Global Markets businesses in the UAE and across the international network (functional).
- Manage the Global Markets team
- Accountable for the performance and results of the Global Markets team
- Provide technical guidance to the team and to colleagues from other teams

TASKS:
- Execute to established GIA Policies, Guidance Notes, Procedures and Practice Notes in undertaking all tasks. Provide input to the development of GIA practices.
- Review all the activities of the Units within the Global Markets Portfolio and the related middle office, back office and risk management activities in all the jurisdictions in which the Portfolio operates to define and maintain the
- Audit Universe. Coordinate with other teams to ensure efficient and effective coverage.
- Prepare and maintain a Risk Assessment of each of the Process/Product Streams within the Global Markets Portfolio as identified in the Audit Universe. In this respect, work with the businesses to promote periodic self assessment of risks and controls.
- Develop Annual Audit Plan for Global Markets Audit. Prioritize as per the Risk Assessment and determine skills of Auditors required to support the Audit Plan. Ensure that assignment of auditors is based on their expertise to handle special assignments/investigations.
- Ensure that Global Markets audits are conducted in accordance with the objectives laid down in the Annual Plan and ensure that the work program is completed in an efficient and effective manner on, or ahead of schedule. Inform SVP of any potential delays and/or changes to the Annual Plan.
- Establish/update and maintain Global Markets Audit programs in the central audit management tool.
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Conduct audits of the Processes/Product Streams within the Global Markets Portfolio and assess if:
- Divisional/Unit Line management have identified and classified the risks in their activities.
- Governance, risk management and control procedures are adequate, effective and efficient to reduce risks of errors, omissions and loss to acceptable levels at an acceptable cost.
- Improvements/enhancements to the governance, risk management and internal control structure are required.
- Data and transaction processing meets the required standards of reliability, integrity and availability.
- The Divisions/Units assets are being safeguarded.
- The use of resources is efficient and effective.

In undertaking audits, ensure:
- Supervision, training and guidance is provided to Global Markets Audit staff.
- Responsibilities are assigned to audit team member for covering field work as per audit requirement.
- Team members working papers are reviewed and valid review points raised to GIA management for discussion, if needed.
- Draft audit report submitted by auditors are properly reviewed and finalized.
- Audit report is discussed and finalized with GIA management/client within 3 weeks of completion of fieldwork.

- Negotiate with Unit management to agree a documented Management Action Plan to resolve the issues raised
- Act as the Audit Business Partner for Line Managers within the Global Markets business and actively manage the relationship through regular meetings with Line Managers to promote this concept and identify emerging risks. Such meetings should also be used to discuss any material gaps between audit assessment or risks and controls and the businesses self-assessment.
- Ongoing consultancy/advice is provided to Unit management from a governance, risk management and control perspective for improvements in their processes to ensure effective and efficient controls, on the basis of market best practices.
- On an ongoing basis, ensure pending audit issues are followed up with Unit management and that all corrective actions are fully and properly implemented.
- Conduct any investigations/special reviews related to Global Markets assigned by SVP/SMD-GCAO.
- Feedback is provided on the performance of the audit staff under supervision
- All interactions with the team and Unit staff are conducted in a professional and objective manner

Requirements

- Educated to minimum degree level with professional qualification and/ or certification desirable
- Minimum 7 years relevant experience with an International Bank, Big 4 or Internal Audit preferred (but not mandatory). Exceptions may be made for high potential candidates.
- Expert knowledge of Global Markets business and associated risks
- Strong leadership capability and team-oriented with highly developed problem-solving skills
- Self-directed, able to manage multiple tasks and ability to work under pressure
- Excellent analytical skills
- Excellent verbal and written 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.