VP - Head of Audit

Job description / Role

VP - Head of Audit - MENA

Department/Unit Group: Internal Audit
Reports to: SVP & Head of Audit, International
Reported to by: MENA Resident Internal Auditors (RIAs)

PURPOSE OF JOB
- Double hat as VP & Head of Audit MENA and Head of Audit Egypt. 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 MENA. Through a thorough understanding of MENA business, operations and the regulatory environment provide assurance to Country management by conducting risk based audits, identifying weaknesses and agreeing action plans to address the issues raised. Develop and manage the RIAs MENA team to achieve results in an efficient and effective manner ensuring quality at all times. Act as the day to day contact with Countries management influencing change through providing advice. Provide input to GIA on issues that have impact to the BANK Group as a whole.
- Manage the MENA Resident Internal Auditors (RIAs) and Audits in coverage of the auditable entities and product streams.
- Catalogue and risk rate all auditable entities / Product Streams under MENA and ensure that all auditable entities have been reviewed as per Audit assignment plans considering regulatory requirements and risk profile.
- With RIAs and support from Group Internal Audit at HO, conduct audits across MENA Countries front, middle, and back offices as well as risk management in order to determine the extent of compliance with formalized policies, regulatory requirements and to identify and recommend enhancements to the systems of internal control.
- Monitor and enhance Audit procedures to ensure that they adequately address the risk associated within the MENA businesses.
- Ensure that RIAs and Countries audits working papers are completed in line with Audit Methodology. All Audit findings must be supported by thorough analysis and have sound basis in fact.
- Prepare reports as required detailing the Audit activities and findings for SVP & Head of audit, international review.
- Provide input to the development and management of the function.
- Conduct any investigations/special reviews related to MENA assigned by GCAO or SVP & Head of Audit International.
- Through meetings, telephone calls and in writing, remain conversant with the business objectives, risks and controls of the activities in the MENA.
- Utilize MENA knowledge and expertise to conduct special reviews as per management request.
- Monitor the issues raised and follow-up for resolution
- Respond to additional tasks as requested by GCAO/SVP & Head of Audit, International.

JOB CONTEXT/DIMENSIONS
- Directly responsible for the audit of BANK in the MENA.
- Specialized with MENA current Regulatory requirements and any new regulations, market practices
- Develop risk assessment and audit plan for the MENA. Suggest improvements to policies and processes
- Accountable for delivery of the agreed audit plan

TASKS
- With the RIAs and support from GIA HO where need, review all the activities of the BANK MENA and risk management activities in accordance with the Audit Plan agreed with the Audit Committee from time to time.
- Prepare and maintain a Risk Assessment of each of the Process/Product Streams within MENA. In this respect, work with the businesses to promote periodic self-assessment of risks and controls.
- Develop Annual Audit Plan for MENA in line with Audit Methodology. Prioritize as per the Risk Assessment and regulatory requirements.
- Ensure that MENA audits are conducted in accordance with the objectives laid down in the annual plan and ensure that the work program is completed on, or ahead of schedule.
- Establish/update Audit programs based on the Risk-based approach and ensure that whenever update is required, the same to be addressed to SVP & Head of Audit International. All audit work and programs should comply with local regulations, the policies and procedures laid down in the GIA Audit Manual, standards set by the IIA and market best practices, where applicable.
- Conduct audits of the Processes/Product Streams within the MENA and assess if:
- Divisional/Unit Line management have identified and classified the risks in their activities.
- 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 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. Ensure that compliance is maintained with the policies and procedures laid down in the GIA Audit manual, standards set by the IIA, and market best practices, where applicable and to ensure that these are covered by risk-based Internal Audit Reviews. This includes ensuring that:
- Various Auditing standards e.g. independence, objectivity, proficiency and performance of audit work are being exercised/in place.
- Supervision, training and guidance is provided to Audit staff, if applicable.
- Responsibilities are assigned to audit team member for covering field work as per audit requirement.
- Draft audit reports are properly reviewed and finalized, before submitting to SVP & Head of audit, international.
- Audit report is discussed and finalized with client & SVP & Head of audit, international within 3 weeks of completion of fieldwork.
- Act as the Audit Business Partner for Line Managers within the MENA and actively manage the relationship through regular communications 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.
- On an ongoing basis, ensure identified weaknesses and exceptions and ensure all corrective actions are fully and properly implemented.
- Support GIA HO audit team during their annual/ regular audits on MENA.

AUTHORITIES
As per approved Internal Audit Charter or specific delegated authority

Requirements

- Educated to minimum degree level is required with accounting or other professional qualification or post graduate degree.
- Minimum 10 years experience in Internal Audit, International Banking, accounting or other relevant profession
- Good knowledge of MENA businesses, local regulations & requirements
- Good knowledge of bank and audit policies and procedures, as well as local regulations
- 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
- Must be Arabic Speaker

About the Company

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We are a team of industry experts, driven by a passion for innovation and excellence. We are dedicated to providing unique talent solutions and nurturing collaborative partnerships that redefine success.