Head of Internal Audit

Bahrain

Ref: LP127-1315

Job description / Role

Employment: Full Time

Based in Bahrain our client is a leading Islamic retail bank, providing a diverse range of Sharia compliant products.

They are currently looking for a Head of Internal Audit

Duties & Responsibilities:
- Conducting annual (or need based) risk assessments and preparing the annual risk based audit plans and, advising the Head of Group Internal Audit on the evolving trends within the organization and/or the need for a revision to the audit plan.
- Conduct or cause planning efforts for individual elements of the audit plan and allocate appropriate resources (including self) to each audit engagement.
- Preparing internal MIS on the status of execution of the audit plan every month and coordinating for department level meetings to discuss this aspect. Advise the Head of Group Internal Audit on any actual or potential delays.
- 4Conducting and leading audits allocated to self either alone or assisted by other appropriate resource(s). Performing process level risk analyses, internal control assessments and concluding on residual risk and identifying opportunities for improvement. Prepare audit programs for performing test of internal controls and arrange for the testing work to be performed.
- Maintaining engagement level documentation of planning, analyses, testing and conclusions in accordance with the standards set by the department and the Institute of Internal Auditors.
- Prepare or review preparation of internal audit reports or other forms of communication on work undertaken by the internal audit department, discuss observations and recommendations with relevant management through formal exit meetings (and other means of communication as appropriate) and submit the draft reports for clearance to the Head of Group Internal Audit.
- Keep abreast of evolving regulation, business/economic trends, good practices, governance requirements and the operations of the Bank and its subsidiaries through external/internal sources thereby ensuring continuous evolution of the approach adopted in execution of the audit plan as a whole and of its individual elements. Furthermore, sharing the information thus obtained within the internal audit department.
- To assist the Head of Group Internal Audit in implementing a reporting framework by preparation of reports, analyses and other internal audit MIS and, in preparation of the internal audit submissions to the Audit & Governance Committee.
- Establish strong relationships with Head of Financial Control, the In house legal Department and other control positions/ heads of departments / key personnel to ensure that issues are minimized and dealt with swiftly and appropriately.

Requirements

- A relevant graduate degree preferably in disciplines such as Accounting, Finance or other business discipline:
- Membership (or a qualification that would facilitate such membership) of a Professional accounting body [for e.g. a Chartered Accountant (CA) from a reputable Institute, Certified Public Accountant (CPA), and Associate of Chartered Certified Accountant (ACCA)].
- Candidate must have experience in Islamic Banking
- A IT audit qualification such as CISA would be of added advantage but not essential
- Good knowledge of governance, business processes, risk management, internal controls and internal audit in a financial services environment.
- High degree of independence (both actual and perceived), integrity, loyalty, objectivity and confidentiality.
- Good leadership skills and the potential/ability to manage and motivate a diverse team.
- Interpersonal skills with a focus on persuasive skills and the ability to establish and maintain working relationships with heads of businesses/support units of the Bank and its subsidiaries. Should be a teamplayer.
- Excellent communication skills with the ability to produce precise and concise reports in English, good verbal communication and presentation skills.
- Good analytical and reasoning skills
- Preference will be given to Bahraini Nationals

About the Company

Propel Consult delivers a service in step with the needs of both our client companies and candidates. Our ability to add value to all levels of recruitment stems from our wholehearted belief in providing a professional service to both parties. We have built relationships with many leading indigenous and mulitnational organisations throughout the Middle East and internationally in countries such as UAE, Qatar, Saudi Arabia, Oman, Bahrain, Kuwait, Egypt and many more. Concentrating our resources has created 5 distinct specialist divisions: