JOB PURPOSE:

A subject matter expert responsible for planning and executing audits covering the activities and processes of Group Finance and Treasury related activities across the FAB Group. Through a thorough understanding of business/ relationship aspects, treasury, financial control dynamics, finance processes and the regulatory environment, both in UAE and other relevant jurisdictions where FAB operates, provide assurance to Management by identifying weaknesses; reporting and escalating significant Audit findings in a timely manner; and agreeing action plans to address the issues raised.

Act as the day to day contact with Management in Group Finance and Treasury 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 FAB Group as a whole. Conduct special investigations, reviews, additional tasks as and when required by Head of Audit- Finance & Treasury/GCAO.

KEY ACCOUNTABILITIES:

Strategic Contribution

Responsible for the audit of FAB Group’s Finance and Treasury and related activities in the UAE and across the international network (functional). Furthermore, Group Subsidiaries with Treasury and Finance presence will be covered.

Develop Annual Audit Plan for Group Finance and Treasury. 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 Group Finance and Treasury related 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 Head of Audit of any potential delays and/or changes to the Annual Plan.

People Management

In undertaking audits:

Provide guidance and on the job training for junior colleagues and conduct knowledge sharing to facilitate achievement of team objectives and completion of tasks in an efficient manner which is consistent with operating procedures and policy.

Promote the organisation’s values and ethics in all activities within the team to support the establishment of a value driven culture within the bank.

Budgeting and Financial Performance

Monitor the financial performance of given areas of activities versus budgets and ensure all activities are carried out in line with the approved guidelines while promptly reporting on any variances to management.

Policies, Systems, Processes & Procedures

Execute to established GIA Policies, Guidance Notes, Procedures and Practice Notes in undertaking all tasks. Provide input to the development of GIA practices as per industry standards and regulatory expectations.

Review all the activities of the Units within the Group Finance and Treasury Portfolio 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 Streams within the Treasury and Finance areas  as identified in the Audit Universe. In this respect, work with the businesses to promote periodic self-assessment of risks and controls.

Establish/update and maintain Audit programs in the central audit management tool.

Conduct audits of the processes within the Group Finance and Treasury Portfolio and assess if:

o   Auditees have identified and classified the risks in their activities.

o   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.

o   Improvements/enhancements to the governance, risk management and internal control structure are required.

o   Data and transaction processing meets the required standards of reliability, integrity and availability.

o   The Division’s/Unit’s assets are being safeguarded.                                                 

o   The use of resources is efficient and effective.

o   Draft audit report submitted by auditors are properly reviewed and finalized.

o   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.

Continuous Improvement

Lead the identification of change through continuous improvement of processes and practices considering global standards and changes in the business environment which demand proactive action plans.

Relationship Management

Develop and maintain effective business relationships with all relevant external/internal entities and stakeholders with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organisation are delivered in the most effective manner.           

Act as the Audit Business Partner for Line Managers within Group Finance and Treasury teams 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 assigned by Head of Audit/GCAO.   

Reporting

Ensure that all functional reports are prepared timely and accurately and meet Group requirements, policies and quality standards.

Job Context

Specific Accountability

Maintain up to date knowledge and understanding of IFRS, financial control processes (e.g. SOX) and CBUAE regulatory reporting developments, drive necessary changes in Audit plan/working programs.

Safeguarding against potential loss and contributing to the Units/Departments systems and procedures, by reporting whether Financial Control governance & controls of FAB standards are effectively carried out and are efficient in the units/departments audited.

Reviewing the Group Finance and Treasury functions of the bank end to end and identifying areas of correction / improvement.

Examine and comment on the process for the early recognition of problems (if any) and their remedial management to minimise the loss.

Preparation / Review of Audit MIS/ dash Boards including audit committee presentation slides relating to audit conducted in the Group Finance and Treasury space.

Contributing towards the enhancement of relationship between GIA and stakeholders.

Keeping abreast of the local and international economic trends, banking practices and regulatory prescriptions.

FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:

Functions within the framework and boundaries of Group Internal Audit policies as well as overall organisational and governance frameworks.

Authorised to take decisions as per the approved authorisation matrix.

Minimum Qualification

Bachelor’s degree.

Relevant post-graduate qualification and/or relevant professional qualification and/ or certification desirable.

Minimum Experience

Minimum 15 years’ relevant experience with an International Bank or Big 4. Internal Audit experience strongly preferred. At least 10 years similar positions of progressively increasing managerial responsibilities in the Financial Control/Product Control and/or Audit function.

Expert knowledge of Treasury and Financial Control risk activities and processes 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.