Job Purpose
The role holder is responsible to lead and execute the internal audit function within the branch, ensuring alignment with regulatory requirements, Group Internal Audit standards, and strategic objectives. The role is responsible for planning and conducting risk-based audits, integrating data analytics to enhance audit effectiveness, and evaluating internal controls and risk management processes.
The role involves supervising audit teams, managing stakeholder relationships, and driving continuous improvement and quality assurance across audit activities. The position also contributes to strategic initiatives, supports external audit coordination, and ensures timely reporting and follow-up on audit findings to safeguard the branch’s operational integrity and regulatory compliance.
The role holder is responsible to manage and lead risk-based internal audits, producing reports and recommendations for NBB – UAE management and Group chief Internal Auditor. In addition to providing the management with independent, timely and reasonable assurance that internal control systems are adequate and effective.
Key Responsibilities
- Audit Execution
- Conduct risk assessments and develop the annual audit plan in alignment with regulatory requirements and stakeholders’ expectations.
- Incorporate data analytics into audit planning and execution to enhance coverage, detect trends, and improve the accuracy of control evaluations.
- Collaborate with data owners and IT teams to ensure data integrity and accessibility for audit analytics.
- Assess the effectiveness of internal controls and risk management processes across the branch’s operations and activities.
- Create, evaluate, and regularly update all audit programs to ensure their ongoing effectiveness and recommend appropriate modifications when necessary.
- Execute the audit plan by performing internal audits to evaluate the adequacy of controls, compliance with policies, and efficiency of operations.
- Conduct special audits and investigations as assigned by Management and/or the Audit Committee and report on the results and recommendations.
- Supervise and lead the internal audit team.
- Provide guidance, training, and feedback to team members and foster a positive and collaborative team environment.
- Conduct investigations into suspected fraudulent activities.
- Ensure that internal audit activities in the branch align with the overall internal audit strategy and policies set by the Group Chief Internal Auditor and the Head Office.
- Determine opportunities for cost savings and income generation through audit and consultancy work and ensure expenditure levels are within the allocated budget in order to contribute to Branch profitability.
- Participate in strategic initiatives and projects related to the internal audit function or the branch’s objectives.
- Stay abreast of changes in regulations and update audit programs accordingly.
- Audit Report & Recommendations
- Communicate audit findings, recommendations, and action plans clearly and concisely.
- Prepare and present audit reports to senior management and the audit committee when necessary, following the standardized reporting formats and templates established by the Group Internal Audit function.
- Monitor and track the implementation of audit recommendations and ensure corrective actions are taken to address identified issues.
- Regularly communicate audit plans, progress, findings, and updates to the Group Chief Internal Auditor and provide timely feedback on significant risks, emerging issues, and audit results.
- Ensure that engagement deadlines and objectives are met.
- Ensure timely escalation of delays in execution of audit work.
- Stakeholder Management
- Provide constructive feedback to the Group Chief Internal Auditor on ways to enhance the effectiveness and efficiency of the internal audit function.
- Collaborate with internal audit team in HO to share best practices, coordinate audit efforts, and maintain consistency in audit methodologies.
- Collaborate with the branch management to address concerns and provide value-added recommendations.
- Collaborate with external auditors to ensure a seamless, efficient audit process and provide requested information and support during external audits.
- Quality Assurance & Continuous Improvement
- Develop and deliver training programs on related areas such as audit, internal control procedures, and whistle blowing.
- Keep abreast of relevant professional/industry developments, new techniques and current issues through continued education and professional networks.
- Participate in the global risk assessment process led by the Group Chief Internal Auditor and provide insights into region-specific risks and regulatory considerations.
- Ensure compliance with relevant banking laws, regulations, internal policies, and procedures through periodic audits.
- Ensure that the working papers for the engagements accurately capture all the tasks done during the audit engagement.
- Establish and maintain quality assurance processes for the internal audit function.
- Promote a culture of continuous improvement by integrating insights from data analytics into audit methodology and reporting.
- Conduct periodic internal quality reviews to assess the effectiveness of internal audit activities and ensure that internal audit activities in the Abu Dhabi branch adhere to the professional standards and guidelines set by the Group Internal Audit function.
- Qualifications & Experience
- Bachelor’s degree in Finance, Accounting, Risk Management, or a related discipline is required.
- Master's degree in Accounting, Finance, Economics, or a related discipline is preferred.
- Professional qualification of CIA, CPA or equivalent are preferred.
- Minimum 5-6 years of practical experience in a bank with 3 years in the same or similar function.
- Note: applications are limited to UAE nationals only.
