The incumbent will be responsible for ensuring timely completion and execution of the approved annual audit plan pertaining to sharia standards/principles. The incumbent will also render internal audit advisory services to the individual entities comprising the Islamic Banking area, as and when required by
Provide input to annual audit and risk review and other audit tasks plan to the Principal Specialist - International Corporate, Private Banking, Credit & Islamic Banking Audit based on the impact of the risks on the goals, objectives and strategy of the Group with respect to Islamic Banking and the other areas assigned to the Islamic Banking Audit team as part of their secondary responsibilities.
Implement and execute the plan approved by the Group Audit & Compliance Committee and ensure completion of the same within the assigned period as instructed by the Principal Specialist, International Corporate, Private Banking, Credit & Islamic Banking Audit. Also responsible for submitting status reports on the various assignments in progress to the Principal Specialist - International Corporate, Private Banking, Credit & Islamic Banking Audit explaining the reasons for the delay in completion of individual assignments, if applicable.
Develop and implement appropriate risk assessment methodology/ parameters and criteria in consultation with the Principal Specialist, International Corporate, Private Banking, Credit & Islamic Banking Audit to facilitate evaluation of the individual functions/ processes/ products/ and related procedures based on the risk involved in the referenced activity/ function/ area.
Manage the review of the portfolio performed by his/her team of the Islamic banking activities and the adequacy of the risk management processes in place to determine quality of the Islamic credit and investment exposures, both "on" and "off" balance sheet. Overall responsible for the evaluation of the process in place to check compliance with internal policies, limits, external statutory and local/ international regulatory requirements in this regard.
Oversee on day-to-day basis, the individual assignments comprising the approved plan to ensure that these are being conducted in accordance with the best practices for internal auditing, including but not limited to sharia standards/principles, the SPPIA recommendations/ guidelines.
Ensure that the audit planning, fieldwork and reporting stages are conducted in consonance with the procedures/ guidelines contained in the internal audit manual, including but not limited to communications to relevant auditee management on audit commencement, presentation of draft reports to auditee management and obtaining their responses and holding of closing meetings.
Conduct special audits, and if applicable, risk reviews for investigation of problem areas or for certain specific reasons, as and when directed by his superiors.
Review and adjust audit programs to be aligned with engagement scope and requirements and the related advances in best practices pertaining to the area under review.
Perform first level review of all internal audit and other special assignment/ investigation/ other audit tasks reports/ deliverables and subsequent submission of the same to the Principal Specialist - International Corporate, Private Banking, Credit & Islamic Banking Audit.
Responsible for the utilization of the appropriate audit software procured by Group Internal Audit by all personnel reporting to the incumbent.
Review internal audit team work and challenges their understanding of audit areas and processes to assure adequate coverage.
Monitor post-audit follow-up of audit reports to ensure compliance with recommendations, when required in accordance with instructions from superiors.
Assist the Principal Specialist - International Corporate, Private Banking, Credit & Islamic Banking Audit in work load distribution and establish a detailed budget for each phase of the audit/ assignment.
Recommend temporary staff allocations for audits of Islamic banking activities to the Principal Specialist - International Corporate, Private Banking, Credit & Islamic Banking Audit.
Conduct performance appraisals of personnel reporting to the incumbent and submit his own performance appraisal to the Principal Specialist - International Corporate, Private Banking, Credit & Islamic Banking Audit on timely basis in accordance with the laid down policy in this regard.
Responsible for imparting training/ guidance to trainees who join the Group Internal Audit.
Professional qualifications such as CISA/ CISSP / CIA / CA/ ACCA etc.
Minimum of 8 years’ experience in a major bank or leading audit firm with specific knowledge of Islamic Banking knowledge out of which 5 years in a managerial role
Excellent oral and written communication skills in English and Arabic (preferred).
Proficient knowledge of CoBIT principles, IT Security, IT Governance and related best practices.
Understanding of banking systems would be an advantage.
Knowledge of Basel Committee best practices pertaining to the area of responsibility, especially with respect to Business Continuity Management (BCM), including Business Continuity Planning (BCP) and Disaster Recovery Planning (DRP).
Working knowledge of Computer Assisted Audit Techniques.