AVP & Audit Manager, Compliance AVP & Audit Manager, Compliance …

First Abu Dhabi Bank
in Abu Dhabi, Abu Z aby, United Arab Emirates
Permanent, Full time
Last application, 30 Nov 21
Competitive
First Abu Dhabi Bank
in Abu Dhabi, Abu Z aby, United Arab Emirates
Permanent, Full time
Last application, 30 Nov 21
Competitive
See job description for details
Company Description

Now it's your time to join the #1 bank in the Middle East and one of the most prestigious financial companies in the region. Shaking up the world of banking requires a lot of smarts and skill. We're looking for the brightest and best to help us reach our goals and we'll also help you reach yours. Your success is our success as you grow stronger in your career. Join us and leave a legacy of your own, as a pioneer in both the company and the industry.
Job Description

JOB PURPOSE:

Participate in audits covering the activities and processes of Compliance activities across the FAB Group ensuring that governance, risk management and controls are in place to mitigate the inherent risks of the business. Develop thorough understanding of both Financial Crime risk and Regulatory Compliance risks, 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.

Develop and position self as a subject matter expert. Participate in special investigations, reviews, additional tasks as and when required by GIA Senior Management.

KEY ACCOUNTABILITIES:

This section shall not be customised to reflect accountabilities which may be unique to one role. Please use Section 5 to capture any accountabilities specific to the role which are over and above those mentioned in this section.

Strategic Contribution

• Assisting in the audit of FAB Group's Compliance functions and related activities in the UAE and across the international network (functional).

• Ensure that Compliance 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 drive culture within the Bank.

Budgeting and Financial Performance

• Monitor the financial performance of a given area of activity 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 Compliance Portfolio and the related risk management activities in all the jurisdictions in which the Group 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 Compliance and applicable Subsidiaries 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 Compliance Portfolio and assess if:

o Divisional/Unit Line management 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 meet 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 issues submitted by junior 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 the Compliance 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 respective Unit management and that all corrective actions are fully and properly implemented.

• Assist in undertaking any investigations/special reviews assigned by Group Head of Audit/GCAO.

Reporting

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

Specific Accountability

• Maintain up to date knowledge and understanding of key regulatory developments, including but not limited to Fin Crime, across different jurisdictions relevant to FAB Group; drive necessary changes in Audit plan/working programs to take into consideration regulatory changes; act as a trusted advisor to business/Compliance in the areas of Financial Crime Risk and Regulatory Compliance.

• Be a trusted advisor to the Business and Compliance Teams (covering both Financial Crime Compliance & Regulatory Compliance).

FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:

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

Qualifications

Q UALIFICATIONS & EXPERIENCE:

• Bachelor degree, majoring in Banking, Finance, Law, Accounting, Economics and Business (or any degree of interest to FAB).

• Minimum 3-5 years' experience in a similar role with a proven track record.

• Strong written, verbal, analytical and presentation skills.

• Proficiency in Word, Excel, and PowerPoint.

• Good knowledge of Compliance activities, processes and associated risks.

• Good knowledge of banking and audit policies and procedures, as well as relevant Central bank regulations.

• Self-directed, able to manage multiple tasks and ability to work under pressure.

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