Role Objective
The ICOFR Officer will assist the Team Lead ICOFR in planning /execution of Internal Control Over Financial Reporting (ICOFR) compliance efforts of the Bank, in line with regulatory (QFMA) mandates and Bank's policies and procedures. The incumbent will support liaison efforts with the Business/Operations/IT control owners in evaluating the effectiveness of internal controls over financial reporting, IT General Controls (ITGC), IT Automated Controls (ITAC), identifying risks, documenting control deficiencies and following up on remediation actions. The job holder will work closely with the Team Lead and external service providers in continuous enhancement of the ICOFR program/reporting processes/ quality enhancement efforts.
Detailed Roles and Responsibilities:
- Stay abreast of and recommend to the reporting authorities the best practices pertaining to ICOFR compliance.
- Provide necessary support to the Team Lead in development and implementation of the ICOFR compliance
- program/ framework of the Bank across Business/Operations/IT General Controls.
- Perform risk assessments and test internal controls over financial reporting in compliance with ICOFR regulations and/or bank's policies and procedures.
- Assist the Team Lead with Business, Operations and IT General Controls tests, including but not limited to planning/preparing scope, gap analysis/risk assessment/walkthrough, testing and reporting on control effectiveness within the ICOFR program/framework of the Bank.
- Document for in-scope processes, walkthroughs/ process flows and test procedures/scripts for the Business, Operational and IT General controls, based on evaluation and risk assessment for in-scope processes.
- Perform and document control testing including but not limited to identification/testing of in-scope internal controls over financial reporting.
- Work closely with the process owners to perform impact assessment of control deficiencies and analyze resultant risk exposure of the Bank.
Eligibility Criteria
- Bachelor's degree in accounting, Finance, Economics, Information Systems, Engineering, or a related field.
- Master's degree in Management or a related discipline is a plus.
- 58 years of experience in the financial services or banking industry, with a focus on compliance, audit, or risk.
- Proven expertise in SOX, IT General Controls (ITGC), and compliance remediation.
- Professional certifications such as CPA, CIA, CISA, CFE, PMP, or ISO are highly desirable.
- Strong understanding of risk assessment, governance, and control frameworks.
- Familiarity with Islamic banking products and QCB regulatory guidelines is an advantage.
