JOB PURPOSE / ROLE:
To perform day-to-day internal auditing of Riyad Bank internal controls and business practices by providing inputs to and participation in all phases (planning, execution, reporting and closure) of assignments in order to safeguard Riyad Bank internal controls through the implementation of proper internal audit programs. To manage the Internal Audit team in carrying out reviews and audit assignments of the bank's functions in order to identify areas of risk, monitor adherence to Riyad Bank's policies and procedures, detect fraudulent business activities and reinforce internal control measures.
JOB RESPONSIBILITY:
Policies, Processes & Procedures
- Implements approved departmental policies, processes, procedures, recommends improvements where required and provides instructions to subordinates and monitors their adherence so that work is carried out in a controlled manner
Day- to-day operations:
- Assists the Head of Internal Audit Unit in supervising the day-to-day operations of the Internal Audit unit to ensure that work processes are implemented as designed and comply with established policies, processes and procedures
Audit Plans & Programs:
- In conjunction with the Head of Internal Audit Unit, formulate and provide inputs on the development of the Audit plan and ensure its integration with Riyad Bank's overall annual audit plan to assess the level of adherence to the Bank's policies and procedures and identify the risks and the appropriate tools to control them
- Monitors the implementation of the Audit programs and ensures required support to the Audit team to carry out audit exercise in the area of Internal Audit Unit so that violations and fraudulent business activities can be detected, reported and investigated in a timely and effective manner
- Leads the Audit teams in ensuring that all transactions related to Internal Audit Unit are genuine, authorized, and carried out in compliance with Riyad Bank's policies and procedures
- Reviews audit reports drafted by auditors to ensure they are comprehensive and accurate in their key observations and findings, address the main audit concerns and provide value added recommendations for improvements
- Reviews audit results with various business units and in liaison with Risk, Legal and Compliance functions to coordinate and plan the identified audit observations and actions when necessary, reduce risks and vulnerabilities and increase the effectiveness of policies and operational procedures
- Ensures regular coordination with internal and external parties (e.g., concerned BU, Legal, and external auditors) to ensure that the appropriate course of action is taken against any fraudulent activities
- Provides informed and independent opinions to the audited parties, Chief Audit Executive, Head of internal Audit Section and Head of Internal Audit Unit on compliance with internal policies and guidelines
Reporting:
- Assists the Head of Internal Audit Unit in the preparation of timely and accurate reports of Riyad Bank to meet company and department requirements, policies and standards
Awareness:
- Assists in expanding the level of awareness inside Riyad Bank through keeping all stakeholders informed about the new legislation, trends and other Audit related issues that might affect the bank's effectiveness, responsibility to stakeholders and vulnerability to risk
Continuous Improvement:
- Stimulates subordinates and contributes to the identification of opportunities for continuous improvement of systems, processes and practices considering international best practice, improvement of business processes, cost reduction and productivity improvement
Change Management:
- Leads and directs the management of change through continuous improvement of department systems, processes and practices considering international best practice, changes in international standards and changes in the business environment which demand proactive action plans
Committees & Meetings:
- Represents the function and actively contributes in various committees/meetings (internal and external) as applicable and per authority levels in order to ensure relevant matters are dealt with in a timely and efficient manner
Safety, Quality & Environment:
- Ensures compliance to all relevant safety, quality and environmental management policies, procedures and controls across the department in order to guarantee employee safety, legislative compliance and a responsible environmental attitude
Related Assignments
- Performs other related duties or assignments as directed
Minimum Qualifications:
- Bachelor's degree in accounting, business or equivalent
- MBA or equivalent post-graduate qualification from an internationally recognized business school preferred
- Professional audit certificate such as CISA, and CSAA is preferable
- Fully qualified accounting professional CPA or equivalent preferred
Minimum Experience:
- 6-8 years relevant experience in banking audit function including at least 4 years in positions of progressively increasing managerial responsibilities in Audit
Language:
English: Advanced
