Specialist Internal Audit & Fraud Investigation - Emirati Talent

Job Purpose:

• Support the AVP Internal Audit and Fraud Investigation in the end-to-end processes of Fraud examination and Investigation from inception to disposition, this will include evaluating allegations and suspicious incidents detected through examination process or captured through whistle blowing, Fraud Risk Management Unit, Internal Audit, or other sources.
• Assist AVP Internal Audit and Fraud Investigation in preparing the annual audit plan for year.
• Perform fieldwork in the context of engagement planning and scope work agreed with the Line Manager. Work will be performed under supervision of team leaders, and according to IA standards and within an agreed time frame.
• Perform other special assignments, investigations, policies and standard operation procedures review, and other administrative assignments as and when requested by Audit Management.
• Audit observations are clearly presented in a draft Audit Report and to be discussed internally with the team leaders, as well as Audited Department's management and agreed on the action plan target dates, before being the final draft is presented to the HIA for final review and release.
• All field work procedures are to be clearly documented by Audit Working Papers and supporting documents, which will be saved and filed in the related IA shared folder and Teammate system.

Duties and Responsibilities:

• Supports the AVP Internal Audit and Fraud Investigation in maintaining standards for fraud monitoring, detection, case management, investigating and reporting at CBI.
• Responsible for Integrating, Managing, and collating all fraud related data across all activities and products within CBI.
• Responsible for analyzing fraud data and providing end-to-end consolidated MI reporting for all Fraud Reporting matters.
• Flags any potential critical High-Risk trends emanating from the analytics process, report such instances to the AVP Internal Audit and Fraud Investigation and provide general guidance on proposed action plans.
• Recommends preventive measures, new tools / software to improve fraud detection, prevention, investigation, and reporting activities in collaboration with Fraud Risk Management.
• Recommends improvement to the MI outputs of the various banking systems within CBI to facilitate early identification of fraudulent activity in line with the Prevention strategy in collaboration with Fraud Risk Management.
• Validates and ensures that internal and external stakeholders provide accurate and sustainable MI.
• Interacts with business and the Risk management functions involving all Fraud Risk related reporting, Key Risk scenarios and Fraud risk event reporting.
• Interacts, where applicable, with external partners such as law enforcement agencies, regulatory bodies, CBUAE, vendors, banks to validate information in relation to fraudulent activities.
• Conducts Conformance testing as per the unit's plan and reports the results of the Conformance testing in accordance with the approved SOP.
• Maintains a tracker of all investigation results to closure stage, any remediation activities undertaken by business units in respect of fraud related control failures and/or Policy breaches identified during investigations, conformance reviews or any other detection method.
• Recommends amendments to policies and SOP's where it is deemed necessary to improve counteraction of Fraud Risk.
• Participates in investigations internally within CBI and externally as may be required, in accordance with the Investigations Standard Operating Procedure as per the instructions.
• Accountable for preparation of investigation reports in accordance with the SOP as may be required under the direction of Audit & Fraud Investigation Management.
• Flags any potential or existing critical High-Risk trends or control failures emanating from investigative activity and report thereon to the Audit & Fraud Investigation Management.
• Assist the AVPs annual risk analysis to formulate risk-based audit plan for Business, Controls and Support audit activities and establishes priorities for proper risk coverage.
• Evaluates risks and internal control processes related to operations activities to ensure division's mandate and business goals are met and that professional standards are always maintained.
• Plans individual audit assignments in coordination with and under supervision of the team leaders to ensure that professional standards are maintained.
• Assess that audit plan sufficiently covers the scope, addresses key risks, and considers expectations of Senior Management
• Ensure timely completion and prompt reporting of audit assignments to the Head of Internal Audit and Senior Management.
• Audit observations are clearly presented in a draft Audit Report, with proper route-cause analysis, clear identification of the actual and potential risks, logical recommendations which should mitigate the risks identified.
• Performs any other tasks that have been delegated by line manager.

Competency Profile:

Education:

Graduate in Accountancy or a business-related field, preferably Finance or Economics

Professional / Technical Qualifications / Diplomas:

Internationally recognized accounting / auditing qualifications like CPA, CIA, CFE.

Experience:

5-8 years professional experience in fraud risk management and audit in Financial Institution or large Organization.

Specialist Skills required for the Job:

• Intricate knowledge of overall banking operations and processes. Analysis and planning skills
• Negotiation and convincing skills
• Excellent report writing skills.
• Leadership and organizing skills.
• Interpersonal / communication skills
• Proficient in the use of Microsoft Excel, PowerPoint, Word, and bank systems