Avp & Audit Manager Risk & Global Markets

1 month ago

Abu Dhabi, United Arab Emirates First Abu Dhabi Bank Full time
Company Description

Join the UAE\'s largest bank and one of the world\'s largest and safest financial institutions. Our focus is to create value for our employees, customers, shareholders and communities to grow through differentiation, agility and innovation.

We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry.


Participate as well as lead audits covering the activities and processes of Risk and Global Markets across the FAB Group. Thorough understanding of business/ relationship aspects, product dynamics, Market, Operational risk management, CAR, SACCR, RRP, FIRB, ICAAP processes and the regulatory environment, 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. Participate in audit teams performing risk-based audits of the Risk Management units (Operational, Fraud, Credit, Market, Capital Management, International Locations) and specific risk domains / themes; Related support functions, ensuring that governance, risk management and controls are in place to mitigate the inherent risks of the business. Share skills and knowledge with Audit teams. Utilize available GIA tools for completion of audits. Act as the day to day contact with teams in ERM space. The role holder is expected to play a significant role in identifying and advising the management the overall risk level/direction of the Group, ensuring that laid down procedures are followed, assuring the management that internal controls, accounting systems and enterprise risk management framework are effective in design and operation. Provide input to GIA on issues that have impact on the FAB Group as a whole. KEY ACCOUNTABILITIES:

Strategic Contribution Assisting in the audit of FAB Group\'s ERM and related activities in the UAE and across the international network (functional). Ensure that business, product and market and operational risk as well as ICAAP & CAR 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. Inform Head of Audit of any potential delays and/or changes to the Annual Plan. Establish risk universe for internal audit and providing inputs for approval from Board Audit Committee and Providing inputs to annual risk-based internal audit plan for audits of Group Risk Department including providing inputs to define audit scopes, objectives and Terms of References. Ensure that Bank\'s assets are safeguarded by evaluating controls around the same in light of Bank\'s internal audit guidance and Group Fraud Risk Management Policy . 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 organization\'s values and ethics in all activities within the team to support the establishment of a value driven culture within the bank. Budgeting and Financial Performance Monitor the financial performance of given areas of activities 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 desks within the ERM business and related risk management activities in all the jurisdictions in which the Portfolio operates to define and maintain the Audit Universe. Coordinate with other teams to ensure efficient and effective coverage. Add value by suggesting business and process improvements, cost efficiencies opportunities, budget controls, automations, operational efficiencies etc and monitoring the progress of remediation against outcomes of audits Prepare and maintain a Risk Assessment of each of the Process Streams within ERM 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 ERM space and assess if: Divisional/Unit Line management have identified and classified the risks in their activities. 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. Improvements/enhancements to the governance, risk management and internal control structure are required. Data and transaction processing meets the required standards of reliability, integrity and availability. The Division\'s/Unit\'s assets are being safeguarded. The use of resources is efficient and effective. Draft audit worksheets/ audit report submitted by auditors are properly reviewed and finalized. Audit Worksheets/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 F&T 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 Unit management and that all corrective actions are fully and properly implemented. Conduct any investigations/special reviews assigned by Head of Audit/GCAO. Reporting

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

Job Context Participate as well as lead audits covering the activities and processes of Risk and Global Markets across the FAB Group. Implement Automation to optimize FTE resources available for Continuous Monitoring. Develop Data Analytic based MIS to enable detection of concern areas in different aspects of bank operations. Utilize the findings from Continuous Monitoring as key inputs in the periodic Risk Assessment exercise / Universe definitions/ Ongoing Audits. Thorough understanding of business/ relationship aspects, ERM and GM control dynamics, ERM & GM risk management processes and the regulatory environment, both in UAE and other relevant jurisdictions where FAB operates Formalize audit observations & recommendations and track these to closure. Demonstrate Tangible benefits to the stakeholders as Positive outcomes of Continuous Monitoring. Maintain up to date knowledge and understanding of ERM & GM control processes and CBUAE regulatory reporting developments, drive necessary changes in Audit plan/working programs. Safeguard against potential loss and contributing to the Units/Departments systems and procedures, by reporting whether ERM & GM governance & controls of FAB standards are effectively carried out and are efficient in the units/departments audited. Review the ERM & GM functions of the bank end to end and identifying areas of correction / improvement. Examine and comment on the process for the early recognition of problems (if any) and their remedial management to minimise the loss. Contribute towards the enhancement of relationship between GIA and stakeholders. #LI-MA3

Qualifications

Minimum Qualification Bachelor\'s degree in Business Administration. Relevant post-graduate qualification and/or relevant professional qualification and/ or certification desirable. Minimum Experience Not less than 12 years\' relevant experience in a large bank or reputed consulting practice. Working knowledge of Banking fundamentals, ERM & GM activities and processes and associated risks. Working knowledge of bank and audit policies and procedures, as well as Central Bank regulations, if relevant Self-directed, able to manage multiple tasks and ability to work under pressure. Proactive, problem solver, people skills, English report writing, excellent MS Excel skills. Good analytical skills. Good verbal and written communication skills.

First Abu Dhabi Bank

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