Job Description

Specialist, Audit – Group Finance & Treasury
 

Participate in audits covering the activities and processes of Finance and Treasury (F&T) across the FAB Group. Thorough understanding of business/ relationship aspects, F&T control dynamics, F&T risk management processes and the regulatory environment, both in UAE and other relevant jurisdictions where FAB operates. Provide assistance to supervisors and to perform audit activities in line with the established internal audit plans, guidelines and procedures.

Key Accountabilities

Strategic Contribution

• Assisting in the audit of FAB Group’s Finance and Treasury functions and related activities in the UAE and across the international network (functional). Furthermore, Group Subsidiaries under Group Finance and Treasury governance will be covered.
• Ensure that Finance and Treasury 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 Planned audits.
  

People Management

In Undertaking Audits

• Promote 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

• Assist in monitoring 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 Units within Finance and Treasury portfolio in all the jurisdictions in which they operate to define and maintain the Audit Universe. Coordinate with other teams to ensure efficient and effective coverage
• Assist supervisors in preparing and maintaining a Risk Assessment of each of the Process Streams within the Finance & Treasury unit and applicable subsidiaries (e.g. international entity) as identified in the Audit Universe.
• Assist in establishment/update and maintenance of Audit programs in the central audit management tool.
• Conduct audits of the Processes within the Finance and Treasury 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 meet 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 and issues.
• Provide assistance to supervisors in discussion and finalization of issues and negotiation with Unit management to agree a documented Management Action Plan to resolve the issues raised.
  

Continuous Improvement

• Assist the supervisors in 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

• 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 organization are delivered in the most effective manner.
• Assist supervisors in providing ongoing consultancy/advice to Unit management from a governance, risk management and control perspective for improvements in their processes to ensure effective and efficient controls.
• On an ongoing basis, assist Line Managers in following up on pending audit issues with Unit management and ensure corrective actions are fully and properly implemented.
• Assist in 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

Specific Accountability

Ensure that: –

• Each assigned audit is planned in detail by conducting risk assessments, developing an understanding of activities, and allocation of audit work to assigned team members.
• Each assigned audit is planned to ensure that the scope and terms of reference of each audit provides adequate and appropriate coverage.
• Audit work is performed efficiently and effectively by focusing on the risk areas identified at the planning phase and in fieldwork.
• Audits are performed in accordance with approved audit programs, utilizing internal and external resources provided by VP/SVP in a professional manner, in order that audits are executed on time and within budget.
• All audit work and programs comply with the policies and procedures laid down in the GIA Manual, standards set by the IIA and market best practices, where applicable and are produced in a timely manner during fieldwork.
• Any loss of documents, misappropriation of funds, thefts, frauds, and financial loss should be immediately brought to the attention of GIA Senior Management.
• Discussions are held with Unit management to verify facts and obtain explanations of and reasons for apparent deficiencies.
• Appropriate use of electronic working papers, audit tools and sources of knowledge (by self and the team).
• Evidence is obtained, analyzed and appraised as a basis for an informed, objective opinion to evaluate the effectiveness of the key controls and efficiency of performance of the Unit being audited. Review appropriate transactions, documents, records, reports to confirm their accuracy and effectiveness and record all findings in a manner that provides relevant and reliable evidence to support conclusions.
• Findings are discussed with team members / Unit staff and delivered in a timely manner. Material issues identified are discussed with team members and escalated to GIA Senior Management as identified.
• Formal report is prepared at the end of each Unit review and submitted to HOA/SVP. Report should contain issues written in a concise and compelling manner with clear indication of the risks and impact for the Unit management. Negotiate with Unit management to agree a documented Management Action Plan to resolve the issues raised.
  

All interactions with the team and Unit staff are conducted in a professional and objective manner.

Qualifications & Experience

Minimum Qualification

• Bachelor’s Degree in business administration specialized in Accounting
• Banking & Finance International Certificate (Foundation, Intermediate, and specialized in Risk).
  

Minimum Experience

Good verbal and written communication skills.

Working knowledge of Finance & Treasury 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.

Good analytical skills.