Vice President & Head of Audit-CCB-IB & Credit

Job Description

JOB PURPOSE:

In the role of a Team Leader responsible for planning and executing audits covering the activities and processes of Wholesale Banking (WB) & Investment Banking (IB) in general and Global Corporate Finance (GCF) and Global Transaction Banking (GTB) Products in particular as well as related Credit activities across the FAB Group. Thorough understanding of business/ relationship aspects, product dynamics across businesses, credit risk management processes and global industry standards and best practices. Awareness of data query tools will be an added advantage. The role is expected to 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.

Act as the day to day contact with Management in GCF/GTB as well as WB & IB Coverage and Credit Departments influencing change through providing advice. Provide input to GIA on issues that have impact to the FAB Group as a whole. Conduct special investigations, reviews, additional tasks as and when required by Head of Audit WB,  IB & Credit/GCAO.

KEY ACCOUNTABILITIES:

Strategic Contribution

• Assisting in the audit of FAB Group’s WB & IB as well as relevant Credit functions and related activities in the UAE and across the international network (functional). The person is expected to possess an expert knowledge and experience in managing GCF and GTB audits on an end to end basis.
• Ensure that business, product and credit 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.

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 organisation’s values and ethics in all activities within the team to support the establishment of a value drive culture within the bank

Budgeting and Financial Performance

• Monitor the financial performance of a given area of activity 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 the Corporate Portfolio and the related credit 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.
• Prepare and maintain a Risk Assessment of each of the Process Streams within the IB/WB and relevant Credit Portfolio 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 IB/WB and relevant Credit Portfolio 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 report submitted by auditors are properly reviewed and finalized.
• 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 the GCF/GTB across UAE & International locations 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 related to Compliance activities 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

• Safeguarding against potential loss and contributing to the Units/Departments systems and procedures, by reporting whether Credit/Operational controls of FAB standards are effectively carried out and are efficient in the units/departments audited
• Reviewing the WB/IB Coverage, Product & credit functions of the bank end to end and identifying areas of correction / improvement
• Analyse, evaluate and report the quality of assets and their classification and provisioning
• Examine and comment on the process for the early recognition of the problem  and their remedial management to minimise the loss
• Preparation / Review of Audit MIS/ dash Boards including audit committee presentation slides relating to WB & IB & Credit
• Maintain up to date knowledge and understanding of key product, processes and regulatory developments,; drive necessary changes in Audit plan/working programs;
• Contributing towards the enhancement of relationship between GIA and stakeholders
• Keeping abreast of the local and international economic trends, banking practices and regulatory prescriptions

Qualifications

QUALIFICATIONS & EXPERIENCE:

Minimum Qualification

• Bachelor’s degree.
• Relevant post-graduate qualification and/or relevant professional qualification and/ or certification desirable (CA/MBA/CFA/FRM)

Minimum Experience

• 10-15 years’ relevant experience with an International Bank or Big 4 specifically in the GTB/GCF/IB field. Internal Audit experience preferred (but not mandatory). At least 5 years in similar positions with managerial responsibilities in these areas.
• Expert knowledge of GCF/GTB activities, processes and associated risks.
• Strong leadership capability and team-oriented with highly developed problem-solving skills.
• Self-directed, able to manage multiple tasks and ability to work under pressure.
• Excellent analytical skills.
• Excellent verbal and written communication skills.

Additional Information