Head Of Internal Audit

Role Overview

Head of Internal Audit for one of Weekday AI's clients, a regulated banking institution located in Abu Dhabi and Dubai, United Arab Emirates.

Role Purpose

Establish, lead, and oversee an independent in-house internal audit function, transitioning from an outsourced model while ensuring alignment with Financial Services Regulatory Authority (FSRA) requirements, IIA Global Internal Audit Standards, and applicable UAE banking regulations. Provide objective assurance to the Board and Audit Committee on control effectiveness, emerging risks, and regulatory compliance.

Key Responsibilities

Function Development and Governance

• Establish the in-house Internal Audit function and manage the transition from outsourced arrangements, including presentation of a structured implementation roadmap to the Board Audit Committee.
• Develop and maintain the Internal Audit Charter, audit methodology, governance framework, and risk-based multi-year audit plan.
• Ensure audit independence, objectivity, and professional standards in compliance with FSRA requirements and IIA Global Internal Audit Standards.

Board and Stakeholder Engagement

• Serve as the principal Internal Audit adviser to the Board Audit Committee, providing clear reporting on control weaknesses, emerging risks, and remediation progress.
• Engage with Boards, Audit Committees, regulators, external auditors, and senior executives with strong communication and stakeholder-management skills.

Banking and Credit Risk Audits

• Lead independent audits across credit, corporate and SME financing, treasury, capital adequacy, liquidity, financial reporting, and operational risk.
• Review ICAAP, ILAAP, IRAP, IFRS 9 Expected Credit Loss (ECL), and other relevant prudential and regulatory processes.

Financial Crime and Compliance Audits

• Oversee audits of AML/CFT, proliferation financing, sanctions screening, customer due diligence, transaction monitoring, and financial crime controls.
• Assess conduct risk, financial crime risk, and regulatory compliance across the institution.

People and Governance Audits

• Provide assurance over HR governance, employee conduct, customer-facing practices, conduct risk, and people-related controls.

Shari'ah Governance

• Conduct or oversee internal Shari'ah reviews, including product approvals, contract execution, and non-Shari'ah-compliant income, where applicable.

Technology and Digital Risk

• Assess technology governance, core banking systems, digital channels, cybersecurity, data protection, cloud environments, AI/ML models, and change management.

Third-Party and Operational Resilience

• Review outsourcing, third-party risk, business continuity, and operational resilience arrangements.

Monitoring and Quality Assurance

• Monitor regulatory and external audit findings through to independently validated closure.
• Build and mentor an effective audit team, engage specialist co-sourcing partners, and implement quality assurance and continuous auditing practices.

Qualifications & Experience

• 13+ years of experience in internal audit, banking assurance, risk management, or financial services governance, including senior audit leadership responsibilities.
• Proven experience establishing or transforming internal audit functions and developing risk-based audit plans.
• Strong understanding of UAE banking regulations, FSRA requirements, and prudential frameworks.
• Extensive knowledge of banking operations, credit risk, treasury, capital and liquidity management, financial reporting, and internal controls.
• Strong expertise in AML/CFT, sanctions, and financial crime risk.
• Understanding of technology risk, cybersecurity, data governance, cloud controls, and digital banking environments.
• Knowledge of Shari'ah governance and Islamic finance audit requirements is highly desirable.
• Professional qualifications such as CA, CIA, CISA, ACCA, CPA, or equivalent are preferred.

Skills & Competencies

• Strong leadership, analytical, communication, and stakeholder-management skills with the ability to challenge constructively.
• Ability to build scalable audit processes and introduce data analytics.
• Capability to lead multicultural teams in a lean, evolving banking environment.
• High standards of integrity, confidentiality, independence, objectivity, and professional judgement.

Additional Information

• Salary range: INR 40–70 LPA (Rs 4,000,000 - Rs 7,000,000).
• Locations: Abu Dhabi, United Arab Emirates; Dubai, United Arab Emirates.