Specialist, Audit - Group Finance & Treasury

Role Overview

Specialist, Audit - Group Finance & Treasury at First Abu Dhabi Bank (FAB), based in Abu Dhabi, UAE.

Role Purpose

Participate in audits of Finance and Treasury activities and processes across the FAB Group in the UAE and international network. Develop comprehensive understanding of business relationships, Finance and Treasury control dynamics, risk management processes, and relevant regulatory environments. Provide assistance to supervisors and execute audit activities in line with established internal audit plans, guidelines, and procedures.

Key Responsibilities

Audit Execution & Planning

• Assist in audits of FAB Group's Finance and Treasury functions and related activities in the UAE and across the international network, including Group Subsidiaries under Group Finance and Treasury governance.
• Ensure Finance and Treasury audits are conducted in accordance with objectives laid down in the Annual Plan and complete work programs efficiently and effectively on or ahead of schedule.
• Inform Head of Audit of any potential delays or changes to planned audits.
• Plan each assigned audit in detail by conducting risk assessments, developing understanding of activities, and allocating audit work to assigned team members.
• Ensure scope and terms of reference of each audit provide adequate and appropriate coverage.
• Perform audit work efficiently and effectively by focusing on risk areas identified during planning and fieldwork.
• Execute audits in accordance with approved audit programs, utilizing internal and external resources provided by VP/SVP in a professional manner to ensure audits are executed on time and within budget.

Audit Assessment & Evaluation

• Conduct audits of processes within Finance and Treasury and assess whether divisional and unit line management have identified and classified risks in their activities.
• Assess whether governance, risk management, and control procedures are adequate, effective, and efficient to reduce risks of errors, omissions, and loss to acceptable levels at acceptable cost.
• Determine whether improvements and enhancements to governance, risk management, and internal control structure are required.
• Verify that data and transaction processing meet required standards of reliability, integrity, and availability.
• Confirm that division and unit assets are being safeguarded.
• Evaluate the efficient and effective use of resources.
• Review all activities of units within Finance and Treasury portfolio in all jurisdictions in which they operate to define and maintain the Audit Universe.
• Assist supervisors in preparing and maintaining Risk Assessment of each Process Stream within Finance and Treasury unit and applicable subsidiaries as identified in the Audit Universe.
• Review appropriate transactions, documents, records, and reports to confirm their accuracy and effectiveness.
• Obtain, analyze, and appraise evidence as a basis for informed objective opinion to evaluate effectiveness of key controls and efficiency of unit performance.
• Record all findings in manner that provides relevant and reliable evidence to support conclusions.
• Draft audit worksheets and issues.

Coordination & Documentation

• Coordinate with other teams to ensure efficient and effective coverage of Finance and Treasury audit activities.
• Assist in establishment, update, and maintenance of audit programs in the central audit management tool.
• Ensure all functional reports are prepared timely and accurately and meet Group requirements, policies, and quality standards.
• Ensure all audit work and programs comply with policies and procedures in the GIA Manual, standards set by the IIA, and market best practices where applicable.
• Produce audit documentation in timely manner during fieldwork.

Management & Follow-up

• Provide assistance to supervisors in discussion and finalization of issues and negotiation with unit management to agree documented Management Action Plans to resolve raised issues.
• Assist supervisors in providing ongoing consultancy and advice to unit management from governance, risk management, and control perspective for improvements in their processes to ensure effective and efficient controls.
• Assist line managers in following up on pending audit issues with unit management on an ongoing basis and ensure corrective actions are fully and properly implemented.
• Assist supervisors in identification of change through continuous improvement of processes and practices considering global standards and changes in business environment.

Reporting & Communication

• Hold discussions with unit management to verify facts and obtain explanations of and reasons for apparent deficiencies.
• Discuss findings with team members and unit staff and deliver in timely manner.
• Escalate material issues identified to GIA Senior Management as appropriate.
• Prepare formal report at end of each unit review and submit to Head of Audit/SVP.
• Ensure reports contain issues written in concise and compelling manner with clear indication of risks and impact for unit management.
• Negotiate with unit management to agree documented Management Action Plan to resolve raised issues.

Organizational & Professional Standards

• Promote knowledge sharing to facilitate achievement of team objectives and completion of tasks in efficient manner consistent with operating procedures and policy.
• Promote organization's values and ethics in all activities within team to support establishment of value-driven culture within the bank.
• Maintain effective business relationships with all relevant external and internal entities and stakeholders with highest standards of business ethics.
• Promptly attend to all critical issues to ensure services required by organization are delivered in most effective manner.
• Conduct all interactions with team and unit staff in professional and objective manner.
• Make appropriate use of electronic working papers, audit tools, and sources of knowledge by self and team.
• Execute all tasks to established GIA Policies, Guidance Notes, Procedures, and Practice Notes.
• Provide input to development of GIA practices as per industry standards and regulatory expectations.
• Immediately bring any loss of documents, misappropriation of funds, thefts, frauds, and financial loss to attention of GIA Senior Management.

Financial Oversight

• Assist in monitoring financial performance of given areas of activities versus budgets.
• Ensure all activities are carried out in line with approved guidelines.
• Promptly report variances to management.

Special Assignments

• Assist in investigations and special reviews assigned by Head of Audit or GCAO.

Qualifications & Experience

• Bachelor's degree in Business Administration specialized in Accounting.
• Banking & Finance International Certificate (Foundation, Intermediate, and specialized in Risk).
• Working knowledge of Finance and Treasury activities and processes and associated risks.
• Working knowledge of bank and audit policies and procedures, as well as Central Bank regulations, if relevant.

Skills & Competencies

• Self-directed with ability to manage multiple tasks.
• Ability to work under pressure.