AVP & Audit Manager, Compliance (Emiratised)

Role Overview

Assistant Vice President & Audit Manager, Compliance (Emiratised) at First Abu Dhabi Bank. This is a full-time position based in Abu Dhabi, UAE.

Company Overview

First Abu Dhabi Bank is the largest bank in the UAE and one of the world's largest and safest financial institutions. FAB offers a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. The organization is committed to excellence and innovation in delivering top-tier financial solutions to clients globally.

Role Purpose

Lead and participate in audits of the Group Compliance Function across the FAB Group, providing assurance to Management by identifying control weaknesses and compliance risks. Act as day-to-day contact with Management in Group Compliance, influencing change through advisory support and escalating significant audit findings in a timely manner.

Key Responsibilities

Strategic Contribution

• Assist in auditing FAB Group Compliance Function and related activities in the UAE, across the international network (functional), and across FAB Group Subsidiaries.
• Ensure Group Compliance-related audits are conducted in accordance with objectives laid down in the Annual Plan and that work programs are completed efficiently and effectively on or ahead of schedule.
• Inform Head of Audit of any potential delays or changes to the Annual Plan.
• Provide input to EVP, SVP, VP & Head of Audit, or VP & Senior Audit Manager on issues with impact on the FAB Group as a whole.
• Assist in conducting special investigations, reviews, and additional tasks as required by EVP, SVP, VP & Head of Audit.

Policies, Systems, Processes & Procedures

• Execute all tasks in accordance with established GIA Policies, Guidance Notes, Procedures, and Practice Notes.
• Provide input to the development of GIA practices in line with industry standards and regulatory expectations.
• Review all activities of units within the Group Compliance portfolio across all jurisdictions in which they operate to define and maintain the Audit Universe.
• Coordinate with other teams to ensure efficient and effective audit coverage.
• Prepare and maintain Risk Assessment of each Process Stream within the Group Compliance Functions and applicable subsidiaries as identified in the Audit Universe.
• Work with 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 Processes within the Group Compliance Function 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 or enhancements to governance, risk management, and internal control structure are required.
• Assess whether data and transaction processing meet required standards of reliability, integrity, and availability.
• Verify that divisional and unit assets are being safeguarded.
• Evaluate whether resources are used efficiently and effectively.
• Review and properly finalize draft audit worksheets and audit reports submitted by auditors.
• Discuss and finalize Audit Worksheets and Audit reports with GIA management and client within 3 weeks of completion of fieldwork.
• Negotiate with unit management to agree a documented Management Action Plan to resolve issues raised.
• Maintain up-to-date knowledge and understanding of financial crime compliance and regulatory compliance control processes and CBUAE regulatory reporting developments.
• Drive necessary changes in Audit plan and working programs based on regulatory developments.
• Review Group Compliance functions of the bank end-to-end and identify areas of correction and improvement.
• Examine and comment on the process for early recognition of problems and their remedial management to minimize loss.

People Management

• Provide guidance and on-the-job training for junior colleagues.
• Conduct knowledge sharing to facilitate achievement of team objectives and task completion in efficient manner consistent with operating procedures and policy.
• Promote the organization's values and ethics in all team activities to support establishment of a value-driven culture within the bank.

Budgeting and Financial Performance

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

Continuous Improvement

• Lead identification of change through continuous improvement of processes and practices considering global standards and changes in business environment.
• Develop proactive action plans in response to business environment demands.

Relationship Management

• Develop and 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 the organization are delivered effectively.
• Act as Audit Business Partner for Line Managers within Group Compliance Function teams.
• Actively manage relationships through regular meetings with Line Managers to promote partnership concept and identify emerging risks.
• Use meetings to discuss material gaps between audit assessment or risks and controls and the businesses' self-assessment.
• Provide ongoing consultancy and advice to unit management from governance, risk management, and control perspective for process improvements.
• Ensure pending audit issues are followed up with unit management on an ongoing basis.
• Verify all corrective actions are fully and properly implemented.
• Conduct any investigations or special reviews assigned by Head of Audit or GCAO.
• Contribute towards enhancement of relationship between GIA and stakeholders.
• Safeguard against potential loss and contribute to units and departments' systems and procedures by reporting whether Compliance governance and controls of FAB standards are effectively carried out and efficient in audited units and departments.

Reporting

• Ensure all functional reports are prepared timely and accurately.
• Meet Group requirements, policies, and quality standards in all reporting.

Qualifications & Experience

• Bachelor's degree minimum.
• Relevant post-graduate qualification and/or relevant professional qualification and/or certification desirable (such as CAMS).
• Minimum 5 years' relevant experience with an International Bank or Big 4.
• Internal Audit experience strongly preferred (but not mandatory).
• Working knowledge of Compliance Functions' activities, 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.
• Good analytical skills.
• Good verbal and written communication skills.

Additional Information

FAB offers unique career choices, a chance to innovate, and craft solutions for the future within a performance-based culture. The organization provides a range of learning and development initiatives to support all employees through training and skill development. FAB has structured plans for recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globally, rewarding hard work and dedication.