Head Of Internal Audit

Head Of Internal Audit

Neemtree

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About the role

Establishing the Internal Audit Function

• Lead the transition from the current outsourced model to an in-house Internal Audit function, managing an orderly handover from the outsourced provider (audit files, open findings and the current plan) and presenting a set-up roadmap covering structure, staffing, co-sourcing, methodology and tools to the Board Audit Committee for approval.
• Establish and review annually the Internal Audit Charter and methodology, documenting the function’s organisation, authority, responsibilities and procedures in line with FSRA requirements and the IIA Global Internal Audit Standards.
• Develop a risk-based, multi-year audit plan approved annually by the Board Audit Committee, and safeguard the independence and objectivity of the function, including the management of any conflicts of interest.
• Build an appropriately sized team with specialist co-sourcing where needed, progressively introduce data analytics and continuous auditing, and maintain a Quality Assurance and Improvement Programme, including an external quality assessment at least every five years. Board, Audit Committee and Regulatory Engagement
• Serve as principal Internal Audit adviser to the Board Audit Committee, meeting it without management present at least annually and provide an annual opinion on the adequacy and effectiveness of the Bank’s systems and controls.
• Report clearly on significant control weaknesses, emerging risks and remediation progress, and escalate material issues, overdue high-risk observations and any limitation of scope or access.
• Maintain open, transparent and co-operative engagement with the Financial Services Regulatory Authority (FSRA); monitor and track FSRA and External Auditor findings through to independently validated closure; and co-ordinate with the External Auditor to ensure effective assurance coverage and minimise duplication of audit efforts. Prudential, Banking and Financial Crime Assurance
• Provide independent review of the ICAAP, ILAAP and IRAP, consistent with FSRA Prudential Rulebook (PRU) expectations, and assurance over capital, liquidity (LCR and NSFR), large exposures, profit rate risk in the banking book and the operational risk framework.
• Conduct regular independent credit audits across Corporate and SME financing, including platform-originated business, reporting results to the Board Audit Committee.
• Provide independent assurance over treasury, financial and regulatory reporting (including IFRS 9 ECL), fraud, conduct and people-related risks, including customer-facing practices, employee conduct, HR governance and controls, and the effectiveness of risk management and internal controls across both the First and Second Lines of Defence.
• Provide assurance over conduct and overall customer journey across Client Coverage processes, including the effectiveness of relevant governance, controls and practices throughout the lifecycle.
• Provide independent assurance over HR and People Risk, including key people-related governance, policies, processes and controls, and their effectiveness in managing associated operational, conduct and regulatory risks.
• Audit the Bank’s AML/CFT/PF sanctions and other anti-financial crime-systems, controls and workstreams including CDD, transaction monitoring, screening and the MLRO function, supporting the review of effectiveness and outcomes required under the FSRA AML Rulebook and local regulatory framework.
• Evaluate relevant compliance/FCC policies, procedures and training against regulatory expectations.
• Engage with the Legal Team where appropriate, in relation to audits and reviews involving legal, contractual and governance matters, obtaining relevant information and subject matter input as required to support audit activities. Shari’ah Governance Assurance
• Perform or oversee the internal Shari’ah review required under the FSRA Islamic Finance Rules (IFR), in accordance with AAOIFI GSIFI No. 3, using competent and sufficiently independent staff including the outsourced Shari’ah service provider, and co-ordinate with the Shari’ah Supervisory Board to provide assistance as required in preparing its annual report.
• Provide assurance over Shari’ah product approval, contract execution for approved Shari’ah structures, and the treatment of non-Shari’ah-compliant income. Digital Banking and Technology Assurance
• Provide assurance over technology governance, core banking and digital channels, cyber security, data management, cloud and change management, and AI/ML and ECL models.
• Working knowledge of data security and cybersecurity frameworks, controls, and best practices, with the ability to evaluate security risks, review compliance with information security policies, and ensure adequate protection of sensitive data and critical systems.
• Review outsourcing and third-party arrangements against FSRA outsourcing requirements, together with business continuity and operational
• Strong independence, professional judgement, with high integrity, objectivity and confidentiality.
• Board-level communication, influencing and constructive challenge skills.
• Strong banking and risk understanding, with a digital and data-analytics mindset.
• Ability to operate in a lean, entrepreneurial environment and build the function as the Bank scales.
• Cultural awareness and ability to lead multi-cultural teams.

Must-have skills

("CA" OR "Chartered Accountant" OR ACA OR ACCA OR "Associate Chartered Accountant" OR FCCA OR CIA OR "Certified Internal Auditor" OR CISA OR "Certified Information Systems Auditor" OR CRMA OR "Certification in Risk Management Assurance" OR CPA OR "Certified Public Accountant" OR CFE OR "Certified Fraud Examiner" OR CAMS OR "Certified Anti-Money Laundering Specialist" OR CISA OR "CIPFA")internal audit

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Neemtree hiring for Head Of Internal Audit