Head of Internal Audit

My client is a leading bank in the United Arab Emirates. They are looking for a Head of Internal Audit to join their growing team.

Job Role

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.
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.
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.
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.
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 technology governance, core banking and digital channels, cyber security, data management, cloud and change management, and AI/ML and ECL models.
Review outsourcing and third-party arrangements against FSRA outsourcing requirements, together with business continuity and operational resilience.
Experience in reviewing and maintaining IAM-related documentation, including access control policies, user access matrices, approval workflows, role definitions, audit trails, and evidence of periodic access reviews. Ability to ensure documentation is complete, accurate, and compliant with regulatory and internal audit requirements.

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