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Head of Internal Audit & Risk Management at Confidential
Dubai, United Arab Emirates
Job Descrption
Job Purpose:
The Head of Internal Audit & Risk Management will be responsible for leading the internal audit function, ensuring the effective assessment and oversight of financial controls, operational processes, and compliance with regulatory standards. Additionally, the role will involve overseeing key aspects of treasury functions, ensuring strong financial governance, and identifying risks that may affect the organization. This role requires a strategic leader capable of enhancing audit procedures, managing treasury... operations, and mitigating financial and operational risks through sound risk management practices.
Key Responsibilities:
• Lead the development and implementation of a comprehensive risk-based internal audit plan, ensuring alignment with the organization's financial and operational goals.
• Conduct audits of financial statements, key operational processes, and regulatory compliance, providing thorough assessments of internal controls.
• Assess and test financial reporting controls, accounting procedures, and transaction integrity.
• Perform detailed audits related to cash flow management, payment processes, and reconciliation of financial statements.
• Prepare and present audit reports to executive leadership, identifying control weaknesses, financial discrepancies, and areas for improvement.
• Ensure the execution of audits in accordance with professional standards and timelines, recommending corrective actions where necessary.
• Monitor and follow up on the implementation of audit recommendations and report on progress to key stakeholders.
• Oversee treasury activities, including cash flow monitoring, liquidity management, and ensuring efficient handling of the organization's financial resources.
• Review and audit treasury-related processes, including banking relationships, cash reserves, investment portfolios, and debt management.
• Ensure strong internal controls over treasury operations and assess the adequacy of policies and procedures.
• Collaborate with finance teams to audit treasury transactions, verify compliance with policies, and ensure timely and accurate financial reporting.
• Identify, assess, and prioritize risks across the organization, particularly those related to financial operations, treasury functions, and regulatory compliance.
• Develop a comprehensive risk management framework that aligns with the company's objectives and ensures the mitigation of key risks.
• Collaborate with senior management to ensure that risk management strategies are integrated into decision-making processes and operational planning.
• Provide regular risk assessment reports to executive leadership, highlighting significant risks and mitigation strategies.
• Establish and oversee a system of internal controls that effectively safeguard assets and support the financial integrity of the organization.
• Ensure compliance with regulatory requirements, industry standards, and internal policies, especially in relation to financial reporting and treasury operations.
• Manage relationships with external auditors and regulatory bodies, facilitating audit processes and ensuring prompt resolution of any findings.
• Regularly review and update the organization's governance framework, ensuring that audit, risk management, and treasury practices are compliant with best practices and legal requirements.
Qualifications :
• Bachelor's degree in Finance, Accounting, Business Administration, or a related field (Master's degree or relevant certification such as CIA, CISA, CRMA, CPA is preferred).
• Minimum of 10 years of experience in internal audit, with demonstrated exposure to treasury and risk management, including 5 years in a leadership role.
• Strong knowledge of internal audit practices, financial controls, treasury management, and risk management frameworks.
• Proven experience in conducting audits related to treasury, cash flow management, and financial reporting.
• Expertise in developing and implementing internal audit plans and risk management strategies.
• Excellent communication, leadership, and analytical skills, with the ability to present findings clearly to executive leadership.
• High ethical standards, integrity, and attention to detail
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