Sr. Manager - Credit Risk Audit

Job description: Job Purpose

To independently appraise the credit assessments and levels of provisioning pertaining to lending provided to the Bank’s customers (from commercial to corporate and financial institutions) by reviewing various associated credit risks. Thereafter to make suitable recommendations thereon for consideration of the appropriate approval authorities.

This is a key assurance service for the Board of Directors and management of the Bank to ensure that credit risk and provisioning are accurately stated. Furthermore it is role upon which the UAE Central Bank places significant reliance.

Key Accountabilities

Define and Develop Credit Risk Audit Plan

Independently assess the adequacy of credit-related controls across the bank that could cause credit losses to NBF. Develop the long-term and medium-term Credit Audit Plans using risk assessment criteria and ensuring compliance with all applicable laws and regulations. Continuously monitor changes to the credit risk profile of the bank and adjust plans according to changes. To draw any weaknesses or shortcomings noted to the attention of management.

Plan & Conduct Audit Assignments

Plan assignments by performing risk and control assessment to develop a Risk Control Matrix, detailing the tests required to analyse credit control effectiveness. Ensure the findings of audit reviews are discussed with management on a constructive basis in order to develop the most appropriate, proportionate solutions to issues arising. Report the results of audit reviews and conduct follow up to ensure management complete actions, escalating failure to progress actions as appropriate.

Audit Work Standards

Manage the audit work to ensure that it is performed in accordance with the standards laid out by the Institute of Internal Auditors, the bank’s audit methodology and standards, and ISO9001 requirements.

Other Accountabilities

Credit Review

Independent in-depth analysis of credit assessments for bank corporate customers based upon financial and non-financial parameters, providing assurance of adherence to credit approval limits, and compliance with the Bank’s credit policies and circulars/notices of the Central Bank.Independently review and challenge the performance and quality of the credit portfolio.

Credit Rating

Independent assessment of credit ratings based upon the bank’s and Central Bank credit grading systems.Recommend upgrading or downgrading of credit ratings based on assessment.

Credit Provisioning

Independent assessment of provisioning provided for accounts demonstrating credit stress.Recommend amendments to the loan loss provisioning based on assessment against bank and Central Bank guidelines and adopted accountancy standards.

Projects

Participate as an independent consultant in projects involving Operational/Credit/Reputational/Financial/Compliance/Legal risk as and when assigned.

Corporate Governance

Critically evaluate and report to the Board of Directors through Head of Internal Audit on the effectiveness of Corporate Governance in the bank.

Maintain Technical Competence

Maintain awareness of Operations/Credit/Compliance/Legal environment and best audit practice.

Other Accountabilities Job Context

• The nature of the role requires the jobholder to be assertive in highlighting credit risks and communicating audit concerns and recommendations to management who are sometimes resistant to perceived criticism of their area of responsibility.
• The role involves providing guidance to Guest Auditors and Management Trainees.

Education Graduate in Commerce or Finance CA/CPA/CIA/Other relevant auditing qualification Experience and Skills

Work Experience 10 years’ experience in auditing and/or credit risk in banking/financial services environment.

SkillsSound capability of understanding and performing critical analysis of corporate credit cases and credit processes, evaluating risks/controls, and making risk mitigation and value adding recommendations.Ability to make sound decisions in a timely manner.Sound knowledge of UAE Central Bank and other regulatory body rules include anti money laundering controls.An expert in Corporate Credit with ability to improve controls surrounding Operational and Business processes. Excellent Business English verbal and written communication skills, including experience of presenting to and communicating with management.Can critically evaluate new procedures and products and highlight unidentified conventional and emerging risks.Self-starter and results oriented.High degree of professional scepticism, natural curiosity and a keen eye for detail.

Technical Competencies Advisory Services- Internal Audit- Advanced Audit practice - Internal Audit- Advanced Banking Operations- Internal Audit- Advanced Credit Risk - Internal Audit- Advanced Fraud and Special Investigations- Internal Audit- Proficient Governance, Risk and Control- Internal Audit- Advanced IT and Information Security Management- Internal Audit- Basic Technical Writing- Internal Audit- Advanced Behavioural Competencies Change and Innovation - Advanced Communication - Advanced Delivering Value - Advanced Empowering and developing self and others - Advanced Evaluating and Solving Challenges - Advanced Results Orientation - Advanced Vision and Strategy - Advanced Working and collaborating with others - Advanced