Senior Internal Auditor

Posted 1 month ago
DepartmentInternal Audit
Reports ToChief  Internal Auditor
SupervisesInternal Auditor
LocationAbu Dhabi
Last UpdateAugust 2018
NationalityUAE Nationals Only

Overview

Emirates Investment Authority (EIA) is the sole custodian of the wealth of the federal government of the United Arab Emirates (UAE). The Authority owns stakes in UAE-based companies and manages a globally diversified fund. Its mandate is to protect and grow the wealth of the federal government of the UAE.

The Internal Auditor will contribute to the Audit department by bringing a systematic, disciplined approach to the evaluation and improvement of the effectiveness of risk management, control and governance processes.

Responsibilities and duties

  • Build an in-depth understanding of the EIA business and processes and how to apply effective internal audit approaches;
    • Assist the Chief Internal Auditor in preparing the overall multiyear Audit Plan and the annual Internal Audit Plan to carry out an efficient and effective audit.
      • Under guidance and supervision of the Chief Internal Auditor and Internal Audit Manager perform regular and ad hoc audits across all functions including investments;
      • Lead the planning of individual audit assignments as per the audit manual (e.g. the preparation of  notification letters, opening meeting agenda, opening meetings, audit programs and audit summary memorandum);
      • Communicate as and when required with respective managers to coordinate schedules and scope of audit;
      • Develop effective ongoing business relationship with line management;
      • Undertake audits of processes and records of all EIA departments to identify deficiencies in management of risks, or controls, duplication of efforts, fraud red flags or lack of compliance with the applicable laws, government regulations and internal policies or procedures;
      • Perform reviews of internal controls, business processes and policies to identify potential risks and to ensure their efficiency in protecting the assets and overall interests of EIA;
      • Keep abreast of professional developments and trends in internal auditing.
      • Supervise Internal Auditors, both in-house and co-sourced.
      • Develop recommendations based on the respective findings to mitigate identified risk areas;
      • Document audit findings and discuss observations and recommendations with the Audit Manager and the Chief Internal Auditor as applicable, draft the audit report
      • Report to the Chief Internal Auditor / Internal Audit Manager on regular basis, through audit status reports stating work completed, scope, materiality, findings, observations and recommendations;
      • Support Audit activities related to portfolio companies on as needed basis;
      • Ensure that audit work is being conducted in accordance with the department’s Internal Audit Manual and the Institute of Internal Auditors (IIA) Standards for International Professional Practices Framework (IPPF) for Internal Auditing;
  • Coach and mentor UAE nationals, especially in relation, but not limited to Internal Audit.
    • Perform follow-up audits of agreed actions arising from issued audit reports, and present follow-up reports at appropriate committees.
      • Assist in the preparation for the Audit Committee pack and meetings.
      • Other audit-related work as required by the Chief Internal Auditor.

Qualifications

Education

  • Bachelor Degree in Accounting / Finance or equivalent
    • Higher degree an advantage
      • Studies towards relevant professional certificates are required

Background and experience

  • 4 – 6 years of relevant experience
    • Experience in financial services an advantage
      • Knowledge of the IAS/IFRS, understanding of audit reporting, compliance and financial interpretations
      • Knowledge of the (IIA) Standards for International Professional Practices Framework (IPPF) or equivalent audit standards
      • Administration Skills
      • Experience in risk assessment
      • Knowledge in creating and developing management reports
      • Fluent in English and Arabic

Personal attributes

  • Strong problem solving skills (hypothesis-driven thinking, analytical, quantitative, conceptual skills)
    • Attention to detail and strong focus on accuracy
      • Drive to achieve, goal and results oriented
      • Comfortable to work towards tight deadlines
      • Excellent interpersonal and communication skills (oral, written, presenting) with an ability to negotiate and influence desired outcome in oral and written interaction and communication
      • Team-player with an ability to get along well with subordinates, peers and superiors
      • Self-motivated, ambitious and energetic individual with a can-do mentality and willingness to make a difference
      • Ownership, takes responsibility for all work activities and personal actions 
      • Comfort with and ability to grow and perform in a recently established internal audit function and a changing organization

The above specifications are not intended to reflect all duties to be performed within the job. The incumbent may be required to perform additional duties or projects either arising from the scope of the position or based on EIA’s overall business needs.

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