UAE Advise

A well-known and well-reputed Company based in Abu Dhabi, United Arab Emirates is looking for an experienced, skilled, competent, mature, qualified, creative, and intelligent candidate with significant knowledge and relevant working experience for the position of “AVP, Internal Audit”.

Company Name	Daman-National Health Insurance Company
Qualification	Bachelors Degree | Masters Degree | CA | CIA | CPA | CMA
Experience	6 – 7 years of Relevant Experience Required
Monthly Salary	6,500 AED – 7,500 AED
Employment Type	Full Time | Permanent
Company Size	50-100 Employees
Benefits	Medical Insurance
Location	Abu Dhabi

Role Purpose

Standard Duties:

· Support development & implementation of Internal Audit Department Strategy and Internal Audit Plan

· Monitor performance management process that evaluates progress against departmental goals

· Responsible for a result-oriented management and development of people and resources, including provision of a strong day-to-day leadership presence involving resource allocation, monitoring, reporting, and conducting regular staff meetings

· Foster organisational culture by establishing quality awareness and service orientation and complying and implementing processes such as Project Management and Change Management

· Develop, implement and ensure adherence of Company policies and procedures

· Promote recruitment and development of UAE Nationals to contribute to Daman’s strategic goals

Department specific:

· Play a leading role in performing complex audit assignments to ensure key controls gaps are identified and communicated to Management

· Plan, assign and supervise the daily activities and work of auditors to ensure the completion of audit assignments within time budgets

· Monitor comprehensive planning and risk assessments relating to each audit assignment to ensure that potential business risks are identified

· Perform quality reviews on all audit planning documents (detailed scope letters, risk registers, control checklists, meeting minutes etc.), control exception sheets, working papers and audit reports

· Assist Director, Internal Audit in preparing presentations for Audit Committee / Board meetings

· Manage the operations of Internal Audit Department as a deputy in absence of Director, Internal Audit

Internal Audit Charter

· Implement the Internal Audit Charter

Strategic / Annual Audit Planning

· Participate in development and review of Internal Audit Strategy, Strategic and Annual Audit Plan

· Participate in risk assessments and development of risk register for the Company

Audit Team Management and Development

· Participate in the professional development of subordinates and monitor the performance

· Participate in setting individual staff targets & professional development plan to measure performance

· Provide quarterly performance feedback to team members

· Participate in allocation of assignments under the internal audit plan to respective audit staff

· Review the budget for each audit assignment

· Provide appropriate instructions during the execution of the audit assignments

· Develop a training program for audit staff and present to Director, Internal Audit

Special Projects

· Supervise and execute special investigations / projects requested by Audit Committee

Reporting to Director, Internal Audit

· Present the findings of the internal audit assignments to Director, Internal Audit

· Provide regular feedback to Director, Internal Audit for the status of audit assignments

· Review follow up assignments conducted by auditors and report status of implementation of recommendations to Director, Internal Audit

Audit Planning

· Attend the opening planning meetings

· Review preliminary risk assessments and testing strategies to achieve objectives of audit assignments

· Review detailed scope letters to be communicated to respective process owners

· Plan and direct the use of computer software that assist in performing audit tests

· Plan the resources required and the special skills needed to execute the specific audit plan

· Monitor the allocation of the resources available to each phase of the audit assignment, internal timetable schedule and budget for completing the audit assignment

· After completing the planning of the audit assignments, review a detailed risk assessment of the area under review and update the audit plan and the testing strategy if required

Audit Execution

· Agree the final risk assessment with Director, Internal Audit and respective process owners

· Monitor that sufficient testing is done for internal controls identified in the planning phase

· Supervise the execution of the internal audit plan

· Review issues raised & management responses and recommend if issues are to be included or excluded from the audit report

· Review and sign off the working papers

Audit Reporting

· Prepare and review the draft internal audit reports prepared by the auditors

· Ensure the proper wording of the report to avoid any use of inappropriate language

· Prepare and review the rating and prioritisation of points reported

· Review Management comments in the reports

· Attend the closing meetings with respective process owners

· Prepare and review the final reports to be issued to respective process owners

· Monitor follow up assignments to ensure proper implementation of corrective actions agreed in the internal audit report

Key Requirements and Qualifications

· 6+ years of experience in auditing field (preferably in insurance), 3+ years of which as team leader

· Certified Internal Auditor (CIA)

· Bachelor’s degree in Finance, Accounting or Professional Degree such as ACCA, CPA, CA or CMA

Skills and Competencies

· Energetic, entrepreneurial, self-starter and capable of self-direction

· Dynamic, self-driven with strong business understanding and background

· Strategic thinking with strong focus on results and high quality of work; able to “think out of the box”

· Very good leadership skills including people management, selection and development skills

· Very good command of written/spoken English; knowledge of Arabic language is an added advantage

· Very good analytical, planning, forecasting, execution and problem-solving skills

· Strong level of customer service orientation and professionalism in all interactions

· Very good communication, negotiation, and presentation skills

· Experienced in managing a multi-cultural environment and promote teamwork and knowledge sharing in order to achieve goals and deliverables

Accounting & Finance