Division/Department: Internal Audit Function
Grade Range: AVP to SVP
Direct Reporting to Head – RAR
Assist Head RAR in the risk assessment process and in preparation of the Annual RAR Plan & Operational Plan. Ensure execution of Annual Review Plan within the given time schedule and allocation of resources. Review work performed by Team members on a timely basis. Review Policies and Procedures and suggest amendments. Conduct special assignments and review of write-off.
Major Duties & Responsibilities to perform the Role:
- Assist Head RAR Audit in the risk assessment process and in preparation of Annual RAR Plan
- Ensure execution of Annual Review Plan within given time schedule and allocation of resources according to risk profile of auditable entity.
- Manage and monitor the overall performance of the engagement to ensure smooth completion thereof. Monitor staffing needs and schedules to ensure optimal utilization of audit resource.
- Escalation of critical process deficiencies spotted through review findings to Head RAR coupled with suggestions to strengthen critical control lapses.
- Facilitate communication with management through Head RAR to enable discussion on their concerns on audit engagements through conclusion meetings.
- Review and submit Risk Assets Review reports along with executive summaries duly prepared to the Head RAR for finalization.
- Review the work performed by RAR team thereby ensuring that issues identified have been adequately reported / escalated. Coach team members on ongoing basis to clarify their understanding on RAR Methodology and to keep them abreast of the recent developments. Identify training needs of staff and coordinate with Head RAR audit for their training.
- Review of policies and procedures and suggest amendments keeping in view the regulatory and internal requirements. Highlight significant flaws and follow up for their rectification through the appropriate forum.
- Develop and maintain a cordial and professional relationship with the internal customers and discuss workable management action plan in response to RAR findings.
- Conduct special engagements and ensure the achievement of objectivity in timely manner. Conduct reviews of Write Offs in line with the Bank’s approved policy and SBP guidelines.
- Review the engagement file to determine if the work is appropriately documented and reviewed according to the engagement plan. Ensure that the working paper file is adequately prepared for archiving.
- Ensure that all Review Reports, are released on timely basis to the concerned.
- Discussion with relevant RMG functions or other stakeholders on major CRR findings and for finalizing ORR downgrades of reviewed obligors
- Prepare periodic Reporting Package for outstanding significant deficiencies and substantive issues noted during RAR engagements for Head RAR with updates as to Management Action.
- Preliminary data gathering for the planned reviews, annual budgeting and planning exercise and preparation of bi-annual CAR reviews.
- Any other assignment given by the 1st / 2nd Supervisor.
Relevant Experience: Minimum 8 Years of experience of any commercial bank out of which 05 years must be with RAR-Internal Audit Function of a Commercial Bank as a supervisory role.
Qualification: MBA/M.Com/MSc in Accounting/Finance/ Mathematics/ Statistics etc. from an HEC Recognized University or Preference will be given to ACCAs/CIAs/ACMAs/CAF/CA/CFA/FRM.