Group Internal Audit Director
Al Daajan Group
Total des années d'expérience :28 years, 10 Mois
• Establishing an Internal Audit department, developing the Internal audit charter and policies and procedures manual.
• Performing risk assessment for the group and establish risk register.
• Developing a three-year risk-based audit plan and annual audit plan (AAP).
• Oversight of the execution of the annual audit plan AAP.
• Providing keynotes and directions to the various departments on internal control matters and carry out any tasks requested by the Audit, Risk, and Compliance Committee.
• Develop the job descriptions for the audit team.
• Direct the identification and evaluation of UMA&DAE risk areas and oversees the development of the Annual Audit Plan.
• Lead the overall performance of internal audit assignments, including planning, development of internal audit programs, identifying and defining issues, reviewing and analyzing evidence, and directing the documenting of business unit processes and procedures.
• Communicate / present the results of the Annual Audit Plan to Upper Management and the Audit Committee.
• Oversee the planning and execution of other discretionary projects pre-approved by the Audit Committee.
• Responsible to uphold standards to the Professional Practice of Internal Auditing and the Code of Ethics developed by The Institute of Internal Auditors.
• Perform a high-level review of the internal audit files for each internal audit project to verify completeness of the file, and to verify compliance with internal audit policies and procedures.
• plan and participate in fraud examination/special investigations to determine the circumstances, which enabled the situation to take place, identify responsibility for any loss or failure to comply with UMA policy and recommend enhancements to systems and/or procedures in order to minimize the risk of recurrence and issue a report to Audit Committee/BOD;
• Managed and administered Audit Department functions in line with Audit mission & objectives, evaluated the systems of Internal Control, identified control weaknesses in the system/structure and recommended enhancements to the same to overcome the identified risks;
• Directed and monitored the implementation of the approved annual Internal Audit program and modify the program according to changing requirements of the Board and Audit Committee;
• Led all Audit Department activities to ensure that all areas of JIC activities receive appropriate audit coverage as per audit assignment plans considering available resources;
• Whenever required, conducted and/or participated in fraud examination/special investigations to determine the circumstances, which enabled the situation to take place, identified responsibility for any loss or failure to comply with JIC policy and recommended enhancements to systems and/or procedures to minimize the risk of recurrence and issued a report to Audit Committee/BOD;
• Member in the investment committee for JIC pension fund;
• Prepared investment policy statements (IPS) for the JIC;
• Comprehensive analysis of investment decisions related to a portfolio of 100 million USD of shares, bonds and real estate holdings and evaluation of the performance of the investment department and the effects on the company return, risk and liquidity;
• Participated in preparing a feasibility study to establish a new insurance company in Saudi Arabia;
• Prepared financial analysis and performance evaluation reports;
• Complete evaluation of the financial and accounting systems and managing and directing the process of converting the financial system from a manual to computerized one;
• Managerial lead role in designing and implementing the restructuring of Jordan Insurance Company after fifty years of existence;
Lead role in evaluating the business development activities of the Bank, and
profitability assessment of branches by implementing different methods of
performance appraisal;
* Established the Credit Review Department (the main responsibility was to evaluate
and review different corporate loans and to develop early alarm mechanisms and
procedures on poorly performing or bad loans, based on thorough financial analysis
of the client firms);
* Review and audit corporate loans. Significant parts of the audit procedure are to
evaluate the basis of loan grants as are studies and analysis made by credit officers,
which include a wide area of corporate finance and financial analysis;
* Review of all financial procedures and reports and profitability analysis of different
departments and branches;
* Review of general and specific provisions required for the bank credit portfolio,
according to Central Bank requirements;
* Analysis and evaluation of the bank accounting/operation systems and evaluation of
internal control systems;
* Major contributions to preparing the Bank’s annual financial report by preparing
the financial analysis of operating results;
* Development and implementation of policies and procedures for internal audit
programs;
* Reviewed central bank reports and coordinate with different departments to fulfil
central bank requirements;
* Monitored credit policy and administration.