Audit Committee Member
Tamweel Aloula
Total years of experience :15 years, 10 Months
Highlights:
• Spearheaded the development and management of the assurance team in Al-Akairia.
• Led the Internal Audit Function thereby successfully achieving set departmental objectives.
Responsibilities:
• Lead audit assignments to ensure compliance in financial & operational areas and participate in compliance audit reviews as well as performance reviews.
• Focus on deploying robust audit procedures to enhance the potential of risk management, internal control, and corporate governance processes with respect to the departments.
• Review the performance and risks by examining the efficiency, effectiveness as well as economic and financial activities of subject entities, while ensuring their compliance with laws, regulations and governance rules.
• Assess the Internal Audit function to ensure effectiveness of risk management activities, control and governance.
• Identify and evaluate the entity’s risky areas and accordingly design audit plan that can be followed to facilitate audit work and verify internal control procedures that are followed by the company.
• Draft and submit internal audit reports based on the findings, with the inclusion of realistic improvement recommendations for deficient controls.
• Prepare solid process improvement and change management plans to overcome the operational inconsistencies identified during the audit.
• Interact with various support teams pertaining to deployment of internal audit resources for accomplishing audit objectives.
Highlights:
• Led the Accrual Accounting Transformation Project by developing and maintaining accounting and financial reporting system to ensure timely and accurate reporting of financial information to the key stake holders of the company.
• Achieved the key departmental objectives by solely and efficiently leading the department.
Responsibilities:
• Conceptualized and implemented robust financial planning measures to ensure business growth, attain operational excellence and improve existing processes.
• Mentored skilled individuals to perform day-to-day financial administration tasks, optimize available resources to maintain cash flow, prepare periodic reports, implement business strategies, etc.
• Maintained effective coordination with internal stakeholders for the formulation of strategic vision necessary to acquire and fulfill large scale contracts or client orders.
• Perform cost work analysis using best-in-class methodologies with a view to streamline financial management operations and provide decision making support.
• Render financial perspective with regards to various commercial activities of the group and assist senior management in mission critical decision making.
Highlights:
• Developed the Risk Based Audit Framework, Audit Follow up Framework, Audit Projects Dashboard and the time sheet system.
• Introduced “Management Self-Identified Issues” which helped the client to be more open with the audit department thus, enhancing the accuracy of internal control assessment in the audit report.
Responsibilities:
• Strategized and prepared audit plans to assess every system and process in the company and collaborated with senior departmental managers to determine the scope of audit with regards to the overall business strategy.
• Ensured compliance with standard business practices, administered the code of conduct and maintained adequate adherence as per corporate governance requirements by developing, reviewing and implementing the internal audit manual.
• Ensured implementation of annual plans, discussed process changes and revised action plans with departments on conclusion of audits and oversaw loop closure for items listed under the non-compliance category; submitted finalized recommendations and reports to the management.
• Ascertained compliance with relevant regulations “SAMA” by reviewing the audit process and delivering a comprehensive, ongoing risk-assessment.
• Prepared audit reports, outline key findings affecting operations, explain the effectiveness of internal control measures, and notify the management of modifications required in processes to increase accountability and compliance levels.
• Recommended corrective action plans, provided status updates to the top management on improvements achieved and on elimination of non-conformance in the prescribed manner.
Highlights:
• Achieved significant increase in quality assurance by effectively utilizing the Computer Assisted Audit Techniques.
• Served as Audit Champion in Finance, Market and Model Risk areas.
• As a trainer for the audit team, devised various training programs to explore and expand their capabilities.
Responsibilities:
• Led complex audit engagements for clients across diverse sectors to ensure compliance in financial & operational areas including Business, Branch, Risk, Credit, Finance, Model Risk, Compliance, AML, Market, IT, BCM.
• Performed tests of controls as well as detailed analytical procedures and substantive testing, scrutinized internal control systems and identified areas for process improvement.
• Identified risks and assisted the management on corrective action plans to mitigate the risks by evaluating the implementation status of various regulatory instructions such as SAMA, CMA, SABB policies and affiliating HSBC’s Best practices.
• Performed detailed review of financial statements keeping in mind the reliability and relevance; checked the accounting and financial records of the company to identify any errors of suspicious activities.
• Represented the audit function and provided audit feedback on various risks and challenges faced by the Bank; e.g. Model Risk, IFRS9 and Tax Reporting.
Responsibilities:
• Planned, scheduled and conducted audit assignments right from the initiation stage to report generation, submission and closing in a successful manner.
• Served as the focal point for Internal Audit Manual related queries and implementation.
Responsibilities:
• Reviewed internal audit process and performed financial, operational and compliance audit for the organization.
• Conducted end-to-end assessment of existing processes to identify financial as well as operational risks followed by recommendation of improvement measures.
• Identified and communicated issues raised during the audit to relevant parties and offered recommendations to overcome operational risks.
• Involved in the formulation and development of audit programs, testing procedures and report generation practices to support critical decision making.
Responsibilities:
• Established and maintained the department’s balanced scorecard and applied communicating strategy outcomes through reports to audit management and HR committees.
• Ensured timely completion of audit assignments by prioritizing tasks, conducting regular follow-ups with team members and guiding team members to execute them.
• Conducted unannounced inspections to confirm compliance with designed controls and framework.
• Prepared audit reports, outlined key findings affecting operations, explained the effectiveness of internal control measures, and notified the management of modifications required in processes to increase accountability and compliance levels.