Senior Internal Auditor
Public Size Commercial Bank
Total years of experience :23 years, 9 Months
- Initial planning of the job and identifying risk areas during the process, understanding the client’s business objectives, personnel and the industry in which they operate, assessment of control risk and designing the tests of controls for specific areas.
- Perform operational audits covering various branches, regional offices, lending portfolios and trade products (import / export finances and inland supply chain documents).
- Identify and analyze key risks and fraud risk factors in areas of operations (in lending cycle, deposit-taking and window dressing) while conducting risk based audit and recommend enhancement to policies and control processes in accordance with guidelines and regulations.
- Evaluate effectiveness and adequacy of AML/CFT compliance program, FATCA Requirements, suspicious activity reporting and transaction monitoring systems, and KYC/CIP policies, procedures, and processes.
- Ensure compliance with Corporate & Banking Laws, Central Banks Guidelines, Circulars, Prudential Regulations, Federal Government Duties, Taxation, Zakat and established standards, procedures, internal controls and SOPs.
- Design the substantive procedures in consultation with the engagement manager and conduct work in order to obtain sufficient and appropriate audit evidence and verifying compliance with various laws relating to client.
- Prepare detailed reports on audit findings and summaries for executive management, highlighting the area of irregularities / non-compliance, with remedial measures to remove irregularities and submit them for approval.
- Special assignments (stock valuation, inquiries and investigations) and review branches / departments for regulators/ external auditors pre/post audit compliance.
- Determine effectiveness and compliance of general, application & technical controls in the areas of application access, system/branch security, adequacy of back-up and DR/BCP training needs.
- Perform administrative tasks (audit schedule, staffing, follow-up) and provide assistance to the superior levels as well as guidance to the junior level on ongoing basis.
- Actively participate in standardization of working papers of Internal Audit and time to time up-gradation.
Key Skills Learnt during Work Experience:
Internal Audit; Compliance; Advances; Business Process Understanding; Anti-Money Laundering; KYC/Customer Due Diligence; FATF Recommendations; UN-OFAC, FATCA Regulations; Banking Laws; Prudential Regulations; Loan Classifications & Provisioning; Negotiable Instruments; Internet Banking; Islamic Banking & Finance; Mobile Banking; Risk & Compliance Management; SME, Corporate & Investment Finance; Credit Evaluation; Foreign Trade (Letter of Credits / Letter of Guarantee); Remittances; UCP600; Incoterms; URR.
Operational audits covering various branches, regional offices, lending portfolios and trade products (import / export finances and inland supply chain documents).
Evaluate effectiveness and adequacy of AML/CFT compliance program, suspicious activity reporting and transaction monitoring systems, and KYC/CIP policies, procedures, and processes.
Identify and analyze key risks and fraud risk factors in areas of operations (in lending cycle, deposit-taking and window dressing) while conducting risk based audit and recommend enhancement to policies and control processes in accordance with guidelines and regulations.
Prepare detailed reports on audit findings and summaries highlighting the area of irregularities / non-compliance, with remedial measures to remove irregularities and submit them for approval.
Consolidate the observations/findings of other team mates and re-draft / refine report with suitable recommendations, references and guideline.
Special assignments (inquiries and investigations) and review branches / departments for regulators/ external auditors pre/post audit compliance.
Perform administrative tasks (audit schedule, staffing, follow-up) and provide assistance to the superior levels as well as guidance to the junior level on ongoing basis.
Determine effectiveness and compliance of general, application & technical controls in the areas of ATM, application access, e-mail, password policies, Anti Virus, system/branch security, adequacy of back-up and DR/BCP training needs.
Actively participate in standardization of working papers of Internal Audit and time to time up-gradation.
Management of Loan Portfolio of 5 Area offices and Main branch; and Reconciliation of commercial loans to the general ledger.
Analyze and prepare weekly, monthly and quarterly reports of corporate activity (i.e. monthly activity report and call plan).
Generate the delinquency reports (for 30, 60, 90, 180 & 360 days and above) on monthly basis and interrelate delinquencies with various types of customers/attributes.
Ensure compliance of Credit Policies and Prudential Regulations. Set loan limits, interest rates and maintain memorandum accounts, Cessation/resumption of interest accruals and reversals of previously established provisions.
Parallel run of books of accounts and reconciliation with newly implemented software (PIBAS plus) and manual records; deals with pre and post data migration issues and support other department for access and familiarity.
Counsels senior management on fiscal control and profitability of the branch.
Coordinate with external auditors, examiners and support internal audit requests and reviews.
Key Skills Learnt during Work Experience:
Lending Portfolio Management and Classification; Central Bank Reporting; MIS; Cost Controlling; Evaluating Income Statements; Consolidation; Analytical; Interest / Markup Calculus; Credit and Collection/Recovery; Reconciliation; Cash Management; Record / Bookkeeping; Voucher Management;
- Developing, interpreting and implementing financial concepts for financial planning and control, administering and maintaining cost control processes to track and report project budgets, commitments, expenditures and forecasts.
- Liaising and coordinating different departments such as; designing, estimation, planning and project management to conduct project feasibilities and scenario analysis
- Gather, compile, analyse, prepare and summarize data for financial projects/subjects such as project profitability, forecasting trends and transaction analysis and Advise on the results of analyses for the use in business decisions.
- Prepare (from trial balance to final accounts) and related disclosures as per applicable framework, liaise and coordinate with external auditors and different departments for the preparation of schedules & details to ensure the timely completion of Audit.
- Loan Swaps, generate further finance facilities both funded (RF/CF) and non-funded (LC/LGs) against property mortgaged and or charge creates on current assets, compliance of terms and conditions, valuation of assets/collaterals.
- Computerization of all the processes (Inventory, Sales, Purchases, Payroll, GL and Banks) by implementing financial software “Sage Line”.
- Ensure compliance with corporate and taxation laws (Federal Excise Duty, Income Tax, Sales Tax (VAT) and other municipal laws.
- Assist in the development of policies for business planning and control. Monitored invoicing, payment and recovery cycle and conduct age analysis.
- Preparing monthly management accounts, treasury reports and consolidation, further, handling Project accounting and doing financial analysis.
- Preparing Board Presentations and meeting with regional banks to obtain financing for future projects.
- Managed bank accounts, monitor cash-flow ensuring that sufficient funds are always available, arrange communication and correspondence letters and save them properly.
- Additionally worked as deputy coordinator for implementation of Quality Assurance Standard ISO 9001:2000.
- Coordinated and Prepared details for audit and act on the recommendations of External Auditors.
Key Skills Learnt during Work Experience:
- Accounts : Financial Reporting; Trial Balance to Finalization of Accounts; Interpreting Cash Flow Statements; Ratio Analysis; Corporate Accounting; Managerial Accounting; Monitoring and Maintaining Budgets; Operating Cycle Management; Payments and Settlement; Revenue Recognition; Asset Accounting; Fixed Asset Management; Inventory / Stock Control; Quantitative Analysis;
- Finance : Analysis & Valuation; Corporate Finance; CAPEX/ Investment Appraisal Techniques; Debt /Equity Finance; Financial Modeling, Foreign Exchange Management (Risk Hedging); Derivatives; Lease Financing; Mergers and Acquisition; Financial Planning Budgeting & Forecasting; Project Feasibility Analysis; Public Finance; Sensitivity Analysis; Gap Analysis; Decision Making; Strategic Finance; Treasury; Working Capital Management; Statistical Analysis; Estimating Discounted Cash Flow; Networking;
- Taxation & Corporate Affairs: Tax Planning (Individual and Corporate Level); Tax Computation; Reconciliation to Financial Accounts; Filing of Tax Returns; Monthly, Quarterly & Annual Statements; Tax Assessment; Appeals; Wealth Tax / Zakat Calculations; Value Added Tax (VAT) / Sales Tax; Organizing Annual General Meeting (AGM); Preparation of Agenda; Minutes Recording; Submission of Annual Corporate Return; Director Appointments and Retirements.
Finance of International Trade & Related Treasury Operations; Management Accounting; Lending Product, Operations & Risk Management; Branch Banking; and IT in Financial Services;
Anti Money Laundering & Business Ethics; Advance Risk Management; Corporate & Banking Law; Financial Planning & Budgeting and Project Finance (specialization)
Trade & Forex Operations; Lending & Risk Management; Economics; Management Accounting for Financial Services and Specialization in Islamic Banking Received Cash Awards in passing the I.B.P exams in consecutive attempts
Finance and Accounts
Chartered Accountancy
Commerce
