Internal Audit Manager
ALFARDAN EXCHANGE
Total years of experience :23 years, 9 Months
Audit exposure nearly in all segments, products, and units of the exchange company (Operational audits, Branch audits, Whole Sale Audit, Treasury, HR, Compliance, Finance, Logistic Etc.)
Schedule audits with Audit Management based on audit plan, risk priority, and manpower.
Conduct Branch Visits on Monthly Basis. (Regular Checking of Cash available at branches, checking fraudulent transactions, Payment Vouchers/ Western Union Vouchers and other operational work. Also, checking security system and functioning of other operational equipment).
Review and recommend for the updates of policies and procedures in accordance with specific organizational goals
Risk assessment and management, review including performance of testing of existing controls;
To review the systems in place and suggest improvement in compliance with those policies, plans, procedures, laws, regulations and contracts which could have a significant impact on operations and reports and to ensure that the organization is in compliance
Suggest various means/measure in strengthening the Operation System
Examine compliance to security measures implemented in the branches.
Provide risk and compliance - related report results to senior management along with recommendations for further improvement;
Coordinate with External Auditors & Central Bank auditors when required
To review the AML reports issued to ensure new / existing products and practices of the company are complying with applicable AML/Regulatory requirements
Review of Compliance and AML program to ensure proper implementation of Compliance / AML policies, procedures, and systems across the Retail bank.
Monitoring Credit limits of different Banks / Exchange Companies & Corporate Customers on daily basis and highlighting risk factors to the Top management for necessary actions.
Preparation of audit reports on monthly & quarterly basis, working on special projects/ assignments as assigned.
Checking of Foreign Banks and local banks reconciliation on monthly basis.
Monitoring compliance activities on daily basis through sophisticated built in AML software and reporting UTR / STR to the regulators on weekly basis.
Highlighting potential operational weaknesses with regards to particular products to the management and recommending remedial actions
Identifying significant operations weaknesses and Non-compliance issues to the General Manager Operations under copy to the Top management for remedial actions.
Established, maintained, and coordinated the implementation of strict internal control procedure.
Al Ansari Exchange is one of the Leading money exchange in UAE and is under operations
provider of worldwide remittance and foreign exchange services employing over 1, 500 staff
of 30 different nationalities with a network of more than 140 branches spread over 7
emirates. Responsibilities included performing internal audit, risk assessments, develop and
update risk register, audit planning and budgeting, financial due diligence, special audits,
report writing.
Internal Audit & Internal Controls
* Design Audit Program, Identification of risk areas and preparing detailed procedures to
address the risks.
* Preparation of audit reports on weekly & monthly basis.
* Ensure compliance of all units especially whole sale and branches with the requirements
of local procedures
* Ensure all big amounts >40K are being screened subject to EDD and Supporting
documents for these transactions are complete
* Surprise Branch Visits on Daily Basis. (Regular Checking of Cash available at branches,
Fawri payment Vouchers/ Western Union Vouchers and other operational work. Also,
checking security system and functioning of other operational equipment).
* Dealing with different Cash shortages/ Operational fraud cases on regular basis and
their follow it up with the staff members.
* Checking of Exchange rates applied by various branches in different products i.e.,
currencies/ remittances & other products on weekly basis.
* Checking of Foreign Banks and local banks reconciliation on monthly basis.
* Checking of Exchange Companies documentations & reconciliation on monthly basis.
* Implementation of Risk Based Internal Audit Approach with focus on the nature of
operations and the business model of the organization,
* Evaluating the adequacy, reliability, appropriateness, and integrity of Financial
Information available for management decisions.
* Evaluation of operations includes but not limited to Procurement, HRM, Project
management, Credits, Inventory management, Assets management, Marketing &
Commercial.
* Test of controls to identify non-compliances with SOPs, policies, laws & regulations and
accounting standards and suggesting recommendations to ensure compliance,
* Reporting directly to the head of internal audit and managing the branch audit as
assigned
Maintaining Entire Books of Accounts Manual and Computerized Environment.
* Preparing monthly and yearly financial statements.
* Preparing monthly sales reports and handling Inventory.
* Preparing Bank Reconciliation Statement
* Prepare the payments as due
* Prepare Trial Balance and Finalizations of Accounts
* To Calculate and Prepare cheques for Payrolls, Utility, Tax and Other Bills
* Overall authority for the financial operation of the organization and administration, audit
taxation, accounting monthly closing of books of records, account reconciliation and
journal entry adjustments, prepares monthly, quarterly and annual reports summarizing.
* Drafting Letters, Quotation, Invoices, and orders to debtors and creditors.
Industry Banking
Profile:
* Recording journal entries, Posting to the ledger
* Preparation of cash flow statement
* Preparation of financial documents for all disbursements & verification of liquidations.
* Bank Reconciliation Statement.
* Sanction Appraisal, Scrutinizing and Processing of Proposals.
* Interacting with Auditors.
* Looking after fixed deposits & with clients and agents
Audited a diverse portfolio, including private and public listed concerns involved in
trading, investment, and holding retail, manufacturing and Banking.
* Preparation and analyzing of various financial statements including income tax and
sales tax.
* To ensure financial recording accuracy and compliance with established accounting
standards, procedure, and internal control.
* Review of all documents related to Incorporation of Company, Trade Licenses, MOA, &
other necessary documents.
* Verification of Cash and Bank confirmations.
* Cross verification of accounts consideration of fraud and errors.
* Preparation of working papers and documents verifications
* Prepare detailed reports on audit findings and recommendation for improvements.
* Checking in bank audit - Loan A/c’s, Gold Loan, Non-Performing Assets, physical cash
verification, assets, and general ledgers.
Completed
afasfdfdasa