Chief Internal Auditor
Al Jaber Group
مجموع سنوات الخبرة :40 years, 4 أشهر
Special Advisor on MENA Management Consultants Projects
Enterprise Risk Management & Internal Audit Quality Assurance Advisor for Deloitte & Touche. Prior to that, worked as an Advisor for the US Consulting Firm Protiviti on various private sector companies and governmental agencies assignments in the areas of internal audit, process mapping/reviews, internal control policies and procedures reviews, as well as, fraud and embezzlement investigations.
1. Established and successfully managed a new internal audit function for this rapidly growing $18 billion bank after such responsibilities were outsourced to a major external audit firm.
2. Recruited and trained a new 16 member internal audit team and significantly (40-50%) increased annual internal audit coverage consistently, including yearly coverage of all 40 retail / 7 Islamic branches and all business critical 27 IT system applications.
3. Collaborated closely with the Risk Management and IT in establishing a new comprehensive risk-based internal audit short/long-term plan, including Islamic Sharia’ & CB Regulations Compliance.
4. Reported directly to the Audit Committee and introduced major changes to internal audit reports and the Internal Audit Protocol Policy, thereby improving focus on high risk issues and achieving more timely reporting to the Audit Committee.
5. Increased Fraud and Embezzlements special investigations leading to major improvements in internal policies/procedures, increase in employee compliance awareness and enforcement of the system of transparency and accountability.
6. In 2008 & 2010, co-sponsored/lead with senior partners of multinational consulting firms two major Enterprise-wide Risk Analysis and Market/Credit Risk Reviews covering the bank’s $16 Billion Corporate Lending Facilities, Investment Portfolio, Conventional Retail & Islamic Sharia’ lending and other areas.
7. Significantly contributed to introducing improvement ideas/internal controls to rectify weaknesses highlighted in annual Qatar & Oman Central Bank Examiners Reports covering Commercial bank of Qatar and National bank of Oman - which is 35% owned and advised by Commercial bank.
8. Worked closely with the Audit Committee Chairman to strengthen the internal audit function independence, achieve closer monitoring of senior management’s improvement plans and increase frequency of audit committee meetings.
Prepared an Anti-Money Laundering (Know Your Client) Policy Manual. Drafted two Complete Policies & Procedures Manuals for the company’s core business, Asset Management and its support unit, the Operations Department. Made major contributions to the preparation of the company’s Compliance Manual.
Established the Internal Audit & Compliance Charter and the Administration Manual for the newly established Internal Audit & Compliance Department. Conducted two main audit reviews covering the Asset Management Group and the Operations Department and recommended improvements to rectify weaknesses in the internal control environments. Also, assessed the overall Credit, Operational and Business Risks surrounding the company’s major Brokerage subsidiary (Emirates Securities L.L.C., a top-rated brokerage firm the UAE), drafted a new Credit Policy and made significant recommendations to mitigate other operational risks. As a direct result of these control recommendations, profits generated by Emirates Securities, which represented about 20% of SHUAA Capitals’ net profits during 2005 were fully protected.
See detailed resume-Advised clients on internal controls, policies & procedures, regulatory compliance, as well as, equity/fixed income investments and long-term financial planning.
Advised US/ Middle Eastern clients on equity investments and long-term financial planning.
See detailed resume - Managed 27 employees in four departments including Accounting & Reporting/Internal Control/Human Resources & Financial Administration.
Responsible for two major re-structuring & Re-engineering projects covering 160 improvement steps.
Established a centralized Internal Audit Function for the Group.
Director of Internal Audit: Hired at the Holding Company level of the biggest Publishing House in the Middle East to establish a centralized internal audit function for the Group's six companies and provide technical advice to the company's owners.
Main achievements included the preparation of a "Road Map" for the internal audit function and issuance of policies and procedures guidelines as a basis for setting up an effective internal control system through out the whole group.
Established a database and risk module for each of the company's six subsidiaries to focus on areas of significant exposure. Issued the Internal Audit Administration Manual which covers the department’s organizational responsibilities, staff job descriptions, performance appraisal and employee growth.
Contributions outside the Group included providing The Saudi Organization for Certified Public Accountants with an in-depth research on "The Role of Audit Committee in Publicly Held Companies" and "Quality Control & Assurance Module" designed to monitor the standards of public accountants in the Kingdom of Saudi Arabia
Managed high risk audit assignments ranging between $500, 000, 000-$800, 000, 000 balance sheets.
Principal Internal Auditor - Corporate Audit
Overall duties focused on assisting the Head of Audit in resolving significant audit issues, providing senior management with advice on policies and control procedures with a specific focus on high level reviews and special projects. Major Accomplishments included:
POLICIES & PROCEDURES
Drafting an Insider Trading Policy for American Express Bank, Ltd.
Prepared a position paper on the Internal Standards Organization (ISO 9000).
Responsible for the preparation of the bank's Compliance Manual with the Federal
Reserve Bank of New York Regulations.
Assisted in-house lawyers in drafting the bank's "Know Your Client Policy" dealing
with Money Laundering Prevention.
Nominated by the bank's General Auditor to make a presentation at the French Police
H.Q. on procedures followed by U.S. companies to prevent money laundering.
HIGH LEVEL INTERNATIONAL ASSIGNMENTS
Worked extensively on the "U.S. Foreign Corrupt Act" and "Expediting Payments" policies during international bank audits.
Assisted the Vice Chairman of Amex Int'l on various overseas special assignments
relating to Saudi Arabia's Travelers Cheques Company and major loss of Am Ex and
Thomas Cook Travelers Cheques from Kuwaiti banks after the Iraqi Invasion.
Assisted the bank's senior management officials and lawyers on various litigations
related to the bank's debt-to-equity swap transactions in Latin America.
Audit Manager - American Express Bank
Responsible for planning, coordinating and supervising financial and operational audits. Managed audits of various bank branches in North and South America and Europe. These audits included private banking, treasury and lending operations in New York, as well as, commercial banking activities worldwide.
Conducted various investigations on frauds, embezzlements & money laundering schemes.
Audited major banking clients in the US like Chase Manhattan Bank, oil exploration companies such as Schlumberger and a major Saudi Arabian Bank in Jeddah, National Commercial Bank.