Senior Internal Control Officer
Established in 1964 as the country's first Qatari-owned commercial bank, QNB Group has steadily grown to become the largest bank in the Middle East and Africa (MEA) region.
QNB Group's presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 28,000 serving up to 20 million customers operating through 1,000 locations, with an ATM network of 4,300 machines.
QNB has maintained its position as one of the highest rated regional banks from leading credit rating agencies including Standard & Poor's (A), Moody's (Aa3) and Fitch (A+). The Bank has also been the recipient of many awards from leading international specialised financial publications.
Based on the Group's consistent strong financial performance and its expanding international presence, QNB currently ranks as the most valuable bank brand in the Middle East and Africa, according to Brand Finance Magazine.
QNB Group has an active community support program and sponsors various social, educational and sporting events. Role Summary:
To facilitate business and assist management by conducting evaluations of the Bank to assess risk and compliance with regulations so as to ensure that the bank operates in accordance with (a) all regulatory and legal requirements and (b) all Group standards of conduct. This Position forms an integral part of the Banks 2 nd Line of Defence. The incumbent will also be performing regular and comprehensive compliance and internal control risk assessments and testing according to the approved compliance & internal control review plan. The incumbent will be required to report on a regular basis on compliance and internal control matters, identified breaches and corrective actions taken, as applicable.
Under direction of the Head Compliance, draft the Scope of Internal Control oversight as part of the annual plan and adhere to the plan by performing reviews and following up on outstanding actions. The incumbent will support & promote a strong internal control and compliance culture throughout the Branch through their actions. They are responsible for assisting by managing (on a pro-active basis) the internal control activities with the purpose of identifying and assessing the associated risks with the business activities, especially those related to regulatory and statutory requirements until resolved. Role Description:
- Determine the processes and sub-processes applied at the branch, including input, processing and output.
- Perform an end-to-end review of each process and determine relevant risks and controls.
- Undertake root-cause analysis to address and mitigate the identified risks and recommend adequate remedial action.
- Facilitate controls gap analysis, remediation planning and testing for all business units.
- Ensure that the controls are efficient and effective, thus maintaining risks at an acceptable level.
- Ensure that the processes are in compliance with regulatory requirements and best practices, at governance, oversight and operational levels.
- Provide counsel and advice to the various functions in view of enhancing the branch's control structure.
- Review the branch's policies, procedures and systems, before implementation, in order to assess the inherent risks, determine sufficiency of controls, and convey approval.
- Undertake a continuous Control Self-Assessment exercise.
- Apply the COSO integrated control framework in order to evaluate and address the adequacy of controls.
- Maintain an updated Risk Register detailing the determined risks, and relevant controls, at organization, operational and systematic levels.
- Establish an Annual Internal Control Plan that will be incorporated into the Compliance Yearly Plan catering for the processes to be reviewed and the controls to be tested.
- Perform regular and comprehensive internal control oversight and report all identified breaches and corrective action taken on internal control matters
- Prepare annual report on internal control in coordination with Management and head office.
- Prepare internal control report for every assignment conducted detailing the review objectives, scope and outcome.
- Make internal control record file of all of the branch's activities and determine the frequency of each control procedure (daily, monthly, etc.) based on the risk involved and the efficiency of current procedures.
- Liaise with local Central Bank/Regulator whenever required, response on queries and communicate issues raised by them and follow up such issues until final resolution.
- Responsible for the maintenance of a permanent file and working file. The permanent file must contain all information regarding the bank's activities and internal control reports, including the organization chart, description of procedures, important control points and previous reports. The working file must give a clear indication of the tasks performed and the steps phases followed (legible work sheets providing a clear history of chosen transactions, controls performed, problems ascertained and findings).
- Review system changes and or enhancements of Central Banks returns to ensure that the implementation is within Central Banks policies.
- Ensure the integration of new regulations and procedural amendments.
- Participate in special assignments & investigations, as and when required.
- Recommend improvement in bank's policies and procedures as appropriate to be in line with new and or amended Central Banks' regulations and statutory requirements.
- Make necessary recommendations in order to improve the security and efficiency of transactions.
- 4-6 years', experience of control/audit procedures and knowledge of compliance in banking institution (covering Retail/ Wholesale/ Treasury) or regulatory agency preferably in internal audit function.
- Bachelor degree with professional qualifications such as CCO/CPA/CIA/CA.
- Understanding of Countries Banking Regulatory environment
- Hands on experience of using local regulator systems.
Note: you will be required to attach the following:
1. Resume / CV