Company Description
RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a Public Joint Stock Company based in the United Arab Emirates (UAE). It was founded in 1976 and is one of the oldest banks in the UAE. The Bank operates within retail and corporate banking, offering a range of services including personal and business banking, credit cards, loans, investment services, and wealth management.
In the recent years, the Bank has achieved significant milestones which includes being named as one of the world's best banks by Forbes ME (2022) and was awarded UAE's SME Bank of the year by the Asian Banking and Finance Awards. The Bank has been successful in achieving the highest profitability and lowest cost of risk since 2015. It has also seen significant growth in its acquiring business, card spending, and business loans.
We are a diverse team comprising of over 3,000 employees from across 58 countries. We make conscious efforts to build talented and diversified teams and encourage people to develop their full potential. We are committed to providing a working environment that promotes work-life balance, career development, recognition and security for the future.
In line with our strategy, a major part of our transformation journey is to future proof our bank and establish ourselves as a ‘Digital bank with human touch’, for our customers.
So join us in co-creating the future of RAKBANK!
Job Description
We are currently looking for Assistant Manager who will be an integral member of the Group Internal Audit team and contribute to the delivery of the annual audit plan by independently leading and participating in the execution of risk-based audits, performing ongoing business monitoring and risk assessments of assigned business areas.
Supports the Head of Audit / Group Chief Internal Audit Officer to provide high quality Internal Audit services to the RAKBANK group, through the following activities:
- Assist Audit Management in identifying high-risk auditable entities for annual audit plans.
- Independently lead and perform audits using advanced techniques and data analytics.
- Identify high-risk areas, scope in critical issues, and de-scope lower-risk areas.
- Ensure high-quality audit fieldwork, adherence to IIA standards, and timely reporting.
- Continuously engage with stakeholders to assess business risks and recommend audit improvements.
- Follow up on Internal Audit and regulatory remediation processes.
- Challenge existing procedures and support business enhancement through audits.
- Coach, mentor, and provide constructive feedback to audit team members.
- Participate in refining audit methodologies and ensuring quality compliance.
- Conduct investigations and business advisory engagements when required.
- Recommend audit ratings for final approval by senior leadership.
- Maintain well-documented audit files for transparency and regulatory review.
Qualifications
- Bachelor’s degree in risk management, accounting, finance or similar
- ACA, ACCA, CPA, CIA, CISA, CFA, CRC, CRMA, ACAMS, FRM and / or other risk management certification is preferred.
- At least 8 years senior level Audit experience in areas not limited to Retail and Commercial Banking, Corporate Banking and Financial Institutions.
- In-depth understanding of the end-to-end trade lifecycle including policy & product development, sourcing & onboarding, underwriting (credit assessments and approvals), operations, monitoring (transaction, account, and portfolio level) and remedial
- Excellent understanding of regulatory requirements expected by CBUAE and other areas such as Basel requirements, credit risk, AML risk, operational risk, IT controls etc.
- Experience of core banking applications like Finacle and other surround systems like Moody’s Rating, Data analytic tools, etc.
- Proficient with Microsoft Office applications (Word, Excel, PowerPoint, Visio).
- Knowledge of IIA standards, audit principles, practices, and methodologies.
- Experience of liaising, and building strong, credible & effective working relationships, with very senior stakeholders.
- Experience of leading audits / projects / initiatives and supervising and reviewing work of junior team members.
- Experience of coaching and developing professional skills of team members.
Additional Information
What’s In It For You:
- Pay for performance culture (Competitive and performance-linked compensation)
- Provision of medical care plan for your family and you
- Comprehensive Life insurance plan
- Diverse workforce and inclusive culture
- Career development and growth opportunities by design
- Work with the best minds in the field
- Get opportunities to bring your whole-self to the organization and perform to your best
