Role Summary

To support promoting a strong compliance culture throughout the organization

To assist in managing on a pro-active basis the compliance activities with the purpose of identifying and assessing the compliance risks associated with the business activities especially those related to regulatory and statutory requirements.

Performing regular and comprehensive compliance risk assessment and testing according to the approved compliance review plan.

Reporting on a regular basis on compliance matters, identified breaches and corrective action taken to Senior Compliance Officer.

To ensure complete and proper implementation of regulations and guidelines.

If needed, give assistance to the Senior Internal Control Officer and act as the backup for in case of his absence.

To develop and co-ordinate bank-wide continuous training courses regarding Central Bank’s regulations and statutory requirements.

Role Description

The main objectives of the internal control specialist will be to ensure:

• Efficiency and effectiveness of activities (performance objectives);
• Reliability, completeness and timeliness of financial and management information (information objectives); andCompliance with applicable laws and regulations (compliance objectives

• Functionally and administratively report to the Head of Compliance and Internal Control.
• Develop an exhaustive Annual Internal Control Plan taking into consideration the roles and responsibilities listed hereafter.
• Establish Internal Control Programs for each function and process to examine and evaluate the adequacy and effectiveness of the internal control systems.
• Develop the Internal Control Record of Work Undertaken (as evidenced by the working papers and the documentation of the reviews performed)
• Prepare the Internal Control Report, following each internal control review, indicating the findings, their risk impact, and the recommendations for adjustment.
• Establish and maintain the Risk Register that captures the control weaknesses and risks noted throughout the internal control reviews.
• Undertake periodical Follow-Up reviews to ensure that the recommended remedial actions agreed with Management are established effectively, efficiently, and in timely manner.
• Develop Internal Control Self Assessment matrices and periodically send to the entire business functions for feedback and evaluation.
• Design daily and periodical exception reports to monitor the activities of the bank.
• Provide awareness trainings to Senior Management and staff on the risk / control framework.
• Review the products and services, policies and procedures, and forms and templates.
• Review the soundness of risk management procedures and the risk areas they cover, as well as, the effectiveness of the risk assessment methodology.
• Review the controls put in place by management to ensure the relevance, adequacy and reliability of financial information and the means used to identify, gather classify and report such information.
• Review the management and financial information systems established to ensure compliance with the bank’s policies and procedures, and the banking laws and regulations.
• Review the means of safeguarding the assets and, as appropriate, verifying the existences of such assets.
• Evaluate operations in terms of its economy efficiency, and timely reporting.
• Test transactions, as well as, the functioning of specific internal control procedures.
• Carry-out of special investigations/reviews.
• Provide advice in terms of the risk / control framework and their application within the processes.

Qualifications

8 – 10 years’ experience in an internal control / internal audit in a banking environment (specifically a foreign bank / branch in the UK environment).

Degree level desirable but not essential.

Good oral and written skills, particularly in report preparation.

Familiarity with the detail contained in Bank policies and procedures.

Experience of core banking systems generally.  

Extensive knowledge of current UK regulatory requirements particularly SYSC (Senior Manager systems and Controls).

Self-discipline, well organised and also a good team player