Internal Audit Manager - Treasury

About the Role

This position is responsible for overseeing the internal auditing activities of Riyad Bank's treasury and related business functions. The role involves participating in all phases of audit assignments—planning, execution, reporting, and closure—with the goal of safeguarding the bank's internal controls by implementing effective audit programs. The incumbent will manage an internal audit team that reviews the bank's operations and controls to identify risks, ensure policy compliance, detect fraud, and enhance controls.

Key Responsibilities

• Implement and monitor compliance with approved departmental policies, processes, and procedures, providing guidance and oversight to subordinates to maintain controlled operations.
• Support the Head of Internal Audit Unit in the supervision of daily audit activities to ensure adherence to policies and processes.
• Collaborate with the Head of Internal Audit Unit to develop audit plans integrated with the bank's overall audit strategy to evaluate policy compliance and risk mitigation.
• Oversee the execution of audit programs, ensuring timely detection, reporting, and investigation of violations and fraudulent practices.
• Lead audit teams to verify that all transactions within the Internal Audit Unit are authorized, valid, and comply with bank policies.
• Review auditors' reports for accuracy, comprehensiveness, and value-added recommendations.
• Coordinate audit findings with business units and liaise with Risk, Legal, and Compliance departments to address identified issues and reduce vulnerabilities.
• Maintain communication with internal and external parties (including legal and external auditors) to ensure appropriate actions against fraudulent activities are taken.
• Provide independent, informed opinions on compliance with internal policies to senior management and audit stakeholders.
• Assist in preparing accurate and timely reports for the bank and internal departments to meet company standards.
• Promote audit awareness within the bank by informing stakeholders about relevant legislation, emerging trends, and audit-related impacts.
• Drive continuous improvement initiatives by identifying opportunities to enhance systems, processes, and practices based on international best practices with a focus on efficiency, cost reduction, and productivity.
• Lead change management efforts to update departmental methods in response to evolving international standards and business environment changes.
• Represent the audit function in internal and external committees and meetings to ensure timely resolutions on relevant matters.
• Manage and develop staff by setting clear objectives, providing regular performance feedback, conducting annual appraisals, and focusing on the career development of Saudi nationals.
• Ensure recruitment, training, and development of Saudi nationals in compliance with organizational goals.
• Promote adherence to safety, quality, and environmental policies within the audit department to ensure employee safety and legislative compliance.
• Perform other related duties as assigned.

Qualifications and Experience

• Bachelor's degree in Accounting, Business, or a related field is required.
• Postgraduate qualification such as an MBA from an internationally recognized business school is preferred.
• Professional certifications like CIA (Certified Internal Auditor) and CSAA are advantageous.
• Full professional accounting qualifications such as CPA or an equivalent certification are preferred.
• Minimum of 7 years of relevant experience in banking audit functions, including at least 4 years in progressively responsible managerial positions within audit.

Language Proficiency

Advanced proficiency in English is required.