Job Description
Doha Bank is currently recruiting for the role of Internal Control Officer
The Internal Control Officer will assist the Chief Country Manager, in terms of Internal Control activities of the branch. The incumbent will support branch wide business and support areas to focus on continual improvement through flagging of requisite control weaknesses and highlight the required controls for implementation by respective units. The job holder will support in necessary documentation, in alignment with bank's policies and Central Bank of Kuwait Regulations. The incumbent will conduct periodic risk / control gap assessments, report on operational loss events / incidents and, recommend modifications and corrective actions.
Duties and Responsibilities
Your main responsibilities in this role include the following:
OPERATIONAL
Keep abreast of and examine the business/ operational procedures, to assess the adequacy of internal control and risk in the branch.
Periodically monitor prompt implementation of procedures that must be performed by the users of various units within the branch.
Verify the completeness of the operational transaction documents, including daily system reports and vouchers generated.
Handle control and maintenance of litigation & NPA cases in the system.
Assess all reported Instances of non-compliance with laws and regulations. Design controls in coordination with the respective stakeholders for mitigating such instances in the future, and ensure implementation.
Follow up on the observations identified by the Internal and External Auditors and ensure timely closure of the observations in coordination with the respective stakeholders.
Maintain database of risks and controls for each unit, and liaise with the respective Unit in periodic testing of effectiveness of controls through risk and control assessment.
Coordinate with respect to Internal Control Reviews (ICRs), conducted as per CBK instructions, with the respective external auditors and business and support areas in Kuwait branch for smooth finalization of the lCR.
Investigate on operational loss events reported from business / operational teams.
Identify control gaps, accountabilities and policy violations.
Recommend control measures addressing all control gaps identified.
Record the loss events and update the CCM on deviations/ lack of proper procedural implementation and high frequency events to resolve any problems that may arise.
Assist in following-up / monitoring corrective actions with the respective units within the branch.
Assist in strengthening the risk and control environment through adequate governance and reporting mechanism.
Collect and maintain comprehensive data (viz. amount, frequency, severity etc.) on operational losses and near miss events including those related to people, processes or systems and analyze data by root cause to comply with applicable regulatory requirements.
Keep up-to-date records of all the Risk and control assessments, operational losses, KRI's, control testing results and issues.
Build and maintain strong and effective relationship with all other related units to achieve the unit goals/objectives.
Provide necessary support to the CCM in leading Internal Control projects, including but not limited to coordination with respective units, gathering information, drafting documents etc., to facilitate successful completion within the scheduled timeline.
Act as focal point of contact for the CCM Office and proactively follow up with the respective departments, for timely completion of Internal Control tasks assigned.
Liaise with the respective departments for ensuring prompt updating of policy and procedures documents, in line with regulatory changes/Internal Control or Management guidelines.
Prepare periodic and/ or ad-hoc reports, as assigned by the Chief Country Manager.
Job Requirements
University graduate with a degree in Business or Banking or Finance or any other related discipline.
Master’s degree in Management or any other related discipline will be an added advantage.
Excellent knowledge of risk Analysis & Management, including development/implementation of risk identification and measurement framework
Knowledge of risk mitigating tools and measures
External Sensitivity/ Market Awareness
Understanding of Operational Risk
Understanding of diligence requirements and compliance
Ability to perceive and analyze problems, and a capacity to make or recommend sound decisions.
Compliance & Regulatory Requirements
Stakeholder Management
Knowledge of accounting systems, process and practices
Proficiency in MS Office suite
5-8 years of total experience in financial services/banking industry, entailing responsibilities pertaining to the specific area of discipline.
Experience in operational risk in banking industry
Local experience desirable.
