Job Purpose
To plan & ensure successful completion of assigned audit engagements, address any potential risks, deliver audit services in a timely and effective manner as well as develop sufficient communication with the Engagement Head with any raised issues in order to improve and enhance the overall operations.
Audit Engagements’ Execution
1. Ensure proper planning of assigned audit engagements and effective field work phase by participating in assigned audit engagements, ensuring adherence to the set plan timelines and consolidating and proposing recommendations
2. Participate in the issuance of final audit report by evaluating the received responses from audited units and propose replies to them.
3. Propose amendment / update to the procedures that improve controlling the function. Manages the issuance of final audit report by:
• Deliver audit services and furnish initial audit report to the line management.
• Provide recommendations to help in the improvement of Internal Control and driving greater risk awareness.
• Prepare the final audit report before being approved by his/her line management.
• Ensure that the team members perform audit missions in an efficient and secure manner guided by audit manual.
• Ensure updating permanent file after conducting the engagement.
• Ensure that Audit working papers are delivered to assigned secretary for safe keeping.
• Propose amendment / update to the procedures that improve controlling the function.
Training & Continuous Education
4. Understand the nature of business in the different areas of the bank in order to be ready for any future audit engagements.
Policies, Processes and Procedures
5. Implement approved department policies, processes, and procedures and monitor adherence so that work is carried out in a controlled manner
Day-to-day management
6. Implement the day-to-day operations assigned for the Internal Audit department to ensure compliance with the established standards and procedures
Compliance
7. Comply with all relevant CBE regulations, banking laws, AML regulations and internal CIB policies and code of conduct in order to maintain CIB’s sound legal position and mitigate any potential risks
§Bachelor's degree of Commerce, Business Administration, Accounting, economics, statistics or its equivalent.
§Soc Background is a must
§Post graduate specialized certificates or studies in the fields of internal audit or Accounting would be an asset (CPA – CIA – CBA – CISA).
§Minimum 8 - 10 years of experience in banking and/or auditing industries as per the title
§Fluent spoken and written English and Arabic languages.
§Writing, reporting, and analyzing skills.
§Delivering Results & Meeting Customer Expectations
§Awareness of various bank’s Departments and affiliates activities, business cycles, and related inherent risks.
§Prevailing Acts, regulations, circulars and instructions related to the job functions.
§Learning and researching ability.
Commercial International Bank was established in 1975 as a joint venture between the National Bank of Egypt (NBE, 51%) and the Chase Manhattan Bank (49%) under the name "Chase National Bank of Egypt”. Following Chase's decision to divest its equity stake in 1987, NBE increased its shareholding to 99.9%, changing the Bank’s name to Commercial International Bank (Egypt) S.A.E. NBE’s stake gradually decreased through several public offerings till reaching 18.7%. In 2006, a Consortium led by Ripplewood Holdings acquired NBE stake. In July 2009, Actis, a leading emerging markets private equity firm, invested US$ 244 million to get shares in CIB, acquiring hence 50% of the Ripplewood Holdings Consortium’s stake. Five months later, Ripplewood sold its remaining 4.7% stake over the open market, marking the successful transition of strategic partnership to be with Actis, who then became CIB’s largest shareholder with a 9.1% stake. In March 2014,Actis sold a portion of its holding, representing 2.6% of the Bank’s total outstanding shares, in the open market to a group of international investors. In May 2014, Actis, successfully realised its investment in CIB and sold its remaining 6.5% to Subsidiaries wholly owned by Fairfax Financial Holdings Ltd “Fairfax”.
CIB is Egypt’s leading private sector bank, offering a broad range of financial products and services to its customers, including enterprises of all sizes, institutions, households and high-net worth individuals. CIB strives to provide superior financial solutions to meet all customers’ needs. Having the strongest brand equity rightfully places CIB as the bank of choice for over 500 of Egypt’s largest corporations. CIB shows tremendous potential within the bourgeoning Retail and SME Banking markets. Through its superior management, high-operating standards, corporate governance best practices and training programs,CIB has succeeded in becoming the most profitable commercial bank operating in Egypt for more than 40 years.
