Head - Audit (Monitoring)
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Key skills for this role
About the Role
Develop and execute audit supervision strategies, ensuring compliance, risk management, and effective stakeholder communication while leading a high-performing team.
Key Skills for This Role
Full Job Posting
Overview
- Develop and execute the Division’s supervisory strategy, risk management framework and supervision plans in relation to audit firms and audit principals.
- Provide expert leadership in statutory financial audit, assurance and corporate reporting.
- Set supervisory priorities and determine risk appetite in relation to audit firms and audit principals.
- Operational responsibilities:
- Develop and ensure adherence to the policies and procedures of the RA.
- Formulate and continuously adapt the risk-based supervisory approach and ensure compliance with it.
- Lead and oversee the periodic risk assessment process for auditors and audit principals.
- Deliver the requirements of the RA’s audit monitoring strategy and framework.
- Develop and lead an annual supervision plan of auditors in ADGM that is structured and executed in accordance with the audit monitoring framework.
- Plan and lead outreach, education and guidance on audit quality, audit standards and regulatory requirements.
- Ensure risk based on-site assessments of ADGM registered audit firms are carried out including audit file reviews.
- Ensure inspections and audit file reviews are risk-focused, evidence-based, and result in clear, defensible supervisory conclusions.
- Lead in developing, setting and delivering the overall M&E monitoring strategy.
- Lead in the structured and consistent execution of the M&E framework, including to identify, assess, report on and respond to firm contraventions.
- Ensure identified contraventions from supervisory activities are appropriately responded to, including the submission of high-quality timely referrals to the RA Enforcement Department.
- Engage proactively with Enforcement to support the development of robust, evidence-based cases.
- Exercise sound supervisory and regulatory judgement in assessing breaches and determining appropriate supervisory or enforcement responses.
- Support the design and delivery of new and on-going Monitoring projects.
- Drive the use of data, analytics and digital tools to enhance risk identification, supervisory efficiency and management information.
- Leverage emerging technologies, including artificial intelligence, to enhance supervisory processes and improve efficiency, including supporting the development of scalable tools where appropriate.
- Lead RA’s independent risk-based profiling of ADGM audit entities to effectively and efficiently direct monitoring activities.
- Carry out audit monitoring activities, including outreach, education, reviews, inspections and investigations.
- Collect, collate, review and log information from internal and external notifications, as well as firm filings.
- Set, track and follow up on reminders to firms related to filings, correcting non-compliance and other monitoring operations.
- Contribute to monthly, quarterly and annual reporting by the Monitoring Department on the Audit Section.
- Build and maintain effective audit supervisory stakeholder relationships within ADGM, locally and internationally.
- Ensure timely, accurate, open and constructive communication with audit firms and stakeholders.
- Actively stays abreast of updates to relevant professional standards and applicable rules and regulations.
- Attend and contribute to the work of any international standard organisations and committees as may be required.
- Deliver additional tasks that may be delegated or assigned from the Associate Director, Monitoring.
- Operate with a high degree of autonomy, taking ownership of supervisory issues and resolving matters at source where appropriate.
Relationship Management
- Contribute to maintaining effective supervisory stakeholder relationships within ADGM, locally and internationally.
- Ensure timely, accurate, open and constructive communication with monitored firms and stakeholders.
- Confidently engage with senior audit firm stakeholders and provide clear supervisory challenge where required.
Strategic & Managerial
- Act as a senior member of the Monitoring Department leadership team, contributing to wider supervisory strategy and cross-sector initiatives.
- Creates an environment where team members consistently drive to improve performance.
- Manages team with full accountability for achieving overall agreed objectives.
- Manages by effectively empowering team members.
- Takes responsibility for mentoring high potential and most critical talent in their career progression, and for promoting continuous professional development to ensure technical competence is maintained.
- Reviews performance of team and addresses performance issues quickly through clear decisions.
- Information Security related:
- Understand, adopt, adhere and practice responsibilities or controls as per ADGM Information Security policy and as per best practices explained in the induction and awareness sessions.
- Confidentiality, Integrity and availability of the ADGM Information shall be maintained at all times i.e. within as well as outside ADGM.
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