Internal Audit Quality Assurance Specialist

Position Overview

We are seeking a highly motivated and detail-oriented Internal Audit Quality Assurance Specialist to join our team at Riyad Bank. In this critical role, you will be responsible for ensuring the highest standards of internal audit quality across all operations, aligning with the Institute of Internal Auditors (IIA) standards and industry best practices. Your expertise will drive the continuous improvement of our internal audit methodologies, processes, and governance frameworks, while fostering a culture of excellence and accountability within the organization.

Key Responsibilities

Quality Assurance and Compliance

• Conduct comprehensive quality reviews of all aspects of Riyad Bank’s Internal Audit function to ensure adherence to IIA standards, the Code of Ethics, and industry best practices.
• Perform periodic assessments of the Internal Audit (IA) methodology and audit templates to ensure robust and consistent audit practices are adopted across the department.
• Develop and implement the Quality Assurance and Improvement Program (QAIP) to maintain high standards of audit quality and ensure accurate reporting to the Board Audit Committee (BAC).
• Act as a liaison for External Quality Assurance Reviews (QAR) mandated by the IIA, facilitating seamless coordination and collaboration with external assessors.

Policy Development and Operational Excellence

• Collaborate with Internal Audit leadership to develop, refine, and implement departmental policies, processes, and procedures that align with IIA standards and regulatory requirements.
• Perform ongoing and periodic internal quality assessments to evaluate the effectiveness of audit activities and identify areas for improvement.
• Assess the training and development needs of Internal Audit leadership and team members to enhance audit quality and professional capabilities.
• Organize and conduct workshops, training sessions, and knowledge-sharing initiatives focused on quality assurance and audit best practices.

Strategic Governance and Reporting

• Support the development and periodic review of the Internal Audit Division’s mission, goals, and Key Performance Indicators (KPIs) to ensure alignment with Riyad Bank’s strategic objectives.
• Independently monitor the efficiency and effectiveness of the Annual Audit Planning process, including risk assessment methodologies, to ensure the production of a robust, risk-based audit plan for presentation to the BAC.
• Track the delivery of the approved Internal Audit plan against established targets and provide actionable insights to leadership for continuous improvement.
• Prepare comprehensive Management Information System (MIS) reports, including financial and non-financial data, to support strategic decision-making within the Internal Audit function.

Stakeholder Engagement and Continuous Improvement

• Represent Riyad Bank’s Internal Audit function as an advocate and ambassador in external forums, industry events, and stakeholder interactions, benchmarking against best practices in the banking and audit sectors.
• Identify opportunities for continuous improvement in systems, processes, and practices, leveraging international best practices to enhance audit quality, reduce costs, and improve productivity.
• Liaise with external auditors, consultants, and regulatory entities, such as the Saudi Central Bank (SAMA), to ensure compliance with regulatory requirements and foster collaborative relationships.
• Pursue professional development opportunities, including internal and external training, certifications, and memberships in professional associations, and share insights with the team to drive collective growth.

Qualifications and Experience

Education and Certifications

• Bachelor’s degree in Accounting, Business Administration, Finance, or a related field. A professional audit certification such as Certified Internal Auditor (CIA) or equivalent is highly preferred.

Professional Experience

• Minimum of 5 to 7 years of relevant experience in banking audit functions, with a proven track record in quality assurance, risk management, or internal audit within the financial services sector.

Language Proficiency

• Fluency in Arabic (native proficiency) and advanced English language skills are required to effectively communicate with stakeholders and prepare reports.

Why Join Us?

As an Internal Audit Quality Assurance Specialist at Riyad Bank, you will play a pivotal role in upholding the highest standards of audit integrity, governance, and compliance. This position offers the opportunity to contribute to the strategic direction of the bank’s Internal Audit function while developing your expertise in a dynamic and challenging environment. You will work alongside a team of professionals dedicated to excellence, innovation, and continuous improvement, making a tangible impact on the bank’s operational and financial success.