Arqaam Capital operates out of three hubs, namely the Dubai International Financial Centre (DIFC), Cairo and Johannesburg. Arqaam Capital’s core business lines are Corporate Finance, Asset Management, Cash Equity, Credit Trading, Equity Derivatives, Capital Markets Advisory, Principal Finance, Treasury and Custody. In addition, Arqaam Capital provides in-depth research on more than 280 listed Middle East and Africa (MEA) companies across 26 countries and 15 sectors, including the largest global coverage of MENA equities.

The incumbent will establish and be responsible for the Internal Audit function of the Group, developing and delivering a robust internal audit program focusing not only on assurance aspects but also supporting continuous improvement in the firm’s policies, procedures and operational efficiency.

Arqaam views internal audit as an independent, objective assurance and consulting activity designed to add value and improve the way we conduct, support and control our business. It is predicated on a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.

Main Responsibilities

• Work with departmental heads to ensure that a system is in place to identify and assesses all major risks on an annual basis, together with the key mitigating controls.
• Establish the internal audit function including the development and implementation of an audit plan, including organising, scheduling and assigning work and estimating resource needs.
• Independently assess the establishment and effectiveness of internal policies, procedures and other internal standards for the business and support areas. There should be emphasis on the control environment, risk management and governance.
• Report findings to the Audit Committee, CEO and COO, with an emphasis on identifying control deficiencies and producing recommendations for approval that are accepted and supported by the departmental heads. This will include on-going monitoring and reviews of progress with implementation of agreed recommendations.
• To review and report on the accuracy, timeliness and relevance of the financial and other information that is provided to management.
• Coordinate coverage with the external auditors and Compliance to avoid any overlaps and manage the relationship with the external auditors.
• Alerting senior management and, where appropriate, Compliance of any major control weaknesses or risks identified as soon as they arise.
• There may be additional duties and responsibilities elsewhere in the Arqaam group and the candidate will need to remain flexible and adaptable.

Key Skills and Experience

• Must be prepared to "roll sleeves up" and undertake operational tasks as well as setting the strategy of the unit
• Excellent communication skills (Arabic language skill preferred but not essential)
• A minimum of five years post qualification internal audit experience with a minimum of three years experience of auditing large financial institutions, preferably banks.
• A thorough knowledge of the principles, procedures and practices of accounting and financial records as well as transaction booking of complex financial instruments.
• Detailed knowledge of risk based audit procedures, including planning, testing and sampling methods involved in conducting audits.
• A knowledge of computerised accounting (ideally SAP) and auditing record keeping systems
• An ability to gather, analyse and evaluate facts and to prepare and present concise oral and written reports
• An ability to maintain current knowledge of developments related to business matters of interest to internal audit, particularly legislation changes and developments as they affect investment banks, and new auditing techniques and practices
• An ability to establish and maintain effective working relationships with other staff and to communicate clearly and effectively, both orally and in writing
• A thorough understanding of banking and capital markets activities.
• An ability to work unsupervised.
• Possessing an appropriate professional qualification such as the ICAEAW, CIMA, CIPFA or CPA

Person Specification

In addition to the detailed knowledge, skills and experience specified above the successful candidate will be

• Ability to travel as required to Group office locations (e.g. Johannesburg, Cairo, Beirut)
• Results orientated individual used to working to tight deadlines with minimal supervision.
• An individual who is able to balance the high level aspects of the role, contributing to strategic decision making, whilst at the same time possessing an ability and willingness to roll up their sleeves and undertake the detailed hands-on operational aspects which arise in light of the size of the organisation.
• A strong team player with the ability to lead and motivate others and contribute to their professional development.
• An individual with highly developed communication and influencing skills.