Requirements
Bachelor's Degree in Accounting, Finance, Auditing, Economics, or a related field. Professional qualification such as CIA, CPA, ACCA, CA, CMA, CISA, or equivalent preferred. 5 - 10 years of experience in the insurance sector, with strong knowledge of UAE regulatory requirements, including CBUAE regulations, AML, and CTF. Experience in planning and executing financial, compliance, and operational audits, assessing internal controls, risk management, and governance frameworks.
Description
The Senior Financial Auditor will plan, execute, and report financial and operational audits across insurance-related business functions. The role requires strong experience in the insurance sector, in-depth knowledge of UAE regulatory requirements, particularly those issued by the Central Bank of the UAE (CBUAE), and the ability to assess the effectiveness of internal controls, risk management processes, and governance frameworks.Audit Planning & ExecutionDevelop and execute risk-based internal audit plans covering finance, underwriting, claims, investments, reinsurance, actuarial, and operational functions.Conduct financial, compliance, operational, and regulatory audits in accordance with approved audit methodologies and professional standards.Evaluate the adequacy and effectiveness of internal controls and recommend improvements.Perform testing of financial transactions, accounting records, reconciliations, and regulatory reporting processes.Identify control weaknesses, financial risks, and process inefficiencies.Assess compliance with applicable CBUAE insurance regulations, circulars, guidelines, and prudential requirements.Review adherence to UAE insurance governance, risk management, conduct, and solvency regulations.Evaluate compliance with Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), sanctions, and financial crime requirements.Monitor changes in CBUAE regulations and assess their impact on business operations and controls.Review financial statements and accounting practices to ensure compliance with IFRS and regulatory requirements.Evaluate capital adequacy, solvency, reserving practices, investment controls, and financial risk management processes.Assess risk identification, mitigation, and reporting mechanisms within the organization.Prepare detailed audit reports highlighting findings, risk ratings, root causes, and recommendations.Present audit findings to senior management and audit committees.Track and validate remediation of audit findings and management action plans.Build effective relationships with business units while maintaining independence and objectivity.Support the enhancement of the Internal Audit function through data analytics, automated audit techniques, and best practices.Provide advisory services on control design, regulatory compliance, and governance matters.Mentor junior auditors and support knowledge-sharing initiatives.QualificationsBachelor's Degree in Accounting, Finance, Auditing, Economics, or a related field.Professional qualification such as CIA, CPA, ACCA, CA, CMA, CISA, or equivalent preferred.5 - 10 years of experience