The Head of Internal Control & Compliance, has overall responsibility for total administration of Internal Control and Compliance (ICC) of the bank. The position is responsible for ensuring ICC is closely aligned with industry best practices in executing the duties across the Bank’s business and operations.
The Head of ICC has to provide reasonable assurance to Senior Management and the Audit Committee of the Board that there are effective and efficient policies and procedures in place, well understood and respected by all employees, and that the Bank is complying with all regulatory requirements.
- Developing the annual ICC work plan that reflects the bank's highest risks that will be monitored by the compliance function.
- Providing guidance to the Audit Committee of the Board, senior management, staff, and employees on compliance
- Overseeing and monitoring the implementation of the compliance program
- Maintaining current knowledge of laws and regulations, keeping abreast of recent changes.
- Developing policies and programs that encourage managers and employees to report suspected fraud and other improprieties without fear of retaliation.
- Reporting on a regular basis on the progress of implementation, and assisting these components in establishing methods to improve efficiency and quality of services, and to reduce the vulnerability to fraud, abuse, and waste
- Monitoring external audit (Bangladesh Bank, Statutory Auditor) review processes, maintains awareness of compliance issues, and responds to administrative inquiries related to compliance issues or audits.
- Coordinate internal auditing activities and plans with other internal and external providers of assurance and consulting activities to ensure proper coverage and minimize duplication of effort.
- Communicate plan of engagements and resource requirements for the internal audit function, including significant interim changes to the audit committee. This communication shall include the impact of resource limitations.
- Ensure that internal audit resources are appropriate, sufficient and effectively deployed to achieve the internal audit plan approved by the Audit Committee or the Board.
- Ensure the timely completion of internal auditing engagements.
- Ensure that reports on internal auditing engagements are provided to the audit committee with a minimum of delay.
- Provide an annual holistic opinion on the effectiveness and adequacy of risk management, control, and governance processes
- Ensure that the risk assessment is done at least annually;
- Establish risk-based audit plans to set out the priorities of the internal audit function, consistent with the organizational objectives.
- Run ICC Division complying Core Risk Management guidelines as set by Bangladesh Bank.
- Keep constant follow-up on the resolutions of audit findings.
- Senior Executive Vice President (SEVP)
Minimum Qualifications and experience
The post holder will be expected to have:
- Masters in any discipline preferably with commerce background with good academic record.
- Candidates having additional qualifications like CA/CMA/ CIA/CFA etc. will be given preference.
- At least 15 years banking experience including 5 years as divisional Head in a scheduled commercial bank
- Well conversant with Bank Companies Act and related Bangladesh Bank Circulars and Guidelines, Basel III, Market risk, Financial instruments, etc
- Sound knowledge of General Banking/Credit/Foreign Exchange and AML, Cash Management etc
- Effective written and oral communication skills.
- Ability to display initiative.
- Ability to work within a team with colleagues from a wide range of professional backgrounds and contribute to the development of team culture and the achievement of common objectives.
- Ability to work without supervision and organize own workload and manage time effectively.
Ability to communicate control issues to senior management.
- Ability to take direct management responsibility for the full range of management duties including leading and motivating staff.
- Ability to work under pressure, within agreed targets and time scales and deliver quality outcomes.
- Ability to promote & present ICCD functions positively to the management & the Board.
- Ability to give clear advice, at an operational and strategic level, to members and senior officers and other relevant external parties /regulators e.g. external audit/Bangladesh Bank.