Pre-Audit Supervisor - Abu Dhabi, United Arab Emirates - Black Pearl Consult

Description

A Sovereign Wealth Fund based in Abu Dhabi is looking for a Supervisor, Pre-Audit to join their team.

In this role, the candidate will (non-exhaustive):

Pre-Audit Assignments:
Investment transaction payments - Audit of all (100%) investment transaction payments prior to wiring of funds.

Transaction types include money market instruments, placements, internal equity/ bond trades, derivative transactions (including fx (spot and forward)./ NDFs/swaps/ options/ futures), direct investment transactions, joint ventures, co-investments, IPO's, daily margin settlements with FCM's/ prime brokers, CSA settlements for derivatives, capital call transactions related to external fund managers/ GP's, management and performance fees to external fund managers.

Investment receipts:
Audit of receipts to verify source and to ensure appropriate pre-advice to placement banks. Perform audit function in pre-advice protocols agreed with the company counter-parties.

AIM Bloomberg:
Perform 2nd signatory verification in SWIFT i.e. in addition to document verification of governance requirements; perform checks as mandated by AIM Bloomberg Swift protocol.

• Standard Settlement Instruction (SSI): Final approver/ audit check for SSI maintenance (i.e. new or changes to existing SSI). SSI's need to be included or amended in accordance with Council approved protocol.

Investment confirmations/ messages:

Approver/ audit check function in AIM Bloomberg for trade confirmations in accordance with ISDA protocol, Issue of receive/pay messages for security trades with custodians, Issue of pre-advice for receipts/payments to counter-parties.

• Periodic reviews of AIM Bloomberg: Undertake periodic reviews of work flows, Bloomberg transaction codes, message types, user access profiles, control reports to identify control issues or areas of inefficiencies.

Weekly/ Monthly payroll runs:
Audit of master payroll database and any changes thereof. Audit of monthly/ weekly payroll runs and miscellaneous personnel benefits (pension/ termination benefits/ travel).

• Expense/ Vendor payments- Audit of company expense transactions, vendor payments and arrangements including those related to Information Technology and Facility Management.
• All pre-audit checks must be carried out in line with company governance requirements, internal rules for dealing/trading and applicable ISDA/ CSA protocols.
• Pre-audit checks must be completed within timelines/ service level agreements.
• Be alert to and identify instances where supporting documentation does not meet company governance or agreed protocol requirements. Develop alternate solutions and escalate to BA Senior Manager/ Director
• Pre-audit will remain an "audit function" and will not undertake operational responsibilities such as account or SSI set up, compilation and maintenance of supporting documentation, and improvement/ resolution of document deficiencies.

Process Reviews:

Initiate/ Participate in reviews of internal processes, procedures and policies in order to identify internal control weaknesses, efficiencies and other improvements.

Participate in internal Committees that are set up to discuss similar issues or projects. Assist the Senior Manager/ Director in developing responses to Inter-Departmental queries on application of policies.

• Advance review/ analysis of transactions: In case of investment transactions, where there are unique or new structures/products or features, position holder to participate in discussions with necessary departments (Custody, Financial Accounts/ Investment Departments) in advance of the actual funding/ capital call. Understand transaction background and establish if banking arrangements and governance standards are in line with normal company procedures and practice. Develop practical solutions relevant to the case and escalate to Senior Manager/ Director. Aim to resolve any payments issues in advance of funding date

Requirements

Education

• Bachelor / First degree or CPA or other equivalent recognized professional financial credential.

Experience

• Minimum of 7-8 years of relevant/ similar work experience preferably in banking/ fund management or financial services audit. Overall experience must be of 10-15 years with about 2 years in a supervisory role in audit or financial services. Work experience must include strong familiarity with financial investments and derivatives. Familiarity with SWIFT or similar operational protocols is preferred but not mandatory.
• Good understanding of financial transactions i.e. money market instruments, placements, internal equity/ bond trades, derivative transactions (including fx (spot and forward)./ NDFs/swaps/ options/ futures), direct investment transactions, joint ventures, co-investments, IPO's , daily margin settlements with FCM's/ prime brokers, CSA settlements for derivatives, capital call transactions related to external fund managers/ GPs, management and performance fees to external fund managers.
• Good/ working knowledge of SWIFT protocols/ message types.
• Audit experience/ background in the aforementioned areas. Working knowledge of exception reports/ end of day reports/ user access controls.
• Ability to audit/ process large volumes of very high value transactions within short time periods.
• Ability to enforce company governance requirements. Ability to practically resolve time-sensitive issues.
• Good analytical and interpersonal skills. Ability to analyse complex issues. Identify and convey root cause in a method appropriate for the stakeholder.
• Ability to comprehend and keep track of internal policies, procedures, adhoc announcements, governance committee (IC/AC/IOC/ Risk) resolutions in the company together with updates and refer to these as needed.
• Ability to keep track of the company investment structures, SPV's, joint ventures, the jurisdictions involved, the governance requirements and the signatories involved.
• Ability to comprehend and keep track of the most commonly used bank accounts of the company and their purposes.
• Have an inquisitive mind and a high level of critical and reasoning.
• Good communication skills in English (spoken and written).
• Demonstrate a firm, but collaborative approach to enforcing policies and procedures.

Note:
Candidates willing to relocate Full-Time in Abu Dhabi and are currently in the country will be prioritized.

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Disclaimer:

Black Pearl will never ask for money or any form to charge our candidates just to process or consider their application for any of our available vacancies.

If you happen to receive such request from any members of our staff or other individuals claiming to be part of Black Pearl, please do call our office.