Manager, Internal Audit - Credit Risk Management Assurance

About Afreximbank African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.

For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

MAIN RESPONSIBILITIES

Planning

• Support in planning or plan individual internal audit assignments, identifying and assessing material risks relevant to the target audit project/activity and determining the audit scope and objectives.

Fieldwork

• Execute assigned audit projects relating to the Bank’s credit risk management activities, product development and implementation of related strategic initiatives, business development and client relationship management, consistent with the audit program and in line with the approved audit methodology, international standards, and leading practices.

Reporting

• Factually report audit findings/observations with practical recommendations or agreed management action plans (MAPS) that address the identified root causes, with due consideration of the Bank’s value drivers and strategic objectives and appropriate balancing of business needs with compliance imperatives.

Follow up

• Conduct follow up reviews to validate the implementation of agreed MAPs and evaluate the effectiveness in resolving identified risk management, control, and governance weaknesses or value-enhancing gaps.

General

• Maintain quality working paper documentation that clearly indicates the comprehensive work done and adequately support audit findings and conclusions.
• Liaise with auditees and Management at all stages of the audit project and manage and negotiate with stakeholders with a view to obtaining necessary buy in, including management commitments for resolution of agreed action plans.
• Serve as subject-matter expert to internal audit management, providing advice, insights, and foresights on credit and product development-related risks and controls, emerging trends and patterns, international standards, and best practices.
• Assist the leadership of Internal Audit with other assignments including development of internal audit communications and work tools.

Compliance Responsibilities

• Understand and adhere to the Bank's AML, Regulatory and Conduct Compliance policies and procedures, notably.
• Staff Handbook (has code of conduct provisions)
• Anti-Money Laundering (AML), Counter Financing of Terrorism and Counter Proliferation Financing
• Conflicts of Interest and Policies on Staff Involvement in External Engagements/Activities
• Anti-Bribery & Corruption
• Insider Trading Guidelines
• Report any suspicious or non-compliant activities or matters relating to the Bank’s staff or the customers to the Compliance Department.
• Complete the Annual Compliance Training/Assessment.

QUALIFICATIONS AND EXPERIENCE

Minimum Qualifications

• Master’s degree in Accounting, Business Administration, Economics, Finance or related fields from a recognized University.
• Relevant professional qualifications in Accounting or Auditing such as ACA, ACCA, CA, CPA, CIA, CISA, etc.
• Minimum of 8 years’ experience in Internal Audit with the last 3 years in a leadership role, preferably in the financial services industry or consulting.
• Demonstrable knowledge of Risk-Based Internal Audit (RBIA) methodologies and experience in using root cause analysis to accomplish value-adding audit.
• Experience in conducting audit of structured trade finance, infrastructure and project finance, and development and social impact finance asset portfolios.
• Extensive knowledge of the development finance industry and international regulatory standards.
• Strong analytical skills, including ability to leverage leading practices and tools (data analytics, automated audit processes).
• Excellent verbal and written communication skills in English combined with ability to build compelling business cases and adapt communication style to gain buy in. Knowledge of the Bank's other working languages (French, Arabic and Portuguese) is an added advantage.

Years & Nature of Experience

• Self-motivated and ability to drive work to a conclusion and meet deadlines with minimal supervision. The candidate should be able to work independently as well as a cohesive member of a small team.
• Ability to work effectively in an evolving and challenging multi-cultural environment.

TECHNICAL COMPETENCIES

Afreximbank’s Core Values:

• Commitment to Africa and supporting the emancipation and empowerment of Africans
• Uncompromising integrity
• Passion for Learning and Drive
• Teamwork
• Trust and Respect for the Individual
• Innovation, Excellence and Flexibility
• Professionalism and Responsiveness

KEY INTERACTIONS

• Internal: All group functions, including subsidiaries.
• External: Third-party service providers, consultants, vendors, and peer organisations.