Senior Auditor – Governance, Risk & Compliance (GRC)
Bank of Baghdad
Location: Bank of Baghdad , HQ
Department: Internal Audit
About the Role
Bank of Baghdad is seeking an experienced and detail-oriented Senior Auditor – Governance, Risk & Compliance (GRC) to join its Internal Audit function.
The successful candidate will be responsible for executing and documenting internal audit assignments related to governance, risk management, compliance, and internal controls, using a risk-based audit methodology.
The role focuses on assessing the effectiveness of governance frameworks, risk management processes, regulatory compliance arrangements, and internal control systems. The successful candidate will identify control weaknesses, analyze root causes, evaluate audit evidence, and provide practical recommendations that support continuous improvement across the Bank.
The position requires strong professional judgment, analytical capabilities, banking knowledge, and a commitment to maintaining the independence and objectivity of Internal Audit.
Key Responsibilities
- Participate in and execute assigned Governance, Risk and Compliance (GRC) internal audit assignments as part of the audit team.
- Prepare risk-based audit plans and execute audit assignments according to approved programs, timelines, and quality standards.
- Determine the appropriate audit scope by considering the risk assessment of each audit area and the resources allocated to the assignment.
- Conduct and document comprehensive risk assessments covering governance, risk management, compliance, and internal controls.
- Assess the alignment of identified risks with the Bank's strategy, risk appetite, Risk and Control Self-Assessment (RCSA), and Key Risk Indicators (KRIs).
- Evaluate the adequacy and effectiveness of governance frameworks, including roles and responsibilities, authority limits, escalation procedures, delegation of authority, committee structures, conflicts of interest, accountability, documentation, and oversight.
- Assess the effectiveness of risk management frameworks, including risk identification, assessment, mitigation, monitoring, and escalation mechanisms.
- Evaluate the adequacy and effectiveness of compliance control frameworks in relation to applicable laws, regulatory requirements, internal policies, and approved procedures.
- Review the adequacy, clarity, and updating of policies and procedures within the assigned audit scope, ensuring consistency with regulatory requirements, governance frameworks, and the Bank's risk appetite.
- Evaluate the governance and effectiveness of relevant executive committees, including their mandates, composition, quorum, voting procedures, conflict-of-interest management, decision-making, documentation, and follow-up of agreed actions.
- Review and assess the sufficiency, relevance, and reliability of audit evidence supporting audit findings, conclusions, and recommendations.
- Establish clear relationships between identified risks, audit criteria, supporting evidence, findings, potential impacts, root causes, and recommendations.
- Analyze the root causes of significant audit findings and assess whether proposed corrective actions address the underlying issues rather than merely their symptoms.
- Follow up on agreed corrective actions and verify the adequacy of closure evidence and implementation of remedial measures.
- Escalate overdue corrective actions, implementation delays, and risk acceptance cases in accordance with the Internal Audit methodology.
- Prepare and review draft internal audit reports covering audit scope, methodology, risks, criteria, findings, impacts, root causes, recommendations, and management action plans.
- Participate in audit closing meetings and discussions with audited departments, presenting findings objectively and professionally while maintaining Internal Audit independence.
- Perform special audit assignments and authorized advisory engagements in accordance with Internal Audit management instructions, without assuming management or operational responsibilities.
- Utilize data analytics and digital audit techniques, where appropriate, to analyze risk indicators, compliance exceptions, operational data, and unusual patterns.
- Monitor regulatory developments, emerging risks, and relevant governance, risk, and compliance changes, assessing their potential implications for the Bank's Internal Audit plans.
- Inform the Executive Director of Audit of audit assignment developments, challenges, and obstacles that may affect the completion of assigned engagements.
- Participate in meetings with audited departments and relevant stakeholders throughout the audit process.
- Provide professional guidance, support, and knowledge-sharing to other audit team members to facilitate effective completion of audit assignments.
- Complete required training programs and continuously develop professional knowledge, technical skills, and audit capabilities.
- Perform any other duties assigned by the Executive Director of Audit in accordance with the Bank's requirements.
Requirements
- University degree in Accounting, Finance, Banking and Financial Sciences, Business Administration, or an equivalent relevant academic or professional qualification.
- 3–5 years of experience in Internal Audit.
- At least 40 training hours in a relevant professional field.
- Good understanding of banking operations, banking products, and financial services.
- Knowledge of Central Bank of Iraq regulations and supervisory requirements.
- Understanding of banking risks, regulatory reporting, and internal control frameworks.
- Strong knowledge of risk-based internal audit methodologies and audit planning.
- Practical experience in risk assessment, evaluation of audit evidence, root cause analysis, and preparation of internal audit reports.
- Good knowledge of governance, risk management, and compliance frameworks.
- Familiarity with RCSA, risk appetite, and Key Risk Indicators (KRIs).
- Ability to work across different audit areas and adapt to various audit assignments.
Technical Knowledge / Core Competencies
Governance, Risk & Compliance
- Corporate Governance.
- Enterprise Risk Management (ERM).
- Risk Assessment and Risk Appetite.
- Risk and Control Self-Assessment (RCSA).
- Compliance and Regulatory Requirements.
- Internal Control Frameworks.
- Committee Governance and Oversight.
- Policies and Procedures Assessment.
Internal Audit Skills
- Risk-Based Auditing.
- Internal Audit Planning and Execution.
- Audit Scope and Risk Assessment.
- Audit Evidence Evaluation.
- Root Cause Analysis.
- Audit Working Papers Documentation.
- Internal Audit Report Writing.
- Professional Judgment and Critical Thinking.
- Corrective Action Follow-up.
- Internal Audit Standards and Methodologies.
Banking Knowledge
- Banking Products and Operations.
- Central Bank of Iraq Regulations.
- Banking Risks.
- Regulatory Reporting.
- Banking Control Environments.
Digital & Analytical Skills
- Microsoft Excel.
- Power BI.
- Data Analytics.
- Audit Management Systems.
- Banking Applications and Systems.
Professional Certifications
Possession of one or more of the following professional certifications is preferred:
- Certified Internal Auditor (CIA).
- Certification in Risk Management Assurance (CRMA).
- Certified Information Systems Auditor (CISA).
- Certified Fraud Examiner (CFE).
- Certified Anti-Money Laundering Specialist (CAMS).
- Other relevant professional certifications in Governance, Risk Management, Compliance, or Internal Audit.
Key Performance Indicators (KPIs)
Performance will be evaluated against the following proposed targets specified in the job description:
- Completion of audit assignments according to the approved plan and schedule: ≥95%.
- Quality of audit working papers and supporting evidence: ≥90%.
- Timely completion of internal audit reports: ≥90%.
- Quality of root cause analysis: ≥90%.
- Quality of audit recommendations and corrective action plans: ≥90%.
- Compliance with Internal Audit methodology and procedures in line with IIA standards.
- Completion of required professional training hours.
- Application of data analytics in relevant audit assignments: ≥70%.
Working Days & Hours
To be confirmed by Bank of Baghdad.
Benefits and Employment Conditions
Employment conditions and benefits will be communicated to shortlisted candidates in accordance with Bank of Baghdad's approved policies.
Application
If you have solid Internal Audit experience, strong knowledge of governance and risk management frameworks, and the ability to deliver high-quality, risk-based audit assignments, we invite you to apply.
Join Bank of Baghdad and contribute to strengthening governance, enhancing risk management, and supporting effective internal controls across the Bank.
Apply through the official LinkedIn job posting.
