Foreword

The Arab Bank for Economic Development in Africa (BADEA) is an independent international financial institution owned by eighteen (18) Arab countries, members of the League of Arab States. It is governed by the provisions of its Establishing Agreement and the principles of international law. BADEA aims at strengthening economic, financial and technical cooperation between Arab World and Sub -Saharan African countries and the embodiment of Arab-African solidarity based on equality and friendship. To achieve these objectives, BADEA was mandated to execute the following functions

• Contribute to the financing of economic development of African countries.
• Encourage the participation of Arab capital in African development.
• Contribute to the provision of the necessary technical assistance for development in Africa

BADEA is headquartered in Riyadh, the capital of the Kingdom of Saudi Arabia

 

Job Purpose

• Ensuring the administrative and financial performance aligns with professional standards and norms.
• Conducting objective risk analysis related to accounting and control processes, assisting in its management and evaluating the effectiveness of existing control procedures.

Duties and Responsibilities

Technical Duties and Responsibilities

• Participating in the preparing and implementing of annual work plan for the Internal Audit Department based on the risk matrix and register.
• Determining the reliability of the accounting system and financial reports, and ensuring the financial information reflects accuracy and reality.
• Reviewing and analysing financial operations to ensure compliance with the BADEA's financial policies and conducting regular reviews of various activities as per the Internal Audit Department's work plan and following up on implementing the Audit Committee’s recommendations as per the timetable proposed by the concerned department.
• Evaluating the accuracy and validity of financial reports and their alignment with the accounting standards.
• Monitoring the utilization of financial resources to ensure efficiency and effectiveness.
• Periodically reviewing the approved internal control systems in light of updates and recommending corrective actions to enhance processes, strengthen controls, and reduce costs where possible.
• Identifying financial risks and recommending actions to improve financial performance, pinpoint weaknesses within BADEA & its implications, and suggest suitable measures to mitigate risks.
• Preparing comprehensive audit reports for review and validation by the Internal Audit Director.

General Duties and Responsibilities

• Communicating regularly with all departments and offices within BADEA.
• Liaising with the external bank auditors.