Internal Control Officer

Job Purpose

To perform audit and compliance activities in accordance with the approved internal policies and procedures of the Department, verify the accuracy and validity of transactions processed by the Department in relation to credit facilities granted to Corporate and Institutional Banking (CIB) customers, financial institutions, and leasing activities across Jordan Bank Group, and achieve the Department’s control objectives through periodic reviews, risk identification, and recommendations for process improvements, thereby ensuring an effective level of control over the Department’s activities.

Responsibilities:

1. Performs pre-execution verification prior to forwarding transactions to the Execution Unit:

• Reviews and verifies requests received from the Documentation Unit relating to credit transactions for the CIB sector, leasing activities, and guarantees, and ensures that all required documents, conditions, and approvals have been completed before instructing the Execution Unit to process the transactions on the banking system.

• Reviews and verifies all requests relating to the utilization and repayment of credit facilities granted to customers, received through the Central Corporate Customer Service Department and Business Development Departments within the CIB sector, and ensures their compliance with approved credit terms, approvals, and procedures before instructing the Execution Unit to process them on the banking system.

• Reviews and verifies all requests received through the Follow-up Department and ensures their compliance with approved credit terms, approvals, and procedures before instructing the Execution Unit to process them on the banking system.

• Reviews and verifies requests received from the Finance Department for posting journal entries/free-form transactions and ensures that the required approvals have been obtained before instructing the Execution Unit to process them on the banking system.

2. Monitors transactions executed on the banking system:

• Reconciles transactions executed on the banking system against the transactions approved for execution to ensure that all transactions have been fully processed and that there are no missing or unauthorized transactions. Reports any violations or errors identified and follows up on the required corrective actions.
• Reviews and verifies the accuracy of all transactions relating to the addition, modification, and cancellation of limits, financing facilities, guarantees, interest, and commissions. Notifies all relevant parties and reports any violations or errors identified, following up on their correction.
• Reconciles the stamp duty statement for transactions against the General Ledger historical transactions for the previous business day, verifies that applicable revenue stamps have been duly collected, and completes any outstanding requirements in accordance with approved procedures.

3. Performs verification procedures on the outputs of various units within the scope of internal audit activities through sample-based testing.

4. Participates in the safekeeping of promissory notes and security cheques in the designated custody vault, in accordance with applicable procedures and under dual control with the Execution Unit.

5. Provides support in responding to inquiries relating to transaction execution and provides the necessary clarifications to requesting parties, under the supervision of the direct supervisor.

6. Participates in correspondence with various entities, Bank departments, subsidiaries, and overseas branches to fulfill work requirements and provide the required statements and reports, under the supervision of the direct supervisor.

7. Participates in resolving operational issues and testing system modifications to ensure uninterrupted business operations and safeguard the Bank’s interests.

8. Participates in the development and enhancement of the Department’s procedures and systems.

9. Ensures that transactions and processes are carried out in accordance with approved policies and procedures and within the delegated authorities and limits, in order to safeguard the Bank’s rights and interests.

10. Reviews inspection reports and internal and external audit reports and follows up on the resolution of issues and observations related to the Department’s responsibilities, with the objective of addressing root causes and preventing recurrence in the future.

11. Serves as a primary or alternate member of the officially established Business Continuity Plan and Emergency Response Teams, and performs all duties assigned under the plan to minimize the impact of crises and restore operations as quickly as possible.

Requirements

• Bachelor’s degree in Finance and Administrative Sciences, Accounting, Business Administration, or any related field.
• Minimum of five (5) years of experience in credit control and credit management within the banking sector.
• Good command of English, both written and spoken.
• Good computer skills and ability to work with relevant systems and applications.
• Good verbal and telephone communication skills and the ability to interact effectively with others.
• Strong inquiry, review, and audit skills.
• Thorough knowledge of the policies and procedures governing the work, including relevant updates and developments.
• Ability to work effectively as part of a team.
• Strong problem-solving skills.
• Strong follow-up, planning, and organizational skills.