Sheikh Bilal Shams

Reporting to the Board Audit Committee framed under Code of Corporate governance rules. Job Duties Include:

• Restructuring of the complete Internal Audit Department.
• Oversaw and Reviewed the Audit of Financial and Non-financial activities to ensure that effective Internal Controls are in place.
• Secretary of the Audit Committee liaised with the Board of Directors.
• Besides, prepared Special Reports identifying procedural discrepancies and irregularities and developed SOPs incorporating recommendations for corrective actions.
• Undertaking Special Assignments as and when directed by Chairman, Board or Chief Executive Officer.
• Part of the Departmental Accounts Committee and Public Accounts Committee Meetings (DAC & PAC), representing PIA at both forums.
• 6. Liaoning with Commercial Auditors and Ministry of Aviation for timely resolution of Audit Paras
• Kept up-to-date with tax changes and industry trends by participating in professional organizations, opportunities, and networks
• Collaborated with accounting manager to comply with governing bodies and limit regulatory risks
• Researched technical tax issues to define tax effect or impact of certain tax positions
• Initiated comprehensive account assessments to check viability, stability, and profitability of business operations
• Partnered with auditors to track errors and add contributions to maintain accuracy

Reporting to the Group Head Internal Audit. Heading Overseas & IS Audit Division of the following countries:

1. UAE

2. Bahrain

3. Bangladesh

4. Bahrain

5. Pakistan (Information System Audit)

Job Duties Include:

• Execute the regular audits banks Technological Systems and infrastructure along with their Operational activities in Accordance with annual audit plan approved by BAC
• Review and supervise issuance of IS Audit & Management Audit reports
• Branch Audits and Investigation Reports.
• Heading International Audit which includes Branches and Departments. Correspondence with the Central Bank of the respective countries .

Reporting to Board Audit Committee and CFO. Job duties include:

• Heading Internal Controls department of the bank, looking after the COSO implementation requirements on all the processes and identifying internal control weaknesses.
• Actively involved in reviewing the banking processes and reviewing process description documents for all banking areas.
• Assisting CFO in due diligence merger and acquisition with Summit Bank and listing assignment on PSX .
• Preparation Chart of accounts for Sindh bank Islamic Banking core banking system.
• Highlighted Control weaknesses, and drafted recommendations report.
• Advise business and operation units on internal control requirements.
• Advising Management on operational risk.
• Drafting replies on SBP inspection reports.
• Communicate with local regulators as and when needed. Provide reports on the status of the compliance program.
• Prepared strategic and business plan of the bank.
• Successfully Implemented Biometric Exercise in the bank corresponding with SBP.

Reporting Directly to the engagement partner for risk & financial advisory. Job Duties Includes

• Advisory Services / Risk Consulting, Leading an Internal Control Assignment on Financial Reporting /COSO for Sindh bank
• Preparing process inventory for all scooped processes and mapping financial with the scooped processes
• Preparing Entity level Control Checklist
• Reviewing Process description document (process flows)
• Reviewing risk and control matrices (RCM)
• Identifying Gaps and produce gap implementation report
• Develop test plan and providing it to the client for testing of implemented controls
• Reviewing treasury/ investment and credit policies for one of the top tier bank in Pakistan and provide Gap recommendation report in the light of better industry practices and regulatory requirement
• Studying FATCA implementation guidelines, and making necessary proposal for Pakistan Bankers' Association, regarding implementation of FATCA in Pakistan
• Conducting workshops on operational risk for one of the DFIs
• Foreign Account Tax Compliance ACT
• Actively engaged in forming FATCA implementation for Banks
• Studying FATCA implementation guidelines, and making necessary proposal for Pakistan Bankers' Association, regarding implementation of FATCA in Pakistan.

Reporting to Head Consumer Wealth Management & Emirates Islamic Bank Audit Head. Job Duties Include:

• Help in gathering input relative to quarterly business report (analyze the impact of financial and operating performance,
• changes to policy/ procedures, new initiatives and staffing)
• Timely delivery of Operations, asset quality reviews & Support audit services to stakeholders based on approved plan, project involvement and adhoc assistance to management.
• Assist head of audit in conducting periodic structured meetings with auditees management to identify developments, concerns and input for planning.
• Engaged in audit of credit reviews, asset quality reviews including real estate, manufacturing, services and trading sectors.
• Audit of Emirates Islamic Financial Brokerage.
• Timeliness in raising observations and preparation of Audit Report as per Internal Audit standards and obtaining management response.
• In hand knowledge of auditing software's (CAAT) such as Team Mate, Vector and Audit Command Language (ACL).

Reporting top Group Head Internal Audit and CEOs of the following 4 companies:

• IGI Insurance
• IGI Funds
• IGI Securities
• IGI Investment Bank

Job Duties Include

• Prepare an annual audit plan for review/approval of HOA/Audit Committee
• Conduct audit of various departments, mutual funds and branches of the bank, according to approved audit plan
• Review the current systems to ensure compliance with established policies, plans & procedures and reporting cases of violation of corporate policies and procedures
• Detailed gap analysis and periodical update of all applicable laws, rules & regulations; identify gaps & produce roadmaps/ plans / guidelines for ensuring proper compliance as per NBFC rules.

• Reporting to Engagement Partners and Senior Managers. Job Duties Includes:
• Two International Secondments to KPMG Oman and KPMG Cambodia
• Overall planning of external audits, planning meetings with clients to understand their expectations and designing audit strategies after assessing audit risk associated with client.
• Direction, supervision and review of audit work in light of International Financial Reporting Standards, Other Technical Standards, Generally Accepted Accounting Principles and other local laws and regulations as may be applicable.
• Finalization of audits and assignments.
• Timely preparation of deliverables including financial statements, Management Letters (highlighting control weaknesses and recommendations), communication to Board of Directors and other deliverables.
• Statutory Audits Conducted at KPMG Taser Hadi & Co
• National Bank of Pakistan- Asset Quality Review
• Buxly Paints Limited
• Intercontinental Phnom Penh
• Standard Chartered Bank Pakistan Limited
• Automotive Battery
• Alcatel Lucent Cambodia
• Central Insurance Company
• Sicpa Inks Private Limited
• Pak Arab Pipe line Company
• Cambodian Commercial Bank
• International Industries Limited
• Jamshoro power Company
• Amreet (Microfinance)
• Pakistan PTA
• Al Meezan Investment
• Coca Cola Beverages
• Pak Kuwait Investment Company
• Cera e Noor
• Global Securities
• Merck Marker
• Elixir Securities
• Oman International Bank (Internal Audit)

Qualified Chartered Accountant from Institute of Chartered Accountants of Pakistan - Qualified as ACA in 2009 / FCA in 2019

Certified Information System Auditor

Completed Junior and Associate Membership examination from Institute Of Bankers of Pakistan