Head of Digital Audit (Based in Maldives) - Bank of Maldives

Bank of Maldives (BML) is the leading financial institution in the Maldives, providing a wide range of personal, business and corporate banking services through its extensive branch network and digital banking channels.

As the Bank continues to advance its digital capabilities, BML is seeking an experienced Head of Digital Audit to lead its Digital Audit function within Internal Audit. The role will oversee independent, risk-based audits of the Bank’s technology infrastructure, digital systems, cybersecurity and governance, while providing insights to strengthen controls and manage emerging technology risks.

Working closely with the Director of Internal Audit, the successful candidate will play a key role in developing the function in line with regulatory requirements and industry best practices.

As the Head of Digital Audit you will:

1. Develop and implement a comprehensive, risk-based digital and IT audit plan, strategically aligned with the overall internal audit plan and the bank's "Digital First" strategic focus.
2. Proactively identify and incorporate emerging risks in the evolving digital and cybersecurity landscape, including those associated with new digital products and channels, process enhancements through digitalization, and the strategic adoption of emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Blockchain, into the audit universe.
3. Contribute significantly to the strategic direction of the Internal Audit Division from a technology perspective, ensuring early-stage engagement and insights into digital initiatives and product design.
4. Prepare RFPs for outsourcing/co sourcing of Digital Audits where required.
5. Develop and oversee Continuous auditing initiatives and provide digital risk support other audit engagements.
6. Perform any other related duties assigned by management of Internal Audit Department.
7. Oversee the rigorous execution of Digital audits covering areas such as Core Banking Systems, IT General Controls (ITGC), Cybersecurity and Data Protection, Digital Project Management and System Development Life Cycle (SDLC), Business Continuity and Disaster Recovery, Cloud Computing, and Vendor Risk Management, with an enhanced focus on complex digital processes, automated controls, and AI deployments.
8. Supervise digital audit staff, ensuring work is performed according to internal standards and evolving regulatory requirements, and promote a data-driven auditing approach.
9. Oversee and champion the data analysis function of the Digital and system Audit Unit, leading the development of sustainable and re-usable data analytics models and programs to improve the efficiency and coverage of the Internal Audit Department (IAD), including continuous monitoring scripts for critical digital areas.
10. Evaluate the adequacy and effectiveness of digital system controls and governance structures, with a specific emphasis on assessing the integrity and resilience of new digital products, channels, and processes enhanced by digitalization.
11. Identify control gaps, assess risk exposures, and recommend targeted corrective actions to improve control environments, focusing on mitigating risks introduced by emerging technologies and complex digital ecosystems.
12. Stay abreast of evolving IT and digital risks, including the growing danger of fraud schemes fuelled by Generative AI and other advanced technological threats, and changes in technology that could impact the organization's risk profile.
13. Prepare wholistic analysis of the Bank wide systems framework and digital infrastructure and its integration and data framework.
14. Prepare high-quality, concise audit reports with clearly articulated findings, root causes, and risk implications (including specific digital, System, and fraud risk dimensions), providing actionable recommendations relevant to the bank's digital transformation.
15. Engage proactively with senior management, Risk and Compliance committees, IT leadership, and other key stakeholders to discuss audit findings, monitor action plans, and provide early-stage insights and consultative guidance on control design and risk mitigation for new digital initiatives.
16. Provide essential input into Audit Committee reporting related to System and digital risks, highlighting trends, concentrations, and systemic issues arising from the bank's digital footprint.
17. Provide early-stage consultancy services to project teams on digital and IT risk, system controls, and best practices, maintaining audit independence while proactively embedding controls from the design phase of new digital products, channels, and major digitalization initiatives.
18. Actively assist in major investigations of internal and external fraud, particularly those leveraging advanced digital tools and AI, as requested by the Chief Internal Auditor, contributing to enhanced fraud prevention and detection strategies.
19. Participate in the Bank’s Risk forums to provide forward-looking insights on emerging technological and digital risks and contribute to the overall enterprise risk management program.
20. Annually Prepare and update the Internal Audit Department IT strategy aligned with the bank IT Strategy.
21. Oversee the provision of continuous training and upskilling of the Internal Audit Department staff on detecting and managing risks related to information security, emerging digital technologies, and AI, fostering a culture of continuous professional development in these rapidly evolving areas.
22. Provide in-house training on IT audit methodologies, data analytics (e.g ACL) and emerging Digital risks.
23. Stay informed of global industry trends, technological advancements, and regulatory updates relevant to digital banking and AI, to proactively address potential risks and adapt audit methodologies.
24. Support or lead the Internal Audit Quality Assurance and Improvement Program (QAIP), ensuring that methodologies and practices for digital and IT audits align with international best practices and regulatory expectations.

To be successful in this role you will ideally have:

1. Bachelor’s degree in Information System, Computer Science, Cybersecurity, or a related field
2. Professional certifications such as CISA (required),CIA, CISSP, or CRISC (strongly preferred)
3. Minimum of 8–10 years of experience in IT audit or IT risk management, with minimum 3 years in a leadership or supervisory role, preferably in a financial institution
4. Experience with audit analytics tools such as ACL

Deep Technical Acumen:

1. Strong technical understanding of IT infrastructure, cybersecurity, core banking systems, and IT governance.
2. Expertise in emerging digital technologies, including Artificial Intelligence (AI), Machine Learning (ML), Blockchain, Robotic Process Automation (RPA), and Cloud Computing, with a profound understanding of their operational mechanics, inherent risks, and control implications.
3. Ability to evaluate and conduct reviews on a range of Hardware, Operating Systems, Databases, Network Infrastructure, and distributed applications.
4. Ability to perform control reviews on system development life cycle (SDLC), operations, programming, control, and security procedures and standards, particularly for digital products and automated processes.
5. Thorough knowledge of IT governance, cybersecurity risk management frameworks, and best practices, including relevance to AI and digital platforms.
6. Knowledge of industry standards and frameworks such as COBIT, ISO 27001, and PCI-DSS is highly preferred.

Advanced Analytical & Critical Thinking:

1. Excellent analytical and problem-solving skills, with a proven ability to analyse complex digital processes and systems to identify control gaps, non-compliances, and opportunities for improvement.
2. Capability to apply critical thinking and data-driven insights to evaluate complex digital scenarios, including AI model integrity, bias, explainability, and the detection of digital-enabled fraud.
3. Proficiency in advanced data analytics tools and techniques (e.g., ACL Analytics, SQL, PowerBI, Tableau) to detect anomalies, trends, and patterns across vast datasets for continuous controls monitoring and proactive fraud detection.

Strategic Leadership & Management:

1. Strong leadership and team management capabilities, with proven experience in leading and developing high-performing audit teams.
2. Demonstrated ability to lead the modernization of audit approaches and methodologies to align with the bank's digital strategic priorities.
3. Ability to mentor and upskill audit team members in new technologies and digital risk competencies, fostering a culture of continuous learning and adaptation.

Influential Communication & Stakeholder Engagement:

1. Excellent communication skills, with proficiency in delivering clear, concise, and impactful reports/presentations to senior management and the Board Audit Committee.
2. Strong influencing and negotiation skills to provide early-stage consultative guidance on control design for new digital initiatives and to drive effective remediation of identified issues.
3. Ability to communicate complex technical issues and digital risks effectively to both technical and non-technical stakeholders.

Adaptability & Proactive Risk Management:

1. Self-motivated and proactive approach to identifying and addressing potential risks, particularly in a dynamic and fast-paced digital environment.
2. Ability to adapt to new methodologies and integrate updated practices into the audit process, anticipating and responding to rapidly evolving digital threats and regulatory changes.
3. High ethical standards and sound judgment in handling sensitive information and making independent assessments.

Remuneration:

An attractive executive remuneration package and benefits package will be provided. This will be negotiable based on experience and personal circumstances.

Application deadline: 30th October 2026