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Internal/External Audit or Management Risk

Dubai, Dubai, United Arab Emirates
April 21, 2018

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Walid Dabbagh

(A) Dubai, UAE

(M) +971-**-******* ● (E)

A seasoned Senior Audit & Risk Management professional with 31+ years of exponential experience in providing leadership on the establishment, implementation and maintenance of financial, operational audit and risk management policies, systems and processes.

Steering compliance and risk management functions for leading multinational companies UAE & Jordan. EXECUTIVE MANAGEMENT PROFILE – AUDIT & RISK MANAGEMENT/ CHIEF RISK OFFICER (CRO) EXECUTIVE SYNOPSIS

» ERM Subject Matter Expert, aided development of the emergent discipline of enterprise risk management (ERM), proffered insights to embrace complexity and accelerate performance.

» Operational Risk Champion, catalyst to enhancing productivity, efficiency, quality, and strengthening financial results.

» History of streamlining existing operations, turning around unprofitable functions, and envisioning new concepts and future trends.

» Mastered Statutory Audits, Internal Audits, Operations Audits, Accounting / Auditing Systems Development and Implementation.

» Expert in developing Risk Based Audit Programs and the Audit Policy Manual.

» Drove the firm’s Internal Audit vision and strategy. Providing unique insights to Boards and Executive Management as well as practical perspectives on managing risk across increasingly complex enterprises. CORE COMPETENCIES

» Financial / Operational Audit

» Audit Strategy Planning

» ERM/ Audit Policy Manual

» Risk Management Frameworks

» Strategic Financial Planning

» Policies & Systems Development

» Risk Management Optimization

» Profit Maximization

» MIS / Financial Reporting

» Financial/ Balance Sheet/ Cash Flow


Head of Risk Management December 2010 – August 2016 Dubai Airports Company, Dubai, UAE

Dubai Airports owns and manages the operation and development of both of Dubai’s airports – Dubai International

(DXB) and Dubai World Central (DWC).

Joined the organization as Head of Internal Audit Unit, moved on upward career trajectories, to merit promotion to the position of Head of Risk Management

Designation Chronology:

• December 2010 – August 2016: Head of Risk Management

• January1999 – December 2010: Head of Internal Audit Unit Accomplishments:

Instrumental in building a resilient organisation, providing direction and oversight to embed and improve the framework to support a strong risk culture and ensure it meets the changing needs of Dubai Airports and its stakeholders.

Hand-selected to develop and implement Dubai Airports ERM program, ensured enduring management of internal and external risks that threaten achievement of an organization's mission.

Superintended, mentored, trained and guided the risk management team strengthened their base enabling them to meet deadlines and drive profitability.

Successfully renegotiated aviation insurance which resulted in AED 1.5 Million premium saving. Subsequently, was contacted by Abu Dhabi Airport to assist with the same. Key Responsibilities:

Risk Management Culture Builder and Thought Leader, analyzing and evaluating major loss exposures in terms of past and potential frequency/severity to establish priorities/methods of treating discovered risk.

Mapping the ERM landscape, reporting to senior management on a quarterly basis to ensure mitigation measures are in place and are effective.

Steering continual improvement to overall risk posture based on the latest industry best practices. Accomplishments as Head of Internal Audit Unit:

Instrumental in driving change across the establishment to support new business initiatives and the expectations.

Key Member of the Personnel Action Committee, facilitated development of HR Policies & Procedures.

Nominated as Key Team Member to handle implementation of Hay Management System for Organization Development Project.

Appointed as member of the Air Show Organizing Committee.

Revolutionized company’s internal control system & ascertained innovative practices to support all financial activities.

Achieved a successful 70% of Emiratization with the development of a focused career plan and training. The talent of this programme has seeded a few in key positions within other key organizations.

Propelled cargo rental revenue by 50% following a recommended internal benchmarking study in 2007. Key Responsibilities as Head of Internal Audit Unit:

Advanced to increasingly responsible Head of Audit Compliance Position, with ultimate authority over all Internal Audit

(IA) function & Control Systems, to drive a culture of compliance and ethics throughout the business.

Commanded Internal Audit Department, set departmental vision, mission and strategic direction and successfully cover a full range of activities. Established strategy and procedures to undertake audit reviews and investigations.

Led a high-performance team of 13, nurtured a culture of team ownership and accountability to ensure the delivery of excellent services.

Championed audit methodologies and procedures. Served as Team Lead for establishing audit program based on risk assessment and reviewed audit findings to management.

Directed financial and operational audits, identified financial, operational and compliance related control weaknesses and formulated recommendations to improve the company's control environment.

Managed the departmental budgeting, planning, scheduling and execution to achieve KPIs. Reported to the Director.

Validated that the Firm operates in a controlled environment. Performed risk assessment, continuous quality improvement, benchmarking and migrating to best business practices.

Shaped the organization future by proffering tailored solutions for operational challenges that deliver results and sustainable growth. Analysed operating costs to develop/ implement cost reduction processes.

Custodian of the risk management and internal control framework, guaranteed operational effectiveness and communicated information on Enterprise Risk Management, ensuring major business risks are managed appropriately. Senior Team Leader 1996 – 1998

Government of Dubai (Financial Audit Department) Dubai, UAE Accomplishments:

Played major role in the draft of New Foreign Bank Tax Law in Dubai.

Leveraged seasoned expertise in conducting feasibility studies for various Government Projects. Headed a team of 3. Reported to the Director.

Entrusted to conduct internal and operational audits of major businesses owned by the Govt. of Dubai such as Dubai Duty Free/ Banks & Hotels with the purpose of reviewing internal control structures and performing special reviews.

Provided bespoke solutions to high-end clients including various prestigious government organizations, recommended corrective actions, reported findings, assisted with improvements in operations and reductions in costs, monitored compliance with contractual terms and reviewed all applicable laws and regulations for operations.

Performed tax audits of Banks operating in Dubai like- ANZ, HSBC, CITIBANK.

Additional AED 80 Million in Tax revenue was collected over what was declared following completion of 2007 tax audit. Supervisor Auditor 1987 – 1995

Deloitte & Touche, Dubai / Jordan


Provided leadership & direction to a team of 10 engaged in management of Statutory Auditing Assignments function of major private companies across the Banking / Manufacturing & Trading Industry.

Generated independent report and action plan with analysis to Board of Directors / Senior Management regarding the company’s strength & weaknesses.

Re-engineered the audit approach and developed audit strategy to align with the fast-moving changes in the respective Industry.

Resourcefully mitigated audit hours on a major audit assignment from 4000 to 2500 hours which resulted in major savings and completing the assignment well ahead of time which was commended by the bank BOD.

Entrusted to represent Deloitte Middle East as part of a Beta testing group for the new global AS/2 Audit System 2 which was being developed with Microsoft at a budget of $20M. PROFESSIONAL DEVELOPMENT

Certified Public Accountant (CPA), State of Delaware, USA

Certified Risk Management Assurance (CRMA), IIR, USA Honors & Awards

Short listed by Institute of Risk Management - UK Global Awards 2015 "Risk management Professional of the Year 2015

Short listed by Institute of Risk Management - UK Global Awards 2014 "Building Risk Management Capabilities to Support the Ultimate Airport 2014


Bachelor of Business Administration in Accounting, University of Texas at Arlington, USA PERSONAL DETAILS

Nationality: Canadian

Date of Birth: 7th August 1964

Languages Known: English, German & Arabic

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