Microsoft - Word, Excel, Power Point, Outlook
Sothyrith Eang
Deputy Head Of Internal Audit Division
Phnom Penh
Summary
Compliance and audit experience in building assurance programs that are research-focused and detail-oriented is consistent with enterprise risk management and contributes to the company's strategic success. Professional with extensive experience in regulatory compliance roles and a deep understanding of Cambodian banking laws and regulations.
Overview
9
9
years of professional experience
27
27
years of post-secondary education
Work History
Deputy Head of Internal Audit Division
Advanced Bank Of Asia Limited
07.2023 - Current
- Develop internal audit plan pertaining to Head Office Units that supports the achievement of the organization’s objectives.
- Establish with Head of Internal Audit Division the methodologies (policies/processes/ procedures) to guide the Head Office Internal Audit Department s to achieve its mandate and conform with the Standards.
- Coordinate with internal and external providers of assurance services and consider relying upon their work.
- Establish with the Head of Internal Audit Division a program to recruit, develop, and retain qualified internal auditors required to successfully fulfil the internal audit charter and achieve the internal audit plan.
- Develop an approach to build relationships and trust with key stakeholders.
- Ensure that team has appropriate technology to support the internal audit process.
- Ensure that internal audit communications are accurate, objective, clear, concise, constructive, complete, and timely.
- Communicate the results of internal audit services periodically and understand the expectations of senior management and the board regarding the nature and timing of communications.
- Communicate unacceptable levels of risk.
- Lead team to ensure quality is assured, competencies are developed and follow-ups on action plans are done adequately and ensure that proper documents/testing are done prior the closing of action plans.
- Ensure team engagements are properly supervised, quality is assured, competencies are developed, and follow-ups on action plans are done adequately, and ensure proper documents/testing are done prior the closing of action plans.
- Comply and ensure team complies with the internal audit charter.
- Comply and ensure that team complies with the established methodologies (policies, processes, and procedures).
Internal Audit Specialist
Advanced Bank Of Asia Limited
05.2023 - 07.2023
- Responsible for providing internal auditing service for the complex audit engagements and surprise audits.
- Coordinate with Head Unit of Internal Audit to determine appropriate audit objective, scope, strategy, risk, and timeliness.
- Lead the development of audit team that audit standards and capability are continually improved.
- Interact with management to audit requirements and identify improvement opportunities and concerns.
- Play a critical role in the continued fostering of functional relationships across the wider group by advocating for the IA function and proactively communicating and promoting our proposition.
- Maintain and continuously improve the performance culture and skills matrix, which outlines the skills and competencies required for a 'future fit' IA function and create an action plan to address any skill and capability gaps.
- Work closely with the Head of Internal Audit Division to continuously develop, drive, and deliver on our people proposition
Risk Consulting Manager - GRC
KPMG Cambodia Ltd.
12.2022 - 05.2023
- Leading and managing an outsourced internal control service for a real-estate subsidiary company in Cambodia for a Chinese group company in accordance with the agreed-upon scope of processes to be reviewed.
- Leading and managing an SOPs review for certain processes, including sales and distributions, purchasing and inventory management, and finance controls.
- Participated in a project to support Group ESG Audit - sustainability audit - for suppliers in Cambodia.
- Managing project of third party compliance review, including contract requirements review and standard practices implementation;
Head of Regulatory Monitoring and Testing Unit
Advanced Bank of Asia Limited
02.2021 - 11.2022
- Monitor and ensure that newly issued regulations are identified, registered, and forwarded to relevant stakeholders for implementation within agreed-upon timeline;
- Develop appropriate regulatory risk rating methodology for conducting risk assessment on all applicable regulations;
- Develop regulatory compliance risk register in order to conduct real-time risk assessment and determine proper mitigating actions;
- Develop compliance assessment activities, such as ongoing monitoring and recurring compliance testing/audit, in line with managing enterprise risk;
- Ensure existing processes and workflows are up-to-date and relevant to carried out monitoring and testing activities that are necessary to manage regulatory compliance risk;
- Review and update internal policies and procedures, such as compliance management policy, anti-bribery and anti-corruption policies, code of business conduct and ethics, management of new regulation procedure, and whistle blowing procedure;
- Lead and ensure periodic compliance testing/audit mandates have been performed effectively and efficiently. Compliance testing/audit mandates cover various regulations from many regulators, e.g., NBC, ACAR, GDT, CAFIU, SERC, MOLVT, MOC, MOI in following topics, such as credit risk grading, AML/CFT, consumer complaint, corporate governance, prudential ratio, mandatory internal control, technology risk management guideline, loan restructuring, employment labor and compensation matters, obligatory accounting requirements, fire safety, corporate disclosures, consumer protection, commercial enterprise obligation, and IFRS 9 model governance.
- Oversee and lead compliance assurance program, including Policy Assurance, Partnership Assurance, Regulatory Assurance, and Annual Self-Assurance;
- Develop and review training materials on compliance topics (Whistle Blowing, Code of Ethics and Business Conducts, Anti-Bribery and Anti-Corruption, Management of new regulation, and Compliance Management Program);
- Provide regulatory comments to relevant stakeholders on development of new products/services, engaging relationship with new partners/customer, as well as on adopting new internal process/controls;
- Act as main channel for communicating with regulators for giving regulatory comments to relevant stakeholders/senior management;
- Direct communication with Chief Risk and Compliance Officer on operational compliance activities, as well as with other Chief Officers on compliance matters, including Chief Executive Officer and Executive Directors;
- Prepare meeting materials for Management-Level Compliance Committee, and Operational and Risk Management Committee, and invited for presentation in meeting as necessary invited for meeting occasionally; and
- Prepare meeting materials for Board-Level Compliance Committee.
Regulatory Compliance Supervisor
Advanced Bank of Asia Limited
02.2019 - 02.2021
- Ongoing monitoring of new regulation changes and make consolidate changes in regulatory database and escalate to relevant departments for action taken;
- Perform risk assessment and set priority to monitor implementation of such regulations and follow up status of implementation of regulation if bank complies or not comply;
- Build regulations risk universe and prepare compliance work plan on monitoring and testing according to risk priorities;
- Develop regulatory monitoring and testing framework and procedure on existing regulations;
- Prepare compliance checklist and compile result of checklist from relevant departments;
- Conduct periodic monitoring and testing according to approved work plan with agreed scope of works;
- Prepare monitoring and testing report and submit to Head of Compliance for review;
- Follow up all non-closed action plan and collaborate with business unit to perform corrective action on regulatory breach;
- Lead team to perform any ad-hoc testing, up on necessity and/or request from senior management.
- Revise and update internal compliance document such as compliance policy, whistle-blowing procedure, training material and other related document of regulatory compliance;
- Prepare report on monthly update of regulatory changes, quarterly Board report, correspondent letters to regulator on matter of compliance, FATCA report and whistle blowing report
- Escalate potential compliance breach immediately to Head of Department/Division and/or senior management when applicable;
- Provide comment and advise on regulatory point of view when designing policy, procedure, or any actions which might impact efficiency of implementing regulation.
Senior Auditor
Ernst & Young (Cambodia) Limited
08.2015 - 02.2019
- Prepare and draft financial statements for audited clients on various industries such as financial institution (Bank and Microfinance), manufacturing companies – beverage company, and nongovernmental organizations,
- Review financial statements in various accounting standards, such as CAS, CIFRS for SMEs, and CIFRS;
- Review mandatory compliance of entities to align with latest effective regulations and compliances;
- Understand client’s industry and recognized key performance drivers, business trend, and emerging technical and industry development. Stay informed of general business/economic development and their impacts to client;
- Performing financial and non-financial data analysis to identify client’s business risk and address audit procedure to perform;
- Perform audit procedure base on digital data analysis to catch up with latest information technology system;
- Collaborate to plan objective and determine audit strategy that appropriately address risk. Establish expectation of value to be delivered; successfully monitor audit engagement team against budget and alter if necessary;
- Perform multi tasks and multi audit engagements at same time;
- Lead engagement and audit team to ensure timely report deliverable;
- Closing meeting with audit client’s management;
- Follow audit procedures and planning for area assigned by Advanced Senior Auditor, Manager or Senior Manager;
- Examine, review and analyze accounting policy, accounting recording and data regarding material misstatement of assets, liabilities, surplus, income and expenditures; and
- Ensure that system and manual designed procedures of audit client are implemented throughout audited period.
Education
Professional Degree - Certified Internal Auditor
The Institute of Internal Auditors
Online 07.2022 - Current
Professional Degree - Association of Chartered Certified Accountants
CamEd Business School
Cambodia 07.2014 - 06.2022
Bachelor Degree - Professional Communication
Institute of Foreign Languages
Cambodia 10.2012 - 10.2017
Bachelor Degree - Banking And Finance
Finance And Banking University of Economics An
Cambodia 10.2011 - 10.2015
Professional Degree - Certified Accounting Technician
CamEd Business School
Cambodia 06.2011 - 07.2014
High School Diploma -
Hun Sen Bun Rany Wat Phnom High School
Cambodia 10.2006 - 10.2011
Skills
Law and regulation understandnig
Software
Timeline
Deputy Head of Internal Audit Division
Advanced Bank Of Asia Limited
07.2023 - Current
Internal Audit Specialist
Advanced Bank Of Asia Limited
05.2023 - 07.2023
Risk Consulting Manager - GRC
KPMG Cambodia Ltd.
12.2022 - 05.2023
Professional Degree - Certified Internal Auditor
The Institute of Internal Auditors
07.2022 - Current
Head of Regulatory Monitoring and Testing Unit
Advanced Bank of Asia Limited
02.2021 - 11.2022
Regulatory Compliance Supervisor
Advanced Bank of Asia Limited
02.2019 - 02.2021
Senior Auditor
Ernst & Young (Cambodia) Limited
08.2015 - 02.2019
Professional Degree - Association of Chartered Certified Accountants
CamEd Business School
07.2014 - 06.2022
Bachelor Degree - Professional Communication
Institute of Foreign Languages
10.2012 - 10.2017
Bachelor Degree - Banking And Finance
Finance And Banking University of Economics An
10.2011 - 10.2015
Professional Degree - Certified Accounting Technician
CamEd Business School
06.2011 - 07.2014
High School Diploma -
Hun Sen Bun Rany Wat Phnom High School
10.2006 - 10.2011
Similar Profiles
Kanha KIMKanha KIM
Senior Teller Officer at ABA Bank Is Advanced Bank of Asia LimitedSenior Teller Officer at ABA Bank Is Advanced Bank of Asia Limited
Yimphanarak YunYimphanarak Yun
Digital Project Implementation Specialist at Advanced Bank of Asia LtdDigital Project Implementation Specialist at Advanced Bank of Asia Ltd
Ying YanYing Yan
Loan Officer (C&I) at The Bank of East Asia, Limited Bank OrdinanceLoan Officer (C&I) at The Bank of East Asia, Limited Bank Ordinance