Audit gets flexible

For Rauf Ali Jan, adaptability has been the bedrock of a career that has taken him from Pakistan to the Bahamas, then to Canada and back again to his home country.

This approach has been nowhere more evident than in his current role as head of agile auditing, digitalisation and reporting, internal audit at HBL, Pakistan’s largest bank, which he joined in 2019 after close to a decade working outside the country.

Digital drive

Rather than sticking to a rigid annual or multi-year plan, agile auditing involves working nimbly and adapting to risks as they arise. This way, finance teams can improve governance fast.

‘If you think there are emerging risks, you go and address them,’ Jan says. ‘You identify weak internal controls, carry out root-cause analysis and work with management to identify the problems and develop remedial plans to fix them.’

Key to the success of agile auditing is digital transformation, which is front of mind at HBL. As well as rolling out an extensive online banking service, the bank’s digital transformation programme includes the launch of Konnect, a branchless bank account tagged to the customer’s mobile number, which also offers other benefits such as deals and discounts on leisure activities.

‘Our customers can do almost all required tasks without the need to visit banks,’ Jan says, adding that the digital trend is supporting Pakistan’s drive towards financial inclusion in a country where many live in remote areas.

International roles

Jan’s career began at AF Ferguson & Co, part of PwC’s network in Pakistan, where he worked in a variety of roles before becoming senior consultant. During his five years with the firm, he worked on assignments in Bangladesh, Oman and Saudi Arabia, giving him the skills he needed for his future international roles.

‘Getting international exposure while working in Pakistan enhanced my capabilities and prepared me for my jobs in the Bahamas and Canada,’ he says.

In search of longer term experience outside his home country, Jan’s next move was influenced by the fallout from the 2008 global financial crisis.  ‘Employees were being laid off in countries like the US and UK, and it was very difficult to get a job there,’ he recalls. ‘That’s why, with the help of my ACCA network, I applied for and got a job with PwC Bahamas.’

Working in the Bahamas was an enriching experience for Jan, who enjoyed working in a very different working culture. ‘Unlike in Pakistan, the working day ended at 5.30pm,’ he recalls. ‘This allowed me ample time to focus on myself and my family.’

In addition, the companies Jan was dealing with were much larger than those he had encountered previously. ‘I was signing off on balance sheets of companies worth billions of dollars and got to work with offshore companies,’  he says, adding that he also gained a great deal of experience in dealing with high-net-worth individuals.

Jan’s next move was to Canada, where he joined the Royal Bank of Canada in Toronto. With a balance sheet of over US$1 trillion and more than 80,000 employees, the bank is Canada’s largest by market capitalisation.

‘Working on that level and the way people went up through meritocracy was amazing,’ he says, adding that the level of diversity enhanced his learning experience.

Changing lives

Jan pays tribute to the role of ACCA in enabling finance professionals in Pakistan to gain the skills required for an international career. After gaining the ACCA Qualification in 2009, he went on to teach the F8 Audit and Assurance module.

‘Teaching is very close to my heart,’ he says. ‘It’s not a highly paid job but I did it to give back to the community. You get to see real people, change their lives, inspire them, motivate them and help them pass their papers.’

Jan, who completed an MBA in 2018, is a firm believer in life-long learning, which is not only self-fulfilling but also helps professionally. ‘I work in agility, digitalisation and transformation, and if I’m not a life-long learner, in a few years I will be obsolete,’ he says. ‘Constant learning is a must for professional development.’

Advocate in action

Over the years, Jan has also been a keen advocate of ACCA and in May he was a winner of the Global Advocacy Programme in the National Category.

‘It is in my DNA to help people benefit from my experiences,’ he says, explaining that he sees the main goal of his advocacy activities as giving back to the community.

‘It is in my DNA to help people benefit from my experiences,’ he says, explaining that he sees the main goal of his advocacy activities as giving back to the community.

‘By promoting the ACCA Qualification, we show people they can get a good job that has unlimited growth. There are a lot of people who need a helping hand and we should be willing to provide it to them.’

The role of advocate is, he explains, wide-ranging, from writing articles promoting ACCA to identifying areas where members might require more support. ‘You use your voice,’ he says.

As with teaching, Jan feels that mentoring is vital for the continued success and growth of ACCA, and members should make it their priority to support the next generation of finance professionals.

‘We should be ready to mentor newcomers, help them pass their exams and let them take advantage of our multiple years of experience,’ he says. ‘There is no alternative to experience, and there cannot be anything more self-fulfilling than helping others who are in need of your support.’