AI in Governance of Operations and Auditing in Financial Institutions
AI in Governance of Operations and Auditing in Financial Institutions
🧭 General Objective
Enable participants to understand and design AI-supported compliance and auditing systems in financial institutions, focusing on governance, international standards (such as AAOIFI), and practical review of key Islamic finance contracts including Murabaha, Ijarah (finance lease), and Tawarruq.
🎯 Learning Outcomes
Interpret the role of governance in Islamic financial institutions.
Explain AAOIFI review mechanisms and evaluation criteria.
Analyze how AI can support auditing and compliance functions in financial institutions.
Distinguish key Islamic finance contracts and their associated risk areas.
Discuss AI-enabled detection of non-compliant clauses or transactions.
Draft a high-level blueprint for an AI-enabled compliance and auditing framework.
🛠️ Skills & Tools
Conceptual analysis of Islamic finance contracts from an AI-driven governance perspective.
Drafting policies for technology-integrated compliance and audit controls.
Critical thinking on AI applications, transparency, and explainability in financial auditing.
Understanding financial risk dimensions and mitigation strategies.
Methodology: Interactive lectures, case studies, guided simulations, and practical worksheets.
👥 Target Audience & Prerequisites
Target Audience:
Compliance and audit teams in Islamic financial institutions.
Internal audit, risk management, and digital transformation units.
Academics, researchers, and postgraduate students.
Prerequisites:
Basic knowledge of Islamic finance concepts and willingness to engage in discussions and case studies.
📅 Program Schedule
Day 1 – Introduction to Compliance & Governance
Program orientation and objectives.
Governance in Islamic financial institutions and institutional frameworks.
AAOIFI standards and assurance mechanisms.
Case study from a Saudi Islamic bank.
Day 2 – AI in Financial Supervision & Compliance
Fundamentals and categories of AI.
Applications of AI in financial services.
Opportunities and challenges of AI adoption in financial governance.
Discussion: Aligning AI technologies with institutional compliance frameworks.
Day 3 – Theoretical Framework & Data Foundations
Components of an AI-enabled compliance system.
Financial and regulatory data sources and management.
Ethics of AI in finance: bias, transparency, accountability, and explainability.
Governance blueprint for intelligent compliance systems.
Day 4 – Islamic Finance Contracts & Risk Management
Murabaha, Ijarah (finance lease), and Tawarruq: structures and features.
Risk typologies associated with each contract.
AI support for contract review and anomaly detection.
Day 5 – Institutional Framework, Vision 2030 & Digital Transformation, Workshop
Consolidated review of key concepts.
Institutional framework for AI-enabled compliance and auditing.
Saudi context: Vision 2030 and FinTech initiatives.
Hands-on Workshop: Building a high-level blueprint for an AI-enabled compliance and auditing process.
Recommendations and next steps.
📈 Program Outcomes & Applications
A comprehensive analytical framework for integrating AI into compliance and auditing systems in financial institutions.
A conceptual model linking Islamic finance contracts with intelligent inspection and auditing mechanisms.
