Profiles

Ray Portelli, Head Internal Audit

Ray Portelli was appointed Head of Internal Audit at the European Bank for Reconstruction and Development (EBRD) in September 2006.

Ray Portelli is responsible for the Internal Audit Department, which provides independent, objective assurance and consulting services designed to add value and improve the EBRD’s operations. It assists the EBRD in accomplishing its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The Internal Audit Department and its staff are required to adhere to The Institute of Internal Auditors’ Code of Ethics and International Standards for the Professional Practice of Internal Auditing.

As Head of Internal Audit, Ray Portelli reports functionally and administratively to the President and has full and free access to the Chair of the Audit Committee. The independence of the Internal Audit Department is further reinforced through the oversight role of the EBRD's Audit Committee.

He joined the EBRD in June 1993 as Senior Internal Auditor, and became Deputy Head of Internal Audit in July 1999. Prior to joining the EBRD, he worked for Coopers & Lybrand in Malta and Italy, and Lombard Bank (Malta) Limited.

A Maltese/British national, Ray Portelli is a fellow of the Chartered Association of Certified Accountants and an Associate Member of the Association of Corporate Treasurers. He is also a fellow of the Malta Institute of Accountants and a Maltese Certified Public Accountant and Auditor.