Ricarte N. Malaya Jr., CrFA®, is a seasoned finance and forensic accounting professional with extensive experience in internal controls, financial integrity, and risk mitigation. His Certified Forensic Accountant (CrFA®) designation reflects his specialized capability to detect, investigate, and prevent financial irregularities—a skill set honed through years of practice in complex organizational environments.
Currently, he leads the Group Internal Controls function within Finance & Treasury for a listed entity in Abu Dhabi, operating across real estate, hospitality, and leasing management as part of one of the region’s largest sovereign wealth groups. In this role, he oversees internal controls over financial reporting across a portfolio of entities in the UAE, Egypt, the US, and the UK, ensuring transparency and strengthening financial governance.
Certification Story
Inspiration to pursue ICFA® certification
“Since transitioning to a finance role last year, I have been keen on expanding my knowledge in accounting and finance to better support my responsibilities. Pursuing the ICFA® certification aligns with my interest in strengthening my expertise, particularly in areas related to forensic accounting, internal controls, and financial risk management. It also supports my long-term goal of enhancing my capabilities in governance and fraud-related matters.”
Most challenging part and how it was addressed
“One of the main challenges was understanding the concepts and applying them to real-life scenarios, especially without extensive prior hands-on experience in certain forensic areas. I addressed this by dedicating more time to reading supplementary materials, reviewing practical examples, and continuously reinforcing my understanding of the concepts. This approach helped me bridge the gap between theory and practical application.”
Credibility and opportunities gained from the ICFA® designation
“The ICFA® designation has strengthened my credibility in areas related to forensic accounting and fraud risk management. It has also given me greater confidence to take on forensic-related work and contribute more effectively to control and investigative initiatives within my role.”
Impact on fraud prevention, detection, and investigation
“The certification has equipped me with a more practical and structured approach to identifying fraud risks and implementing effective controls. It has enhanced my ability to contribute to fraud prevention, detection, and investigation efforts within the organization, particularly in strengthening internal controls and governance frameworks.”
Message to finance professionals considering forensic accounting
“I would encourage finance professionals to explore opportunities beyond traditional roles. Forensic accounting is a dynamic and rewarding field that combines technical expertise with investigation and critical thinking. Staying curious, continuously learning, and being open to new challenges can help build a successful career in this area.”
