Head of Internal Audit – Banking – KZN

Synopsis

The Head: Internal Audit is ultimately responsible for planning, organising, directing and controlling the IA activities. This includes, but is not limited to the scope of activities to be carried out, the tools and methodologies applied, and the determination of the required capacity, skills and experience, necessary to meet its objectives and changing priorities in the organisation

To develop and manage the IA department of both the Bank and Non-Bank entities. Provide a consulting and assurance service that evaluates and improves the effectiveness of the company’s risk management, control, and governance processes. Ensuring the department complies with Regulatory requirements and conforms with the IIA Standards. Reporting the results of the reviews to Executive management, the Audit and Compliance Committee, Risk and Capital Committee and Group, where required, ensuring the quality and timeliness of deliverables. Report and respond to requests from the SA Reserve Bank and third parties (where required). Managing assurance and relationships with third parties/ JV partners and ensuring that there is co-ordination with other assurance providers.


Minimum Requirements

CA (SA) or CIA
CISA (ISACA Certification) preferred
EXPERIENCE
At least 10 years’ experience in internal audit (with emphasis on Banking, IT and Retail).
Currently operating in Executive/ senior position
Big 4 audit experience preferred
Financial services industry experience

REQUIREMENTS
Extensive Risk Management, Governance and IA experience.
Thorough understanding of internal controls (manual and automated),
IT Governance and ITGC and application controls. Demonstrated ability to add value in a Banking (including Retail Banking) environment.

PROFESSIONAL REGISTRATIONS
Institution of Internal Auditors South Africa -IIA SA
South African Institute of Chartered Accountants
ISACA


Role Description

IA MANAGEMENT AND PLANNING
1. Formulate a three-year strategic plan and annual internal audit plan, using a risk-based methodology, with appropriate input. 2. Keep up to date on key developments in the business and be flexible to areas of concern as highlighted by management and/or the Audit and Compliance Committee. 3.Consider timely involvement by IA in key projects. 4. Perform a quarterly assessment of IA plan. 5.Ensure IA is appropriately resourced and that employment equity targets are adhered to when recruiting and when succession models are developed. 6. Research, develop and apply business acumen and technical skills to new initiatives/ changing environments.

EXECUTION
1. Implementation of the IA strategy and the IA methodology and enhancements thereto. Refine approach to integrated audits (including the use of CAATTs) 2. Track budget vs actual and drive increased productivity. 3. Ensure audits scheduled per the IA plan are completed in line with the IA plan. 4. Facilitate discussions and contribute to an overall improvement in governance, risk and internal controls. 5. Provide adequate training provided to staff. 6. Assume overall responsibility for the quality of review and findings raised and level of supervision and review. 7. Apply sound technical knowledge apply this in a complex environment.

INTERACTION AND REPORTING
1. Assignment reporting and Audit Committee reporting in line with methodology. 2. Regular discussions with HODs/ key management and ensure process to provide timely feedback on issues as they arise to management. 3. Provide practical, reasoned recommendations which add value and improve the control environment. 4.Attend close out meetings to facilitate understanding and buy in by management. 5. Be responsive to queries raised, provide required information and maintain a sound relationship with the Regulator. 6. Report to the Committee on the internal audits performance relative to its plan as well as changes in scope, governance, significant risk exposures and control issues. 7.Hold knowledge sharing session of IA process with key management.

RISK MANAGEMENT AND COMBINED ASSURANCE
1.Encourage alignment between risk management process and IA processes 2. Provide guidance re the implementation of IA recommendations in terms of the assessment of the overall effectiveness of the RM process. 3. Provide input into the combined assurance forum and model. 4. Co-ordinate internal audit work that of other assurance providers, to minimise duplication of effort. Ensure regular meetings, with external auditors and facilitate discussions regarding a combined assurance approach.

QUALITY ASSURANCE AND CONTINUAL IMPROVEMENT
1. Adequate and timely involvement by HOD/ manager in planning, review of work performed and finalisation/ reporting. 2. Demonstrate the process of continuous improvement per the Quality Assurance and Improvement (update benchmarking and progress made as well as methodology). 3. Consider and implement automated working paper software as well as follow up tracker/ statistics.


City: Durban

Salary: Negotiable - High End. Exec Level.

Duration: Full Time