Assurance Consultant at Absa

Job Summary

• Support the drive and execution of the agreed Combined Assurance coverage plan. Assist in the improvement of the control environment through assurance activities in alignment with the auditing methodology, governance and delivery objectives.

Job Description
Accountability: Planning Assurance Reviews

• Definition and implementation of an effective and collaborative Combined Assurance approach, supporting framework and processes.
• Ensure embedment and adoption of the defined Combined Assurance approach and associated framework and processes.
• Develop the Combined Assurance Plan through consultation with the respective business and assurance stakeholders.
• Enhance control and assurance oversight of the Book of Work by providing a single, comprehensive and integrated Combined Assurance plan through coordination of related assurance activities across all lines of defence.
• Provide relevant Assurance training and support where required.
• Plan the delivery of assigned audits/ assurance reviews to a high quality and in line with Key Performance Indicators as per the methodology which includes adequate project scheduling, preparation of the announcement memo and meeting key deliverables in terms of audit timelines.
• Design and ensure the execution of approved sampling techniques, testing strategies on assurance reviews.
• Prepare/ provide oversight of detailed working papers for assurance reviews to ensure a consistent testing approach across all business units and Assurance Partners.
• Define an Assessment Framework to assess the required skills and capabilities required for assurance reviews/ audits.
• Contract Assurance Partners to perform required assurance in line with the Assurance Provider Assessment Framework.

Accountability: Executing Assurance Reviews

• Develop an in-depth knowledge of various business areas and use this knowledge to assess risks and controls through identifying, assessing and documenting risks and controls within these processes.
• Provide consulting services to implement lasting change and sustained improvements around critical processes to support the bank’s top priorities.
• Support Risk team in validating effective controls as per the Control Self-Assessment (CSA) for the business units.
• Coordinate and conduct special audits, investigations, and/or ad hoc projects with minimal supervision and direction.
• Execute and or ensure adherence on the Design Effectiveness Testing (DEA) and Operational Effectiveness Testing (OET) in line with methodology requirements.
• Perform and proactively participate in the timely clearing of review notes raised during audits/ assurance reviews to ensure overall high quality of work performed.
• Track and confirm that all material remedial assurance activities are effectively managed to achieve demonstrable risk reduction within appropriate timelines.

Accountability: Reporting

• Use business knowledge to assess evolving risks, write high quality reports with observations which are insightful, address the root cause, have agreed actions that fully mitigate the risk, support the Issues Assurance process.
• Anticipate potential barriers, issues, and management concerns and create action plans and recommendations to address these concerns in a timeous manner.
• Establish and maintain a monthly Assurance Forum to lead, track and report assurance.
• Report Change Combined Assurance progress to respective forums.
• Capture the findings on appropriate system in a timely manner.
• Execute and maintain assurance oversight to ensure assurance outcomes/ results are appropriately tracked, managed and incorporated into the overall risk posture.

Accountability: Stakeholder Engagement

• Confirm appropriate assurance coverage of projects with the respective Portfolio stakeholders.
• Improve overall effectiveness of combined assurance objectives by ensuring increased collaboration between all Assurance Providers and business stakeholders.
• Present effectively at stakeholder meetings and forums (e.g.: Risk and Governance Forums etc.) by sharing knowledge and information, including methodology, standards, changes and new developments, with business stakeholders on an ongoing basis, and develop and maintain relationships with accountable stakeholder management on each audit/ assurance review.

Accountability: People Management

• Mentor and coach less experienced team members by providing guidance around the methodology and assurance process, and manage the teams that are assigned to perform the exercise effectively by delegating work to empower each individual team member.
• Develop, motivate and manage team by recognising performance, providing appropriate interventions and opportunities to address poor performance.
• Set clear objectives and responsibilities for each individual and measure performance against objectives.
• Lead assurance exercises and support team members during assurance reviews.
• Manage a team of third party vendors conducting assurance to ensure that they deliver on the agreed scope and within timelines.

Accountability: Finance

• Contribute to the setting of budgets, processing of invoices, minimise expenditure and manage costs effectively.
• Develop, implement and monitor a cycle of medium term cost improvements.

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)