Audit and Risk Committee Members X3 (Pretoria) at South African Maritime Safety Authority

The Committee plays a vital role in ensuring that SAMSA discharges its responsibilities effectively, in line with the Public Finance Management Act (PFMA), with duties outlined in the Committee Terms of Reference that includes:

• Monitor and review the effectiveness of the Internal Audit Function including compliance with the International Standards for the Professional Practice of Internal Auditing, the Code of Ethics;
• Promote a Combined Assurance Model, which will include inter-alia, coordination and cooperation between the AGSA and the Internal Audit function, to minimise the duplication of effort and promote reliance on each other’s work, where possible
• Overseeing the effectiveness of SAMSA’s assurance functions, including external audits and internal finance operations.
• Ensuring the integrity of SAMSA’s Annual Financial Statements.
• Advising SAMSA on matters such as risk management, safeguarding assets, and the adequacy of control systems.

Requirements

QUALIFICATIONS

• Postgraduate Degree in Financial Management, Accounting, Governance, or Risk Management and/or other relevant qualification.
• Advanced certifications such as Chartered Accountant (CA) or Certified Internal Auditor (CIA) as well as other recognized certifications in auditing, governance, or risk management would be an added advantage
• Professional Body Registration: Applicants must be registered and in good standing with a relevant professional body (e.g., SAICA, IIA, IRMSA, etc.)

EXPERIENCE

• Minimum of three (3) years’ senior management experience in one or more of the following areas: Financial controls, Accounting, Corporate governance, Risk management, Internal auditing, Regulatory compliance.
• Governance Experience: A minimum of five (5) years’ experience serving on a Governance Committee such as Audit Committee, Risk Committee, Finance Committee and/or a Board Member 
• Sector Experience: Experience in the ICT sector is a strong advantage or familiarity with both public and private sector processes enhances suitability 

CRITICAL SKILLS AND ATTRIBUTES: 

• Financial Literacy with understanding of accounting principles. 
• Analytical and Critical Thinking with the ability to assess complex financial data and detect inconsistencies. 
• Knowledge of Auditing and Accounting Standards, familiarity with internal controls, audit procedures, and risk assessment techniques and a consistently methodical and investigative approach. 
• Risk Management Awareness with ability to identify and evaluate financial, operational, and compliance risks.
• Integrity and Independence, Maintain independence from management and outside influence. High ethical standards and a commitment to transparency and accountability
• Business Acumen, Solid understanding of the industry, business model, and key operational drivers. Helps in identifying financial risks and understanding management’s decisions.
• Communication and Interpersonal Skills, Clearly articulate issues and ask tough but fair questions. Collaborate effectively with auditors and management as well as the Board
• Attention to Detail, Scrutinize financial reports, audit findings, and risk disclosures thoroughly. Spot red flags and inconsistencies that may otherwise go unnoticed.
• Regulatory and Legal Knowledge, Awareness of applicable laws, regulations, and compliance requirements, Understanding the role of the audit committee in legal oversight.
• Commitment to Continuous Learning, Stay up to date on changes in accounting standards, governance best practices, and financial reporting regulations.