Chief Audit Executive (ERRATUM) at Housing Development Agency (HDA)

Reference: HDACAE002

Main Purpose: To provide strategic direction and manage the development and implementation of the Audit Management framework. To monitor compliance with statutory requirements, policies and procedures in line with IIA Standards and the HDA’s policies and procedures.

Key Performance Areas:

 Strategic Management

• Develop and maintain Internal audit policies and procedures in compliance with relevant legislation and standards.
• Develop and implement a strategic and operational audit plan framework.
• Develop an engagement plan in line with IIA standards and the HDA’s Internal Audit policies
• Participate in the strategic planning of the HDA.
• Contribute to the overall effective functioning of the HDA.
• Develop a plan to operationalise the unit’s strategic performance targets.

 Internal Audit

• Develop and maintain the internal audit charter.
• Conduct performance audit and special audit investigations as and when necessary, or upon request by an appropriate authority.
• Consider input from Board and Management and develop a risk based internal audit plan.
• Liaise with and manage the internal audit resources in line with the standards.
• Develop and enforce the implementation of audit tools and frameworks in line with good practice and implement within the HDA.
• Oversee the process of follow-up on both internal and external audit action plans and provide regular progress report to both EXCO and Audit and Risk Committee.
• Conduct priority/sensitive internal audits and make recommendations for corrective action.
• Analyse internal and external audit findings to address audit trends and patterns and apply professional judgement in all audit interactions.
• Identify and assess the design adequacy and operational effectiveness of manual and automated controls within audit scope and utilising data analytics.
• Ensure continuous improvement of the quality of audits through providing professional insights.
• Liaise with all departments within the organisation to ensure effective and efficient auditing of operations.
• Identification of non-conformities analyses and discusses audit findings across the company.
• Collate information to prepare and submit Board Audit Committee report.

Audit and Risk Committee management and Reporting

• Develop an Internal Audit Annual Performance Plan and reports on progress to the Audit Committee.
• Manage and review the internal and external audit engagement outcome in respect of objectives, quality, completeness and feedback, in accordance with Internal Audit standards, policies and procedures.
• Ensure the final audit report is timeously completed, signed-off and submitted to key stakeholders.
• Ensure that the audit process is comprehensively evaluated in order to produce quarterly reports internal audit reports to Audit Committee and stakeholders.
• Prepare the quarterly dashboards reports to the Audit and Risk Committee, AGSA.
• Attend the Risk and Audit committee meetings, provide inputs on the improvements of controls and risks mitigations within the organization.
• Report on progress towards implementation of audit finding recommendations.

Audit and Risk Committee Support

• Coordinate the activities of the Audit and Risk Committee in collaboration with the Company Secretary.
• Produce reports on the annual IA Plan, amendments, significant findings and recommendations.
• Report on internal audit activities and ensure the effective coordination thereof.
• Coordinate the audit activities of other assurance providers through the agreement of a time bound. combined assurance model, including internal and external audit, forensics and compliance functions.
• Collate information to prepare and submit Board Audit and Risk Committee report.

Governance and Administration

• Ensure good governance and compliance with audit matters, as well as legislative requirements.
• Review annual audit management letter and internal audit reports and act on any finding.
• Train audit teams and employees to ensure continuous improvement of their understanding of the internal audit methodology, department’s systems and processes.

 Financial Management

• Develop the operational and capital budget required for each national programme.
• Manage expenditure against budget.
• Manage procurement in line with the relevant policies and procedures.
• Address any anomalies in spend and budget.
• Report on financial performance for the national programmes unit.

People Management

• Select, assign, lead and manage people.
• Set clear objectives for self and others and measure achievements against these objectives through implementation of the performance management system.
• Build and manage relationships with staff members.
• Manage and support staff development.
• Develop and manage the implementation of succession plans for key individuals and critical positions.
• Implement the HDA HR policies and procedures as required.
• Manage risks and address issues as they arise.
• Ensure transfer of skills.

Qualifications & Experience

• A post graduate degree in Auditing, Finance Management or similar is required as recognised by SAQA
• A registration as a Certified Internal Auditor (CIA) or Professional Internal Auditor (PIA) (Essential)
• Professional membership with the Institute of Internal Auditors South Africa
• MBA or CA (SA) will be an added advantage
• At least 10 years Audit management experience including at least 5 years in a senior management level obtained within Governance, Risk or Audit Management
• Knowledge of legislative and regulatory framework
• Knowledge of Public Finance and Management Act (PFMA), Treasury regulations and guidelines
• Knowledge of National Treasury Internal Audit Framework
• Knowledge and understanding of internal audit principles and practices
• Knowledge of King Report (ii and iii) on Corporate Governance
• A valid drivers license is required.