Head, Audit - Global Markets - Sandton at Absa South Africa

Job Summary

• An opportunity has become available for an experienced Head of Audit/ Director to join our Global Markets Absa Internal Audit (IA) team. The Global Markets division engages in trading, sales and research activities across all major asset classes and products in Africa, delivering pricing, hedging and risk management capabilities to both corporate and institutional clients.
• The Head of Audit: Global Markets will provide end to end audit support to the Global Markets Businesses. Accountable for defining the audit plan for this relevant portfolio and part of IA Extended Leadership team responsible for the delivery of the audit plan and to ensure that audit assignments are executed in compliance with the relevant IA assurance methodology. Be responsible and accountable for the quality of the audit work performed and the efficiency and effectiveness of the audit team.

Job Description

Key Accountabilities:

Strategic Initiatives:

• Digitally and Technology enable: Contribute to the Digital Book of Work of the IA Function. Use of Tools and Technology in the portfolio.
• New Ways of Work Operating Model: Build skills that are future fit, self-sufficient audit teams, load balancing for thinking versus execution time, flatter/less hierarchy in structures.
• Stakeholder engagement model: aligned to IA overall principles for driving a profession, value adding, service oriented, digitally savvy owner led stakeholder engagement approach for the portfolio.
• Contribute to the overall Absa IA Brand, Positioning and Communication Initiatives.

Audit Delivery:

• Budget/Finance Management - cost for the Audit portfolio to be optimised and tracked against budget. Timesheet completion for self and team to be done on time each week applicable period; Timesheet completion for self and team to be done on time each week applicable period.
• Customer interaction and business monitoring: Manage relationships with senior stakeholders across each portfolio, and participation at key Risk/governance committees to inform view of overall BU/Function Risk profile. Review and approval of Reporting - which BU/Function IA attends. Reporting Ensure high quality factually accurate, complete and insightful Reporting – Enterprise Risk Committee (ERC), Group Audit and Compliance Committee (GACC), Regulators et al.
• Annual Audit Planning: Accountable for formulation of the Portfolio Annual Audit Plan and contribution to the BU/Function Portfolio's audit plan. Responsible for the "top-down" approach to planning whereby he/she will communicate the key strategic focus areas and emerging risks and topics noted as part of business monitoring and ensure they are appropriately included in the audit plan.
• Audit Delivery aligned to the agreed phasing principles Risk identification and input into audit planning/scoping and reporting for both Control Environment and Management Control Approach. Ensure adherence to Quality assurance requirements and manage audit risk throughout the audit. Manage stakeholder relationships at an accountable executive level for audit assignments. 
• Audit Delivery: Accountability for overall Portfolio Management i.e. managing quality of review in line with QA standards and the agile management of the BU/Function team to ensure efficient and valuable delivery of the BU/Function Audit plan. Manage ongoing communication with audit stakeholders including control owners etc. 
• Review and approval of Planning documents, sample work papers and audit issues and draft/final audit report. Clearance of audit report with the accountable executive.
• Issue Validation:  Ownership of issue validation process i.e. ensuring high quality and timely validation of audit issues (within stipulated KPIs). Approval of Issue validation work performed and sending out issue closure or re-open communication.
• Prepare monthly and quarterly combined assurance submissions, where relevant.
• Proactive management and reporting of open, long-overdue, re-opened issues and other audit results to internal and external stakeholder in order to play a role in ensuring a healthy control environment. Quarterly analysis of assurance delivered, with results classified into themes, root causes and insights. Actively contribute towards IA's contribution at the Group Control Environment Steerco.
• Changes to the audit plan well managed and only valid and responsible changes.
• Audit File Review Results for the portfolio should be within the File Review Risk Appetite. No material exceptions raised in QA reviews or audit reports to be re-issued. Timely remediation of QA exceptions (no overdues). Positive results (no significant issues) in the annual ISA 610 report. Positive Stakeholder Feedback results per Portfolio.
• Data analytics- all audits able to use data analytics, where possible. Re-useable scripts with a plan of demonstration of re-deployment.
• IA submissions to any and all stakeholder forums- to be risk based, of quality, include well analysed and articulated messaging and insights and require minimal re-work from CIA feedback.

Leadership / Culture / Values:

• Leadership/Values/Culture: Demonstration of Absa and IIA code of conduct values/behaviours in all aspects of work. Playing a positive role in team effectiveness sessions and in the unpacking of Colleague Experience Survey results.
• Team Player: Positive team engagement, helping build the desired culture for IA. Measure of success - all survey scores and feedback from stakeholders to be within target ranges, including Colleague Experience Survey.
• New Ways of Work: Timely adoption and role modelling of all new ways of work and enabling technology i.e. strategic initiatives/platforms/tools/solutions i.e. on effective date to ensure it supports implementation and embedment across function.
• Retention of talent and timely recruitment of approved roles and level of attrition within IA target range. Retention of staff: managing level of attrition within IA target range.
• Develop, Grow and Learn (Self and Team): Timely feedback on performance, development feedback, career development planning and training and Learning and Development (L&D) for self and team; succession plans in place for key roles, individual development plans in place for all team members.

Stakeholder Management:

• The key clients and stakeholders will be the PSC and Secured Lending Managing Executives. With emphasis on:
• Possess excellent communication skills (verbal and written) to effectively communicate to clients.
• Build relationships with the business on key initiatives, attending key committees and sharing their view of the business’ control assessments.
• Know our clients/customers and understand how the team’s work benefits them.
• Lead a team of professional and subject matter experts, who may be line managers themselves.
• Embed the performance culture and role model Group values and behaviours.
• Manage and lead teams through change, both individually and as a function.
• Actively contribute to the wider talent development of the function through coaching, mentoring, providing constructive feedback.
• Attract and retain talented individuals who can contribute to the Audit Function of the future, building a strong pipeline of skills and capabilities. 
• Align to IA overall principles for driving a profession, value adding, service oriented, digitallly savvy owner led stakeholder engagement approach for the portfolio

Qualifications & Experience:

• Relevant professional qualifications as appropriate (e.g. CA, CIA, CISA)
• Previous Financial services industry experience required especially within Global Markets and Investment Banking etc.
• Knowledge about new and emerging financial products and services.
• Experience of leading others during audit assignments.
• Previous experience working in regulated markets preferred

Skills:

• Proven experience of managing teams in a complex, matrix environment; adaptable leadership style
• Extensive experience in risk-based auditing or risk/control activities
• Thought leadership
• Evidence of driving change, leading business initiatives and setting direction and strategy
• Ability to communicate and influence at very senior levels in the organisation
• Passionate about developing talent and performance management
• Ability to think and operate in an enterprise wide capacity, contributing to the main effort of the Function over the demands of individual silos
• Stakeholder management

Education

• Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required), Postgraduate Degrees and Professional Qualifications: Statistics (Required)