Independent Fraud And Risk Management Committee Chairperson (3 Year Contract) at Drakenstein Municipality

• The municipality hereby invites applications from suitably qualified persons to serve on Drakenstein Municipality’s Fraud and Risk Management Committee (FARMCO). The incumbent will chair the FARMCO meetings, established to advise the accounting officer on risk management, in fulfilling his functions as required by the Municipal Finance Management Act (MFMA).

Minimum Requirements:

• Post graduate degree in Risk Management;
• At least 5 years’ experience in the integrated risk management, fraud risk management as well as the combined assurance environment;
• Good understanding of the public sector business and control environment;
• An independent external person, with excellent knowledge of risk management, corporate governance, including King V, the MFMA, the COSO model as well as the Public Sector Risk Management Framework; and
• Proven experience as a member of a risk management committee and/or audit committee.

Additional Requirements:

• Previous experience as a chairperson of a fraud and/or risk committee or audit committee;
• Members may not serve on more than three audit and/or fraud and risk management committees to ensure that sufficient time is available for the business of Drakenstein Municipality;
• Applicants in service of the state, in any capacity, will not be considered; and
• Membership of the Institute of Risk Management South Africa (IRMSA) will be an added advantage.

Key Responsibilities:

• Provide oversight on the review and monitoring of the implementation of the risk management framework, policy, charter and strategy within the risk management division;
• Provide guidance on integration of risk management into the municipality’s planning, monitoring and reporting processes;
• Provide advice/guidance on setting and review of risk appetite levels;
• Provide advice/guidance on anti-fraud measures;
• Provide proper and timely reports to the accounting officer on the state of risk management; and
• Perform any other duties of the FARMCO as specified in the terms of reference.

Remuneration: The remuneration rates will be R1640/hour for attending a FARMCO meeting. A preparation fee will be payable, at half of the applicable hourly rate. Remuneration rates will be based on the remuneration paid to members of the audit committee and are revised annually in line with Council’s budgeting processes.

Note: This is not a permanent position on the staff structure of the municipality. The successful applicant will be appointed for a 3 year term and will only be paid for attending formal meetings of the Fraud and Risk Management Committee and for preparation time as set out above. Re-appointment for a maximum of two terms, may be considered. Preference will be given to candidates from the Western Cape especially from the Drakenstein municipal area.