Internal Audit Manager - Third Parties at Absa South Africa

Job Summary

To plan, execute and manage audit assignments in accordance with the country and Group Audit plan and relevant policies, procedures and quality standards. The Audit Manager is responsible for the quality of the audit work performed and the efficiency and effectiveness of the audit team.

Job Description

KEY RESPONSIBILITIES

• Plan the delivery of assigned audits to a high quality and in line with Key Performance Indicators as per the methodology.
• Act as a mentor for auditors and peers to provide guidance to ensure that their work exceeds quality standards.
• Contribute to the annual planning process as requested by the Head of Audit
• Perform audits and issues assurance within Key Performance timelines and resource budget
• Engage with Centres of Excellences (CoE) at each stage in the audit process and give oversight to CoE colleagues working on the audit assignment.
• Develop testing strategies for key controls within the business to adequately mitigate the risk
• Manage the execution of Design Effectiveness Testing (DEA) and Operational Effectiveness Testing (OET) of the audit team
• Review the DEA and OET working papers of controls tested.
• Based on the reviews performed, provide effective feedback to audit staff during the audit assignment
• Engage with management and auditees on progress of audit and to provide regular feedback on issues identified where the control has failed.
• Proactively take on additional tasks as delegated by the Head of Audit / Audit Director.      
• Support the leadership team in generating value add management information for stakeholders (including various Committee Reporting)
• Use business knowledge to assess evolving risks, write high quality reports with observations/issues which are aligned to the Absa Internal Audit methodologies and are insightful, address the issues’ root cause, and have agreed actions.
• Raise observations/issues as early as possible and agree actions before completion of fieldwork and write concise, accurate executive summaries.
• Review management action plans to confirm that the identified risks associated to the control failure are adequately mitigated
• Share knowledge in area of responsibility with the team to ensure that audit activities are planned effectively and completed in line with quality standards and audit methodology.
• Working with colleagues in Business Units to provide requisite expertise in key areas where specific specialist knowledge is required to deliver appropriate, value-added assurance.
• Perform people management functions, including but not limited to:
• workforce and recruitment demand planning
• recruitment
• talent management and succession planning
• mentoring and coaching
• management of discipline and grievances
• performance development
• reward and recognition management
• training and development

COMPETENCIES

• Leading and Supervising
• Persuading and influencing
• Adhering to principles and values
• Presenting and communicating information
• Writing and reporting
• Applying expertise and technology
• Analysing
• Learning and researching
• Adapting and responding to change
• Planning and organising
• Deciding and initiation action

Minimum Requirements

• Five (5) years experience in risk based auditing or risk control activities
• Three (3) years experience in leading or managing an audit team
• Two (2) years exposure to outsourced operations and third party supplier management activities in a financial services, blue-chip, corporate environment etc.
• Displays an in-depth knowledge of current and emerging best practices and trends in sourcing and third party supplier management, including controls, regulations and the risk environment. Demonstrates an ability to translate these into audit strategies and delivery
• B. Comm Degree in Commerce or equivalent NQF Level 6 qualification  
• Proficient in MS Office (Word, Excel, PowerPoint and Outlook) and the Internet

Preferred Requirements

• Honours Degree related to Commerce or equivalent NQF Level 7 or higher qualification
• Shows a deep understanding of key operational processes and business drivers in the South African banking industry, including: information technology, marketing, payments and data privacy, finance management, retail and investment banking, and business continuity.

Education

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