Manager Audit IFRS & Tax at Standard Bank Group

Please only apply if you are a qualified CA (SA)

Job Purpose

• To review and assess the high risk areas of the business in order to give assurance to the Group Audit Committee, Business Executives and Shareholders that good governance practices are in place and internal controls are exercised throughout the financial period. Provide support in ensuring the achievement of the Group Internal Audit function mission which is to provide independent, objective assurance and consulting services that are designed to add value and improve Group operational controls. Support Group Internal Audit in accomplishing its objectives by bringing a systematic, disciplined approach to the evaluation and improvement of the effectiveness of risk management, control and governance processes.

Key Responsibilities/Accountabilities

Review and implement functional and service strategy

• Understand the GIA strategy and its link to Group Strategy.
• Understand and Comply with the GIA standards and methodology as defined and supported by the audit tool.
• Execute allocated operational plans in line with the GIA strategy.
• Create and manage component of overall project plan. Meet assigned budget and project milestones. Provide formal weekly project status updates/reporting.
• Contribute to definition and delivery of team goals and KPIs to support delivery of GIA annual performance goals.
• Provide input to all committee reports as required.

Manage relationships for allocated portfolios

• Build and foster a good relationship with business units, enabling functions, risk and compliance management stakeholders (all relevant levels of management impacted by the service) especially those working in your allocated audit portfolio - through regular communication and formal status reporting.
• Build and foster a good working relationship with internal audit teams and colleagues (all relevant service teams and management levels) to promote cross skilling and optimise cross team delivery - through regular communication.
• Understand detailed business process activities as well as activities performed in enabling functions that support these.
• Understand annual key risk concerns for the business area as well as industry and latest trends impacting risk and control practices
• Maintain core competency (technical) knowledge and best practice within portfolio. Review and provide feedback to GIA Operations regarding updates / enhancements required to GIA Standards and Methodology.
• Identify and recommend areas of improvement (to accountable process owners) in the control environment of your allocated audit portfolio and other areas of the group.
• Report or share information on emerging trends and potential solutions for addressing control weaknesses, process efficiency challenges or resolving open audit issues.

Provide the third line assurance services

• Contribute to development of the GIA Annual Audit Plan applying a risk based approach.
• Ensure the annual plan is kept updated with operational changes during the year.
• Deliver all allocated assignments within with agreed time, scope and budget.
• Define scope, approach and detailed plan and allocate resources. Manage and control delivery of the assignment plan, report and close audit/advisory/proactive assurance assignments where LEAD role is allocated.
• Deliver allocated components of the audit/advisory/proactive assurance assignment and report on these according to the GIA methodology and GIA quality standards.
• Contribute to continuous enhancement of quality control standards and toolkits for audit assignments.
• Complete all assigned / functional working papers, from planning to report within deadline, and ensure correct classification and allocation of findings in the Audit Tool.
• Report key issues or audit findings accurately in a succinct, impactful manner, clearly articulate and substantiate materiality or significance of the risk and its impact.
• Recommend an appropriate corrective action, and obtain management commitments for correctives actions and record these accurately as agreed.

Manage Audit database for future use

• Contribute to continuous enhancement of the service delivery framework components under the custody of the allocated audit service area.
• Ensure that the knowledge database is kept up to date with key portfolio information.
•  Stay abreast with best practices, industry regulations, risks, audit techniques and tools through research, association with profession bodies, etc

Provide operational management for own portfolio

• Update the resource allocation schedule as required.
• Provide input to a monthly report of Progress/Status against all active assignments (in the portfolio) updating all reporting tools.
• Track, review/provide Progress/Status against allocated open audit issues update issue tracking database and provide MIS to auditees and management committees.

Preferred Qualification and Experience

Qualification

• Qualified Chartered Accountant registered with the South Africa Institute of Chartered Accountants (SAICA)

Preferred other qualifications, certifications or professional memberships (preferred):

• Certified Financial Risk Manager (FRM), Chartered Financial Analyst (CFA) and/or Professional Risk Manager (PRM), Certified internal auditor (CIA)

Experience

• 5 - 7 years’ experience (post articles) in the financial services industry
• 1 - 2 years detailed IFRS knowledge and ability to provide technical specialist accounting support.
• 3 - 4 years general Financial Accounting experience
• Financial accounting
• Financial analysis

Other preferred qualifications, certifications or professional memberships (preferred):

• Certified Financial Risk Manager (FRM), Chartered Financial Analyst (CFA) and/or Professional Risk Manager (PRM), Certified internal auditor (CIA),

Knowledge/Technical Skills/Expertise

Maintain IA Professional Practices 

• Knowledge of Internal Audit International Professional Practices and apply them to improve the audit methodology, and as a quality standard for audit engagement deliverables to ensure continuous improvement of the audit function.

Promote Good Governance, Risk and Control

• The ability to assess governance and control frameworks against the appropriate risk appetite and enhance the risk management culture in line with the organisational objectives.

Champion Improvement and Manage Change

• The ability to initiate and manage change, continuous improvement and innovation and encourage others to do that same, while assessing risks and barriers for change and adapting audit activities.

Apply Critical Thinking

• The ability to apply problem solving techniques and appropriate research data to appraise the efficiency and effectiveness of business processes and identify and provide new insights and practical business solutions that can be implemented.