Head Internal Audit
- Cape Town
- time type
- Full time
- posted on
- Posted Yesterday
- job requisition id
Your time is now to be your exceptional best at Old Mutual!
• The purpose of the role Head of Internal Audit is to design, maintain and
implement a function that effectively manages the Internal Audit function
as the third line of defense of the bank.
• The Internal Audit function provides independent assurance to the Board
and external stakeholders such as the PA and FSCA that appropriate
processes are in place to manage the risks the Bank faces.
• This role will be subject to a fit and proper assessment and approval by the
Audit and Compliance Committee and the PA.KEY RESULT AREAS
Internal Audit Assurance Plan
- Implement, manage and maintain an effective/ comprehensive internal audit assurance plan based on a comprehensive risk assessment process
- Identify and assess areas of critical and high risks including evaluation of risk profile and emerging risks to evaluate the soundness of the Banks controls as part of audits/continuous monitoring and closure verification work
- Ensure appropriate coverage for critical processes of the Bank
- Present the Internal Audit Plan to the Audit and Compliance Committee (ACC) for approval and provide regular reporting on the progress of executing the plan to the ACC
- Provide reporting on the progress and execution of the Internal Audit Assurance plan and provide a point of view on the controls of the Bank to manage the Bank’s risks.
- Document and communicate audit results and the opinion of the Bank’s control environment both orally and in writing in objective, clear, concise and timely manner.
Internal Audit function
- Design and capacitate the internal audit function to perform the duties assigned to it as the third line of defence to ensure audit coverage.
- Manage and lead the execution of audit activities showcasing strong project management and resource planning and successful track record of people management and team development.
- Implement and maintain the audit methodology of the Bank
- Manage and support risk assessments of Bank processes including in the evaluation of risks impacting the Bank
- Determine standards to evaluate internal control processes, including suitability of internal control design.
- Determine standards to review application of relevant policies and procedures, and assess compliance with local regulations, money laundering guidelines or industry practice etc.
- Develop and maintain effective working relationships with business units/ functional teams, including internally within the function
- Proactively participate in discussions with stakeholders of Bank on business relevant topics/matters and provides valuable insights on risks impacting the Bank
- Develop clear messaging of risks and controls in audit deliverables to the Banks stakeholders including Senior Management & Committees/ Regulators/ and Audit Committee
- Leads Internal Audits evaluation of Bank managements implementation of remediation actions / plans regarding audit and regulatory findings with the objective of strengthening the Banks internal controls
- Foster focus on high quality assurance to ensure i) compliance with policies/ procedures and processes based on applicable regulatory and industry guidance; ii) appropriateness for the size/ complexity/ and risk profile of the Bank; and iii) periodic changes to internal and external risk factors and ensure these are consistently followed
- Communicate Audit Strategy, Policies and Appetite across the bank
- BsC, B Com, CA or equivalent qualification
- Membership of the IIA or Internal Audit related training
- Management experience and training
- Minimum 10-15 years Internal Audit experience within the Banking or Financial Services Industry
- Exposure to banking senior management roles in internal audit, risk or compliance.
- Exposure to IT audits and audits of digital banking operations.
- Experience in managing and engaging regulators and the Board.
- Good communication skills to provide effective audit third line challenge.
- Team player with strong values towards our customers, our staff and our stakeholders.
- Maintain strong relationships that build trust.
- Experience in risk-based audit, internal financial control processes, governance frameworks, enterprise-wide risk management in banking
- Solid understanding of Internal Auditing concepts and internal control frameworks
- Strong analytical skills
- Knowledge of banking, banking systems
- Displays high levels of integrity, objectivity and impartiality and commit to high professional ethical standards
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit
18 March 2023Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.
All prospective employees are required to disclose their vaccination status as part of the recruitment process.
Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.