Internal Audit Manager

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Job Summary

AIA’s purpose is to provide reliable, valued assurance to the Board and Executive Management over the effectiveness of controls mitigating current and evolving high risks and in so doing enhancing the controls culture within the Group.

AIA provides independent assurance to the Group CEO, Board Audit Committee and internal stakeholders, as well as certain external stakeholders (typically external auditors and regulators).

The core responsibility of an Internal Audit Manager within Absa Internal Audit is to execute audit assignments in accordance with the Absa Group Audit Plan and relevant policies, procedures and quality standards.

Job Description

Audit Delivery:

For the audits to which the Manager is assigned:

• Support the Audit Lead in scoping the audit where necessary.

• Understand and document allocated processes.

• Identify, assess & document risks and controls within these processes.

• Evaluate the design and operating effectiveness of controls & document this understanding in the AIA audit toolkit(s).

• Discuss and agree the factual accuracy of audit observations with auditees.

• Write high quality audit observations and support the Audit Lead in writing the report.

• Provide suggestions to management for actions to address control issues identified. Discuss these with Audit Lead.

• Regularly update the Audit Lead and audit team with progress and observations.

• Build effective working relationships with auditees. 

• Participate fully and supportively in all audits (both in Africa Subsidiaries and for other teams).

• Liaise effectively and have timely interactions with key local regulator/s in accordance with the AIA Contact with Regulators policy.

• Bringing to the attention of the relevant executive management control and risk management issues, weaknesses or irregularities of material significance in the existence or application of controls.

• Balance entity expectations of Internal Audit with AIA strategy and annual audit plans.

• Ensure that documentation throughout the audit lifecycle (scoping, understanding processes, identifying risks & controls, assessing controls and identifying issues) is accurate, reflective of work performed and supports conclusions drawn.

• Oversee the production of observations and audit reports which are concise and consider the perspective of business stakeholders and address the root cause.

• Adhere to report issuance KPIs.

• Produce insightful AIA Management Information.

• Communicate in an open, candid and complete manner cascading messages from the AIA ExCo and stakeholders with a sense of urgency.

• Listen effectively and actively probe for new and diverse ideas, encouraging others to share their opinion.

• Raise and discuss contentious observations with Executives and/or challenging management adapting their style as necessary to influence others positively and obtain their buy in.

• Have effective relationships with business management creating an atmosphere where ideas and information are easily exchanged. Make a positive impression on others.

• Support management in developing innovative action plans to address control issues identified

• Continue to update awareness of risk issues and changes across selected business units.

• Assist in the induction of new joiners, mentoring less experienced team members.

• Proactively take on additional tasks as requested by the Audit Lead – this may include managing Issue Assurance and production of team MI.

Knowledge Management

• Improve technical knowledge through self-learning or training.

• Share knowledge with AIA colleagues and peers in the business.

Additional Expectations

• Embrace all areas of the Group’s Equality and Diversity agenda.

• Ensure compliance with the Group’s Health and Safety requirements.

• Exhibit and perform in accordance with Absa’ Guiding Principles.

Mandatory Risk and Control objective

•  Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role

• Understand and adhere to the appropriate Absa Policies and Standards applicable to the role.

• Understand and manage risks and risk events (incidents) in the role thereby contributing to the adherence to the Absa Risk and Control Framework.

• Complete all mandatory training as required.

• Understanding developments in across business areas which may impact the audit plan including changing economic, market, and technology and risk environment.

• Oversight of audit work to ensure that risks and controls have been identified and correctly assessed.

• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.

• Should be able to perform complex analysis of work standards and procedures in other areas of the bank and provide recommendation / solutions and insights based on this analysis.

• Demonstrated deep understanding of the operations, risk management, finance and product control activities relevant to their roles.

• Be creative and innovative in the development of solutions to address issues identified.

• Continuously updating detailed awareness of risk issues and changes across relevant business areas and using this knowledge to input to audit strategy and direction.

• Understand developments in and across business areas which may impact the audit plan, including changing economic, market, and technology and risk environments.

• Use expert knowledge continuously to refocus audit planning and to define future planning direction

Role/Person Specification

Preferred Education:

• Degree or Professional Qualification in Accounting and/or Auditing with 7 years relevant audit experience as well as data analysis experience
• Educated to degree level or have equivalent business experience
• Preferred
• Formal qualification such as ACCA, ACIB, CPA, CIA, CISA and or business or risk related degree / qualification (or equivalent)
• Degree with 7 years relevant work experience with minimum 5 years at managerial level or Masters with 6 years’ experience or equivalent of 10 years bank related experience

Preferred Experience:

• Significant auditing experience and / or working at a senior management level in the financial services sector with a proven track record.
• Exposure to managing teams to deliver against tight deadlines.
• Significant report writing and presentation experience.
• Exposure to consultation and facilitation.
• Audit experience within a banking environment
• Experience in negotiation/influencing.

Knowledge & Skills:

Essential

• Understands the control, regulatory and risk issues in local jurisdiction or financial institutions.
• Displays familiarity and knowledge of relevant banks product/services/markets/policies.
• Demonstrates a thorough understanding of banking business and its key drivers.
• Demonstrates a thorough of functional areas within banks. e.g. finance
• Thorough understanding of the industry and/or knowledge of our competition
• Thorough knowledge of other areas within their function and how their processes and resources link together
• Experience in risk-based auditing or risk/control activities
• Displays willingness and initiative to learn about new products.
• Computer literate (strong MS office skills – Excel, Word and PowerPoint)
• Effective communication skills, both written and verbal.

Preferred

• Audit software skills such as Lotus Notes, ACL, etc.
• Specialist knowledge in a key high-risk area such as Credit Risk, Investment Banking, Information Technology, Risk, Finance, Treasury or Operations.

Technical Competencies:

Quality, High Standards and Controls

• Consistently apply AIA methodology in undertaking audit work which is focused on key risks and controls with efficient and effective test strategies.
• Define the standards and specifications around which others will operate
• Develop an in-depth knowledge of Absa and their business area and use this knowledge to assess risks and controls. Share knowledge across their team.
• Raise observations that are insightful, accurate, address the root cause and add value to the business.

Behavioural Competencies:

Communication / Influence

• Write workpapers that are concise, and which are accurate, reflective of work performed and support conclusions drawn. Do this with limited supervision.
• Write high quality observations which are concise and consider the perspective of the business.
• Work efficiently to help the team to adhere to report issuance KPIs.
• Communicate honestly, frequently and effectively.
• Listen effectively and be open to new and diverse ideas
• Influencing decisions through advice, counsel or facilitating services to others in area of specialisation.
• need to influence and convince Senior Stakeholders in particular colleagues in other areas of external customers

Relationship / Partnership Approach

• Display professional scepticism, raising and discussing contentious observations with management.
• Maintain effective relationships with business management.
• Provide suggestions to management for how they can address control issues.

Drive for Results

• Undertake audit work efficiently and use the most efficient audit tools.
• Be quick to learn and seek opportunities to share knowledge with colleagues.
• Priorities effectively to deliver on time.
• Adapt quickly to change and support departmental initiatives.

Team Building / Team Player

• Develop themselves - seeking coaching, training and continual feedback.
• Provide meaningful feedback to colleagues.
• Promote an inclusive and diverse working environment – treat colleagues with fairness and respect.

Education

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