Audit Portfolio Manager at Nedbank

Purpose of Group Internal Audit (GIA)

• The purpose of GIA is to enhance the system of trust, good governance, and risk culture of the Nedbank Group in support of doing good for our key stakeholders: Board, Management, Regulators and Clients.  
• GIA receives its authority from the Group Audit Committee (GAC), which is a committee of the Board of Nedbank Group Limited established to, among other things, review the work of Internal Audit of Nedbank Group Limited and its subsidiaries (the "Group").

 
Objective and Scope of work of GIA

• The objective and scope of work of GIA is to determine whether the Group’s systems of financial and internal controls, risk management and governance, as designed and operated by management, are adequate and effective. 
• The scope of GIA’s work is determined by a risk-based approach and so the key risks facing the Group, including subsidiaries, and the requirements of the GAC, subsidiary Audit Committees and the Group and subsidiary Executive Committees. This should include alignment to business strategic priorities.

 
Accountability Of The Audit Portfolio Manager
The Audit Portfolio Manager: Assurance Enablement: Professional Practices, in the discharge of his/her duties, shall be accountable, inter alia, to the Nedbank Group CIA / GIA HoA Business Enablement / HoA Assurance Enablement to: 

• Support the periodic assessments of the outcomes of internal audit work to appropriate governing bodies, including the GAC and Board Risk Committee; 
• Provide insights from the outcomes of internal audit work to appropriate governing bodies including the GAC and Board Risk Committee;
• Ensure continuous improvement of the audit methodology through providing professional insights;
• Report significant issues related to the processes for controlling the activities of the Group Internal Audit, including potential improvements to those processes; 
• Report periodically on the measurable performance of GIA, including audit plan delivery and financial performance;  
• Support the maintenance and reporting on whether GIA has sufficient professional audit staff with knowledge, skills, experience and professional qualifications to meet the requirements of the GIA Charter and audit plan; 
• Conduct leading practice research and benchmarking of the audit function, related industry standards, trends and key risk focus areas to enable both the Annual Audit Planning and Individual audit assignment planning, execution and reporting 
• Maintain an open and constructive relationship as a Trusted Advisor with internal to GIA and external stakeholders.
• Implement effective and efficient audit processes to ensure that audit processes are optimised and comply with regulatory and corporate governance expectations of internal audit functions.
• Ensure improved productivity and the delivery of projects within agreed timelines. Ensure transformational target are met;
• Achieve operational excellence and support the implementation of business optimisation improvement in GIA;
• Identify and ensure compliance with laws, regulations, and guidelines and improve control culture;
• Identify and consider internal and external factors to develop and update annual risk-based audit plan with clear levels of accountability
• Contribute to the development of a 12-month rolling audit plan using a risk-based methodology, taking into consideration specific business strategic focus areas, regulatory requirements pertaining to internal audit, as well as including any risks or control concerns identified by management, the GAC and the Board; 
• Have a robust process in place to follow-up and report on management’s progress in implementing agreed actions to address issues identified by GIA;  
• Maintain an open and constructive relationship with the GIA, and key stakeholders by providing value added services and sharing information.
• Manage the implementation, execution and delivery of professional practice management projects (i.e. audit methodology, practice risk management, knowledge management etc.) and provide support to other GIA teams;
• Contribute to value-adding reports that provide intelligence and meaningful insights that enable the management of risk to be a strategic and competitive differentiator for Nedbank

 
Nedbank Gia Specific Requirements Of The Role

• Support people management across GIA
• Recruitment and retention in line with key specialist skills required
• Talent management of identified key individuals within GIA
• Learning and development for all individuals in GIA (including administration of costing and logistics around these courses)
• Ensure adequate and appropriate knowledge management processes and procedures are in place
• Provide technical and advisory support to GIA in relation to International Professional Practice Framework Standards, Code of Ethics, the Definition of Internal Auditing and any other related professional standards and latest ways of work in audit execution and management
• Provide guidance and training on the GIA Methodology (including support to Rest of Africa).  This will include on-going updating of the Methodology and ensuring that the Methodology is adhered to.
• Work closely with the Business Enablement to ensure continuous improvement of Methodology, and GIA processes and procedures.
• Provide adequate support to internal quality assurance of the GIA function and related reporting.
• Build and maintain relationships with the other lines of defence, with key focus on driving coordinated assurance across the assurance functions.
• Lead and drive the engagement with Enterprisewide Risk Management Stakeholders regarding Group Frameworks, Policies and Guidelines such as the Common Risk Language, Coordinated Assurance Guidelines, ERM Framework & Policy etc, 

 
Provide Visionary And Inspirational Leadership

• Implement the vision and strategy including the leadership and culture philosophy, stakeholder approach and internal methods and tools. This should include alignment to the Nedbank and Business Unit strategy.
• Exhibit diverse, visionary and inspirational leadership - promoting a globally competitive financial sector
• Actively participate in the Group’s Combined Assurance Model.    
• Build a high-performance team through managing resources, retention and critical staff.
• Manage performance of reports and hold them accountable for managing the performance of their reports by taking corrective action as required, recognising and rewarding team.
• Actively build a culture of improvement by ensuring the design and implementing active talent management, succession planning strategies for division and obtaining buy-in from relevant stakeholders. 
• Contribute to team effectiveness by participating in the recruitment and selection of senior staff. 
• Optimise performance and motivation by holding managers and auditors accountable for developing their staff and themselves.
• Empower team to make decisions and recommend tailored solutions to business unit specific problems, through coaching and mentoring practices. 
• Maintain and report on whether the respective Audit portfolio has sufficient professional audit staff with knowledge, skills, experience and professional qualifications to meet the requirements of the GIA Charter and audit plan
• Facilitate engagement and information sharing sessions amongst peers. Synergies across clusters and business units achieved.
• Take ownership and accountability for tasks and activities and demonstrate effective self-management.
• Follow through to ensure that quality and productivity standards of own work and team are consistently and accurately maintained.
• Support and drive the business's core values.
• Respond openly and constructively to feedback (positive and negative).
• Be a vision-led and values-driven leader

 
Embodiment of the following characteristics:
Risk Optimiser

• Understanding that risk is at the centre of everything in banking
• Developing the appropriate risk appetite
• Managing risk without stifling innovation 
• Being sensible about risk

Client Centric Advocate

• Placing the client at the centre
• Being relationship focussed (as opposed to product or mono-line focussed) 
• Collaborating with colleagues across organisational boundaries

Execution Expert

• Having a bias for action
• Focussing efforts on execution and implementation
• Practicing decisive leadership
• Simplifying things

Strategist

• Being a strategic thinker
• Being a strategic translator
• Being a strategic doer 
• Facilitating strategic dialogue 

People Specification
Essential Qualifications

• 4-year BS or Bcom Degree in a related field with 5 years post qualification job-related experience 
• Certified Internal Auditor (CIA) and other relevant professional qualifications

Preferred Qualifications

• Chartered Accountant (CA(SA)
• Master’s Degree in business (MBA) or equivalent
• Five or more years’ experience in a Management role

Experience Required
The following minimum experience is required:

• Financial services audit experience in a management position.
• Banking experience, inclusive of client facing experience (preferably).
•  Ability to operate at a Middle Manager level

The following additional experience is preferred:

• Internal audit and / or risk management experience in banking.

Technical / Professional Knowledge

• Audit reporting
• Audit standards and practices
• Banking knowledge
• Governance, Risk and Controls
• Ethics and Fraud
• Reputational risk management
• Information technology
• Business writing skills
• Regulatory, Legal and Economics Principles
• Business Acumen

Behavioural Competencies

• Managing Work
• Monitoring Information
• Building Partnerships
• Quality Orientation
• Continuous Improvement
• Work Standards
• Courage
• Adaptability