Divisional Head Internal Audit Department at South African Reserve Bank

Brief description

The purpose of this position is to provide managerial leadership to the Corporate Functions Division; plan, organise and oversee audit projects for the South African Reserve Bank Group (SARB Group); and evaluate and appraise governance, risk, the adequacy and effectiveness of control systems and the quality of performance.

Detailed description

The successful candidate will be responsible for the following key performance areas:

• Co- develop strategic and audit functional plans aligned to the SARB Group and the departmental strategy, communicate and clarify the vision and strategic goals of the SARB Group and the Internal Audit Department (IAD), and clarify performance expectations for the division.
• Plan, organized oversee the implementation of strategic projects in line with the strategic plan.
• Plan, organise and oversee the execution of audit projects (i.e. assurance, ad hoc or consulting) in line with the annual audit plan.
• Keep up to date with developments in the internal audit profession and conduct research in areas affecting the business of internal clients to proactively add value to their business.
• Oversee the compilation of executive and individual audit reports for audit projects executed.
• Coordinate audit efforts with all other assurance providers and ensure the provision of assistance to external auditors in respect of the functions within the SARB Group.
• Ensure compliance with all legislative and regulatory requirements of the SARB Group, and that risks within IAD and the divisionare identified, assessed and effectively mitigated.
• Manage internal and external client relationships, ensuring client satisfaction at all times.
• Provide management information in respect of the division.
• Lead, manage and develop staff members.

• Contribute to the development, implementation and maintenance of methodologies, policies, procedures and systems for the provision of internal audit services.

QUALIFICATIONS

To be considered for this position, candidates must have:

• an Honours degree in Business, Commerce or Technology.
• a Chartered Accountant (CA) or Certified Internal Auditor (CIA) qualification; and
• a minimum of 10–12 years’ experience in an internal audit environment with at least five years in a senior management position.

The successful candidate will be required to demonstrate a sound knowledge of and ability to apply:

• the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework and other governance and control frameworks.
• data analytics.
• the International Standards for the Professional Practice of Internal Auditing, supported by proven internal auditing experience.
• internal audit requirements per the Institute of Internal Auditors (IIA) Standards.
• International Financial Reporting Standards (IFRS);
• strategy formulation and implementation;
• governance, risk management and compliance; 
• continuous auditing; and
• project management. 

Additional requirements include:

• a strong understanding of accounting standards and finance;
• adherence to the IIA Code of Ethics;
• leading change;
• developing and growing others;
• effective communication;
• impact and influence;
• judgement and decision-making;
• strategic thinking; and
• innovation and creativity.