Risk Assurance Specialist (Insurance) - Sandton at Absa Group Limited (Absa)

Key Responsibilities

• Ensure that all activities and duties are carried out in full conformance to the Enterprise Risk Management Framework (ERMF) as well as related Internal Absa policies and standards
• Administer the completion of Risk Assurance reviews in line with the Assurance Standard and Risk Assurance methodologies, including documenting the Risk Assurance approaches, executing testing strategies, maintaining working papers, and reporting on issues and recommendations.
• Conduct Risk Assurance engagements end-to-end, from engagement planning through to reporting.
• Identify key risks and controls from the process under review.
• Develop engagement procedures to validate the adequacy and effectiveness of key controls.
• Prepare and draft issues with thorough root cause analysis and practical recommendations.
• Compile the draft audit report and engage in discussions with various levels of management and project stakeholders.
• Support business with the remediation of issues reported by the Risk Assurance Function and other assurance providers.
• Engage business stakeholders and maintain effective follow-up and tracking of the remediation of weaknesses and gaps identified through issue validation.
• Evaluate and maintain quality standards in terms of the Risk Assurance Methodology and approach.
• Build relationships with stakeholders across the organizations and manage allocated portfolio(s) effectively.
• Contribute to defining a Risk Assurance plan that covers all business areas across the AFS Group and supports the Combined Assurance agenda across the group.
• Execute the Risk Assurance review plan to ensure conformance to frameworks, policies, and standards, including the Assurance Standard.
• Continuously stay abreast of industry developments and learnings on the topic of internal audit/ risk management and combined assurance.
• Collaborate with engagement stakeholders to ensure deliverables are achieved timeously.
• Drive data analytics testing strategies and real-time assurance initiatives through engagements

Key skills:

• Understanding of key controls and risk management
• Interpersonal, communication, and networking skills
• Analytical ability and logical reasoning
• Planning and organizing
• Writing and reporting
• Effective time management

Competencies:

• Collaborates – building partnerships and working collaboratively and inclusively with others to meet shared objectives
• Client focus – building strong client relationships and delivering client-centric solutions
• Drives results – consistently seizing opportunities and achieving results even under tough circumstances
• Flexibility and adaptability – rebounding from setbacks and adversity when facing difficult situations
• Cultivates Innovation – Creating new and better ways for the organization to be successful

Education and Experience Required

• BCom degree in Internal Audit/ Risk Management.
• Experience in insurance-related audit engagement and knowledge of insurance processes
• 4 to 5 years of internal auditing/ risk management experience.
• Experience with data analysis and analytics.
• CIA/IRMSA designation will be advantageous