Senior Audit Manager: Emerging Technology at Nedbank

Job Purpose

• The purpose of GIA is to provide independent, objective assurance to the Nedbank Group Limited Board of Directors via the Group Audit Committee (GAC) that the governance processes, management of risk and systems of internal control are adequate and effective to mitigate the risks (in line with GIA Methodology), both current and emerging, that threaten the achievement of the Group’s strategy and key objectives, and in so doing help improve the internal control and risk culture of the Group.  
• GIA receives its authority from the 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 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.

Job Responsibilities

ACCOUNTABILITY OF THE HEAD OF AUDIT 

   The Senior Audit Manager – Emerging Technology, in the discharge of his / her duties, shall be responsible, inter alia, to the Nedbank Group CIA / Portfolio Executive / s to: 

Audit Execution

•  Support the periodic assessments of the outcomes of internal audit work to appropriate governing bodies, including the GAC, Board Risk Committee, Executive IT Committee (EITCO) and Group IT Committee (GITCO); 
• Report on the overall effectiveness of the governance, risk and internal control framework of the Group; 
• Comply with regulatory and corporate governance expectations of the internal audit functions;
• Report significant Emerging Technology (i.e. issues related to the processes for controlling the activities of the Group, including potential improvements to those processes
• Develop and implement technology solutions within Group Internal Audit to gain efficiencies in current audit processes and reporting (i.e. Robotics, AI, Machine Learning etc);
• Report periodically on the progress of the Emerging Technology audit plan delivery; 
• Have in place a robust process to follow-up on management’s agreed actions to address Emerging Technology issues raised by GIA; 
• Responsible for the delivery and measurable performance of their respective Emerging Technology portfolio, including audit plan delivery
• Apply judgement to provide an overall audit opinion on the Emerging Technology system of internal controls of the Group;
• Provide insights from the outcomes of internal Emerging Technology audit work to appropriate governing bodies
•  Develop and maintain relationships with business, industry experts and key stakeholders to ensure robustness and completeness of audit coverage and contribute at an insight generator / trusted advisor to business to enhance assurance provided over the control environment;
• Contribute to the development of a 12-month rolling audit plan (including Emerging Technology) 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, macro and micro economic conditions; 
• Deliver and report on the rolling Emerging Technology risk-based internal audit plan
• Have a robust process in place to follow-up and report on management’s progress in implementing agreed actions to address Emerging Technology issues identified by GIA; and 
• Maintain an open and constructive relationship with the CIA, GIA HoA: Digital & Technology, Business executives, and key stakeholders by providing value added services and sharing information

Thought Leadership
        •    Researching and evaluating emerging technologies, such as blockchain, AI, and biometrics.
         •    Collaborating with internal teams to identify opportunities for integrating emerging technologies into existing systems and processes.
         •    Assessing the regulatory and compliance implications of implementing emerging technologies and ensuring adherence to industry standards.
         •    Monitoring industry trends and advancements to stay informed about the latest developments and potential disruptions.
         •    Participating in cross-functional teams or committees focused on innovation and digital transformation initiatives within the bank.

Job Responsibilities Continue
   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 of everything you do
• 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

  STANDARDS OF INTERNAL AUDIT PRACTICE

• GIA shall comply with the International Standards for the Professional Practice of Internal Auditing of the Institute of Internal Auditors (IIA), including the IIA’s Code of Ethics, the ten Core principles and best practice Internal Audit Methodology. 
• GIA will maintain a Quality Assurance programme to confirm adherence to IIA standards. The Quality Assurance programme will include an evaluation of the quality of the work performed by GIA and communication of these results to the Group Audit Committee.

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Preferred Qualification

•    Minimum required qualification: Commercial or related degree; 
•    Python Coding, App Development (or another relevant programming or coding Qualification)
•    Understanding of Disruptive technologies (i.e. GenAI, ML, RPA, IoT etc.)

Preferred Certifications

•    Significant technical knowledge on development, programming, its supporting technologies and processes.

Minimum Experience Level

•    8 – 10 years financial services experience in a senior position;
•    Emerging Technology implementation and utilisation experience (i.e. Robotics, AI, Machine Learning);
•    Ability to operate at a Senior level; and
•    Leadership experience leading teams.

Technical / Professional Knowledge

• Accounting standards
• Change management
• Financial Accounting Principles
• Governance, Risk and Controls
• Principles of project management
• Relevant regulatory knowledge
• Risk management process and frameworks
• Strategic planning
• Institute of Internal Auditors standards
• Code of Ethics