Specialist: Combined Assurance at Transnet

Position Purpose

• To develop and manage the control compliance to maintain a satisfactory control environment and providing stakeholder assurance thereby assisting in the achievement of its strategies. implementation of sustainably effective internal controls across the Transnet Pipeline.
• Create a control environment that is conducive to the practice of efficient and effective Integrated Combined Assurance activities through design of adequate policies, procedures and frameworks, as well as appropriately designed accompanying instruments to enable proper Integrated Combined Assurance oversight, planning, implementation, monitoring, and reporting across Transnet Pipelines.

Position Outputs

• Development of the Combined Risk Assurance Universe for TPL across strategic, tactical and operational levels and risks that includes all the auditable units, various risk factors to enable Executive and Senior management and related Governance forums to obtain a comprehensive, holistic view of the effectiveness of internal controls over their organisation’s governance, risk management, and key business processes to enable setting of priorities and to respond with any appropriate actions.
• Co-ordination and optimisation of risk based assurance activities across TPL to reduce assurance costs, audit fatigue & frustrations, increase efficiencies and avoid duplication and create alignment to achieve strategic goals. Optimisation through planning and responding to the organisational objectives and targets, key performance indicators, resources, complexity of the internal and external operating environment, critical business activities, statutory obligations and the outcomes of prior internal and external assurance reviews.
• Regularly update the Combined Risk Assurance Universe by continuously analysing assurance coverage and identify possible duplicates and areas of inadequate coverage and assess frequency of assurance activities i.e quarterly, annually, every three years etc.
• Co-ordinate and review assurance reports and submission to the management committee of TPL established to coordinate and monitor the design and implementation of the Combined Assurance management processes and relevant outcomes.
• Oversight and management of the Combined Assurance Management System that is used to integrate and report on Combined Assurance initiatives and status within TPL.
• Assist in the development of assurance plans for the various lines of assurance within TPL. Monitoring status of corrective and preventative measures to drive the successful outcome of the Combined Assurance model at TPL.
• Oversight of the resource planning to ensure the right competence for the assurance activities are sufficient and adequately resourced to complete the required assurance activities.
• Lead the development and execution of lines of assurance in terms of professional standards and accreditation and levels of independence and objectivity.
• Collaboration and integration with relevant assurance providers and management to ensure alignment to Combined Risk Assurance Universe and successful execution of lines of assurance.
• Monitoring the activities of the internal and external auditors to ensure that sufficient, objective, reliable and relevant information is obtained to achieve the assurance plan objectives via prevent, detect and correct assurance activities.
• Preparation of assurance reports that details outcomes of assurance reviews with the overall assurance assessment in line with relevant TPL Policies and Procedures.
• Facilitate close out meetings with Executive and Senior Management to discuss and agree on Assurance reports, audit outcomes and action plans for any recommendations to enhance the assurance activities.
• Monitoring and tracking of assurance outcomes and action plans arising from Assurance Reports to ensure recommendations are implemented to improve the control environment across TPL. Escalation of outcomes that have exceeded committed resolution dates and/or age analysis trends to Senior Manager Governance, Risk and Controls, Chief Financial Officer and other Executives.
• Assist in training and awareness across TPL to ensure all stakeholders are adequately trained and knowledgeable on the Combined Assurance Policy and procedure outcomes.
• Develop key performance indicators for relevant Combined Assurance stakeholders i.e. first, second and third lines of assurance to drive a culture of compliance and achievement of Combined Assurance deliverables.
• Research Combined Assurance best practices for benchmarking and drive continuous improvement of the Combined Assurance function across TPL.
• Provide technical support on Combined Assurance to all employees and stakeholders across TPL.
• Presentation of Assurance Reports at Governance Forums across TPL and Transnet.

Qualifications and Experience

• Post graduate degree in risk, accounting or auditing
• 6-8 years’ experience is in a financial compliance role is required, involved in conversion of risk, and provide improved controls.
• Requirement of trust and honesty in the handling of finances as per the National Credit Act Amendment 19 Standard Job Requirements
• Driver’s license code 08