Closing Date 2022/02/27
Reference Number DBS220215-2
Job Title Chief Internal Auditor [Midrand]
Job Grade 19
Job Type Classification Permanent
Location - Town / City Midrand
Location - Province Gauteng
Location – Country South Africa
JOB DESCRIPTION
1. The purpose of this role is to ensure that the DBSA has an effective internal audit function that complies with best practices as well as the Institute of Internal Auditors standards.
2. The Chief Internal Auditor is required to give assurance to the Chief Risk Officer Chief Executive Officer and the Audit & Risk Committee by assisting the DBSA to achieve its objectives of bringing a disciplined and systematic approach to evaluating and improving the adequacy, effectiveness and efficiency of control, risk management and governance processes.
KEY RESPONSIBILITIES
1. Chief Internal Auditor (CIA), in consultation with the Chief Risk Officer (CRO), Chief Executive Officer (CEO) & the Audit & Risk Committee (ARC) formulate, develop and implement the approved Internal Audit Strategy & Plan (IA).
2. Oversee and ensure that the following audits, amongst others, are conducted on a periodic basis as detailed in the approved Audit Plan:
1) Governance Review;
2) Risk Management Review;
3) IT security, cybersecurity and systems processes audit;
4) Audit of organisation and all divisions performance information;
5) Mandatory and discretionary grants; Loans granted / disbursed; syndicated loans;
6) Financial controls; including reviewing and assessing the effectiveness of financial controls and the accuracy of DBSA financial reports.
7) Supply Chain Management;
8) Human Resources;
9) Monitoring & Evaluation;
10) Contingent liabilities;
11) Commitments Register;
12) Follow up on all audit findings
13) Special assignments and investigations on behalf of ARC, CEO and the CRO, including any other matter or activity affecting the probity, interest and operational efficiency of the Bank
3. Support the work of the CRO in directing the identification and evaluation of the organisation’s risk areas.
4. Ensure that all work conforms to the Standards for Professional Practice of Internal Auditing.
5. Develop, implement, monitor and oversee the Fraud Prevention Programme.
6. Act on all fraudulent activities/allegations of corruption/breaches reported to the Internal Audit Unit and ensures that these are fully documented and investigated where necessary.
7. Analyse and report on outcomes of investigations and provide recommendations in terms of improvements based on the outcome of various investigations conducted.
8. Identify serious flaws in internal controls, which might result in possible malpractices, where serious fraud and irregularities have been uncovered and report such to the CRO, CEO and ARC.
9. Monitor external and internal audits to address audit findings.
10. Partners closely with key internal and external stakeholders to ensure optimal combined assurance to the Board and Management and ensure that key risks of the Bank are appropriately addressed.
11. Promptly communicate the results of audit and consulting projects via written reports and oral presentations to management and the Exco / Board / ARC in accordance with the annual IA plan.
12. Provide quarterly and annual audit reports to the CRO, CEO and ARC detailing its performance against the approved audit plan to allow effective monitoring and intervention when required.
13. Play a lead role in embedding the principles of good governance in the Bank and ensuring that the standards of ethical behaviour are upheld.
14. Provide support to the External Auditors in the completion of the statutory annual audit.
15. Perform continual internal and external assessments of the Internal Audit function to improve its effectiveness and achieve reliance by the external auditors on the internal audit function.
16. Direct audit staff in the planning, organising, directing and monitoring of Internal Audit operations, including assisting in hiring, training and evaluating staff; and taking corrective actions to address performance problems.
17. Prepare various audit reports, documents and management reports for ARC, Executive Committees, Boards and Stakeholders.
18. Performs related work as assigned by the CRO, CEO & ARC.
Key Measures
1. Approved Audit Plan by ARC.
2. Successful implementation of the Audit Plan – all mandatory audits are completed within stipulated timeframes.
3. Quality of audit reports and presentations.
4. All audits are documented, findings raised with business and addressed within the stipulated timeframes.
5. Combined Assurance Evaluation & Report completed and approved.
6. Effective management of Internal Audit Team
Key Internal Liaison Relationships
1. Chairperson: Audit & Risk Committee
2. CEO
3. CRO
4. DBSA Executive Management
5. All Divisions
Key External Liaison Relationships
1. DBSA key stakeholders
2. External audit provider
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EXPERTISE & TECHNICAL COMPETENCIES
1. A post graduate qualification or equivalent, preferably a CA or CIA Qualification
2. A minimum of 10 years’ experience of the above job function at a Senior Management Level with demonstrated ability to manage a team of high-level audit professionals.
3. Professional membership with the Institute of Internal Auditors.
4. Considerable knowledge of the Standards for the Professional Practice of Internal Auditing and the Code of Ethics developed by the Institute of Internal Auditors (IIA)
5. Extensive knowledge of combined risk assurance, legislation, regulations, policies, processes and procedures governing the infrastructure planning and development in South Africa (e.g., PFMA).
6. Proven ability to lead complex audits, fraud or other investigations and projects to finality.
7. Demonstrated knowledge of management information systems terminology, concepts and practices
8. Experience in auditing within banking and/or financial sectors.
9. Demonstrated experience in working with CEO’s, Executives, ARC, Board Committees Management and employees
10. Experience in preparing comprehensive audit reports, management reports, presentations and recommendations for Exco, ARC, Board and business.
11. Exceptional computer skills in excel, word and PowerPoint.
Desired
1. Sound knowledge of Public Finance Management Act, Treasury Regulations, Municipal Finance Management Act, King IV and Procedures and Corporate Governance prescripts.
2. Supply chain management and processes.
TECHNICAL COMPETENCIES:
Presentation skills
1. Knows how to deliver arguments persuasively by employing a range of advanced presentation techniques (e.g., the appropriate use of body language, how to close a presentation so that the audience continues to think about the subject matter etc.).
2. Has knowledge of various feedback mechanisms to check levels of audience understanding
Reporting
1. Designs, reviews and improves reporting processes and provides guidance.
2. Leads production of complex environment reports, takes an editorial role, determines content and level of detail, and ensures consistent messaging and branding.
Business Acumen
1. Takes actions to fit business strategy.
2. Assesses and links short-term tasks in the context of long-term business strategies or perspectives.
3. Reviews own actions against the organisation's strategic plan; includes the big picture when considering possible opportunities or projects or thinks about long-term applications of current activities.
4. Anticipates possible responses to different initiatives.
5. Understands the projected direction of the industry and how changes might impact the organisation.
Policies & Procedures
1. Is able to evaluate existing policies and procedures in terms of their suitability in light of the broader business agenda.
2. Has sufficient sector expertise to be able to scan the market to obtain examples of best practice in own area of specialism.
3. Can develop new policies and procedures where required, aligning them with DBSA strategy and appropriate legislation.
4. Is able to present recommendations to senior management for approval in a concise manner.
Project Management
1. Defines, plans and manages large and/or strategic projects, including those with a high degree of technical complexity, with impacts across the organisation and/or with national implications.
2. Assembles and leads diverse and multi-disciplinary teams, ensuring maximum effective resource utilisation.
3. Successfully manages substantial project budgets, and reports directly to senior managers on the progress and results of projects.
4. Identifies complex issues that need escalation and proposes appropriate corrective actions.
Planning & Organizing
1. Coaches others on advanced planning and organising skills.
2. Plays a role in transferring advanced planning and organising skills and knowledge to others.
3. Identifies and acts on opportunities to partner with other units in the department to achieve desired results.
4. Develops partnership agreements that ensure win-win outcomes for all parties. Develops integrated plans for the work unit and others that interfaces with the function’s budget.
Audit
1. Serves as a subject matter expert and/or technical point of contact for quality assurance activities in the organisation.
2. Stays current with, and shapes the evolution of QA by participating in standards committees.
3. Performs highly complex financial and/or management audits in all areas of the organisation to identify, resolve, and/or recommend solutions to management control problems, standards, and test the financial and budgetary controls, documenting any weaknesses.
4. Outlines task schedules which comply with general audit programme guidelines.
5. Knowledge and experience to serve as a project leader in working with external auditors, providing them with the required financial information, and collaborating widely to facilitate change.
6. Ensures that correct procedures are followed and that documentation is prepared in accordance with international best practice standards.
7. Provides ad-hoc advice to help departments achieve compliance.
Detail Orientation
1. Quickly identifies relevant and irrelevant information to support accurate decision making.
2. Maps out all the logistics and details of a situation to ensure smooth and flawless implementation.
3. Consistently identifies all relevant details that are not obvious in complex situations.
4. Requires the highest standards for accuracy and quality for their work.
5. Establishes processes to ensure accuracy and quality of services delivered by the team.
REQUIRED PERSONAL ATTRIBUTES
LEADERSHIP/BEHAVIOURAL COMPETENCIES:
Leading & Empowering Others
1. Identifies long-term goals for the team and communicates them to team members, ensuring their buy in.
2. Sets a good example by personally exercising desired behaviour; acts on values and beliefs.
3. Communicates a vision for the team and future success that inspires team members.
4. After assessing others’ competence, delegates full authority and responsibility to others to do a task in their own way.
5. Ensures that competent employees are given opportunities to further their careers.
Leading & Managing Change
1. Anticipates the need for change when not obvious and influences others to gain support. Builds sustainable business and organisational capacity to embrace and thrive on change.
2. Re-engineers and aligns structures, processes and practices to support and sustain the desired change.
Strategic & Innovative Thinking
1. Understands connections and trade-offs of strategic choices to evaluate which ideas are practical and possible by considering business and/or scientific implications.
2. Develops innovative business and/or customer solutions that shape industry practices
Teamwork & Cooperation
1. Acts to promote a friendly climate and good morale, and resolves conflicts.
2. Creates opportunities for cross-functional working.
3. Encourages others to network outside of their own team/department and learn from their experience.
Developing Others
1. Gives specific feedback for developmental purposes.
2. Gives negative feedback in behavioral rather than personal terms.
3. Reassures and/or expresses positive expectations for future performance when giving corrective feedback.
4. Gives individualised suggestions to individuals for their improvement.
Driving delivery of results
1. Identifies and implements a business opportunity that will have a long-term impact on the business (which may include the organisation’s reputation or brand image). Monitors progress and adapts the plan if necessary to ensure optimal benefit to the business.
2. Makes decisions, sets priorities, or chooses goals on the basis of inputs and outputs: makes explicit considerations of potential profit, return on investment, or cost benefit analysis.
3. Based on the cost-benefit analysis, makes decisions of entrepreneurial risk nature.
Decisiveness (High Performance, Service Orientation)
1. Makes timely decisions about complex issues even when some information is missing.
2. Makes decisions and stands by them even when they are controversial or unpopular. Grasps critical business opportunities when they arise by making timely decisions.
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