Closing Date 2023/01/16
Reference Number LAN221204-1
Job Title Chief Audit Executive [Centurion]
Division Office of the CEO
Unit Internal Audit
Job Type Classification Permanent
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
ABOUT
The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa’s only specialist agricultural bank established in 1912, the bank’s sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach. These services enable farmers to finance land, equipment, improve assets and obtain production credit. The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry. As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people.
MAIN PURPOSE OF THE JOB
1. The Internal Audit function operates as independent appraiser, responsible for examining and evaluating business activities and related risk for the purpose of ensuring regulatory compliance, safeguarding company assets and improving its systems of financial and operational controls.
2. The role will ensure that all audit work conforms to the Standards for the Professional Practice of Internal Auditing.
3. In addition, this role will lead financial and accounting investigations including forensic matters.
4. The role reports functionally to the Audit Committee and administratively to the Chief Executive Officer, and will provide it with formal assessments of the adequacy of the Company’s internal control environment on a quarterly basis.
5. The job requires a dedicated focus to continue efforts in stabilizing the internal audit’s organizational infrastructure necessary to deliver against current and future objectives of the division; including, the use of various staffing alternatives (including co-sourcing arrangements) as necessary to ensure organizational capabilities (structure, processes and systems) are in place to meet the Land Bank needs.
6. A risk based approach to setting of the Audit Plan is critical given the changes in the Land Bank direction (vision25) and restoration of the controls required to manage the Land Bank processes. In depth understanding of ICT audits (CAATS) are critical for the Land Bank as the organisation is in transition towards a SMART ITC environment.
7. Develop an Internal Audit strategy aligned to the business strategy. Develop a strategy execution plan and implement. Develop and maintain independent relationship with Land Bank Group leadership. Reports to the Land Bank Group Audit Committees and other Board Committees. Oversees the business risks and effectiveness of controls to the Land Bank Group. Provides leadership and support to the Internal Audit team in implementing programmes to evaluate the adequacy of the internal controls environment. Is a conduit between Land bank Group and Auditor General. Manages the approach and processes to conduct and provide independent forensic investigations, fraud risk assessments and fraud awareness programmes.
Mandate: Line of defence that protects internal control and integrity. Need to develop techniques, audit/ electronic to ensure that develop audits to respond to risk of the organisation as a group.Strategy is a 3 year rolling plan and supported by an annual plan taking into account the risks and complexities of the group. Landbank is one of the highest risk in the SEO environment. Innovation, ad hoc, independence and objectivity.
Team: require a co-sourcing environment – internal that are able to respond to the org and a panel of external service providers to support – procurement and must know what to deploy when. E.g. Forensics – depending on the case – take to external service provider.
Need a seasoned person that understands the sensitivity.
Ensure the internal control environment is effective and fundamentally the auditor general can rely on the outcomes and lead to a clean audit.
Budget: Cost hours based on rates.
Committees: sit in all subcommittees of the Board and EXCO.
KEY PERFORMANCE AREAS
Develops and Implements the Audit Strategy as aligned to the Corporate Plan and Legislation
1. Develops, reviews and updates the Group internal audit charter and methodology in alignment to the corporate plan and presents to senior executive management, audit & finance and the board for approval.
2. Develop three year rolling plans and annual audit plans which are risk-based to set out the priorities of the internal audit function, consistent with the Land Bank, Land Bank Insurance Company strategy and corporate plan.
Manages approach to Group Audit Execution and Quality Assurance
1. Assures delivery of the annual internal audit plan including the management of internal resources and the selection and management of external providers in the audit and related panel
2. Develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit function, and continuously monitor its effectiveness in line with IIA.
3. Evaluates the developments, past deficiencies, outstanding issues etc. and determines emphases, focus areas as well as standardized audit activities
Audit Reporting
1. Sets up an information and reporting system for standard and exception reporting.
2. Provides reports on internal auditing engagements to the Land Bank Audit & Finance Committee and LBI Audit and Risk Committee
3. Provide an annual holistic opinion on the effectiveness and adequacy of risk management, control, and governance processes to the Land Bank Group audit committees.
4. Provide an annual holistic opinion on the effectiveness and adequacy of risk management, control, and governance processes to the Land Bank Group audit committees
Combined Risk Assurance
1. Co-ordinates, communicates and report on activities on the different Assurance providers and Risk management to provide the Boards - Audit and Finance Committee and Risk and Governance Committee with an assessment of activities relating to assurance work to mitigate risk and minimise duplications of costs and efforts.
2. Optimise auditing technology - Conducts data analytics utilizing auditing systems, for e.g. CAATs (Computer assisted audit techniques) to provide an integrated risk assessment management and monitoring of controls
Manages approach to independent forensic investigations, fraud risk assessments and fraud awareness programmes
1. Developing and monitoring a proactive fraud risk management plan and strategy across Group
2. Formulate Fraud Policy and publicise widely and Developing and monitoring a Land Bank and LBIC fraud awareness programme and culture.
3. Monitoring of the fraud hotline and performing appropriate investigations
4. Reporting of all fraud related incidents to the CEO / and Land Bank Group Audit Committees
Manage Stakeholder Relationships
1. Coordinates internal and external audit process (including Auditor General)
2. Manages co-sourced auditors to provide assurance on the Land Banks control environment.
3. Build relationships and trust with Executive Management and Board and Board Subcommittees
4. Consults with key stakeholders on a regular basis and guides them on how they can make improvements to their service delivery processes. Ensures that reports and information are relevant and required by users.
Divisional and People Management
Performance Management
1. Analyse the business plan to determine the applicable deliverables and targets
2. Compile the Performance Management documentation in collaboration with the staff member.
3. Lead the department by managing appointments, promotions, and industrial relations issues conjunction with the Human Capital Support Service Unit
Capacity Planning
1. Determine the human resource requirements, in accordance with the expected deliverables and current capacity including the management of outsourced audit service providers
2. Secure the human capital requirements to ensure that deliverables will be met in accordance with the expected targets
3. Set and achieve employment equity targets.
Financial Management
1. Develop and manage budget
2. Manage expenditure and ensure no fruitless expenditure
3. Adhere to financial guidelines and thus ensure proper control over expenditure
|
English 
FRENCH
