Internal Audit Manager

6 months ago

Johannesburg, South Africa Absa Bank Limited Full time

Empowering Africa’s tomorrow, together one story at a time.
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job Summary

To plan, execute and manage audit assignments in accordance with the country and Group Audit plan and relevant policies, procedures and quality standards. The Audit Manager is responsible for the quality of the audit work performed and the efficiency and effectiveness of the audit team.

**Job Description**:

- The Internal Audit Manager for Model Risk role is responsible for assurance of Model Risk for Absa Group and well as the Absa Group Model Risk Function. The position is a key VP role given the complexity of the coverage in respect of the internal rating systems and the bank’s model risk management practices.
- Take ownership and initiative, to negotiate, influence and build consensus and successfully navigate audit delivery within timelines and quality criteria. Leading internal audit project teams, working closely with peer VPs, define audit scopes and oversee audit testing, including drafting internal audit findings and prepare draft reports for discussion with senior management. This includes a strong acumen regarding auditing methods and industry practices for Model Risk.
- The position is a technical Model Risk specialist as well as SME role in Internal Audit and is required require to provide assurance on:

- Business Unit Model Risk Functions: The development, implementation and monitoring of models within the Business Units. This includes all model types (scorecards, capital, impairment etc.) as well as all risk types (Credit, Market, Operational, Enterprise).
- Absa Group Model Risk Function: Evaluation of the central model risk teams (Independent Validation Unit, Model Governance and Model Implementation).
- Regulatory Framework: The provisions of the regulatory framework and in particular the models and methodologies used by the Bank in measuring its regulatory capital and assessing the adequacy of its capital resources in relation to the bank’s credit risk exposures and established minimum ratios.
- Support in the identification of risks to be tested by participating in planning sessions. Develop testing strategies for key controls within the business to adequately mitigate the risks. Manage the execution of Design Effectiveness Testing (DEA) and Operational Effectiveness Testing (OET) of the audit team in line with methodology requirements.
- Develop an in-depth knowledge of Absa and the various business areas and use the knowledge to assess risks and controls through identifying, assessing and documenting risks and controls within these processes. Engage proactively with Internal Audit colleagues during assignments and request technical assistance where required and based on knowledge of business areas, provide guidance to other auditors and peers by sharing best practice so that their work meets and sometimes exceeds quality standards.
- Develop and maintain relationships with key audit contacts on each audit by attending continuous stakeholder meetings. In addition, engage closely with stakeholders during assignments and encourage open discussion and interaction with business on the risks associated in their environment.
- Line management responsibilities with an adept experience in performance and talent management. Develop a high performing team by embedding formal performance development and coaching. Encourage frequent knowledge sharing between team members.

Audit Planning
- Participate in the 6+6 audit planning cycle; provide input by taking into account the risk and control profile, business strategy and material risks affecting the business.

Assurance
- Plan the delivery of assigned audits to a high quality and in line with Key Performance Indicators as per the methodology. This will include adequate resourcing scheduling, meeting key deliverables in terms of audit timelines and review of audit work to confirm that the minimum requirements as per methodology are met.
- Manage the execution of Design Effectiveness Testing (DEA) and Operational Effectiveness Testing (OET) of the audit team in line with methodology requirements and as per the requirements of the QA scorecard.
- Ensure audits and issues assurance within Key Performance timelines and resource budget

Leadership and Management
- Mentor and coach less experienced team members by providing guidance around the methodology and audit process, and manage the teams that assigned to the audit effectively by delegating audit work to empower each individual team member
- Develop a high performing team by embedding formal performance development and informal coaching. Encourage frequent knowledge sharing between team members

Teamwork
- Support IA management team to ident

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