Risk Assurance Specialist
2 weeks ago
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
Job Description Summary
**Job Description**:
Accountability:
- Execute Assurance Assignments
- Drive data analytics testing strategies and real time assurance initiatives through engagements
- Contribute to reporting processes using data analytics capabilities
- Assist the Assurance Manager with planning of assurance assignments.
- Assurance assignments will include Contracted, Adhoc reviews, Deep dives and Conformance reviews.
- Assist Assurance Managers in communicating the risk assurance review scope, approach, objectives, timelines and resources as per the detailed Assurance Plan, by drafting a Notice of Commencement and Engagement Memorandum for approval and distribution by the Assurance Manager to business.
- Conduct an opening meeting (should be formally minuted) with the relevant Business Unit Management to introduce the RA team members and to discuss the purpose and objective of the assignment, the risk assurance resources to conduct the review and the assignment approach, and also to obtain an understanding of the process owners in the business unit.
- Perform risk assurance reviews by compiling a universe for the related business unit review, perform process descriptions and confirm processes, identify areas of risk, identify controls, evaluate the adequacy of controls, perform effectiveness testing on adequate controls as detailed in the risk assurance assignment methodology. (Risk Assurance methodology outlines the detailed procedures to be followed).
- Compile and complete accurate working papers and obtain approval from Assurance Manager. - Provide accurate feedback to Business Unit Management regarding control failures identified on a continuous basis, by means of verbal communication.
- Communicate all control weaknesses continuously to Business Unit Management in writing after a quality review has been performed by the Assurance Manager on the work papers.
- Perform reviews within timelines and allocated budgets.
- Assist the Assurance Manager in respect of ensuring quality of work performed during reviews, by performing quality reviews on working papers of peers.
- Obtain agreement and buy in from business regarding control weaknesses and remedial actions identified during the risk assurance assignment, by holding a formal Close Out meeting where consensus is reached with stakeholders and the process regarding disagreement with RA findings, ratings or content of the report is enforced.
- Report weaknesses identified during Risk Assurance reviews to the relevant Business Unit Management by compiling a draft risk assurance report which will include an executive summary and conclusion of high quality, and obtain remedial action and appropriate milestone and due dates to ensure identified risks are timeously and effectively mitigated.
- Provide Business with an objective, clear, concise and value added assurance service by compiling a high quality assurance Draft report and Final Report.
- Finalise the Final report and provide to the Assurance Manager for final approval and distribution to business.
- Maintain and monitor a high standard of quality of work performed by all consultants during the assignment by adhering to the minimum requirements detailed as per the RA assignment methodology
- Own and maintain assurance relationship with allocated portfolio stakeholders
- Conduct cradle to grave issue closure assurance as per the methodology
- Contribute to combined assurance initiatives and programme deliverables.
Education
Bachelor's Degrees and Advanced Diplomas: Business, Commerce and Management Studies (required)
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_
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