Internal Audit Manager

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 An opportunity has become available for an experienced Internal Audit Manager to join our Insurance South Africa (Short Term) Absa Internal Audit (IA) team, which is part of the Absa Financial Services (AFS) Group. The Insurance SA business provides short term and life insurance products to our Absa customers. In addition, the wider AFS Group also provides stockbroking, trusts, wills, estates and financial management services, of which the incumbent must be familiar with. The incumbent is required to also have a solid understanding of Banking, in order to support the Bank’s bancassurance strategy (cross-sell between secured lending products (Home loans and Vehicle and Asset Finance) and insurance products). The Internal Audit Manager: Non-Life Insurance SA will plan, execute and manage audit assignments in accordance with the 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**: Key Accountabilities: Strategic Initiatives: - Digitally and Technology enabled: Contribute to the Digital Book of Work of the IA Function. Use of Tools and Technology in the portfolio. - New Ways of Work Operating Model: Build skills that are future fit, self-sufficient audit teams, load balancing for thinking versus execution time, flatter/less hierarchy in structures. - Stakeholder engagement model: aligned to IA overall principles for driving a profession, value adding, service oriented, digitally savvy owner led stakeholder engagement approach for the portfolio. - Contribute to the overall Absa IA Brand, Positioning and Communication Initiatives. Audit Delivery: - Budget/Finance Management - cost for the Audit portfolio to be optimised and tracked against budget. Timesheet completion for self and team to be done on time each week applicable period. - Customer interaction and business monitoring: Manage relationships with senior stakeholders across each portfolio, and participation at key Risk/governance committees to inform view of overall Business Unit (BU)/Function Risk profile. Review the Business Monitoring workpaper. Compilation of various reporting packs - which BU/Function IA attends. - Annual Audit Planning: Assist in formulation of the Portfolio Annual Audit Plan and contribution to the BU/Function Portfolio's audit plan. Audit Lead (AL) is responsible for the "bottom-up" approach to audit planning whereby he/she performs auditable entity key risk assessments on an ongoing basis and assesses the results to determine what needs to be included in the audit plan. In addition, the AL will also consider emerging risks identified as part of business monitoring. AL will be responsible for key Annual planning deliverables i.e., supply and demand calculations, resource scheduling, auditable entity assessments and assisting in putting together the Portfolio Head (PH) presentation. - Audit Delivery aligned to the agreed phasing principles. Accountability for overall "project management" of the audit - planning/scoping, fieldwork and reporting - high quality and on time delivery, escalate any blockers on the audit to PH/Engagement Lead (EL) and the client. Ensure adherence to Quality assurance requirements and manage audit risk throughout the audit. Manage ongoing communication with audit stakeholders including control owners etc. - Audit Delivery: Perform the Management Control Approach (MCA) assessment i.e., annual audit and quarterly Continuous Monitoring, documentation of the work papers through to reporting including audit issues clearance. - Audit Execution: Review and approval of planning documents, workpapers, issues and audit file. Drafting audit reports and the ensure an appropriate level of quality prior to EL review. Clearance of audit report and issues with action owners. Completion of Sign Off checklist (SOL), Reporting Documents and Attestations tabs. Perform a quality review of the file as per the Quality Assurance (QA) checklist prior to closing audit file. - Contribute content to planning process, as directed by EL. - Proactive management and reporting of open, long-overdue, re-opened issues and other audit results to internal and external stakeholder in order to play a role in ensuring a healthy control environment. Quarterly analysis of assurance delivered, with results classified into themes, root causes and insights. - Audit File Review Results for the portfolio should be within the File Review Risk Appetite. No material exceptions raised in QA reviews or audit reports to be re-iss