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Head of Internal Audit
- Head of Internal Audit, International Bank, Durban based
- Head of Internal Audit Business & Commercial Banking, Durban based
About Our Client
Our client is an international Swiss Bank that operates in 9 countries on 4 continents. The total employee count globally is standing currently at approximately 5,500 employees with 143 being situated in their offices in South Africa. Head offices are based in Durban however 60% of all business is done in Johannesburg.
Our client has been rated 1st in terms of returns on assets and 4th in terms of soundness (capital-asset-ratio) of all Swiss Banks. They focus primarily on Trade Finance for commercial and business clients with smaller elements focusing on Private Banking, Treasury Solutions and Islamic Banking.
Our client's aim, as well as the candidate's responsibility, is to drive the organisation to a modernised approach to internal audit which will help the Bank to drive its strategy to growth (opening 4 additional branches) forward.
This individual's role includes:
- Evaluating, reviewing and improving the effectiveness of the Bank's risk management, control, capital management and governance processes and/or systems.
- Reviewing the overall internal controls to ascertain that the internal control system & risk management (including financial reporting and operational controls, accounting system and reporting structures) are adequate/effective;
- Development and execution of a long term and annually approved audit plan after annual enterprise-wide risk assessment, formally approved at the beginning of the every year by the Local Audit Committee and Head of GIA.
- Monitoring compliance with the best practices of Corporate Governance and alignment with Group standards;
- Review and determination of the effectiveness of the compliance process with local statutory requirements; Parent Company & internal guidelines, policies and procedures;
- Ensuring that strong and sustainable remedial actions are instituted by the management on issues identified in internal audit reports & a formalised tracking system is in place;
- Reviewing regulatory inspections, external and GIA reports and findings and ensuring required sustainable remediation has taken place by the management on such matters;
- Consideration of any other issue or matter as may be assigned by the Head of GIA, Local Audit Committee and/or SA Reserve Bank (SARB).
- Attend Audit Committee meetings and present all High and Medium Risk issues for appropriate action by the management, report on effectiveness of the control environment and progress made in respect of the plan.
- Attend and present at the annual trilateral meeting with the SARB and attend all management committee meetings.
- Training, continued professional development and performance management of the staff in the internal audit department and keeping abreast with legal & regulatory environment.
- Complying with the framework as defined by the Institute of Internal Auditors and adherence to Regulation 48 of the Regulations relating to Banks on Internal Audit.
The Successful Applicant
10-12 years' experience (preferably) in a similar position as Head of Internal Audit for Business/Commercial Banking. Or nr 2/3 of the Internal Audit department of a tier 1,2 or 3 Banks in South Africa.
2-5 years' managerial experience
Relevant tertiary qualification
What's on Offer
Market related salary + Performance bonus