Country Head of Audit at Stanbic IBTC Bank, June 12th 2013

Job Title:  Country Head of AuditJob ID 11528
Location Nigeria
Division Group Governance & Assurance
Position Category Assurance
Employment Type Full Time – Permanent
Shift No
Regulatory Approval Yes

Position Description
• To be directly accountable to the Board of Directors and the Board Audit Committee.
• To assist with the Board Audit Committee’s understanding of the risks to which the Bank is exposed and to facilitate an appreciation of the Bank’s risk management, control and governance processes, the Head, Internal Audit, or his authorised delegate, is required to attend Audit Committee meetings and to satisfy the committee on the adequacy and effectiveness of the internal audit function.

Key Responsibilities
• Providing an annual assessment on the adequacy and effectiveness of the Bank’s processes for controlling its activities, managing its risks and ensuring good governance;
• Evaluating and contributing to the improvement of the adequacy and effectiveness of risk management, control and governance processes by applying a systematic and disciplined audit approach. This is reinforced through a continuous quality and improvement programme;
• Reporting significant issues related to the risk management, control and governance processes of entities within the Bank. This includes the provision of potential improvements to those processes and information concerning the resolution of such issues;
• Periodically providing information on the status and results of the annual audit plan and the sufficiency of Internal Audit resources;
• Co-ordinating with and providing oversight of other control and monitoring functions within the Bank (including, but not limited to risk management, compliance, security, legal, ethics, the environment and external audit).
The Head, Internal Audit, assisted by internal audit staff, also has the responsibility for:
• Developing a flexible annual audit plan in accordance with Group Internal Audit standards and methodology and by applying an appropriate risk-based methodology. The plan should consider any risks, control or governance concerns identified by the Board Audit Committee and management. The Board and Group Audit Committee will review and approve the plan and any periodic updates;
• Implementing the annual audit plan, as approved by the Board Audit Committee, including any appropriate tasks or projects requested by management and the Audit Committee;
• Maintaining a professional audit staff with sufficient knowledge, skills, experience and professional certifications to meet the requirements of this mandate;
• Investigating significant suspected fraudulent activities within the Bank and to notify management and the Audit Committee of the results;
• Considering the scope of work of the external auditors and regulators, as appropriate, for the purpose of providing optimal audit coverage to the Bank and minimising duplication of effort.
• Evaluating and assessing significant merging/consolidating functions within the bank together with new or changing services, operations and control processes coincident with their development, implementation and/or expansion;
• Issuing regular reports to the Audit Committee and management summarising results of audit activities;
• Keeping the Audit Committee informed on emerging trends and successful practices in internal auditing;


Key Performance Measures
The key performance measures of the work undertaken by Internal Audit is to determine whether the Bank’s risk management, control, and governance processes, as designed and represented by management, are adequate and functioning in a manner to ensure:
• Risks are appropriately identified and managed;
• Interaction with the various governance groups occurs as needed;
• Programmes, plans and objectives are achieved;
• Quality and continuous improvement measures are fostered in the risk management, control and governance processes;
• Significant legislative or regulatory issues impacting the Bank are recognised and addressed appropriately.
• Significant financial, managerial and operating information is accurate, reliable and timely;
• Employees’ actions are in compliance with policies, standards and procedures;
• Resources are acquired economically, used efficiently and adequately protected;


Key Dimensions of the Job
• Nineteen (19) Internal Auditors report into this role.
Important Relationships
Internal to Bank (who, why, about what)
- Continuous communication with the Board of Directors, Board Audit Committee, and the Group Internal Audit, Johannesburg S.A., as well as The Chief Executive Officer on administrative assignments.
- Consult the Regional Audit Manager/Group Internal Audit, Johannesburg S.A. to get ad hoc assignments and to obtain feedback on work done.
- Liaise with Audit managers to assess inherent risk and to obtain feedback on work carried out.
- Maintain close communication with Audit Managers to provide guidance and enhance team spirit.
- Communication with the Board Audit Committee/Regional Audit Manager/Group Internal Audit on progress with regard execution and reporting on the annual audit plan.
b) External to Bank (who, why, about what)
- maintain close relationship with External Auditors during statutory audits.
- Liaise with Central Bank Examiners in the course of audits carried out by the Regulators.
- Liaise with other banks, particularly their Internal Audit and Investigation teams to share notes
and enable a speedy resolution of investigation work.

Required Skills and Qualifications
Problem Solving, Planning and Decision Making
Problem Solving
• Decide on which business areas to include in the annual plan, based on the global risk assessments and Audit Universe.
Planning
• Decide on the composition of audit teams, gravity of cases to be investigated and time to be allocated thereto.
Decision making
• Interpret audit findings and decide on suitability of recommendations made and overall rating awarded.

Required Competencies
Knowledge, Experience and Personal Competencies
Knowledge
• Detailed knowledge of banking systems and procedures, and modern internal auditing practices.
Experience
• At least 15 years banking experience, part of which must have been in the Internal Audit department.
Personal Competencies
• Possession of first degree or a professional qualification such as CIS, CIMA, ACCA, CA ACA, ACIB, MNIM etc.
• Ability to communicate at all levels, both orally and in writing.
• Analytical, conceptual and negotiating skills.
• Proven leadership skills.

How to Apply
Click Here to Apply

Post Closing Date Jun 25, 2013