Internal Audit Head Vacancy at Stanbic IBTC Bank

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Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.

Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.

Stanbic IBTC Bank is recruiting to fill the position below:


Job Title: Head, Internal Audit
Job ID: 18364
Location: Lagos
Job Purpose

• To be directly accountable to the Board of Directors and the Board Audit Committee of Nigeria.
• 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/Accountabilities
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;
• 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;
• 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.
• 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;
• 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).

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;
• 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.
• Interaction with the various governance groups occurs as needed;
• 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;

Relationships
Internal Relationships:
Internal to Bank (who, why, about what):

• Continuous functional communication with the Board of Directors, Board Audit Committees, and the Group Internal Audit, Johannesburg S.A., as well as The Chief Executive Officer  administratively.
• 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.
• 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.

External Relationships:

• 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.

Preferred Qualification and Experience

• Possession of first Degree or a professional qualification such as CIS, CIMA, ACCA, CA ACA, ACIB, MNIM etc.
• At least 15 years banking experience of which at least 5 years must have been at Senior Management level and part of which must have been in the Internal Audit department.

Knowledge/Technical Skills/Expertise
Knowledge:

• Detailed knowledge of banking systems and procedures, and modern internal auditing practices.

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.

How to Apply
Interested and qualified candidates should:
Click here to apply 

Application Deadline  30th September, 2016.

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