Head of Audit: Compliance and Operational Risk at Absa Bank Limited

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

The role supports the Audit Executive in defining the risk profile for Compliance Risk (including Financial Crime, Regulatory and Conduct risks) as well as Reputation, People and Process Management risks. The role is accountable for developing, managing, and delivering a risk based audit plan aligned to the risk profile.

The incumbent will be required to provide internal audit oversight across the bank’s Compliance, Operational Risk, Human Capital, Group Marketing, and Corporate Affairs Functions. Significant experience in financial services is required, with deep expertise in Compliance and Operational Risk.

Job Description

Accountabilities:

The incumbent will:

• Support the Audit Executive in defining the risk profile for Compliance Risk (including Financial Crime, Regulatory and Conduct risks) as well as Reputation, People and Process Management risks.

• Guide, review and approve the work carried out on audit assignments in order to ensure that the scope of the work is appropriate, that risks and controls are correctly identified and assessed and that the assignments are carried out in accordance with the audit methodology.

• Assign audit and line management responsibilities, direction and guidance to direct reports while maintaining an in-depth knowledge of activities in each area

• Deliver a view on the effectiveness and adequacy of risk management and controls to the Chief Internal Auditor and executive management, notably through contributions to committee reporting and audit reports, and proposing mitigating actions.

• Play a proactive part in supporting the definition of risk profiles, working effectively with colleagues across Internal Audit and Business stakeholders.

• Ensure that the Audit Plan is effective, including the best use of resources.

• Support the Audit Executive in requisite engagements with regulators.

Key to the role are the below additional capabilities required for success:

• Contributing commentary and information for Absa Internal Audit reporting.

• Ensure that Absa Group Internal Audit has set the overall coverage strategy, audit testing approach and have the right subject matter expertise to perform independent and impartial assurance activities over a variety of risk disciplines i.e. Compliance risk (including financial crime, regulatory and conduct risks) ,as well as Reputation, People and Process Management risks.

• Have the requisite subject matter expertise across the respective risk disciplines, along with an understanding of the banking regulations, governance structures, frameworks and policies for the above-mentioned risks in order to review and challenge Absa Group’s risk management and risk measurement practices.

• Evaluation of risk appetite, escalation and reporting of issues and decisions taken by the Group Compliance, Group Operational Risk, Human Capital and Group Marketing and Corporate Affairs Functions.

• Evaluation of the adequacy of risk management systems and processes for identifying, measuring, assessing, controlling, mitigating, responding to, and reporting on all the risks resulting from the bank’s activities.

• The integrity of the risk management information systems, including the accuracy, reliability and completeness of the data used.

• The provisions of the regulatory framework and in particular the bank’s system for identifying and measuring its regulatory capital and assessing the adequacy of its capital resources.

• The effectiveness of the process by which the risk and reporting functions interact to produce timely, accurate, reliable and relevant reports for both internal management and the regulatory supervisor.

Experience

• Experience in Audit: At least 12 years of experience in audit and consulting, including internal audit and risk management roles.

• Industry Experience: Significant experience in the financial services industry, particularly in roles focused on the management of non-financial risks i.e. compliance risk (including financial crime, regulatory and conduct risks) as well as people, process management and reputation risks.

• Strong expertise in respect of key regulations impacting the banking industry including the Banks Act, Financial Intelligence Centre (FIC) Act, Prudential Authority and FSCA Standards, and other relevant regulations.

• Extensive experience in operational risk management, accompanied by a thorough knowledge of the Basel Framework.

• Leadership Experience: Proven track record of leading audit teams and managing complex audit projects.

• Fraud risk management experience preferred

Qualifications (minimum qualifications)

• Honours degree in finance, accounting or Risk Management.

• Certified Internal Auditor (CIA) or CA (SA) designation preferred

Education

Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required), Postgraduate Degrees and Professional Qualifications: Statistics (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised