EntryFull TimeEN
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
We are looking to recruit a suitably experienced/qualified Internal Audit Manager (VP) to join our Functions – Compliance (Financial Crime) Internal Audit (IA) team which covers the Compliance Financial Crime control environment across the Absa Group.Job Description
The role of IA is paramount in ensuring that Absa’s residual risk is managed adequately therefore a good understanding of the Compliance Financial Crime Anti Money Laundering (AML) legislative requirements including an understanding of the different business areas, products, processes and controls. Previous audit experience in a risk-based environment will be advantageous. The candidate must have a growth mindset, keen on innovation, agile and automated auditing. Good communication skills (written and verbal), effective time management and build and maintain strong stakeholder relationships across First and Second Line of Defense teams embedded within the different Functions.
Further the candidate must plan, execute and manage audit review in accordance with the Group Audit Plan, IA Methodology, relevant policies, procedures and quality standards. As Audit Manager the candidate is expected to be a Financial Crime subject matter expert, performing quality audit work and in some instances leading audits (quality of the audit work performed, efficiency and effectiveness of the audit team, skilled in managing conflict, results driven and influence outcomes), compile risk committee reporting and actively participate in annual audit planning and ongoing business monitoring. In spirit of combined assurance, the audit manager must also promote and support an effective risk culture, where there is an open, proactive, and constructive dialogue relating to the control environment and management control approach.
Job Description
Key Responsibilities
Accountability: Audit Delivery and Issue Validations
Plan the delivery of assigned audits to a high quality and in line IA methodology, focusing on core:
Financial Crime Assurance audits on Anti Money Laundering AML/CTF (Anti-Money Laundering and Counter-Terrorism Financing), Anti Bribery and Corruption (ABC) and Sanctions Policy within Absa Group, including Africa Region (AR).
Understanding of applicable country legislation and processes.
Expert understanding of the following AML categories:
Customer Onboarding, Including customer due diligence requirements
Name Screening
Payment Screening
Regulatory Reporting (Suspicious Transaction Monitoring and Reporting, Cash Threshold Reporting)
RMCP Management
Performance of the respective audit phases i.e. planning, fieldwork and reporting and meeting key deliverables in terms of audit timelines and review of audit work to confirm that the minimum requirements as per methodology and scope of the review are met to mitigate audit risk.
Perform detailed risk assessments, identifying operational and compliance vulnerabilities (e.g., fraud risks, process inefficiencies) and conducting control testing by gathering evidence via interviews and documentation, and evaluating the robustness of internal controls.
Evaluate the effectiveness of governance, risk management, and control frameworks within commercial operations and conduct risk-based audit fieldwork, testing controls, interviewing key stakeholders, and reviewing trade files, covenants, collateral, and documentation.
Management of the following: Audit universe, auditable entities, audit delivery, people development and stakeholder management on each audit and during business monitoring.
Manage audits and Issue Validations within Key Performance timelines and resource budget.
Develop testing strategies for key controls during the audit/issue validations to adequately mitigate the risks – Planning deliverables, RACM, APD etc.
Execution of Design Effectiveness Testing (DEA) and Operational Effectiveness Testing (OET) of the audit team in line with methodology requirements. Review the DEA and OET working papers of controls tested and provide coaching notes to the team.
Engage with Centres of Excellences (COEs) during the fieldwork stage and give oversight to COE colleagues working on the audit assignment. Technical assistance may include the review of key risks and controls, review of working papers, audit issues and audit reports.
Ensure all audit observations and planned actions are factually agreed with management as soon as they arise agile auditing principles and display professional scepticism, raising and discussing contentious observations with management and provide evidence to support all issues identified. Review management action plans to confirm that the identified risks associated to the control failure will adequately mitigate the risks. Actions plans are to be specific, measurable, timely, achievable and realistic.
Deliver high quality audit reports, aligned to the IA methodology which include all significant issues identified in the audit.
Stay updated on industry regulations, bank policy and best practices; provide advice to frontline staff to ensure compliance and identify and recommend process efficiencies, controls automation, systems upgrades, or policy enhancements.
Accountability: Reporting
Assess, challenge and monitor and prepare high quality, relevant and insightful reporting for risk committees in Financial Crime and Group wide. Include audit delivery, issue validations, business monitoring insights and key MI relating to open/overdue/reopened audit issues etc, drivers for our CE and MCA assessments, emerging/watching brief risks. Ensure data integrity and factual accuracy of report prior to submission to EL/PH for review.
Review and check and challenge first and second line of defence reporting on the CE and MCA.
Strong collaboration with the Centre of Excellence counterparts to derive insights for impactful reporting.
Prepare comprehensive audit reports, summarizing findings, risk exposures, and remediation plans targeted at front‑line teams.
Present results directly to frontline managers/SME owners, guiding them on implementing corrective actions and best practices.
Accountability: Audit Planning
Contribute to annual planning, this will include identifying auditable entities, assessing the audit needs assessment and preparing all Management Information reports required, and propose relevant impactful audits linked to Strategy and Risk/control profile of Financial Crime.
Actively participate and provide high quality, relevant and impactful audits for Financial Crime in the annual audit planning process. Manage and facilitate the planning deliverables and interlocks with the wider IA teams, as required by the COO IA team for Financial Crime.
Report progress on Combined Assurance testing performed by IA, closely monitor Financial Crime Combined assurance strategy/progress, and actively participate in the combined assurance forum.
Accountability: Management & Leadership
Provide thought leadership and input into the strategy for the Financial Crime IA Team.
Compilation of various Quarterly Risk/Governance Committees Reporting packs.
Actively play a senior role in the Financial Crime key Management Committees and develop and maintain relationships with key stakeholders during audits and business monitoring activities. Present effectively at stakeholder meetings and forums to share knowledge and information including methodology, standards, changes and new developments with business stakeholders on an ongoing basis.
Engage proactively with the wider Internal Audit colleagues and request technical assistance where required from the Centres of Excellence during audits, business monitoring, reporting, planning etc.
Act as a mentor and coach for auditors and less experienced peers to provide on the job coaching to ensure that their work adheres to expected quality standards by providing guidance around the methodology including AuditBond (AB), audit process and the Financial Crime business and confirm through inspection of the audit work that the results of audit work and issue validations are completed, updated and approved as required by the IA methodology.
Support IA management team to identify, attract, develop and retain talent on an on-going basis and in measuring productivity and growth of staff by ensuring that Evaluation Forms are maintained for all audits and regular performance feedback to staff throughout the year, recognizing strengths and comprehensive development and training plans for key development areas identified.
Develop a high performing team by embedding formal performance development and informal coaching. Encourage frequent knowledge sharing between team members. Establish and maintain a succession plan for the team. Participate in the interview and recruitment of new members for the team.
Accountability: Knowledge Management
Improve technical knowledge and ongoing learning, specific training including mandatory continuous Professional Education requirements.
Share knowledge in area of responsibility with the team to ensure that audit activities are planned effectively and completed in line with quality standards and audit methodology.
Present effectively at stakeholder meetings and forums (e.g. Risk and Governance Forums etc.) by sharing knowledge and information, including methodology, standards, changes and new developments, with business stakeholders on an ongoing basis.
Working with colleagues in Business Units to provide requisite expertise in key areas where specific specialist knowledge is required to deliver appropriate, value-added assurance.
Minimum Requirements
B Degree (Commercial, Law)
Applicable AML/FT Certification
CAMS
Relevant banking industry qualification (e.g. SA Institute of Bankers)
Essential:
5 years’ experience in Internal/External audit or commensurate experience in a major financial institution or Big 4 audit firm
5 years’ experience in risk-based auditing or risk/control activities
5 years’ experience in AML/TF Regulation and operational activities
2 years’ experience of managing a team
Data analytics and Artificial Intelligence
Competencies:
Independent in practice and in thought.
Engaged with a visible level of presence.
Drive the right risk culture in the business.
Growth mindset, curious and open to teaching and learning
Confident to responsibly challenge, even if based on gut feel and not on data or facts.
Ability to manage conflicts.
Influential, Personal accountability.
Crisp and clear communicator, verbally and in writing.
See the big picture, however, can get into the detail where necessary.
Focused without adopting a silo mentality.
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (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
