Head of Combined Assurance: Everyday Banking

Head of Combined Assurance: Everyday Banking

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
Responsible for leading a proactive and comprehensive combined assurance agenda across all lines of defense within Everyday Banking, ensuring coverage spans the entire business. This includes driving the transformation of the function into a future-fit capability. Additionally, the role entails accountability for the conformance testing agenda in Everyday Banking. The ideal candidate will have proven experience in the management and execution of assurance reviews, data analysis for management reporting and decision-making, designing and driving the implementation of assurance automation projects, as well as extensive executive committee reporting and governance experience, including chairing of key meetings and forums.

Job Description

In charge of a pro-active and comprehensive combined assurance agenda across all lines of defence spanning the entire Everyday Banking, including transforming the function to a future fit capability. Furthermore, accountable for conformance testing agenda in Everyday Banking.

Governance and Assurance: (40%)

• Lead the combined assurance agenda for the Everyday Banking Business Unit:
• Compile a comprehensive combined assurance plan for EB, by consulting with all assurance providers across the 3 lines of defence and:
  • Map the plan to Critical Process Assessments (CPAs) to ensure coverage of key controls in EB.
  • Consider material Risk and Control Self-Assessment (RCSA) controls identified across the value chain.
  • Consider the results of previous assurance.
  • Consider material change projects which require assurance.
  • Consider emerging risks.
• Continuously consider the appropriateness of the plan and drive changes to the plan by influencing other assurance providers' plans in real time where any changes to these elements occur.
• On a periodic basis, Chair and shape the agenda of the combined assurance forum for EB, where the current status of the plan is discussed in the context of these elements, and facilitate a discussion on any proposed changes to the plan. In addition, cover the results of assurance activity and the impact of this on the risk profile.
• Drive conformance to the assurance standard.
• Strategically lead the transformation of the combined assurance function across all assurance providers and lines of defence in EB. Through a consultation process and subsequent, measured, and deliberate effort:
  • Shape assurance activity to ensure more coverage, with less intrusive audit procedures, e.g., testing of algorithms, continuous monitoring, indicators etc.
  • Shape assurance activity to ensure appropriate sequence of testing across the lines of defence, led by 1st line.
  • Shape assurance activity to avoid duplication and avoid saturation of audit activities in areas in the business unit at any point in time.
  • Shape the assurance plan to one which assigns the activities to the most appropriate assurance provider, internal or external.
  • Become pro-active in driving the combined assurance agenda as opposed to simply consolidating the assurance plans from various assurance providers.
  • Design a combined assurance ecosystem where quick decisions are made to change direction if the underlying factors require changes to the plan.
  • Work with Group teams and drive automation of combined assurance management.
  • Continuously stay abreast of industry developments and learning on the topic of combined assurance and shape the EB agenda and capability as appropriate.
  • Assess EB capability and design a plan to respond where opportunities to improve are identified.

Conformance agenda: (40%)

• Drive conformance to the assurance standard and lead the full conformance testing agenda for EB.
  • Define a conformance review plan that covers all BUs across EB. Ensure that the plan supports the EB combined assurance agenda.
  • Continuously consider the appropriateness and relevance of the conformance review plan and adjust the plan to accommodate any changes in the risk landscape through the combined assurance process.
  • Identify opportunities to streamline and integrate the conformance plan to reduce intrusion on 1st line teams.
  • Drive the execution of the conformance review plan in order to ensure conformance to frameworks, policies, and standards.
  • Evaluate the quality of data maintained on risk management tools and systems and provide recommendations for remediation where weaknesses are identified.
  • Perform comprehensive independent conformance testing to ensure that results of 1st line MA testing can be relied upon (quality and consistency), in line with requirements of Risk and Assurance Standards. Drive improvement, where required.
  • Raise Dispensations, Waivers, or Breaches (DWBs) or issues where non-conformances have been identified, especially where these are material.
  • Engage business stakeholders and maintain effective follow-up and tracking of the remediation of weaknesses and gaps identified through conformance testing.
  • Report all material concerns as appropriate and through risk and control governance committees.
  • Drive the implementation of less intrusive assurance techniques to improve assurance efforts (automation, data analysis, checklists, etc.).

People Management: (20%) (As applicable)

• Manages, motivates, and develops a high performing assurance team by embedding formal performance development and providing appropriate interventions and opportunities.
• Equip team to deliver on a high performance culture.
• Provide strategic direction to the team in line with strategic vision of the business area and policies and procedures.
• Perform other managerial people management functions, including but not limited to:
  • Recruitment
  • Disciplinary and grievance process when required
  • Succession planning.
  • Etc.

Stakeholder Management

• Proactively manage requirements and priorities of all stakeholders to deliver on the combined assurance priorities.

Risk and Control

• Apply the highest standards of controls and risk management practices and behaviours and embed a positive risk and control culture across Everyday Banking.

Education and experience required

• 5-7 years financial service experience
• 2-3 years combined assurance experience as a senior manager
• 4-5 years risk management experience as a manager
• Bachelors degree in Risk Management, CA or Auditing (NQF level 6.)

Competencies:

• Planning and organising
• Analysis and conclusion
• Problem solving - Deciding and initiating action
• Results oriented
• Business acumen
• Innovative
• Collaborative
• Self-motivated
• Resilience and emotional intelligence
• Relating and networking

Knowledge and skills:

• Strategic Controls Assurance Skills
• Strong Team Leadership and Organizational Skills
• Visionary, Innovative / Creative
• Ability to motivate performance under pressure and ensure deadlines are met
• Strong verbal and written communication and presentation skills with senior stakeholders
• Strong background of audit management
• Collaboration and influencing
• Driven and Self-Initiated

Education

• Bachelor's Degree: CFA, Bachelor Honours Degree: Accounting, Bachelor Honours Degree: Auditing (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.