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
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
Stanbic IBTC Bank is recruiting to fill the position below:
Job Title: Head, Internal Audit
Job ID: 18364
- 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.
- 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
- 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
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;
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
- Liaise with Audit managers to assess inherent risk and to obtain feedback on work carried out.
- 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
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.
- Detailed knowledge of banking systems and procedures, and modern internal auditing practices.
- Decide on which business areas to include in the annual plan, based on the global risk assessments and Audit Universe.
- Decide on the composition of audit teams, gravity of cases to be investigated and time to be allocated thereto.
- 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.