Internal Audit Head Vacancy at Stanbic IBTC Bank

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
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
  • 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).
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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 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.
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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

  • 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.


  • 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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