PURPOSE:-
Identify, assess the risks within Land Bank’s IT/ Insurance/ Credit Risk/ Capital Management processes in accordance with best practice, relevant regulations and Basel guidelines. Identify, assess the risks within Land Bank’s business processes in accordance with best practice, company policy and relevant regulations.
Evaluate the adequacy and operational effectiveness of key management controls in line with the business objectives. Lead, co-ordinate and conduct audit assignments in line with Internal Audit methodology.
KEY PERFORMANCE AREAS
1. Audit Planning
- Gain a comprehensive understanding of the audit area and document adequately on TeamMate clearly highlighting identified risks and controls.
- Develop a clear audit scope with explained exclusions.
- Develop a risk and control matrix with clear audit tests.
- Allocate resources in line with the assessed risks and required technical competencies.
- Workshop the risk and control assessment with the audit team.
2. Audit Execution and Quality Assurance
- Co-ordinate audit activities budget and timelines specified in the Audit Planning Memorandum, i.e. resolve any client issues, re-allocation of work, etc.
- Coach audit team, where necessary.
- Timely identify and discuss audit issues identified during the audit, with management
- Timely review of working papers ensuring that audit tests have been performed adequately and conclusions are supported by documented evidence.
- Review audit file and ensure that work performed adequately addresses the audit objectives and agreed scope.
- Execute audit test procedures as agreed with the audit lead.
3. Reporting and Stakeholder Management
- Confirm accuracy of identified audit issues.
- Draft audit issues and report in line with Internal Audit methodology and best practice guidelines.
- Quarterly follow up of audit issues raised.
- Regular engagement with business unit managements to keep abreast of changes, initiatives and emerging risks within business areas that may impact audits.
- Ensures all audit and compliance reports are provided timeously, accurately and in line with requirements.
- Gives input into the management and control of the departmental operational plans and budget.
- Identifies and advises on the need to undertake special projects based on observations during auditing process.
- Analyses routine information for reporting purposes to the Portfolio Manager on the completion of an audit.