Job Description

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 The Absa Financial Services (AFS) Insurance Group Internal Audit (IA) team is seeking a meticulous and collaborative professional with an interest in Short-term Insurance (Non-Life). This role offers the opportunity to gain comprehensive insight into the bank's bancassurance strategy and operations. We are currently looking for an experienced Internal Audit Manager/Vice President to lead reviews in our Short-Term Insurance audit team.
Our Short-Term Insurance business offers short-term insurance products to Absa customers. The AFS Insurance Group is characterised by its dynamic and fast-paced environment, presenting extensive learning opportunities. The successful candidate will also need to possess a thorough understanding of banking to effectively support the Bank's bancassurance strategy, which involves cross-selling between retail and insurance products.
The Internal Audit Manager: Non-Life Insurance SA will plan, execute and manage audit assignments in accordance with the Group Audit plan and relevant policies, procedures and quality standards. The Audit Manager is responsible for the quality of the audit work performed and the efficiency and effectiveness of the audit team. Excellent communication skills, both written and verbal, are essential. Additionally, the ability to manage multiple senior stakeholders while delivering on commitments is required. This position is ideal for individuals seeking to enhance their bancassurance experience within a dynamic, risk-based environment.

Leadership and People Management:

• Leadership/Values/Culture: Demonstration of Absa and IIA code of conduct values/behaviours in all aspects of work. Playing a positive role in team effectiveness sessions and in the unpacking of Colleague Experience Survey results.
• Promote a positive team culture and enhance employee engagement
• Lead a team of professional and subject matter experts.
• Embed the performance culture and role model Group values and behaviours.
• Manage and lead teams through change, both individually and as a function.
• Actively contribute to the wider talent development of the function through coaching, mentoring, providing constructive feedback.
• Promote continuous learning and development among internal auditors to enhance their skills and knowledge.
• Attract and retain talented individuals who can contribute to the Audit Function of the future, building a strong pipeline of skills and capabilities.

Stakeholder Management:

• Build and maintain strong relationships with key stakeholders, including senior management, governance committees, control functions and audit contacts through regular engagement and transparent communication.
• Possess excellent communication skills (verbal and written) to effectively communicate to stakeholders.
• Build relationships with the business on key initiatives, attending key committees and sharing their view of the business' control assessments.
• Know our clients/customers and understand how the team's work benefits them.
• Develop an in-depth knowledge of Absa and the various business areas and use this knowledge to execute on assurance responsibilities.
• Foster positive engagement with stakeholders to enhance the value of the audit function.
• Develop and maintain relationships with all assurance partners and actively monitor the risk profile of the business to inform audit planning, reporting and audit delivery. Support the Combined Assurance effort across the three lines of defence to strengthen the control environment.

Strategic Initiatives:

• Digitally and Technology enable: Contribute to the development of the Digital Book of Work of the IA Function.
• Stakeholder engagement model: aligned to IA overall principles for driving a professional, value adding, service oriented, digitally savvy owner led stakeholder engagement approach for the portfolio.
• Contribute to the overall Absa IA Brand, Positioning and Communication Initiatives.

Audit Delivery, Issue Assurance and Continuous Monitoring Activities:

• Ensure the delivery of high-quality and timely audit reports, governance reports and issue validations that add value to the group that adheres to the audit methodology and quality standards.
• Apply in-depth knowledge of audit methodology, gained through training and experience, to deliver high-quality audits aligned with the Quality Assurance scorecard minimal supervision from the Chief Internal Auditor and/or the Head of Audit.
• Define, support and maintain a risk based internal audit plan for the Non-Life Insurance SA businesses that supports the achievement of Absa's objectives that is completed in a timely manner in line with approved phasing.
• Use of digital assets and /or data analytics in audits, continuous auditing and portfolio reviews.
• Provide high-quality, relevant, D and valuable reports that are easy to understand and actionable to key stakeholders including senior management, governance committees and regulators.
• Display professional skepticism and apply a residual risk lens to potential audit issues with management and in final reporting.

Knowledge Management

• Continuous upskilling on both technical and other core competencies.
• Keeping up to date with industry trends, regulatory changes and professional standards.
• Based on knowledge of business areas, provide guidance to other audit teams and peers by sharing best practice so that their work meets and sometimes exceeds quality standards
• Maintain and enhance technical skills through self-learning, coaching, and mandatory continuing professional education (CPE).
• Ensure that the internal audit function complies with all relevant regulatory requirements, including those set by the Prudential Authority.

Preferred Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
• Relevant professional qualifications as appropriate (e.g. CA, CIA, CISA)

Preferred Experience

• Seven to ten years' experience in Internal/External audit or commensurate experience in a major financial institution or Big 4
• Financial services industry knowledge especially Banking, Insurance, Bancassurance, etc.
• Knowledge about new and emerging financial products and services.
• Knowledge of prevailing legislation requirements, the insurance industry and bancassurance practices will be an added advantage.

Knowledge and Skills

• Proven experience of managing teams in a complex, matrix environment; adaptable leadership style
• Extensive experience in risk-based auditing or risk/control activities
• Thought leadership
• Evidence of driving change, leading business initiatives and setting direction and strategy
• Ability to communicate and influence at very senior levels in the organisation
• Passionate about developing talent and performance management
• Ability to think and operate in an enterprise-wide capacity, contributing to the main effort of the Function over the demands of individual silos.
• Strong understanding of regulatory, control, and risk issues across local and group jurisdictions or financial institutions.
• Solid industry knowledge, including awareness of competitors and market trends.

Technical Competencies

• Insurance and Investments Industry knowledge
• Regulatory Compliance
• Commercial Acumen
• Financial Analysis
• Risk Management
• Audit Methodology
• Internal Controls

Behavioural Competencies

• Leadership
• Stakeholder Engagement
• Influence
• Resilience
• Effective negotiation
• Strong verbal and written communication
• Attention to detail

Cognitive Competencies

• Analytical Thinking
• Problem Solving
• Strategic thinking
• Decision Making
• Risk Perception

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