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Job FamilyRisk, Audit and Compliance
Auditing
Manage Self Professional
PURPOSE OF GROUP INTERNAL AUDIT (GIA)The purpose of GIA is to provide independent, objective assurance to the Nedbank Group Limited Board of Directors via the Group Audit Committee that the governance processes, management of risk and systems of internal control are adequate and effective to mitigate the risks (in line with GIA Internal Audit Methodology), both current and emerging, that threaten the achievement of the Group's strategy and key objectives, and in so doing help improve the internal control and risk culture of the Group.
GIA receives its authority from the Group Audit Committee (GAC), which is a committee of the Board of Nedbank Group Limited established to, among other things, review the work of Internal Audit of Nedbank Group Limited and its subsidiaries (the "Group").
ACCOUNTABILITY OF THE GROUP INTERNAL AUDIT MANAGER: MODEL RISKPurpose: To deliver on the annual audit plan thereby providing reasonable assurance to stakeholders that key risks are being mitigated through adequate and effective management controls in accordance with Group Internal Audit (GIA) methodology.Each model audit assesses: model design, model documentation, quality of model inputs and data, model implementation (usage) and model governance. It assesses the following models:Credit risk modelsMarket risk models IFRS9 ModelsPricing modelsLiquidity risk modelsPillar II Risk ModelsStress testing modelsRegulatory and Economic capital modelsFinancial Crime Risk ModelsThe successful candidate will also, as part of the audits, be required to interact with the relevant divisional teams in order to inform the scope of the assignment to be embarked on.The Audit Portfolio Manager, in the discharge of his/her duties, shall be accountable for: Reviewing key aspects of each model under review: model design, model documentation, quality of model inputs, model implementation and model governancePerforming audit fieldwork in terms of the audit program.Documenting the audit testing performed.Stakeholder engagements on audit issues identified.Drafting of audit report: including executive summary and detailed audit findings.Evaluating and monitoring of corrective actions taken to address control weaknesses identified.Attendance of key risk committee and technical risk committee meetings where relevantInteraction with the regulating authorities on model related matters.Maintaining awareness of risk issues and changes across business units within Nedbank Group, as well as the Financial IndustrySeeking out internal and external best practice information to improve the quality of audits and provide customers with world-class perspectives and solutions.Reporting significant issues related to the processes for controlling the activities of the Group whilst considering key/or emerging risks in annual audit plan.Ensuring continuous improvement of the quality of audits through providing professional insights;Providing insights from the outcomes of internal audit work to appropriate governing bodies, including the GAC and Board Risk Committee.Maintaining an open and constructive relationship as a Trusted Advisor with senior internal and external stakeholders including Institute of Internal Audit, SARB, External Audit and Business Executives.Building rapport and understand client current business reality, requirements, risks, and expectations and consider key and/or emerging risks in annual audit plan.Ensuring that billable hours, budgets, and resources are optimally planned, and quality audits are delivered.ESSENTIAL QUALIFICATIONS REQUIREDA Business Mathematics/Actuarial/Financial Engineering/Informatics/Quantitative Risk Management Degree with majors in Mathematics and Statistics is essential.A post graduate degree would be advantageous.Minimum Experience Level5 - 7 years extensive experience in model development, testing and validation or Model/Quantitative risk Audit (preferably within the banking or similar financial services industry);Ability to operate independently with minimal supervision;Knowledge of statistical, financial, risk and quantitative methods;Proficiency in programming software packages such as SAS, SQL, R, VBA, PYTHON and MATLAB.Understanding of credit, operational, market and liquidity risk models as defined by Basel II & III will be advantageousA comprehensive understanding of relevant financial services regulatory frameworks and compliance requirements as well as practical experience of these.The following additional experience is preferred:Extensive internal/external audit and / or risk management experience in banking;Actuarial and/or Market Risk experience.OTHER PERSONAL ATTRIBUTES REQUIREDAside from the required qualifications, vast experience and strong technical skills required for the role, strong personal as well as interpersonal attributes and skills are also essential to thrive and be successful in this role include. These include:Emotional Intelligence (EQ);Applying experience and best practice into audit discussions and work performed;Leadership and judgement;Relationships and stakeholder management;Business acumen;Values-based (especially Integrity, Respect, Accountability, Client-driven, People-centred) and strong ethics;Various testing will be conducted to confirm the suitability of the short-listed candidates before final selection of the successful candidate.Technical / Professional KnowledgeAudit reportingAudit standards and practicesBanking knowledgeGovernance, Risk and ControlsEthics and FraudReputational risk managementInformation technologyBusiness writing skillsRegulatory, Legal and Economics PrinciplesBusiness AcumenManaging WorkMonitoring InformationBuilding PartnershipsQuality OrientationWork StandardsCourageDisclaimer Preference Recruiting Team at +27 860 555566 will be given to candidates from the underrepresented groups Please contact the Nedbank. ---------------------------------------------------------------------------------------
Please contact the Nedbank Recruiting Team at +27 860 555 566 If you can't find the job you're looking for, activate job alerts to be one of the first to know when new positions open up.
Nedbank Ltd Reg No 1951/000009/06.
Authorised financial services and registered credit provider (NCRCP16).
For assistance please contact the Nedbank Recruiting Team at +27 860 555 566
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