Head of Audit: Business Banking

Africa's financial landscape is dynamic, and within this evolving environment, Absa is seeking a seasoned audit professional to spearhead the internal audit function for its Business Banking division. This pivotal role offers a unique opportunity to influence the strategic direction and operational integrity of a significant segment of the bank, impacting a diverse client base that relies on Absa for everything from transactional services and lending to sophisticated digital solutions and trade finance. The successful candidate will be instrumental in providing critical assurance and insightful guidance on the multifaceted risks and opportunities inherent in modern business banking.

The Role of a Strategic Audit Leader

Reporting to a Managing Principal within Absa's Group Internal Audit, the Head of Audit for Business Banking will be tasked with crafting and implementing a robust, risk-based audit strategy. This involves not only overseeing the delivery of high-quality assurance outcomes but also actively contributing to the broader governance, risk management, and control frameworks that underpin the bank's success. As a key member of the Internal Audit Extended Leadership Team, this position demands extensive engagement with executive committees, boards of directors, and regulatory bodies, alongside collaboration with assurance partners across the entire Absa Group.

The core of this role lies in blending deep audit expertise with a commercial understanding of how business banking generates value for both clients and shareholders. The ideal candidate will possess the gravitas and executive presence to engage constructively with senior stakeholders, serving as a trusted advisor on strategic objectives, transformative initiatives, the effectiveness of governance structures, and the identification of emerging risks within the complex and rapidly changing banking sector.

Key Responsibilities and Expectations

The responsibilities within this leadership role are broad, encompassing strategic oversight, team development, stakeholder engagement, and the effective delivery of audit services.

Strategic Leadership and Team Development

• **Inspiring a High-Performing Team:** Lead and motivate a team of skilled audit professionals and subject matter experts dedicated to the Business Banking portfolio, fostering an inclusive and collaborative environment that aligns with Absa's values and the internal audit strategy.
• **Talent Cultivation:** Drive the development of future-fit audit capabilities through dedicated coaching, mentoring, and comprehensive succession planning.
• **Continuous Learning:** Promote ongoing learning within the team concerning business banking operations, risk management, data analytics, emerging technologies, and audit innovation.
• **Navigating Change:** Guide audit teams effectively through organisational and business transformations, ensuring sustained engagement and excellence in delivery.
• **Culture of Improvement:** Cultivate a team culture characterised by accountability, curiosity, professional scepticism, and a commitment to continuous improvement.

Stakeholder Engagement and Influence

• **Trusted Advisor:** Act as a key advisor to Business Banking executives, governance committees, boards, and regulators, providing independent perspectives.
• **Relationship Building:** Forge and maintain strong professional relationships with Managing Executives, Executive Committee members, and representatives from Risk, Compliance, and other assurance functions.
• **Insightful Reporting:** Offer independent insights on emerging risks, strategic undertakings, and the effectiveness of internal controls.
• **Influencing Outcomes:** Guide senior stakeholders through clear communication, pragmatic recommendations, and well-articulated risk perspectives.
• **Assurance Framework:** Support and strengthen the Group's combined assurance model, ensuring seamless collaboration across all lines of defence.
• **Industry Awareness:** Maintain a current and in-depth understanding of customer needs, market trends, regulatory requirements, and competitive developments within the banking industry.

Portfolio Oversight and Audit Delivery

• **Business Understanding:** Develop and maintain a thorough comprehension of Business Banking operations, products, client base, and strategic imperatives.
• **Risk Assessment:** Proactively assess risks stemming from evolving business models, regulatory changes, market dynamics, and transformation initiatives.
• **Coordinated Assurance:** Collaborate with business leadership, risk, and assurance functions to ensure comprehensive and coordinated audit coverage.
• **Enterprise View:** Provide an integrated, group-wide perspective on key Business Banking risks, trends, and emerging themes to inform audit planning and reporting.
• **Dynamic Audit Planning:** Develop and maintain a flexible, risk-based audit plan that is closely aligned with Business Banking's strategic objectives and risk priorities.
• **Quality Assurance:** Deliver high-quality audit opinions, governance reports, and issue validations in strict accordance with Internal Audit standards.
• **Strategic Risk Lens:** Apply a strategic perspective, focusing on residual risk when evaluating control weaknesses and potential future risks.
• **Technological Integration:** Champion the adoption of data analytics, continuous auditing techniques, and technology-enabled assurance methods.
• **Impactful Reporting:** Produce concise, impactful, and actionable reports for senior management, boards, and regulatory bodies.
• **Risk Monitoring:** Oversee emerging risks related to credit, lending, digital transformation, customer outcomes, operational resilience, financial crime, and regulatory compliance.
• **Timely Execution:** Ensure the prompt delivery of all audit commitments while upholding the highest standards of quality.

This role calls for a professional with a strong educational background, ideally a Bachelor's Degree in Commerce, Accounting, Finance, Risk Management, or a related field, complemented by a relevant professional qualification such as CA(SA), CIA, or CISA.

In South Africa, a leadership role like Head of Audit in a major banking group typically commands a competitive remuneration package, reflecting the significant responsibility and expertise required. Such positions are commonly found within the major banking institutions, and career progression can lead to broader group-level audit leadership or executive roles within the bank's risk and control functions.

Education and Experience:

Essential:

• Bachelor's Degree in Commerce, Accounting, Finance, Risk Management, Business or a related field.
• Professional qualification such as CA(SA), CIA, CISA, ACCA or equivalent.
• Minimum 15 years' experience within Internal Audit, External Audit, Risk Management or Financial Services.
• Significant leadership experience managing teams in complex, matrix organisations.
• Deep understanding of banking products, credit risk, operational risk, digital banking and conduct risk.

Highly Advantageous:

• Business Banking, Commercial Banking or Corporate Banking experience.
• Experience operating within large, complex banking or financial services organisations.
• Experience engaging with Boards, Regulators and Executive Committees.
• Exposure to data analytics, digital auditing and technology-enabled assurance.
• Experience leading assurance over large-scale transformation programmes.

Critical Skills and Competencies:

• Strategic and enterprise-wide thinking.
• Business Banking and commercial acumen.
• Deep understanding of Business Banking products, customers and risk drivers.
• Risk and control expertise.
• Executive presence and influencing skills.
• Board and regulator engagement.
• Leadership and talent development.
• Data-driven decision making.
• Digital and technology awareness.
• Change and transformation leadership.
• Strong communication and stakeholder management.
• Professional scepticism and sound judgement.
• Resilience and adaptability.
• Innovation and continuous improvement mindset.

Education

Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required), Postgraduate Degrees and Professional Qualifications: Statistics (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