Head of Audit & Senior Audit Manager: Functions - Standard Chartered Bank

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Full Job Description - Read Carefully

GIA represents the third line of defence and provides independent assurance of the effectiveness of management’s control of business activities (the first line) and of the control processes maintained by the Risk Framework Owners and Policy Owners (the second line). GIA works with the Group’s other control functions, such as Finance, Risk and Compliance, but does not place unqualified reliance on their work. GIA is an independent function whose primary role is to help the Board and Executive Management to protect the assets, reputation, and sustainability of the Group.

As defined in the Audit Charter, all staff in GIA must exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. They must make a balanced assessment of all the relevant circumstances and not be unduly influenced by their own interests or by others in forming judgments.

GIA will adhere to the Definition of Internal Auditing, the Core Principles for the Professional Practice of Internal Auditing, Code of Ethics and the Standards for the Professional Practice of Internal Auditing that are published by the IIA. It is expected that all members of GIA strive to operate as role models for the Group’s valued behaviours. GIA methodology has defined “Habits of a Human Auditor” which are aligned to the Group’s valued behaviours and communicated across the function.

Responsibilities

In addition to the responsibilities defined in the Audit Charter to protect the assets, reputation, and sustainability of the group. The CHOA will lead on the delivery of the GIA Strategy for the relevant country — focusing on:

• Customer experience
• Effective Group / Country change
• Identifying Group / Country efficiencies
• To act as Team Manager, as necessary, and take responsibility for overseeing the delivery of high-quality audits, the performance of which cause minimal disruption to the business. Responsible, where serving as Team Manager, for the finalisation of audit issues and the audit report.
• To role model the valued behaviours and develop an environment in which positive behaviours are celebrated and poor culture is challenged.
• To execute audit work in an efficient and effective manner, within the given budget and timelines, and in line with GIA methodology standards.
• To clearly identify the risks and impact of issues during issue writing, agreeing these issues with management and obtaining quality management action plans to mitigate the risks raised.
• To lead continuous monitoring of assigned country / portfolio areas, and to build and maintain engagement with stakeholders.
• To take responsibility for the implementation and support of department-wide exercises such as annual planning, risk assessment and training.
• To support GIA audit teams by providing product/country knowledge and expertise for their audits relating to the individual’s area of responsibility.
• To attend and represent GIA at formal committees and Group meetings, providing meaningful challenge and data-driven insights, as required, e.g. Governance Committees and Country Non-Financial Risk Committees; and
• Serve as the GIA country subject matter expert – proactively engage with peers and stakeholders to maintain, build and share knowledge.
• Issue validation: All audit issue action plans agreed during audit fieldwork should be tracked through to completion in accordance with methodology requirements supporting timely closure of issues.

Key Responsibilities

The Central Bank (Bank of Ghana) considers the role holder as a key management personnel and a regulated role per Bank of Ghana guidelines. Therefore, any individual appointed into the role is subject to the approval processes of the Central Bank of Ghana.

The role is strategic and responsible for leading and driving the strategy of the Group Internal Audit (GIA) function in the country. The proposed band is consistent with the profile of the role considering the complexity of role, size of the market and stakeholders i.e., Board, Executive Management etc.

Audit Delivery

• To act as Team Manager on assigned audit work. This will entail managing the Team Leader and junior colleagues working on the audit to deliver the Audit Planning Memo, Process Risks Controls Matrix, agree issues and action plans with management and submission of draft report to the Team Manager for review; Provide clear guidance, detailed review, and supervision of the audit team’s work so that audit deliverables meet quality standards and timelines in line with the GIA methodology
• Provide guidance on business/audit technical knowledge and management skills to Team Leaders and Team Members to enable them to effectively deliver their assigned contributions for an audit.
• Provide technical input and challenge on audit work being undertaken within the scope of assigned product / country area of responsibility. This will include working with the audit team to produce high quality outputs which address the areas of greatest risk
• Support adherence to the GIA methodology in all areas of the audit engagement, as well as raising awareness and understanding of the methodology; Demonstrate sound knowledge of both business/technical areas and expert knowledge in the audit process, including the GIA system, audit work should be carried out to a high standard that meets all methodology and GIA system requirements; Take the lead in presenting the draft report in the GIA report review process (to the tollgate or report approver); and,
• Monitor the implementation/delivery of the agreed issues/audit plans for the audits assigned, understanding the key risks arising, provide advice on resolution of issues to auditees/action plan owners and escalate audit findings that remain unresolved.

Strategy

• Ensure that the Ghana team considers the Group’s strategy and is able to form an independent view of whether the key risks in the organisation have been identified, including emerging and systemic risk and assess how effectively their risks are managed.
• Ensure that the Group’s strategy can effectively manage the risks identified, both from a functional lens as well as a country lens.
• Ensure that the team remains current in terms of industry best practices, emerging risks, internal changes in management and regulatory expectations.
• Deliver the GIAI Performance Scorecard with the GIAI AET.
• On an ongoing basis, assess that the assigned audit plan remains relevant throughout the year as the risk profile of the business changes. Propose changes to audit plans, so that the audit plan remains relevant.
• Ensure that the team operates in line with the Audit Charter during engagements, remains independent from management and free from interference.

People & Talent

• Ensure the team is adequately resourced and staffed by an appropriate number of competent staff, who are sufficiently independent to perform their duties objectively.
• Ensure the team has access to the necessary training / learning programmes to execute their role and meet local regulatory requirements / expectations and, where required, maintain any professional qualifications and memberships.
• Allocate appropriate responsibility, accountability and authority to direct reports.
• Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential.
• Ensure that the team structure, capacity, and succession plan are regularly reviewed and remain appropriate.
• Set and monitor job descriptions and objectives for the team, provide feedback and rewards in line with staff performance against their responsibilities and objectives.
• Lead by example and build the appropriate culture and values according to Bank’s Priorities / Strategy.
• To promote diversity at all levels.

Other Activities

Business

• Ensure the team effectively manages the cost of assigned audits within the allocated budget for audit engagements; and effectively manage the overall GIA budget for Ghana.
• Identify and implement opportunities for cost savings and optimal productivity of assigned audit engagements.
• The role spans audit activity across all functions, business and/or geography areas.

Processes

• Contribute to the development of the overall GIA Audit Plan through Risk Assessment and Top-Down approach based on the inherent risks and knowledge of the risk profiles.
• Oversee the development, implementation and execution of the agreed audit plan in Ghana businesses and facilitate collaboration with the functional audit teams to achieve a holistic approach to the assessment of risks and development of audit plan / strategy. Embed a strong understanding and discipline of implementation of GIA methodology in the team.
• Drive cost efficiencies where possible without compromising on the effectiveness of audits
• Have the professional competence to collect and analyse financial information as well as evaluate audit evidence and to communicate with the stakeholders of the internal audit function
• Possess sufficient knowledge of auditing techniques and methodologies

Risk Management

• Oversee the team, which represents the third line of defence and provides independent assurance of the effectives of management’s control of business activities (the first line) and of the processes maintained by the Risk Control Functions (the second line).
• Ensure early identification and escalation of risks, issues, trends, and developments to relevant stakeholders. Be prepared to raise issues/concerns outside the normal audit process.
• Adopt an anticipatory approach to risk assessment through stakeholder communication and monitoring of external environment to improve audit planning.
• Monitor the implementation / delivery of the agreed audit plan for the country as assigned, understanding the key audit issues arising and escalating any significant audit findings that remain unresolved.
• Provide effective challenge to ensure that risks are appropriately identified and that remediation plans are put in place
• Review MI and reports regularly to keep up to date with key trends within the business and audit deliverables.

Governance

• Ensure that the team remains independent from management and free from interference.
• Ensure that the Audit Plan includes work which will provide independent assurance of the governance processes in Ghana.
• Provide oversight of the Ghana audit portfolios, ensuring compliance with the highest standards of regulatory conduct and compliance practices as defined by internal and external requirements.
• Manage the relevant Country stakeholders and establish good working relationships to help the businesses improve the control environment and keep updated with changes in the business impacting their risk profile.
• Lead by example on how to communicate audit-related matters and resolve any conflict between auditors and auditees during the course of an audit. Use networks and relationships to build engagement and achieve results.
• Escalate delays in execution of audit work in a timely manner, both to auditee management and GIA management, role model this behaviour.
• Be able to clearly explain issues identified along with the risks and root causes to GIA and business management, using language designed to be understood by non-experts; and
• Support country stakeholders to improve the control environment and keep updated with changes in the business impacting their risk profile.
• Embed the valued behaviours and code of conduct to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Support GIA to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.]
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters
• Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association (or equivalent)

Key Stakeholders

• Establish and maintain effective working relationships with the Ghana management and business units which fall under portfolio responsibility.
• Effectively manage external stakeholders such as regulators and reviewers.
• Country Management Team including CEO, CFO, Head of Legal, Head of HR, Head of FCC, Heads of Businesses, COO, CRO, Head of Corporate Affairs etc.
• Local Regulators and their appointed representatives
• External Auditors/ Professional Services Companies
• Risk Committees and Forums
• Group Head, Internal Audit
• GIA COO team
• Other GIA stakeholders
• Audit Committee and Local Audit Committee (where applicable)

Other Responsibilities

• Embed Here for Good and Group’s brand and values in first line operational risk management.
• Serve as the GIA Ghana subject matter expert – proactively engage with peers and stakeholders to maintain, build, and share knowledge.
• Support the Head Audit, West Africa in all matters, including contributing to the GIA risk assessment and development of an appropriate audit plan.
• Embed Here for Good and Group’s brand and values.
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Key Requirements For The Role

• Knowledge of products – to enable assessment of cross-business issues.
• Good understanding of risks and assessment.
• Relevant business experience in banking operations, business analysis and/or project management.
• Strong analytical skills, detail-focused with the ability to interpret large volume of information.
• Problem solving skills with ability to influence across all levels of business.
• Ability to independently drive initiatives with minimum hands-on supervision.

Qualifications

• First Degree and a master’s degree (or its equivalent).
• ACCA or ACA professional accounting certification.
• Minimum of 15 years post qualification experience. Of candidate’s total experience, at least 12 years in must be in the banking industry with a minimum of 10 years’ experience in a financial management/ accounting function of which 5 years must be in a senior position within the audit function.
• An experienced career auditor (internal and external) or a business person who has a breadth of experience in either audit and/or governance.
• Demonstrable experience of Audit requirements in the Ghana market
• Has worked directly with regulators, preferably in the Ghana market
• Strong leadership qualities, interpersonal and people management skills
• Strong communicator, both written and verbal, with ability to influence and to gain the respect of senior management, stakeholders, peers, and their teams.
• Strong sense of integrity and financial independence with an ability to challenge.
• Confident and courageous to raise / escalate issues in a pro-active, professional, and timely manner.
• Highly credible with their counterparts in the business.
• Understanding of regulatory landscape and working culture across a number of geographies
• Self-directed and able to work with minimal supervision.
• Demonstrate understanding of and commitment to the Group’s core values.
• Professional audit certification preferred
• Ability to perform the role of “Change Leader”
• Ability to travel internationally from time to time to support GIA activities & delivery across the group

Skills And Experience

• Manage Conduct
• Business Facilitation: Leading initiatives to improve Client experience, efficiency, and cost management
• Manage Conduct
• Manage Risk
• Manage Projects
• Business Governance & Support: Projects investment governance, product, and process governance, etc
• Information Systems – Applications & PC Skills

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