Internal Audit Manager

Bayport Management Limited (BML) was incorporated in 2001 as a holding company for a number of future subsidiaries. Through these subsidiaries, all operating under the Bayport Financial Services banner, financial services are delivered to customers. Operational support for the Bayport Financial Services subsidiaries is provided by Bayport International Group Support (BIGS), based in Johannesburg and London.

Bayport Financial Services’ operations are domiciled in Botswana, Ghana, South Africa, Mozambique, Tanzania, Uganda, Zambia and now Colombia. The group services over 320 000 clients through its 288 branches and over 3,195 employees and USD400 Million in value of debtor book.

The Internal Audit Manager’s role is to draft and execute the annual internal audit plan, prepare the internal audit budget for approval and manage the budget monthly (variance report and forecasts). Manages and conducts operational, financial, and compliance audit projects; completes audit projects in accordance with the Group Internal Audit methodology and in line with the Institute of Internal Audit (IIA) standards. Provides consulting services to organisational management and staff in accordance with the internal audit plan or upon request by management on an ad hoc basis. The key responsibilities will include:

1. STRATEGIC INITIATIVES

Continuous Improvement

• Keeps current with developments in the field of auditing including the Institute of Internal Audit (IIA) Standards and the Group Internal Audit Methodology
• Maintains compliance with Institute of Internal Auditors Standards for the professional practice of internal auditing and the Code of Ethics
• Keeps current with developments in the financial services industry such as accounting issues, regulatory environment, etc. and incorporates into daily work
• Continually assesses personal and professional behaviour against the principles set out in the IIA Code of Ethics
• Keeps abreast of industry developments with regards to fraud risk and risk management practices through self-study and attending industry forums

2. OPERATIONAL

Plans and Executes Internal Audits

• Prepares annual IA budget for review by Chief Audit Executive and sign off by subsidiary and group
• Develops an internal audit plan based on business objectives, and high risk areas to provide assurance on the internal and financial control environment
  Evaluates risk and related operations to determine areas of highest exposure with intent to maximise audit coverage
• Coordinates interactions with other subsidiary assurance providers in consultation with the Chief Audit
• Executive to limit duplication of effort and synchronise work deliverables
• Prepares specific audit program and time schedules, to accomplish tasks and/or individual assignments
• Performs planned audits in accordance with approved audit program to test the adequacy and effectiveness of controls to mitigate risk and achieve the business/control objectives
• Formally documents timelines per project per team member, retain details on TeamMate and actively manage and update these
• Provides assistance to or coordinate efforts of outside audit firms and regulatory agencies
• Manages TeamMate files in line with expected standards and the Group Internal Audit Methodology
• Performs quality reviews on working papers to ensure compliance with the Group Internal Audit Methodology and formally record coaching notes on TeamMate to support review work performed
• Prioritises ad hoc requests for completion in terms of expectations whilst managing audit projects and responsibilities
• Displays multi-tasking and prioritisation abilities through adequate knowledge and understanding of the business strategies and risks

Reporting

• Documents findings and recommendations on affected departments and prepares draft reports
• Evaluates responses to reports for reasonableness and assists in or prepares final report to senior management with analyses, recommendations, counsel and information concerning the activities reviewed
• Responsible for the interim and year-end audit assistance with certified public accounting firm
• Internal audit reports and other communication consistently displays a high level of understanding of governance, risk, compliance and internal auditing principles
• Attends industry forums to support self-development and share information accordingly
• Prepares audit reports for presentation to management and the Audit, Risk and Compliance (ARC) Committee.
• Develops and maintains tracking register for previously reported Internal Audit findings, External Audit management letter items and other assurance provider reports such as Central Bank review
• Reports on the progress of these items as per the Group Internal Audit Charter to the quarterly ARC Committee (subsidiary and/or Group)
• Drafts and presents internal audit reports to management, the subsidiary ARC Committee and Group ARC Committee

3. PEOPLE MANAGEMENT

• Directs Internal Auditors day-to-day audit activity, including the review of audit work papers, as to accuracy and adherence to departmental and IIA Standards
• Conducts performance review process for Internal Auditors and handles other HR matters (including training registers, leave management, disciplinary processes, etc.). Ensures Individual Development Plans (IDPs) for direct reports are documented
• Performs continuous reviews of team members output to ensure timeous identification for intervention requirements
• Provides value add input to the departmental training programme and timeously communicate needs in this regard
• Develops action plans based on customer survey questionnaires to adequately address weaknesses and potential opportunities
• Formalises and communicates leave planning per annum, work time arrangements, and performance appraisal sessions per team member with summarised feedback to the Chief Audit Executive

4. STAKEHOLDER ENGAGEMENT

• Establishes and maintains effective communications and professional relationships with department management to identify and ensure key business objectives and risks are incorporated into the audit process
• Continuously works to identify and remove barriers to increased productivity, quality, cost effectiveness, timeliness of operations and customer satisfaction
• Consistently demonstrates high standards of integrity by supporting the Bayport Group’s mission and values and adhering to the Corporate Code of Conduct
• Maintenance of professionalism and confidentiality in interactions with business and or other assurance functions, whether internal and/or external
• Interaction and co-ordination with other assurance providers (Forensics, Compliance, Risk Management, External Audit, Rating Agencies, etc.) resulting in efficiencies, control reliance and strong relationships to assist in achieving overall Group assurance objectives in a cohesive manner

Engage in the following forums:

• Attends ARC Committee meetings as an invitee to present feedback and attend other relevant forums/committees as observer to ensure understanding of the business and input into the annual audit plan, e.g. Risk Manager Forum, Credit Committee, Management Committees, etc.
• Attend as invitee Credit Committee, Risk Management Forums, Management Committee, etc. depending on the subsidiary arrangement – where these meetings are not attended, minutes of these meetings have to be received as a minimum by this role to adequately advise and inform the Internal Audit function

The successful applicant need to meet the following criteria: 

1. Education

Minimum Qualifications: 

B.Compt / B.Com Accounting / Internal Auditing degree Honours degree in Accounting or Internal Audit

Desired/Preferred Requirements

CISA, CIA, CA (SA), ACCA, CRMA, CCSA will be an advantage

Certifications and Training Courses

Microsoft Excel and Word Intermediate Training Courses

2. Experience

Minimum Qualifications

• 6 years’ audit experience (Big 4 experience advantageous)
• 3 years’ minimum management/supervisory experience
• Knowledge of legislation that applies to the organisation and the environment in which it conducts its business, as well as region-specific legislation that may be relevant. Must keep abreast of changes to existing legislation and the introduction of new legislation

Industry Experience

• 3-4 years of financial industry experience

3. Desired/Preferred Requirements

• Comprehensive understanding of Retail Unsecured Lending products would be an advantage
• TeamMate
• Application control audits
• Data analysis review exposure, including the use of data analysis software tools (e.g. IDEA, ACL)
• Insurance industry (advantage)