Head of Audit – Corporate Governance OMSA
Brief Posting Description
This role is responsible for the functional management and audit assurance delivery management of the Old Mutual Group Internal Audit (GIA) in respect of OMAH and M&F business portfolios. The role will report to the Audit Director: OMEM and M&F and will support him with the implementation of the GIA strategy and mandate for the said portfolio as part of the GIA OMEM and M&F Executive Committee (Excom) as well as the GIA Extended Leadership Team.
The role will have responsibility for the development and implementation of the functional business plan, including financial and human resource management. The audit plan will be delivered using the audit resources from the applicable specialist teams and will include co-ordination with the Subject Matter Lead (SML) audit roles in GIA M&F and OMEM to ensure the application of the right skills to the right assignments at the right times.
The role will further be interacting with and providing audit assurance to the M&F and OMAH Executive Committees (Exco) as well as M&F and OMAH Audit and Risk Committees.
The key outcomes expected from the role are:
- Help the relevant Boards and Executive Management teams to protect the assets, reputation and sustainability of OMAH and M&F;
- Challenging and influencing the relevant executives to improve the governance, risk and control culture; and
- Helping the business to deliver the strategic initiatives successfully by focussing on the most significant risks, both existing and emerging and the most significant strategic initiatives being undertaken.
- Support the AD: OMEM and M&F to set the strategic direction for the function, in line with GIA strategy;
- Manage implementation of the strategy;
- Develop and implement a business plan for the portfolio, that is aligned to the GIA strategy;
- Build the profile and credibility of the function with key stakeholders; and
- Facilitate the implementation of all Quality Assurance initiatives.
- Lead development of the portfolio audit plan and direct SML assurance focus;
- Execute the audit plan through SMLs – right people doing the right jobs at the right time;
- Manage Quality and Performance, maintain independence and implement corrective action where required. Accountable for audits being delivered to the GIA quality standard; and
- Consolidate and report integrated results for the portfolio.
- Develop and maintain effective relationship with portfolio Exco, Board members, Audit Committee and Regulators;
- Manage stakeholder engagement and relationships across the portfolio;
- Participation in portfolio Audit, Risk and key Governance bodies; and
- Exert influence and challenge to positively impact the control environment of the portfolio.
- Manage implementation of the functional resource plan and remove barriers to the effective utilisation of resources;
- Manage operational support service levels and track operational efficiency and risk management;
- Responsible to the Audit Director: OMEM and M&F for the management of the function’s finances;
- Monitor functional Management Information and remove barriers to effective, efficient and timely reporting of Management Information
- Monitor and manage GIA Key Performance Indicators (KPIs); and
- Comply with IIA Code of Ethics and GIA Policies and Procedures.
- Develop and implement the GIA people strategy in support of group initiatives;
- Performance management and development of 3 to 6 direct reports;
- Monitor GIA Compliance with local business HR policies & procedures; and
- Create an environment and nurture a culture of teamwork and collaboration.
Qualifications & Professional Affiliations
- University Degree (majoring in either Accounting/Auditing/Risk management).
- Professional Qualification (CIA, CA) or other relevant Professional Affiliation and Standing.
- Minimum 10 to 15 years experience in auditing and / or risk management environment, including 3 to 5 years senior management experience.
- Experience in operating in different cultural environments, with exposure to different African countries an advantage
- Financial services industry and specifically general insurance experience in blue chip company (global listing advantageous);
- Understanding and application of enterprise risk management principles;
- Experience in leading on technical and quality reviews;
- Experience of client relationship management at a senior level, including CEOs, Non-Executive Directors and Regulators;
- Exposure to Board reporting and engaging with and influencing Board members;
- Exposure to leading and managing large audit teams, including development, performance management, coaching and budgets; and
- Experience of building and utilising strong relationships both within and outside of own function for the success of the wider GIA team.
- Proven people leadership, development and performance management of staff, large teams and budgets;
- Display the company values and Act Now! Leadership behaviours in support of our culture;
- Proven personal and individual development leading to successful outcomes;
- Proven experience in managing functions in a matrix structure environment;
- Significant and proven experience of operating at managerial and executive level within a local geographic and group company; and
- Post graduate leadership qualification/ certificate will be advantageous.
- High Level of Computer Literacy
- Internal Auditing Methodologies
- Business Process Analysis
- Risk Analysis & Control Assessment Techniques
- Analytical Tools
- Written Communication
- Project Management