Brief description
The main purpose of this position is to plan and lead audits to provide independent and objective assurance and consulting services regarding the adequacy and effectiveness of the control, risk management and governance processes of the South African Reserve Bank (SARB).
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Review the work of internal auditors, providing necessary on-the-job coaching and training as needed.
- Contribute to the development and maintenance of policies, procedures, checklists, models, frameworks and templates governing internal auditing within the SARB.
- Stay abreast of and apply current work methods, analytical techniques and protocols relevant to audit work.
- Conduct research and compile thorough, concise and reliable preplanning working papers that reflect research outcomes as part of the process understanding.
- Define the scope and objectives of audit assignments.
- Perform engagement risk assessments, walkthroughs and adequacy assessments using research and analytical tools.
- Develop an audit programme to address audit objectives.
- Lead audit projects or assignments to meet targeted milestones.
- Execute the audit programme, including conducting, evaluating, documenting and concluding on the results of the audit tests in the working papers.
- Draft detailed audit findings that include standard, condition, root cause, impact and recommendations.
- Prepare reports, participate in engagements with departments and present audit findings and recommendations.
To be considered for this position, candidates must be in possession of:
- an Honours degree (NQF 8) in Internal Auditing, Information System, Accounting, Risk Management or an equivalent qualification;
- a Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) or a Chartered Accountant CA(SA) qualification; and
- five to seven years’ experience within an auditing environment.
Additional requirements include:
- knowledge and skill in:
- industry, organisational and business awareness;
- quality assurance;
- continuous improvement in learning/professional development; and
- risk assessment and control design;
- solid grasp of risk management principles, tools, methodologies, frameworks, policies and processes;
- extensive experience in internal audit principles, tools, methodologies, frameworks, policies and processes;
- understanding of information technology systems and systems controls;
- knowledge of indicators to identify possible fraud; and
- knowledge of technology-based audit techniques, including data analytics.
In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.
The SARB offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his/her competence and experience.
About SARB
Primary mandate of the SARB
Section 224 of the Constitution of South Africa states the mandate of the SARB as follows:
The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.
The South African Reserve Bank, in support of its primary objective, must perform its functions independently and without fear, favour or prejudice.
WHAT WE DO
Monetary Policy
The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inflation low and steady.
Financial Stability
The SARB has a mandate to protect and enhance financial stability. We identify and mitigate systemic risks that might disrupt the financial system.
Prudential Regulation
The Prudential Authority regulates financial institutions and market infrastructures to promote and enhance their safety and soundness, and support financial stability.
Financial Markets
Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves.
Financial Surveillance
The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions.
Payments and Settlements
The SARB is responsible for ensuring the safety and soundness of the national payment system, which is the backbone of South Africa’s modern financial system.
Statistics
The SARB provides important economic and financial statistics that present an overview of the economic situation in South Africa.
Research
Research conducted by the SARB focuses on economics, financial stability, banking and emerging trends in finance. Our research supports policy decision-making.
Banknotes and Coin
The SARB has the sole right to make, issue and destroy banknotes and coin in South Africa.
