Head of Combined Assurance: Everyday Banking - Johannesburg, South Africa - Absa Bank Limited

Absa Bank Limited

Verified Company

Johannesburg, South Africa

1 week ago

Posted by:

Thabo Mthembu

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Description

Bring your possibility to life Define your career with us

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

In charge of a pro-active and comprehensive combined assurance agenda, coordinating with assurance providers across all lines of defence spanning the entire Everyday Banking, including transforming the function to a future fit capability.

Furthermore, accountable for 2nd line Operational and Resilience risk conformance testing agenda in Everyday Banking.

Job Description:

Governance and Assurance:
(40%)

Lead the combined assurance agenda for the Everyday Banking Business Unit:
Compile a comprehensive combined assurance plan for EB, by consulting with all assurance providers across the 3 lines of defence and:
Map the plan to Critical Process Assessments (CPAs) to ensure coverage of key controls in EB.
Consider material Risk and Control Self-Assessment (RCSA) controls identified across the value chain.
Consider the results of previous assurance.
Consider material change projects which require assurance.
Consider emerging risks.
Continuously consider the appropriateness of the plan and drive changes to the plan by influencing other assurance providers' plans in real time where any changes to these elements occur.
On a periodic basis, Chair and shape the agenda of the combined assurance forum for EB, where the current status of the plan is discussed in the context of these elements, and facilitate a discussion on any proposed changes to the plan. In addition, cover the results of assurance activity and the impact of this on the risk profile.
Drive conformance to the assurance standard.
Strategically lead the transformation of the combined assurance function across all assurance providers and lines of defence in EB.

Through a consultation process and subsequent, measured, and deliberate effort:

Shape assurance activity to ensure more coverage, with less intrusive audit procedures, e.g., testing of algorithms, continuous monitoring, indicators etc.
Shape assurance activity to ensure appropriate sequence of testing across the lines of defence, led by 1st line.
Shape assurance activity to avoid duplication and avoid saturation of audit activities in areas in the business unit at any point in time.
Shape the assurance plan to one which assigns the activities to the most appropriate assurance provider, internal or external.
Become proactive in driving the combined assurance agenda as opposed to simply consolidating the assurance plans from various assurance providers
Design a combined assurance ecosystem where quick decisions are made to change direction if the underlying factors require changes to the plan.
Work with Group teams and drive automation of combined assurance management.
Continuously stay abreast of industry developments and learning on the topic of combined assurance and shape the EB agenda and capability as appropriate.
Assess EB capability and design a plan to respond where opportunities to improve are identified.

Conformance agenda:
(40%)

Drive conformance to the assurance standard and lead the full conformance testing agenda for EB for all Operational Risk policies and standards, and collaborate with the Resilience team to perform the same for all Resilience risk policies and standards.
Define a conformance review plan that covers all BUs across EB. Ensure that the plan supports the EB combined assurance agenda.
Continuously consider the appropriateness and relevance of the conformance review plan and adjust the plan to accommodate any changes in the risk landscape through the combined assurance process.
Identify opportunities to streamline and integrate the conformance plan to reduce intrusion on 1st line teams.
Drive the execution of the conformance review plan in order to ensure conformance to frameworks, policies, and standards.
Evaluate the quality of data maintained on risk management tools and systems and provide recommendations for remediation where weaknesses are identified.
Perform comprehensive independent conformance testing to ensure that results of 1st line MA testing can be relied upon (quality and consistency), in line with requirements of Risk and Assurance Standards. Drive improvement, where required.
Raise Dispensations, Waivers, or Breaches (DWBs) or issues where nonconformances have been identified, especially where these are material.
Engage business stakeholders and maintain effective followup and tracking of the remediation of weaknesses and gaps identified through conformance testing.
Report all material concerns as appropriate and through risk and control governance committees.
Drive the implementation of less intrusive assurance techniques to improve a