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Internal Audit Manager – Investment Management - Cape Town City Centre

Our client has a dedicated global in-house Internal Audit function responsible for performing all internal audit reviews throughout their business. The primary role of Internal Audit is to provide the Boards and Executive Management with independent (objective and impartial) Assurance as well as advisory services designed to add value and improve operations to accomplish its objectives. Internal Audit does this by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, and governance processes, and to report on the integrity of the controls within the business.

The team consists of four senior Internal Audit Managers, all reporting to the Head of Internal Audit. The Head of Internal Audit, as well as two of the senior Internal Audit Team members, are located in Cape Town, with the other two senior Internal Audit Team members located in London.

Responsibilities:

  • Build and maintain good relationships with the business and key stakeholders by engendering trust and co-operation with the business, as a business partner, without losing the independence of the 3rd Line of Defence, is a key attribute
  • Have a thorough understanding and application of our client’s Internal Audit methodology
  • Responsible for planning reviews and determining the risks, controls and testing strategy in line with the Internal Audit methodology
  • Perform detailed walk-throughs for the areas assigned for each review
  • Responsible for drafting the Terms of Reference
  • Perform audit testing as outlined in the testing strategy
  • Identify risks/weaknesses/issues and close out the risks/weaknesses/issues with relevant line management
  • Escalate material risks/issues, when identified, to the Head of Internal Audit
  • Draft issues raised for inclusion in the report
  • Set up and close out the draft issues with line and senior management
  • Finalise reports with senior management
  • Follow up and close out of issues on implementation
  • Be involved in ‘High’ risk regulatory change projects to ensure that potential issues are identified early and resolved
  • Escalate risks, issues within the Internal Audit team during team meetings or when it arises
  • Share knowledge and experiences with the team
  • Stay abreast of changes in the market, products, legislation and regulation relevant to the areas covered (regulatory knowledge compulsory):
    • Knowledge of industry trends and applicable regulation and guidance issued by regulators
    • Knowledge of Accounting/Internal Audit Standards
    • Share knowledge of the market, products, legislation and regulation with the broader Internal Audit Team

Requirements:

  • Qualified CA (SA) or CIA
  • A minimum of 5years’ experience in Internal or External Audit in a Financial Services environment. Preferably in an Asset Management Environment
  • Knowledge of Accounting, Internal Audit Standards and Risk Based Audit Methodologies
  • Knowledge and understanding of the Asset Management industry (including key developments and changes)
  • Understanding and knowledge of an Asset Manager’s business processes, products and regulations, as well as business risks
  • Mandatory professional qualifications and exams required
  • Basic IT Internal Audit knowledge, skill and interest, will be an advantage, as well as a CISA qualification or studying towards a CISA qualification
  • Experience in auditing internal control assurance reports, such as the AAF01/06, ISAE 3402, SOC, or equivalent report, will be an advantage

Some of the attributes we look for in a person are:

  • The ability to build and maintain meaningful relationships
  • A strong belief in doing the right thing
  • A client focused and collaborative approach
  • High conviction and be comfortable sharing opinions
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