Audit Manager, CIB Needed At Stanbic IBTC Bank

Audit Manager, CIB Needed At Stanbic IBTC Bank

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.

Stanbic IBTC Bank values original thinkers with genuine insight and the team commitment that will help our clients outperform the market. As Africa’s largest and most respected bank, our Global Markets division offers you an outstanding opportunity to rapidly develop your banking talents. You will work across a range of financial instruments, operating within very different markets and countries.
Our ambitious plans now mean we are looking for a highly experienced Fixed Income Trader

Stanbic IBTC Bank is recruiting to fill the vacant positions:

Audit Manager, CIB – Lagos

Position Description

• To ensure that the internal audit function of the Bank provides quality services that complies with internal and international auditing standards and management expectations.
• To effectively and efficiently carry out planned assignments approved by the Head of Internal Audit.

Key responsibilities
•  Having strong understanding of the business.
• Developing and executing a robust Audit Plan by business entity, in accordance with internal policies, government regulations and Internal Audit professional practice standards.
• Performing/leading audits in accordance with Group Internal Audit (GIA) methodology and professional practice standards; drafting of audit reports; presenting issues to the business; and discussing practical solutions.
• Managing audit activities for a product line, process/function or legal entity.
• Applying in-depth level of expertise in several of the Bank’s functions including: corporate and investment banking, transactional products and services, and the treasury.
• Understanding the interconnectedness of products and support units throughout the Bank and how they impact on the area of responsibility.
• Delivering timely high quality audit reports; all reports emanating from the department should be checked for correctness.
• Managing a small to medium sized team of audit professionals; recruiting staff; developing talent; building effective teams and leading their professional development.
• Upholding the highest possible quality of services through various quality control checks and appropriate allocation of duties.
• Maintaining mutually beneficial relationships with business line management, external auditors, regulators and Group Internal Audit and providing them with periodic reports when required.
• Maintaining the use of best practices by researching and adopting new audit techniques where relevant.
• Monitoring staff performance standards for purposes of motivation, disciplining, counselling and rewarding.
• Reporting monthly and quarterly and annual audit results; issues validation;
• Participating in major Bank initiatives and proactively providing advice and assistance on change initiatives.

Key performance measures
•Meeting quarterly audit plan targets.
• Submission of monthly, quarterly and annual reports to GIA and senior management.
• Budgetary expenditure variances to be positive.
• Level of legitimate complaints from customers and team to be nil or minimum.
• Positive feedback from Head, Internal Audit.
• Positive feedback from Internal Auditors

Internal and external relationships
Internal relationships
• Continuous communication with the Head, CIB/Wealth Audit to get advice and guidance.
• Consult with the Head, CIB/Wealth Audit to get ad hoc assignments and to obtain feedback on work done.
• Hold regular Portfolio Management discussions with auditee/stakeholder management to assess inherent risks and to obtain feedback on work carried out.
• Maintain close communication with Internal Audit team to provide guidance and enhance team spirit.
• Communication with the Head, CIB/Wealth Audit on progress with regard to the annual audit plan.

External relationships
• Maintain close relationship with External Auditors during statutory audits.
• Liaise with Central Bank Examiners in the course of audits carried out by the Regulators.
• Liaise with other banks, particularly their Internal Audit and Investigation teams to share notes   and enable a speedy resolution of investigation work.
• Relate with labour unions where necessary


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