Head of Internal Audit

About the role

A reputable client in the banking and financial services sector is looking for a highly experienced and strategic Head of Internal Audit to lead an independent Internal Audit function in Somerset West, Cape Town. The role provides objective assurance to the Board and Executive Committee on governance, risk management and internal controls, and reports to the Board Audit Committee.

Key responsibilities

• Develop and implement the Internal Audit strategy, charter and risk-based annual audit plan.
• Provide independent assurance on governance, risk management and internal controls.
• Oversee audits covering credit, operational, IT/cyber, financial crime and conduct risks.
• Present audit findings, recommendations and risk assessments to the Board Audit Committee.
• Monitor corrective action plans and ensure findings are resolved.
• Ensure compliance with IIA standards, King IV and banking regulations.
• Engage with regulators such as the Prudential Authority and FSCA.
• Set up and maintain a quality assurance and improvement programme, build the audit function and introduce data analytics and continuous auditing.
• Support investigations into fraud, governance breaches and whistleblower matters.

Required profile

• Bachelor's degree in accounting, finance, risk management or a related field.
• CA(SA) and/or CIA designation, or well advanced towards completion.
• 10-12 years of internal or external audit experience in banking or financial services.
• 5 years in a senior Internal Audit leadership role in a regulated financial institution.
• Proven experience reporting to a Board Audit Committee and engaging with the Prudential Authority or equivalent regulators.

Required skills

• Strong knowledge of risk-based auditing, IIA standards and banking regulations.
• Leadership, stakeholder management and Board-level reporting skills.
• Analytical and strategic thinking, independence and professional judgement.
• Excellent communication, presentation and problem-solving skills.

Advantageous: CISA qualification, experience building an audit function in a new or growing bank, IT/cyber and data analytics exposure, and leading multidisciplinary audit teams. Applications not contacted within 14 days are considered unsuccessful.