Job Details
- Expires 1 February 15 days left to apply
- Reference number: AP1119
- Province: Eastern Cape
- Type of engagement: Permanent appointment
- Posted: December 11th
Background to Position
LOCATION: Eastern Cape: All campuses of the university
The University of Fort Hare since its foundation has been a beacon of excellence and hope, a lodestar for national and continental regeneration. For that reason, its new Strategic Plan, Towards a Decade of Renewal, 2022-2026 is critical in steering the future of our iconic institution. A Decade of Renewal, Be a part of it!
The position of the Chief Internal Auditor provides an independent and objective assurance on the institution's governance, risk management, and internal control processes. Governs the internal audit function, conducts special audits, and makes recommendations for improvement to Senior Leadership / Senate.
Job Description
KPA 1) Govern and Direct the Institution’s Internal Audit Division
- Play a key role in shaping the overall strategic direction of the institution.
- Govern the implementation of policies & strategies agreed by Council / Senate.
- Promote the institution’s reputational profile through networks & partnerships.
- Provide oversight, leadership & guidance to units under area of responsibility.
- Establish a combined assurance framework in place.
- Play a key role in executive/governance committees.
- Direct the leadership resources as per structure.
- Monitor the achievement of the unit’s strategic plan achievement.
KPA 2) Medium to Long-term Conceptualisation and Vision
- Formulate & review strategy aligned with vision & mission.
- Approve implementation of structures, resources & systems.
- Collaborates with senior stakeholders in strategy design.
- Conduct regular strategic alignment reviews.
- Provide regular feedback to senior stakeholders on plan implementation
KPA 3) Strategic Financial Business Planning and Budgeting
- Conduct long-term financial projections & planning.
- Allocate & re-allocate funds & resources based on portfolio needs & requirements.
- Approve financial strategies in conjunction with senior stakeholders / Board.
- Obtain approval for annual budgets from executive committee/Board.
- Exercise prudent budgetary control.
- Approve large payments, assets procurement & services.
- Monitor cash flow management.
- Report on financial & budgetary objectives/plans
KPA 4) Organisational Leadership Management
- Plan leadership talent, succession and development based on strategy.
- Direct preventative & mitigation strategies for anticipated talent risks.
- Recruit, select & appoint a leadership team based on the approved Resource Plan.
- Build & direct the leadership team within the portfolio structure.
- Manage performance management aligned with the Performance Management System.
- Direct talent competence, skills & performance levels aligned with strategy.
- Submit a succession & development plan progress reports to senior leadership.
KPA 5) Strategic Relationship Development
- Participate in key institutional policy and decision-making bodies.
- Develop & foster partnerships with local & international academic institutions.
- Engage with industry/government stakeholders aligned with business area.
- Participate in related industry forums
KPA 6) Organisational Internal Audit Leadership and Advice
- Influence the institution's internal audit strategy & policy.
- Provide strategic internal audit direction in the strategic planning process.
- Establish frameworks for combined assurance.
- Provide direction on the ICT Audit strategy.
- Remain abreast of latest developments in internal audit legislation.
- Direct Internal Audit Charter & gain approval from senior leadership.
- Direct internal audit policies & procedures aligned to business objectives.
- Approve the:
a) Internal Audit Plan (in consultation with executive members),
b) Risk based annual internal audit program, budget & performance criteria,
c) Facilitation of fraud prevention & corruption awareness program,
d) Audit reports for each engagement within the annual ICT audit plan,
e) ICT Audit Charter & obtain approval,
f) Risk based annual ICT audit program, budget & performance criteria,
g) Internal audit schedules & confirm the achievement of program outcomes.
- Consider audit reports for each engagement within annual internal audit plan.
- Govern the following:
a) Internal audit process improvements to ensure that value-adding services are in place,
b) Assurance on information management controls.
c) Assurance of the control environment.
d) Internal audits and processes.
- Consider audit reports for each engagement within annual internal audit plan.
- Build business relationships with senior internal resources.
- Advise mitigation plans to the executive leadership.
- Advise on security policies, procedures & incident response plans.
- Direct ICT governance practices, security controls & risk management process.
- Govern & direct the cybersecurity assessments process & outcomes.
- Monitor:
a) Outputs of the quality control function for Internal Audit,
b) Quality updates of business process models with commensurate controls,
c) Effectiveness of the internal audit function & suggests improvements,
d) Monitor implementation and compliance success of the ICT Audit Charter.
- Track and monitor the implementation and compliance with the Internal Audit Charter.
- Report results of audit assignments to the executive committee.
- Recommend initiatives to the Audit Committee on key decisions required.
- Report results of ICT audit assignments to senior leadership.
- Present recommendations, investigations & ad hoc ICT Audit reports.
KPA 7) Corporate Risk Assurance
- Remain abreast of corporate strategy/direction/business models and Governance Frameworks (e.g. King IV).
- Provides input into the Corporate Risk Strategy.
- Remains abreast of legislation & jurisdictions and the changes within.
- Assume responsibility for all aspects of the corporate disaster continuity plan.
- Evaluate risk processes.
- Draft & evaluate a leadership succession strategy.
- Remains abreast of industry drivers/risks/trends.
- Disseminate & inform leadership on the risk strategy plus operational plans.
- Manage the relationship between the institution & various regulators.
- Collaborate and provide input to compliance projects.
- Drive the implementation of new requirements such as legal, organisational etc.
- Plan & direct risk audits.
- Monitor maintenance & updates on the Risk Register.
- Propose & obtain approval from governance structures for corrective action.
- Monitor compliance to Risk Policy.
- Monitor legislative reporting requirements related to risk.
- Monitor systems audit functions.
- Assess the capacity of process owners, line risk & compliance staff.
- Draft standard corporate risk audit reports.
- Suggest mitigation strategies to address gaps/non-compliance.
Inherent Criteria
Minimum Qualification(s)
- B. Comm Hons with Accounting/Internal Audit, MPhil in Internal Auditing or equivalent.
- CIA, CISA and Postgraduate Diploma in Risk & Compliance are an advantage.
Minimum Experience
- A minimum of 10 years’ experience.
- Experience in higher education or public sector organisations is advantageous.
- A strong understanding of internal audit standards, principles, and practices.
- Proficiency in audit software, data analytics tools, and Microsoft Office Suite.
Functional Competencies
- Financial standards and legislative compliance
- Financial information analysis
- Financial risk management
- Internal audit reporting
Application Requirement
- A letter of motivation.
- A comprehensive CV.
- An abridged CV.
- A completed UFH Job Application Form.
- Names and contact details for at least 3 referees.
- Certified copies of matric and degree certificates and Identity Document. Foreign qualifications must be accompanied by an evaluation certificate from SAQA.
