About the position
Position is to provide leadership and strategic direction the Accounting and Auditing Division in providing technical advice and support to frontline supervisors in banking, insurance and financial market infrastructures (FMIs) with regard to the application and interpretation of accounting and audit matters, prudential legislation, applicable standards and analysis of industry data as well as oversee frameworks relating to industry information disclosures.
JOB DESCRIPTION
- Provide input into the departmental strategy and operational plan, communicate and clarify the vision and strategic goals of the company;
- Develop strategic and operational plans for the division aligned to the PA and PSIS strategy and manage implementation thereof, including the building of capacity & capability for the division.
- Develop and oversee the implementation of processes relating to Accounting and Auditing standards,
- Lead the Accounting and Auditing Division ensuring delivery of high-quality support and advice to the PA and relevant departments within the company on the interpretation and application of the primary legislation, subordinated legislation and other relevant information that include, but are not limited to, prudential standards, regulations, directives, circulars and guidance notes, across the banking, insurance and FMI sectors.
- Oversee the provision of technical guidance to the PA on Accounting and Auditing matters affecting regulated institutions (e.g. international financial reporting standards – IFRS 9 and 17)
- Approve auditor and engagement partners applications in collaboration with frontline supervision colleagues.
- Provide oversight over Pillar 3 disclosures
- Influence and manage stakeholder relationships internally and externally to ensure accounting and auditing support across Banking, FMIs and Insurance. Engaging with external stakeholders, mostly regulated institutions and professional industry bodies and industry associations (e.g. The Basel Committee on Banking Supervision (BCBS), The Banking Association South Africa (BASA), South African Insurance Association (SAIA), Association for Savings and Investment South Africa (ASISA), The International Accounting Standards Boards (IASB), Independent Regulatory Board for Auditors (IRBA), South African Institute of Chartered Accountants (SAICA), Actuarial Society of South Africa, and so on), as required to explain the interpretation of prudential legislation in the context of accounting and auditing.
- Clarify performance expectations and roles for the team within the division, prioritise work, manage resource utilisation & quality of deliverables as well as control costs
- Manage the performance and development of direct reports, create a performance and innovation culture and promote and support career development within the division.
- Ensure continuous improvement in the delivery and functioning of the Accounting and Auditing division
- Oversee and ensure that the internal audit findings are addressed adequality and timeously.
- Lead change, which includes creating and maintaining a culture supportive of the company’s values and promoting diversity and inclusion in the workplace
JOB REQUIREMENTS
- A Chartered Accountant South Africa (CA(SA)) or a fellow of the Actuarial Society of SA
- 10 to 12 years of experience minimum of 10-12 years’ experience in Capital Management within the financial sector or regulatory environment and with at least five years in a managerial role.
Desired Skills:
- • Quality assurance
- • Accounting and auditing
- • People management
