Independent Chairperson of the Audit and Risk Committee

QUALIFICATION AND EXPERIENCE REQUIREMENTS

• The candidate should have a bachelor's degree and a postgraduate qualification, with between 7 -10 years of management experience gained from an Audit/Financial/ Legal/Governance/Risk and Compliance Management environment.
• A minimum of a postgraduate qualification NQF 8 in Auditing Strong expertise in Corporate Governance, Accounting/Financial Management, Risk, Information and Communication Technology, Compliance Management, Auditing and Performance Management.
• Must be a Chartered Accountant and must be in good standing with SAICA/other relevant and/or equivalent professional regulatory body. Registration with the South African Institute of Chartered Accountants SAICA is preferable.
• Expertise gained from a combination of the following fields, preferably in the public sector: Internal and External Audit; Accounting, Risk Management, Financial Management, Information Technology. Knowledge of Information Technology Governance, Legal and Compliance, Project Management. Excellent communication skills verbal and written. Financial and Non-Financial Reporting, Fraud Risks, Internal Financial Controls.
• Extensive leadership and experience of serving on an Audit Committee. Extensive leadership experience and exposure of 6-10 years serving as an Audit Committee Member or Chairperson in the public sector environment.

KEY RESPONSIBILITIES AND DUTIES

• Fulfil oversight responsibilities to ensure that PanSALB maintains an effective, efficient and transparent system of annual financial statements, risk management, governance, performance evaluation, Information Communications Technology ICT and internal control.
• Evaluate the effectiveness of the Internal Audit function and the work of external auditors.
• Review PanSALB's annual financial statements and ensure they are compiled in accordance with GRAP.
• Review the performance information and risk management and monitor compliance with legislation.
• Monitor litigation trends with root cause analysis. Safeguard the entity's assets by providing advice to the Accounting Officer and the Board on matters relating to, inter alia, internal audit; internal controls; risk management; accounting policies; financial and non-financial information; Fraud Risks; effective governance and compliance with applicable legislation and prescripts.
• Provide advice and recommendations as may be requested by the Accounting Officer and the Board on specific emerging priorities, concerns, risks, opportunities and/or accountability reporting.
• Review any reports released by the internal and external auditors and Management's response thereto
• Advise the Accounting Officer in the effective execution of his/her responsibilities.
• Report quarterly to the Board on the status of risk management, governance, and internal controls.
• Report to the Executive Authority as required in terms of the PFMA
• Promote and enforce the highest degree of ethical standards in business practices within the organisation and in external relationships.
• Regulate and discharge all responsibilities as contained in relevant legislation/s and/or the Audit and Risk Charter.

KNOWLEDGE AND EXPERIENCE IN THE FOLLOWING WILL BE KEY

• Knowledge of applicable prescripts including the Public Finance Management Act PFMA, National Treasury
• Regulations and applicable standards.
• International standards, including relevant Public Sector prescripts on the governance of risk management.
• Financial management and reporting.
• Governance of Ethics and Integrity [Fraud Prevention].
• Conflict Management and Compliance Reporting processes at an organisational level.
• Clear understanding of Information and Communication Technology Standards and ICT Governance.
• Business Continuity planning, management and reporting at organisational level.