Control Assurance Testing Officer at NBC Bank | June 2024

NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary

The role incumbent will be responsible to execute assurance reviews through evaluating the effectiveness of internal controls, compliance with policies and adherence to procedures thereby contributing towards management efforts to achieve an improved and sustainable control environment.

Job Description

Execute Assurance Assignments by adapting the current FLOD Methodology.

• Assisting Assurance Manager to prepare Assurance plans.
• Assist the Assurance Manager in communicating the review timelines, approach, objective, and resources, as per the detailed Assurance Plan, by obtaining contact information from line management for use in the Notice of Commencement communication.
• Support the delivery and Implementation of all KYC related reviews and appropriately remediation.
• Support Retail Banking Branches and Head office unit on identifying control weaknesses and timely remediation.
• Through, based on a pre-determined review plan – identify possible control breakdown before scheduled audits. Arrange for Audit pre-review to highlight areas of weakness before actual auditing taking place.
• Perform assurance Control Adequacy Evaluation (CAE) and Control Effectiveness  Evaluation (CEE) reviews (Contracted) by following assurance assignment methodology which outlines the detailed procedures to be followed within timelines and allocated budgets to provide independent assurance opinion on the effectiveness of controls – this action is limited to the compilation and completion of control Demonstrate a good understanding of processes and controls by accurately assessing controls of the Retail Branches and head office units under review and by identifying all weaknesses effectiveness working papers.
• Review controls to improve predetermined risk and to recommend course of action to address control weaknesses identified
• Provide support to Retail branches and head office unit on Managing suspense accounts to ensure timely clearance as per SLA.
• Communicate all control weaknesses continuously to Retail Banking Management in writing after a quality review has been performed by the Assurance Manager on the work papers.
•  Assist in reporting identified weaknesses to Retail Banking Management by populating the report template and providing input towards the Executive Summary/Conclusion of the Draft and Final report, to enable the Assurance Manager to finalize and distribute the Draft as well as the Final report
• Ensure costs are kept to a realistic minimum and are in accordance with Bank guidelines/departmental budget.
• Sharing knowledge with others in order to develop high performing team including execution of assigned e-learning.

Business Unit Management Engagement

• Getting to understand the business to enable smooth interactions to facilitate smooth execution of duties. Maintain effective relationships with branches and head office Management.
• Demonstrate convincing skills during assurance assignments by obtaining buy-in and co-operation from Assigned Unit Management regarding individual control weaknesses identified (effectiveness concerns).
• Advise the Assignment Retail Banking Unit Management and Assurance Manager on a continuous basis of the progress and possible concerns identified during an assignment to ensure pro-active engagement and awareness of all possible concerns.
• Maintain a high level of professionalism in all interactions with business and colleagues in terms of verbal and written communication as well as personal appearance, with the application of approved dress code and acceptable norms regarding all written and verbal communications.
• Contribute towards the image of the Assurance team by displaying and adhering to the Absa values.
• Review Audit closure observation documents as per the Audit Report to facilitate timely closure.
• Advice on the observation to make sure risks are mitigated.
• Assist in closing Audit observations by obtaining all necessary sign off and supporting documents.
• Perfuming pre issue assurance on audit findings

Departmental Efficiency and Productivity

• Apply effective time management by completing the specific assurance assignment duties as allocated by the Assurance Manager/Team Leader within specified timelines as set out in the Notice of Commencement.
• Maintain a high standard of quality for all work performed (working papers, input towards draft report) by adhering to the minimum requirements as set out in the assignment methodology.
• Contribute towards the operational efficiency of the department by timeously completing the required administrative activities related to finance (e.g. travel bookings), compulsory training and Absa policies, and by adhering to the Assurance Operations Manual which are distributed to all staff.
• Ensure all findings raised add value to the business and focus on control issues.
• Monitor accuracy and completeness of working papers by reviewing papers produced to ensure that all areas of risk have been addressed and appropriate recommendations made.

Adhering to Policies and Procedures

• Build awareness, keep up-to date and comply with KYC and  AML regulations
• Maintain and keep updated applicable register
• Attend management ad hock requests.
• Ensure to conform to authority mandates at all times
• Keep updated of all circulars, manuals and policies
• Understand/ operate NBC systems and equipment.

Manage Career Development

• Proactively identify personal development areas and training needs
• Meet training objectives as set out in personal training and development plan
• Complete all mandatory training assigned

Education and Experience Required:

• Bachelor Degree or Advanced Diploma in Accounting or Finance
• A minimum of 3 years experience
• Broad knowledge of banking practice
• Banking Product knowledge
• Banking regulations awareness

Knowledge, Skills and competences required:  

• Customer service skills
• Familiar with branch operations
• Professionalism –Appearance, Presentation and manner of communication
• Communication Skills
• Risk Management

Qualifications

Bachelor`s Degrees and Advanced Diplomas – Business, Commerce and Management Studies, Business Improvement Orientation (Meets some of the requirements and would need further development), Digital familiarity (Meets all of the requirements), Enabling team success (Meets some of the requirements and would need further development), Experience in a similar environment, Openness to change (Meets some of the requirements and would need further development), Operational administration (Meets some of the requirements and would need further development), Product and/or Service Knowledge (Meets some of the requirements and would need further development), Quality orientation (Meets some of the requirements and would need further development)