Audit Committee Chair And Member Vacancies; And Independent Management Assurer

Audit Committee Chair And Member Vacancies; And Independent Management Assurer

Australian Government Department Of Finance | australian capital territory, ACT, AU

Posted 10 days ago

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Description

ABOUT THE ROLES

Finance is looking to fill the following positions on its Audit Committee:
Chair
Member

The Audit Committee provides independent advice to the Finance Secretary on the appropriateness of Finance’s financial and performance reporting, system of risk oversight and management and system of internal control. The Audit Committee is directly accountable to the Secretary for the performance of its functions and has no executive powers in relation to the operations of the Department.

The Audit Committee comprises at least five members as follows:
Chair – appointed by the Secretary
Deputy Chair – one of the members to be appointed by the Audit Committee
At least three other members external to the Department – appointed by the Secretary

Finance may look to fill the following position as part of the recruitment process:
Independent Management Assurer for the Consolidated Financial Statements.

The Independent Management Assurer provides high level oversight and advice to the Deputy Secretary, Governance and Resource Management Group on the Consolidated Financial Statements production process including risk management. This is important in enabling the Finance Secretary and the Minister for Finance to assure the Auditor-General about the adequacy of the Consolidated Financial Statements processes. The Independent Management Assurer has no executive powers in relation to the operations of the Department.
TERM OF APPOINTMENT AND MEETINGS

The appointment will be for aminimum three-year term. Membership will be reviewed after this time to ensure ongoing independence, with the maximum term being up to ten years.
The Audit Committee meets at least four times per year and is supported by two subcommittees: the Financial Reporting Subcommittee and the Performance Reporting Subcommittee. Membership of the two subcommittees comprises members of the Audit Committee. These subcommittees meet approximately four times per year.
The appointment term of the Independent Management Assurer is to be agreed at time of appointment. The Independent Management Assurer will meet with the Consolidated Financial Statements Project Team to monitor the progress against the Consolidated Financial Statements Plan and risk management activities monthly from May, then fortnightly from August until Consolidated Financial Statements sign-off and meet with the Deputy Secretary, Governance and Resource Management Group to provide advice on the Consolidated Financial Statements production risks and progress as required.
Desired Skills and Attributes

To be considered for these important roles, applicants should submit their resume and a maximum of one page addressing the key selection criteria below:

Relevant qualifications and experience

Substantial experience in leading internal audit and risk in a complex regulatory environment
Substantial experience in a similar Audit Committee / Board Position
Applied understanding of contemporary governance and compliance challenges facing the Australian Public Service
Contemporary understanding of financial reporting and financial statement management
Contemporary understanding of cyber security risk management.
All Committee members are expected to understand and observe the legal requirements of the Public Governance Performance and Accountability (PGPA) Act 2013 and Rules.
Please indicate on your application which role(s) you are interested in applying for.

REMUNERATION

Remuneration for independent members is based on an individual’s role, experience and meeting attendance.

MORE INFORMATION
For further details on the key requirements of these roles, please contact Ian Nicholas, Assistant Secretary on (02) 6215 2895 (Audit Committee positions) or Angela Baum, Assistant Secretary on (02) 6215 3936 (Independent Management Assurer position) for a confidential discussion.

Additional information about membership of Commonwealth Audit Committees can be found at:

If you do not have internet access or are experiencing any difficulties lodging your application, please contact the Recruitment Team on (02) 6215 1717, option 1 or via email to .

ELIGIBILITY ADVICE & CANDIDATE NOTES

Under section 22(8) of the Public Service Act 1999, employees must be Australian citizens to be employed in the Australian Public Service (APS) unless the Agency Head has agreed otherwise, in writing.
Successful applicants will be required to undergo the process to obtain and maintain, or continue to hold the required security clearance level for the role as indicated in the downloadable job pack. All Finance staff are required to have a minimum baseline security clearance prior to commencement.