Audit and Risk Committee Independent Member

The OPFA is inviting applications from members of the public to serve on the ARC of the OPFA for a period of three (3) years. The overarching role of the ARC is to review monitor and advise the Accounting Authority on the adequacy and effectiveness of the OPFAs internal controls financial management reporting and risk management systems. This serves to ensure that the OPFA has sound governance and is compliant with applicable legal ethical and legislative prescripts. Some of the specific responsibilities of the ARC include:

Audit Committee matters:

• Review and provide advice to the Accounting Authority regarding the OPFAs statutory submissions in terms of applicable legislation.
• Provide oversight of the internal audit function by approving the internal audit plan and charter and enhance the effectiveness of the internal audit team.
• Oversee internal controls and risk management by evaluating the OPFAs internal financial control systems risk management and cybersecurity measures.
• Enhance financial reporting integrity through the review of annual and interim financial statements for accuracy and evaluation of significant judgments and accounting policies.
• Oversee the activities of external auditors to ensure objectivity and quality.
• Review and monitor the OPFAs compliance framework regarding legal/regulatory and policy requirements.
• Review and monitor the OPFAs processes to establish mechanisms to detect and investigate fraud and develop antifraud controls and whistleblowing policies.

Risk Committee matters:

• Review and recommend to the Accounting Authority the OPFAs risk appetite and tolerance levels.
• Review and oversee the development of the OPFAs risk management framework (risk management frameworks policies procedures and methodology).
• Provide advice to the Accounting Authority regarding the effectiveness and adequacy of the OPFAs risk management monitoring systems and controls to mitigate risk exposures.
• Review the effectiveness and adequacy of the OPFAs risk governance structures and capability to mitigate against risks related to ethics and compliance.
• Review monitor and advise the Accounting Authority about the OPFAs cybersecurity risk management and regulatory developments.
• Oversee the development and evaluation of the OPFAs cybersecurity internal controls policies and mitigation measures.
• Oversee and provide advice to the Accounting Authority about the OPFAs processes to develop strategies policies and risk profiles on the use of Artificial Intelligence including Generative AI.
• Review and provide advice to the Accounting Authority about the development of OPFAs crisis management and response strategies and coordination.
• Provide advice to the Accounting Authority about the OPFAs processes to proactively identify and assess emerging risks threats and opportunities.

Role overview of Members (key responsibilities):

• Prepare adequately for meetings.
• Attend scheduled and special committee meetings.
• Participate actively objectively and courageously in committee meetings and activities.
• Challenge and interrogate management assumptions and proposals.
• Adhere to the Committee Code of Conduct and other applicable policies of the OPFA.

• A relevant bachelors degree.
• A postgraduate degree in finance/accounting business administration Information and Communication technology Informatics governance law or administration and a Chartered Accountant (South Africa) qualification would be advantageous.
• At least 5 years of executive management business administration or governance experience.
• Previous experience serving on a board or committee of a public entity will be an added advantage.
• Membership in a relevant professional body is a minimum requirement. (e.g. Institute of Directors in South Africa Legal Practice Council South African Institute of Chartered Accountants Institute of Risk Management South Africa Institute of Internal Auditors South Africa etc.)
• Knowledge and understanding of the Public Finance Management Act 1999 (PFMA) Treasury Regulations the Companies Act King V principles on corporate governance and other relevant legislation and regulatory frameworks.
• Must not be a disqualified person as per Section 69 of the Companies Act 2008.

How to apply:

• Interested candidates must:
  • Visit our website on: a cover letter and a comprehensive resume.
  • Please submit documents in PDF format where possible.
• For enquiries: Please contactMs. Lulekwa Ngcwabe via email at

The OPFA is an equal opportunity organisation that promotes diversity and inclusion and persons living with disabilities are strongly encouraged to apply.

The OPFA reserves the right not to make an appointment. If you do not receive any response within 3 months of the closing date please accept that your application has been unsuccessful. Regret correspondence will only be sent to interviewed candidates. All costs associated with the application will be borne by the applicant. Late applications will not be considered.

In accordance with the Protection of Personal Information Act (POPIA) 4 of 2013:

All candidate personal information is treated with confidentiality and the highest level of security. Should you not be shortlisted for the vacancy that you have applied for OPFA will retain your information on our candidate database for a period of 12 months in the event that you may meet the criteria of a future suitable position which may match your profile and which we will contact you directly for your authorisation to proceed with your application. Should you wish to no longer be listed with us we will proceed to remove your personal information from our database with your instruction in accordance with the POPIA guidelines.