- Execute the annual Control Plan by performing Second Level Control testing to provide an overall assessment of the first level control framework, design, and operating effectiveness:
- Analyze and challenge first level managerial controls and extending progressively to other core operational controls, procedures, risk governance, and KRIs.
- Review the controls set up and documentation to ensure mitigation of the identified risk
- Challenge the assigned operational risk taxonomy category
- Test the control execution by reperforming the control
- Review anomalies and associated action plans
- Assess the appropriateness of the control framework
- Identify and propose remedial actions to improve control design or execution (focusing by priority on key weaknesses).
- Prepare a report summarizing the results and findings of each second level control testing for the management of the Business Unit/Service Unit.
- Discuss results and findings with relevant stakeholders including the business or function being tested.
Ensure findings are properly escalated and that related remedial actions are monitored and adequately implemented in a timely fashion