Overall Purpose of The Job:
- The internal auditor, who reports to the audit committee, is responsible
for conducting detailed and continuous reviews of transactions and
performing risk-based internal audits.
- They are also responsible for ensuring the effectiveness and
efficiency of internal bank controls in line with the annual audit plan.
- Additionally, the internal auditor provides assistance with
other audit matters and projects.
Key Responsibilities
Management
- Prepares an annual audit program that provides strategic
guidelines for conducting audit reviews.
- Ensures thorough audit reviews and checks are carried out to
accurately capture the true position of the organization, including
incidents, operational failures, risk assessments, and recommendations.
- Engages with departmental heads to discuss audit findings and
agree on corrective actions for any issues that arise, as well as the
implementation of recommendations.
- Provides comprehensive internal audit reports to the board
audit committee, offering transparency on the bank’s operations.
- Coordinates the Central Bank’s onsite inspections for the bank
and ensures the implementation of recommended corrective measures in their
reports.
- Ensures that the external audit process is properly handled
and all required documentation is provided to the auditors.
- Ensures that the organizational chart is well defined and that
the flow of authority is well documented to track the responsibilities of
different personnel in the bank, as well as any rights that may be granted
in accordance with authority.
- Maintains files and supporting documentation for audits and
other assignments.
Risk Management
- Performs risk assessments, which involve identifying,
analysing, and estimating the level at which risks affect the business,
and provides risk aversion measures.
- Undertakes assignments on areas that may pose a risk to the
operations of the bank, as requested by the board, audit committee, and
management.
- Ensures fraud detection steps are in place to guide the
investigation of allegations of fraud, review fraud prevention controls,
and detection processes.
- Analyses the accounting system used by the bank and ensures
that one official cannot originate and complete a transaction.
- Ensures proper controls for access to bank assets.
- Recommends and assists in the development of infrastructural
support for Fraud Risk Management functions.
- Takes a proactive approach to Risk Management by proposing
additional or new mitigating measures to manage risks based on changing
trends and the landscape.
- Manages risk while achieving customer and shareholder
objectives by minimizing quality errors.
Compliance & Adherence
- Reviews the credibility and integrity of financial statements.
- Ensures that the financial statements of the Bank have been
prepared in accordance with the International Financial
- Reporting Standard (IFRS), International Accounting Standards
(IAS), and Microfinance Act.
- Ensures all disclosure requirements are met in accordance with
rules, regulations, policies, and procedures.
- Ensures all loans of the Bank are documented and awarded
following necessary steps.
- Ensures adherence and compliance to regulatory requirements
such as KRA returns and CBK reporting.
- Actively involved in the implementation process of IFRS 9
standard on loan loss provisioning and model building.
- Keeps abreast of changes to banking regulations and submits
recommended revisions to compliance audit programs.
Budget Preparation & Forecasting
- Participates in the annual budget preparation in line with the
institution’s strategic plan, performance, and general business
environment.
- Reviews the economic efficiency and effectiveness in the
utilization of the Bank’s resources to achieve its objectives.
Qualifications
- A Bachelor’s Degree in Commerce, Accounting, Finance or
Business Administration from a recognized university is required.
- In addition, candidates must hold a Certified Public
Accountant (CPA) (K) qualification or its equivalent from a recognized
institution.
- Experience in SASRA-regulated institutions is considered
advantageous.
- Proficiency in MS Office, accounting software and databases is
essential.
- Candidates should have a minimum of three (3) years of
hands-on experience in the audit function within a busy environment.
- Experience in a Microfinance Institution is considered
advantageous.
- It is desirable for candidates to be computer literate and
have hands-on experience with Computer-Assisted Audit Tools and Techniques
(CAATs).
- Candidates with additional professional qualifications such as
CISA and CIA will have an additional advantage.
How To Apply
Interested and qualified candidates are invited to
submit a cover letter and curriculum vitae, indicating their current and
expected remuneration package, to: careers@skillsglobal.co.ke by
02/07/2024 (Internal Auditor – Micro Finance Bank)
