Assistant Manager Internal Audit Job in Kenya

JOB PURPOSE

The job holder will be responsible for providing an independent, objective assurance on the adequacy and effectiveness of the bank’s governance, risk management, compliance, and internal control environment. He/she will lead and oversee the planning, execution, reporting, and follow-up of complex audit assignments in line with IIA Standards, CBK Prudential Guidelines, and the bank’s internal audit methodology. Support the Audit Manager in managing the audit function, coordinating engagements, reviewing audit deliverables, and driving continuous improvement across audit processes and tools.

KEY RESPONSIBILITIES

Audit Planning

Lead comprehensive, risk-based planning for assigned audits by analyzing enterprise risks, regulatory expectations, historical audit results, emerging risks, and strategic priorities.
Define audit objectives, scope, and detailed test procedures that directly address inherent, residual, and emerging risks, ensuring alignment with the annual audit plan.
Conduct in-depth process understanding through walkthroughs, data analysis, policy reviews, and stakeholder interviews to identify control gaps or vulnerabilities early.
Determine the appropriate audit approach, sampling methodology, nature, timing, and extent of testing using risk-based and data-driven criteria.
Assess resource needs, develop audit budgets and timelines, and ensure team members are properly briefed and prepared prior to fieldwork.

Audit Execution

Lead, supervise, and mentor audit teams during fieldwork, ensuring adherence to audit standards, methodology, and quality expectations.
Evaluate the design, implementation, and operating effectiveness of controls across operational, financial, ICT, credit, market, liquidity, strategic, and compliance processes.
Apply strong analytical techniques including root cause analysis, data analytics, trend analysis, and control effectiveness validation.
Review working papers for completeness, accuracy, and sufficiency of evidence to support audit conclusions and risk ratings.
Ensure timely escalation of significant issues, control failures, fraud indicators, or regulatory non-compliance identified during fieldwork.
Maintain high-quality documentation that meets internal quality assurance requirements and is defensible to internal and external reviewers.

Audit Reporting, Monitoring & Follow-Up

Prepare high-impact, concise, and well-supported audit reports that clearly articulate issues, underlying root causes, associated risks, and practical recommendations.
Present audit findings confidently to departmental heads, senior management, and governance committees where required.
Track and monitor management action plans, validate remediation, and perform follow-up reviews to ensure the effectiveness and sustainability of corrective actions.
Identify recurring issues across departments and proactively recommend systemic or enterprise-wide interventions to strengthen controls.
Prepare periodic updates, audit status reports, and emerging risk summaries for the Audit Manager and relevant stakeholders.
Support and lead special reviews, fraud investigations, system audits, and ad-hoc assignments as delegated.

Risk & Compliance

Provide independent and objective assurance on the effectiveness of the bank’s risk management, compliance, and governance frameworks.
Evaluate the adequacy and operating effectiveness of controls in key risk areas and across risk types (credit, operational, ICT/cybersecurity, AML/CFT/CPF, regulatory).
Review and challenge the quality, completeness, and accuracy of risk assessments, KRIs, RCSAs, and mitigation plans developed by business units and second-line functions.
Test compliance with relevant laws, regulatory requirements, CBK guidelines, internal policies, and industry best practices.
Document and escalate control weaknesses, non-compliance, unethical conduct, and emerging risks promptly and in accordance with escalation protocols.
Provide advisory insight on new regulatory developments and business initiatives while preserving audit independence.
Engage regulators and external auditors in coordination with the Audit Manager to support supervisory reviews, inspections, and audits.
Maintain up-to-date professional knowledge on emerging risks, regulatory trends, and financial crime typologies.

DECISION MAKING AUTHORITY

Determine the audit approach, depth of testing, and sampling strategies for assigned engagements based on risk assessment and professional judgment.
Evaluate the adequacy and effectiveness of internal controls and assign issue ratings consistent with the bank’s methodology and regulatory expectations.
Decide whether sufficient and appropriate evidence has been obtained to support audit conclusions and issue closure.
Recommend improvements and control enhancements aligned with business realities and regulatory requirements.
Approve working papers and draft reports prepared by team members prior to management review.
Escalate material risks, control failures, fraud indicators, or non-compliance without delay.
Exercise sound judgment in balancing audit rigor, business impact, and operational practicality.

ACADEMIC BACKGROUND

Bachelor’s degree in Accounting, Finance, Business Administration, Economics, Information Systems, or a related field from a recognized institution.

WORK EXPERIENCE

Minimum 5 years’ progressive internal audit, risk management, or assurance experience in a financial institution or similar high-control environment.
Demonstrated experience leading complex audits, supervising audit teams, and dealing with senior management and regulators.
Proven exposure to banking operations, credit processes, digital banking, financial crime risk, ICT audits, and regulatory compliance.
Experience in using audit management systems and data analytics tools is an added advantage.

SKILLS & COMPETENCIES

Advanced analytical, critical thinking, and problem-solving capabilities.
Strong report-writing and communication skills with the ability to articulate complex issues clearly.
High professional skepticism, attention to detail, and ability to challenge effectively.
Strong interpersonal and negotiation skills for engaging stakeholders at various levels.
Demonstrated ability to supervise teams, coach staff, and review work to ensure quality.
Time management, multitasking ability, and capacity to manage tight deadlines.
Ability to travel and work across multiple locations as needed.
High integrity, discretion, and adherence to ethical standards.