The Internal Auditor conducts investment and asset management audits, requiring a Bachelor’s in Finance/Accounting/Economics, CPA-K/CIA/ACCA/CIFA certification, 4+ years audit experience (2+ years in asset management audit and 2+ years Big 4), and Big 4 experience. Full-time role in Nairobi.
About the Role
Reporting to the Internal
Audit Manager, the role holder will be responsible for providing independent,
objective assurance and advisory services on the adequacy and effectiveness of
governance, risk management and internal control processes for CIC Asset
Management Limited (CICAM) across the Group
Key Responsibilities
Audit
planning, execution and reporting
Develop
and execute risk-based audit programmes covering asset management and
investment activities.
Conduct
end-to-end audits of investment portfolios, investment products, fund
management and investment operations.
Identify
root causes of investment control weaknesses, regulatory breaches and
operational risks.
Prepare
clear, evidence-based audit reports with practical recommendations and
management action plans.
Present
significant investment audit findings and risk exposures to the Internal Audit
Manager and / or Director, Internal Audit.
Monitor
implementation of audit recommendations and conduct regular follow-up reviews.
Provide
independent advisory input on new investment products, investment platforms and
changes in investment management processes.
Investment
portfolio management and oversight
Audit
investment portfolio management activities, including asset allocation,
investment selection and portfolio rebalancing.
Evaluate
compliance with approved investment strategies, investment mandates, and
investment policy statements.
Review
investment decisions to establish whether they are supported by appropriate
research, financial analysis, due diligence and authorized approvals.
Assess
compliance with investment limits, asset allocation thresholds, concentration
limits and regulatory investment restrictions.
Audit
investment portfolios comprising equities, government securities, corporate
bonds, money market instruments, deposits, collective investment schemes and
other alternative investments, as applicable.
Review
portfolio performance measurement, benchmark selection, investment returns,
yields and attribution analysis.
Assess
the adequacy of monitoring and escalation of investment performance deviations
and portfolio breaches.
Regulatory
compliance
Audit
compliance with the Capital Markets Act and applicable CMA regulations,
guidelines, circulars and directives.
Assess
compliance with applicable requirements governing fund managers, investment
advisers, collective investment schemes and alternative investment funds, as
relevant.
Review
regulatory capital, financial resource and prudential requirements, where
applicable.
Audit the
preparation, accuracy and timely submission of regulatory returns.
Assess
compliance with requirements relating to client asset protection, custody
arrangements, segregation of client funds and investor disclosures.
Review
regulatory inspections, compliance findings, breaches and implementation of
corrective actions.
Assess
the effectiveness of controls over regulatory change management.
Investment
risk management and governance
Assess
the effectiveness of the investment risk management framework and compliance
with approved risk appetite.
Review
the governance and effectiveness of the Investment Committee and other
investment oversight structures.
Evaluate
the adequacy of investment policies, procedures, delegated authorities and
approval frameworks.
Review
portfolio stress testing, scenario analysis, liquidity management and
investment risk reporting.
Assess
monitoring of counterparty exposures, credit risk and portfolio concentration.
Requirements
Essential
Knowledge/Skills and Experience Required:
Bachelor’s
degree in Finance, Accounting, Economics, Investment Management, Actuarial
Science or a related discipline
Professional
Qualifications
Candidates
must possess at least one of the following:
Certified
Public Accountant (CPA-K).
Certified
Internal Auditor (CIA).
Association
of Chartered Certified Accountants (ACCA).
Certified
Investment and Financial Analyst (CIFA)
Additional
qualifications in Financial Risk Management (FRM), Information Systems Auditing
(CISA) or Risk Management Assurance (CRMA) will be an advantage.
Membership
to a professional body will be an added advantage.
Experience
Required:
Minimum
of 4 years of relevant professional experience, with at least 2 years of direct
experience in auditing asset management, investment management, fund management
or investment operations and 2 years’ experience in the big 4 audit firms.
Practical
exposure to auditing investment portfolios and investment transactions.
Demonstrable
understanding of financial markets and investment products.
Insurance
Professional Qualification is desirable.
