Job Description
JOB TITLE: Internal Audit, Risk & Compliance Manager
Job Ref No: IARCM/ASSL/APRIL 2022
Tenure of service: 3 Years Contract (Renewable on performance)
Duty Station: The Sacco offices situated next to Kenya Airports Authority (K.A.A) Headquarters, Nairobi
Reporting to: The Board’s Audit Committee (Administratively responsible to the CEO)
Department: Internal Audit, Risk & Compliance
Purpose of the Job: To continuously ensure internal control systems, risk management, good governance and compliance to regulations, procedures and policies are in place with a view to minimize risk exposure for utilization of the Sacco assets and other resources.
Operational Roles and Responsibilities
1. Develop annual audit plans for approval by the Sacco Board and ensuring that routine audits are carried out as per agreed plan.
2. Ensure compliance with the laid down internal controls, all Sacco policies and other statutory requirements and regulations.
3. Develop risk and compliance framework on the Sacco’s overall risk management strategies and annual work plans in consultation with the management.
4. Conduct discussions with line Managers on commencement and completion of all audits.
5. Check the soundness of accounting procedures and reliability of financial records and reports.
6. Carry out investigations in the Sacco as the need may arise.
7. Safeguarding the Sacco assets by regular verification of the existence of such assets.
8. Evaluate and confirm whether operations or programs are consistent with established objectives and goals and that the operations are being carried out as planned.
9. Liaise with management to foster co-operation to ensure appropriate sharing of information.
10. Advise management on external audit queries.
11. Guarantees complete confidentiality of records and information obtained during the course of audit jobs.
12. Carry out audits and investigations and recommend remedial actions as per operational procedures requirements.
Managerial Roles and Responsibilities
1. Develop and maintain a sound audit manual detailing audit practices, procedures and standards.
2. Determine the accuracy and reliability of accounting records by analyzing systems and internal controls.
3. Ensure audit working papers are properly prepared, referenced, reviewed and documented systematically.
4. Prepare management reports for the Audit Committee as required.
5. Participate in the preparation and implementation of the strategic plan.
6. Review and evaluate the financial controls, systems, procedures, books of account, financial statements and periodic financial reports.
7. Provide secretariat and coordination of the activities for the Audit and Supervisory Committees in liaison with the office of the CEO.
8. Perform any other duties as may be assigned from time to time.
Key Result Areas
The jobholder’s accountability areas are outlined as follows:
• Effective utilization of resources
• Compliance to policies, procedures, standards and controls
• Costs control
• Risk management and safety of assets
• Compliance to safety regulations and procedures
• Ensure internal checks and balances in the Sacco’s finances
• Security of the existing financial systems
Job Specifications
Education and Professional Qualification
• A Degree in finance or related field
• Master’s degree in Commerce, Business Administration, Finance, Accounting or any other relevant field of
study will be an added advantage.
• CPA – K/ACCA qualification
• Membership in a professional body with good standing
• CISA certification
Skills Required
• A firm understanding of internal auditing standards
• Able to integrate understanding of industry trends and vulnerabilities to identify future
Possibilities, opportunities and risks
• Knowledge and application of Internal Audit standards in financial services industry
• Proactively review and recommend security quality improvements in line with technological and product changes
• Ability to understand and document workflows and business processes.
• Knowledge and effective application of all relevant Sacco policies, processes, procedures and guidelines to consistently achieve required compliance standards or benchmarks
• Organized; able to work both independently and in a team setting
• Ability to identify solutions that effectively address business and control needs
• Interpersonal skills to effectively communicate audit results to functional heads and other Stakeholders
• Self-empowerment to enable development of open communication, teamwork and trust that are needed to support true performance.
Minimum Experience Required
Five (5) years working experience in a finance function with a minimum 3 years auditing experience in a senior position in a Deposit Taking Sacco.
Successful applicant will be required to meet the requirements of Chapter 6 of the constitution of Kenya by submitting the following documents:
a. Tax Compliance for year 2021 from Kenya Revenue Authority (KRA).
b. Current Certificate of Good Conduct from the Directorate of Criminal Investigations.
c. Clearance certificate from the Ethics & Anti-Corruption Commission (EACC).
d. Clearance certificate from Higher Education Loan Board (HELB).
e. A report from an approved Credit Reference Bureau (CRB).