Job Description
Chai SACCO Society Ltd is a leading Savings and Credit Co-operative Society Ltd with fully
fledged Branches in Nairobi, Mombasa, Litein, Nkubu, Kisii and satellite offices in
Olenguluone, Silibwet, Othaya,, Kangari, Kapsabet, Nyamira & Kutus. We are looking for selfdriven and result oriented person to fill the following position.
INTERNAL AUDIT AND RISK MANAGER
1. Job Profile
a. Job Title: Head of Internal Audit and Risk
b. Status 3 Years Contract (Renewable on performance)
c. Duty Station Headquarters
d. Reporting to CEO and Audit Committee
e. Division/Department Internal Audit and Risk
f. Directly Supervises Senior Internal Audit Officer
2 Purpose of the Job
Continuously ensure internal control systems, risk management and governance, procedures
and policies with a view to minimize risk exposure for utilization of assets and other resources.
3. Duties and Responsibilities
I. Operational Roles and Responsibilities
i. Develop internal control measures and organize regular review of internal control
measures.
ii. Develop annual audit plans for approval by appropriate authority and ensuring that
routine audits are carried out as per agreed plan.
iii. Ensure compliance with the laid down internal controls, all Sacco policies and other
statutory requirements and regulations.
iv. Develop risk and compliance framework on the Society’s overall risk management
strategies and annual work plans.
v. Conduct discussions with line Managers on commencement and completion of all
audits.
vi. Check the soundness of accounting procedures and reliability of financial records and
reports.
vii. Carry out investigations in the Sacco as the need may arise.
viii. Safeguarding assets and, as appropriate, verify the existence of such assets by
independently appraising the Sacco operations to ensure assets are safeguarded.
ix. Ensure operations or programs are consistent with established objectives and goals and
that the operations are being carried out as planned.
x. Liaise with internal auditors to foster co-operation, reduce duplication of effort and
ensure appropriate sharing of information.
xi. Advise management on external audit queries.
xii. Guarantees complete confidentiality of records and information obtained during the
course of audit jobs.
xiii. Carry out audits and investigations and recommend remedial actions as per operational
procedures requirements
II. Managerial Roles and Responsibilities
i. Develop and maintain a sound audit manual detailing audit practices, procedures and
standards.
ii. Determine the accuracy and reliability of accounting records by analyzing systems and
internal controls.
iii. Ensure audit working papers are properly prepared, referenced, reviewed and
documented systematically.
iv. Prepare management reports as required.
v. Supervising, training and appraising staff.
vi. Participate in the preparation and implementation of the strategic plan.
vii. Review and evaluate the financial controls, systems, procedures, books of account,
financial statements and periodic financial reports.
viii. Assist in coordinating the activities of the Audit and Supervisory Committees in
consultation with the office of the CEO
III. 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
4. Job Specifications
a. Education
• A master’s in finance or related field
• A Bachelor’s degree in Finance or related field
• CPA – K/ACCA /CIA Qualification
• CISA certification
• Membership of a professional body
b. Skills Required
• Able to integrate understanding of industry trends and vulnerabilities to identify
future possibilities, opportunities and risks.
• Proactively review and recommend security quality improvements in line with
technological and product changes.
• A firm understanding of internal auditing standards.
• Knowledge and application of modern Internal Audit Standards in financial services
industry.
• Ability to understand and document workflows and business processes.
• 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.
• Unquestionable integrity, credibility, and character.
• Strong visionary with proven leadership qualities
c. Minimum Experience Required
• Five (5) years working experience in a finance function with a minimum 4 years
auditing experience in a senior position.