Job Description
Job Title: Audit & Risk Manager
Reporting to: Chairman – Audit & Risk BOARD Committee with a dotted line to the Chief Executive Officer
Department: Audit & Risk
Location: Nairobi
Grade: Band 2
Position Summary
You will be responsible for conducting independent, impartial, and objective internal audit exercise and liaise with External Auditors during Interim and Final Audits, analyze business policies, processes, procedures, and ensure compliance.
Main Responsibilities
· Analyze and verify financial statements of the SACCO are prepared in accordance with IFRS, IAS and the SACCO Societies Act to meet the disclosure requirements in accordance with prevailing rules and regulations.
· Audit to determine sufficiency of documentation of the credit processes to advise if the necessary steps are followed.
· Review existence of fixed assets of the SACCO, audit to confirm they have been safeguarded, in proper physical condition, and they are correctly valued.
· Analyze investments made by the SACCO to ensure that the investment policy has been adhered to, SACCO investments are safe, don’t exceed such a proportion of the prudential standards that have been set and are made for the good of the SACCO.
· Audit all operations of the SACCO, review controls, evaluate their adequacy and functionality.
· Review the economic efficiency and effectiveness in the utilization of the SACCO resources so that its objectives are achieved.
· Develop annual audit plans for approval by appropriate authority and ensure that routine audits are carried out as per agreed plan.
· Provide appropriate risk assessments, profile, make appropriate recommendations and update and maintain the SACCO risk register.
· Conduct discussions with Line Managers on commencement and completion of all audits.
· Monitor compliance with policies, plans, procedures, statutory requirements, and regulations.
· Liaise with external Auditors to foster co-operation, reduce duplication of effort, and ensure appropriate sharing of information.
· Analyze the SACCO accounting system and ensure one official cannot originate and complete a transaction, monitor, and implement well-defined segregation of duties.
· Analyze and review implementation of business policies, processes, procedures and ensure compliance.
· Assist the BOARD with governance of the SACCO by advising on the direction in various issues.
· Develop, implement, and maintain sound audit manual detailing audit practices, procedures, and standards.
· Review automated audit work papers prepared by the audit staff to ensure sound audit theory and compliance with the department’s methodology.
· Prepare management reports as required.
· Participate in the preparation and implementation of the Strategic Plan.
· Assist in coordinating the activities of Audit and Risk and Management Committee in consultation with the office of the Chief Executive Officer.
· Perform any other responsibility assigned.
Knowledge: Qualifications & Experience
· Bachelor’s degree in finance or accounting.
· Master’s degree and Diploma in cooperative management and CISA is an added advantage.
· Professional accounting qualification CPA K / ACCA / ACA / CFA.
· Member of ICPAK or relevant professional body.
· Minimum eight (8) years’ relevant experience.
· Computer literacy.
· Experience in Sacco operations.
Personal Attributes required for this role:
· Sound leadership skills
· Attentive to details.
· Good communication and interpersonal skills
· Systems audit experience
· Works Independently with minimum supervision.
· Analytical and result oriented.
· A person of integrity
· Good problem-solving skills.
Key Relationships:
Direct Reports to this Role:
· Internal Audit Officer
Internal Contacts:
· All department
External Contacts:
· Government Regulators
· External Auditors
· Vendors
· Members