Internal Auditor

Position Summary:

The Internal Auditor is responsible for conducting independent audits to assess the effectiveness of internal controls, risk management, and compliance with SACCO policies and regulatory requirements. The role involves reviewing financial transactions, operational processes, and governance frameworks to identify risks, inefficiencies, and areas for improvement, ensuring the SACCO maintains financial integrity and operational efficiency. The Internal Auditor shall report to the Chief Executive Officer.

Key Duties and Responsibilities

1. Internal Audit Planning & Execution:

• Conduct risk-based internal audits in line with the approved audit plan.
• Assess the effectiveness of internal control systems, financial procedures, and risk management practices.
• Review and evaluate the adequacy of operational processes to ensure efficiency and compliance with policies.

 2. Financial & Operational Audits

• Examine financial statements, records, and transactions for accuracy and compliance with SACCO policies.
• Verify loan disbursements, repayments, and delinquency management processes to ensure compliance with credit policies.
• Evaluate procurement, asset management, and inventory controls to detect mismanagement or fraud.

 3. Compliance & Risk Management

• Ensure adherence to SACCO policies, regulatory requirements, and financial reporting standards.
• Identify potential risks, fraud, or operational inefficiencies and recommend mitigation measures.
• Conduct special audits and investigations as directed by the Head of Audit.

4. Fraud Detection & Prevention

• Assess internal processes to identify potential fraud risks and control weaknesses.
• Investigate suspected fraudulent activities and report findings to the Head of Audit.
• Recommend improvements to fraud prevention mechanisms.

 5. Reporting & Documentation

• Prepare audit reports detailing findings, recommendations, and corrective actions.
• Provide audit updates to the Head of Audit on emerging risks and compliance gaps.
• Maintain accurate audit records and ensure proper documentation for audit trail purposes.

 6. Support External Audits & Regulatory Reviews

• Assist external auditors by providing necessary financial records and explanations.
• Ensure timely implementation of audit recommendations from both internal and external audits.
• Coordinate with regulators and other oversight bodies on compliance matters.

 7. Advisory & Process Improvement

• Recommend best practices to improve financial and operational controls.
• Work with departments to enhance compliance, efficiency, and risk management.
• Provide guidance on policy interpretation and internal control improvements.

 8. Other Duties

• Conduct continuous audits to assess the effectiveness of corrective actions taken.
• Stay updated on changes in audit regulations, financial laws, and best practices.
• Perform any other duties as assigned by the Head of Audit to support the SACCO’s audit function.

Necessary Qualifications and Skills:

Qualifications:

1. Bachelor’s degree in Accounting, Finance, Auditing, Business Administration, or a related field.
2. CPA (K), ACCA, or CIA (Certified Internal Auditor) certification is required.
3. Membership in a recognized professional body such as ICPAK or IIA (Institute of Internal Auditors) is an added advantage.
4. Certification in Risk Management or Forensic Auditing is an added advantage.

 Skills and Attributes:

1. Strong analytical and investigative skills for identifying financial discrepancies and fraud.
2. Deep understanding of internal controls, risk assessment, and audit procedures.
3. Knowledge of SACCO regulations, IFRS, and audit standards.
4. Ability to provide independent and objective audit opinions.
5. High ethical standards, integrity, and confidentiality in handling sensitive information.
6. Strong report writing and presentation skills.
7. Proficiency in financial systems, audit software, and Microsoft Office Suite.

Experience:

Minimum of 3 years of experience in auditing, risk management, or compliance, preferably in a SACCO, banking, or financial institution.

How to Apply

Send a Cover Letter and detailed Curriculum Vitae (CV) to recruitment.eastafrica@amsco-africa.com indicating your current and expected salary and state the Job Title as the subject.