Internal Audit & Risk Manager at Chai Sacco Society

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.

Roles for the Internal Audit & Risk Manager Job

• Develop internal control measures and organize regular review of internal control measures
• Develop annual audit plans for approval by appropriate authority and ensuring that routine audits are carried out as per agreed plan.
• Ensure compliance with the laid down internal controls, all Sacco policies and other statutory requirements
• Develop risk and compliance framework on the Society’s overall risk management strategies and annual work plans.
• Conduct discussions with line Managers on commencement and completion of all audits.
• Check the soundness of accounting procedures and reliability of financial records and reports
• Carry out investigations in the Sacco as the need may arise
• Ensure compliance with the policies, plans, procedures, statutory requirements and regulations
• Safeguarding assets and, as appropriate, verify the existence of such assets by independently appraising the
• Ensure operations or programs are consistent with established objectives and goals and that the operations are being carried out as planned
• Liaise with external auditors to foster co-operation, reduce duplication of effort and ensure appropriate sharing of information
• Advise management on external audit queries
• Guarantees complete confidentiality of records and information obtained during the course of audit jobs.
• Carry out audits and investigations and recommend remedial actions as per operational procedures requirements.
• Develop and maintain a sound audit manual detailing audit practices, procedures and standards
• Determine the accuracy and reliability of accounting records by analyzing systems and internal controls.
• Ensure audit working papers are properly prepared, referenced, reviewed and documented systematically.
• Prepare management reports as required
• Supervising, training and appraising staff
• Participate in the preparation and implementation of the strategic plan
• Review and evaluate the financial controls, systems, procedures, books of account, financial statements and periodic financial reports
• Assist in coordinating the activities of the Audit and Supervisory committees in consultation with the office of the C.E.O
• Participating in preparation and implementation of the strategic plan

Internal Audit & Risk Manager Job Requirements

• Masters degree in Finance or related field
• A Business related degree.
• CPA (K) /ACCA Qualification
• Five (5) Years working in a Finance function with a minimum 4 years auditing experience in a senior position.
• Membership in a professional body
• CISA certification will be an added advantage
• 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 banking policies, processes, procedures and guidelines to consistently achieve required compliance standards or benchmarks.
• Organized; able to work both independently or 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.