Audit Associate at Kenya Orient Insurance Limited

Division / Department: Internal Audit

Immediate Supervisor: Audit Manager

Overall Responsibility: The position will perform the internal auditing activity and help the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.

Key Tasks, Duties and Responsibilities

Assist in identifying and investigating possible risk areas and reporting to management

Financial

• Assist in preparation of the annual budget for the department and ensure proper budgetary controls are in place.
• Assist in preparation & review of the Annual Audit plan.
• Assist in safeguarding the assets of the Company and carrying revenue assurance reviews.

Customer

• Work closely with all Departments and service centres within the company with a view to tapping on synergies;
• Establishment and maintenance of good business relationship with process owners and audit clients.
• Communicating effectively with a variety of stakeholders.
• Managing a variety of stakeholders and their expectations through regular communications and understanding of their needs.

Process

• Carry out routine audits and make necessary recommendations to Management.
• Carry out special investigations and make recommendations as necessary.
• Assist in systems review with a view to advising on areas that need to be strengthened.
• Assist in the review of internal procedures.
• Evaluating the company’s compliance program in terms of how well risk management is handled, information security and compliance exposures.
• Researching and assessing how well risk management processes are working and recording the results using software such as Microsoft Word and Excel.
• Performing risk assessments on key business activities and using this information to guide what should be covered in audits and tests to be deployed.
• Agreeing recommendations with relevant staff members to make improvements to operations and helping to secure backing for them in exit meetings.
• Preparing reports to highlight issues and problems and submitting quality and timely draft reports.
• Assessing how well the business is complying with rules and regulations and informing management of any issues that need addressing.
• Assisting in drafting MAPs for every completed audit/ review.
• Anticipating emerging issues through data and assessment.
• Carrying out follow up audits when they fall due.

Requirements

• Bachelor of Commerce Degree (Accounting Option) or any other relevant Degree. (A degree in Risk Management will be an added advantage)
• CPA (K), ACCA, CIA or any other recognized professional accounting qualification
• MBA will be an added advantage
• Minimum 2 years’ relevant working experience 1 of which should be in Internal Audit in a Financial Institution or in External Audit with a reputable audit firm.

Competencies & Skills

• Communication Skills – Job requires outstanding interpersonal and communications skills; ability to communicate effectively with technical and non-technical audiences.
• Industry Knowledge – Job requires strong knowledge of Specialty Lines
• Insurance / Reinsurance and expert knowledge of internal auditing, internal controls, risk management, and finance and accounting practices and methods.
• Interpersonal Skills-Must be sociable and engaging. Be able to quickly develop a rapport with customers.
• Must be well groomed and possess excellent office etiquette.