Head of Internal Audit at Tausi

Ref: TAS/HR/RK/ADV/2944/2020

Job Overview: To provide independent, objective assurance and advice designed to add value and improve the organizations operations while focusing on internal control systems, risk management framework and governance.

To provide the Board of Directors and MD assurance of the effective implementation of all internal control measures and procedures.

To strictly comply with IRA guidelines on functioning of the Internal Audit department.

Responsibilities

• Developing risk based annual audit plans detailing the scope, nature and timing of audit activities for board audit committee approval.
• Reviewing and conducting internal audits in accordance with the audit plan to assess the adequacy, effectiveness and efficiency of the established internal controls and procedures.
• Discussing the audit findings and recommendations with Heads of departments and agree on the best, practical and applicable recommendations for implementation.
• Ensuring that the agreed audit recommendations are implemented by management within the agreed timeline.
• Liaise with the Managing Director and the Heads of Departments in the review of weak internal controls and policies in all the departments for effective operations.
• Ensuring implementations of Board Audit committee’s resolutions by the management.
• Reviewing the Company`s financial statements prepared by the accounts department to ensure they reflects a true and fair view of the company.
• Planning and conducting special audit assignments as directed by the Board Audit Committee and Managing Director.
• Perform audit procedures to give assurance on effectiveness and efficiency of control environment, and compliance to the Company policies and Insurance Regulatory Authority (IRA) Prudential guidelines.
• Documents the results of audit work in accordance with internal audit guidelines and the Institute of Internal Auditors (IIA) standards.
• Liaising with external auditors, special auditors, investigators, police, EACC etc. on investigation matters when required.
• Follow up to ensure that the refunds are approved and processed within 7 days as per RMF.
• Providing strong leadership and supervision to the staff in the department.
• Performing any other audit related tasks that may be required of you from time to time

Qualifications

• Must have a degree in Bachelor of Commerce or Business related degree or such other degree qualification as shall be acceptable to the Audit Committee.
• Must be a Certified Public Accountant (K) and a member of ICPAK.
• Must be a member of the IIA.
• At least 5 years minimum experience in similar position.

Skills and Competencies

• Should have knowledge of the standards for the professional practices of Internal Auditing of the Institute of Internal Auditors and application of the same.
• Should have an understanding of the risks in the insurance industry, Insurance laws, practices and regulatory requirements in Kenya.
• Should have an understanding of the operational and accounting aspects of insurance products and services.
• Should possess strong communication (both oral and written) skills.
• Should possess strong interpersonal skills.
• Should have the ability to manage and motivate staff.
• Should have an open and objective mind to improve the organization (add value).
• Should have an understanding of IRA guideline on risk management and internal controls.