Internal Audit Manager at Kenya Mortgage Refinance Company (KMRC)

Purpose of the Job

The position is responsible for Support, executing audit engagements within specified time to accomplish the internal audit plan ensuring reliability and integrity of information and compliance with policies.

Duties and Responsibilities

The duties and responsibilities are as follows:

• Managerial Roles and Responsibilities:
  • Develop internal control measures and organize regular review of internal control measures;
  • Assist in preparation of system and financial audit programmes and carrying out routine audit within the Company’s operations and activities;
  • Recommend systems of internal controls and checks to ensure the company is compliant to all the set regulations and mitigate risks;
  • Prepare and submit quarterly performance report with evidence of performance to the Board of Directors;
  • Check the soundness of accounting procedures and reliability of financial records and reports;
  • Implement the recommendations of the external auditors;
  • Carry out audit investigations, undertaking financial, operational and investigative audits;
  • Assist in designing, developing and updating the internal audit manual detailing audit plans;
  • Prepare audit reports, queries and observations;
  • Facilitate the periodic review of internal control systems to ensure their adequacy to prevent errors and irregularities;
  • Carry out a review of accounting, financial and budgetary systems;
  • Ascertain compliance with established, policies, plans, procedures and processes in the Company;
  • Review and appraise the soundness, adequacy and application of accounting financial and other operating controls and promoting effective controls;
  • Identify and document value add audit findings for discussion with management and eventual inclusion in the audit reports;
  • Discuss the audit findings with the auditors and agree on appropriate actions for improvement to the noted short falls;
  • Track the agreed actions and verify they have been implemented before closing the audit findings;
  • Maintain continuous contact with the business units and where appropriate assist in addressing any emerging risks;
  • Develop audit programs and testing procedures relevant to risk and test objectives;and
  • Check monthly and final financial statements to ascertain their accuracy and completeness;
• Operational Roles and Responsibilities
  • Develop and maintain a 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;
  • Determine the accuracy and reliability of accounting records by analysing systems and internal controls;
  • Ensure audit working papers are properly prepared, referenced, reviewed and documented systematically;
  • Prepare management reports as required;
  • 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; and
  • Assist in coordinating the activities of the Audit, Risk and Compliance committee in
  • consultation with the office of the CEO
• Perform any other duties as may be assigned from time to time

Key Result Areas:

The jobholder’s accountability areas are outlined as follows:

• Effective operational cost control and resource utilization
• Timely implementation of control standards for services offered by the department
• Effective supervision of employees assigned to the department
• Enhance productivity in the department
• Continuous process improvement of services offered by the department
• Ensure customer satisfaction for the consumers of the services offered by the department
• Ensure compliance to audit regulations and procedures
• Ensure internal checks and balances in the Company’s finances
• Ensure security of the existing financial systems
• Development of Annual Audit Plan
• Development of a schedule to meet the Operating Audit Plan