Internal Audit Officer – Internal Audit at Sidian Bank

JOB PURPOSE

Provide independent and objective assurance on the adequacy and effectiveness of the Bank’s governance, risk management, compliance, and internal control framework through the execution of risk-based internal audit engagements. Conduct audit planning, fieldwork, reporting, and follow-up activities in accordance with the Institute of Internal Auditors (IIA) Standards, CBK Prudential Guidelines, applicable laws and regulations, and the Bank’s Internal Audit methodology.

KEY RESPONSIBILTIES 

Audit Planning

• Participate in planning assigned risk-based audit engagements in accordance with the approved annual audit plan.
• Obtain an understanding of audited processes through walkthroughs, document reviews, data analysis, and stakeholder discussions.
• Identify key risks, controls, and applicable regulatory requirements to support the development of audit programs.
• Develop audit procedures and testing approaches that adequately address identified risks and audit objectives.
• Prepare audit planning documentation in accordance with the Bank’s audit methodology and quality standards.

Audit Execution 

• Execute audit procedures to assess the design and operating effectiveness of internal controls across operational, financial, credit, treasury, ICT, digital banking, compliance, and other business processes.
• Perform substantive and control testing using risk-based auditing techniques, data analytics, and professional judgment.
• Analyse audit evidence to identify control weaknesses, process inefficiencies, regulatory breaches, and emerging risks.
• Apply analytical techniques including trend analysis, root cause analysis, and exception analysis to support audit conclusions.
• Escalate significant control deficiencies, suspected fraud, regulatory breaches, or other material issues promptly through established reporting channels.
• Maintain complete, accurate, and well-supported audit working papers that comply with internal quality assurance requirements and professional standards.

Audit Reporting, Monitoring & Follow-up 

• Prepare clear, concise, evidence-based audit findings and recommendations for inclusion in audit reports.
• Discuss audit observations with process owners to validate factual accuracy before report finalization.
• Monitor implementation of agreed management action plans and perform follow-up reviews to verify effective remediation of audit issues.
• Document the status of outstanding audit issues and provide updates to Audit Management.
• Support special audits, investigations, regulatory reviews, and other assignments as directed.

Risk & Compliance

• Assess the adequacy and effectiveness of internal controls supporting the Bank’s governance, risk management, and compliance processes.
• Evaluate compliance with applicable laws, CBK Prudential Guidelines, internal policies, procedures, and regulatory requirements.
• Assess controls over key risk areas including credit, operational, ICT/cybersecurity, AML/CFT/CPF, financial reporting, and regulatory compliance.
• Identify and communicate control deficiencies, regulatory breaches, unethical practices, and emerging risks identified during audit engagements.
• Provide objective audit observations and practical recommendations to strengthen internal controls while maintaining auditor independence.
• Maintain current knowledge of regulatory developments, emerging risks, auditing standards, and industry best practices.

DECISION MAKING AUTHORITY

• Determine the audit procedures and testing techniques required to achieve assigned audit objectives within the approved audit methodology.
• Evaluate the sufficiency, reliability, and relevance of audit evidence to support audit conclusions.
• Exercise professional judgment in assessing control effectiveness and the significance of audit observations.
• Recommend audit findings, risk ratings, and corrective actions for supervisory review.
• Recommend closure of audit issues after validating implementation of agreed corrective actions.
• Escalate significant control failures, suspected fraud, or material regulatory breaches promptly in accordance with established escalation protocols.

ACADEMIC BACKGROUND

• Bachelor’s degree in Accounting, Finance, Business Administration, Economics or a related discipline from a recognized institution.

WORK EXPERIENCE

• Minimum of three (3) years’ progressive experience in Internal Audit, External Audit, Risk Management, Compliance, or Assurance within a financial institution or other highly regulated environment.
• Demonstrated understanding of banking operations, credit processes, treasury operations, digital banking, financial crime risk, and regulatory compliance.
• Experience using audit management systems and data analytics tools such as TeamMate, ACL, Power BI, SQL, or equivalent will be an added advantage.

SKILLS & COMPETENCIES

• Strong analytical, critical thinking, and investigative skills.
• Excellent report writing, communication, and presentation skills.
• Sound understanding of risk-based auditing principles and internal control frameworks.
• High level of professional skepticism, objectivity, and attention to detail.
• Ability to analyse complex business processes and identify root causes of control weaknesses.
• Strong interpersonal skills with the ability to build effective working relationships while maintaining independence.
• Good planning, organisational, and time management skills with the ability to manage multiple assignments.
• Proficiency in Microsoft Office applications and data analysis tools.
• High ethical standards, integrity, confidentiality, and professional conduct.
• Willingness to travel to branches and other Bank locations as required.

PROFESSIONAL CERTIFICATION

• CPA (K) or ACCA mandatory.
• CIA, CISA, CRMA, CFE, or equivalent certification is a strong advantage.