Internal Audit Officer at Mayfair CIB Bank Ltd

Role Description:

Reporting to the Manager – Internal Audit, the successful candidate will be responsible for providing innovative, responsive and effective value adding Internal Audit Services to the bank by assisting the Head of Audit and the Management in evaluating and recommending improvements in the effectiveness of enterprise risk Management, internal control systems and corporate governance.

Key Duties & Responsibilities:

• Ensure objective and professional evaluation of the Bank’s operations, compliance with CBK requirements and guidelines and assist the management in accomplishing their objectives.
• Review the bank’s processes, operational and financial information for assurance on the effectiveness of risk management, internal controls system and governance.
• Evaluate whether the Bank’s policies and procedures, and CBK prudential guidelines are being followed by all employees.
• Ensuring performance of quality audits and production of quality internal audit reports with practical and agreeable corrective actions and submit the reports to the audit manager.
• Follow up and escalate on all audit findings implementation for escalation as per the bank’s escalation matrix
• Carry out analytical reviews of the root-cause of the common/ recurrent audit findings and disseminate alerts and recommended solutions.
• Investigation of all attempted frauds and conduct forensic reviews as requested by Head of Audit/Audit manager.
• Operate within the budget for the department
• Recommend changes in policies and/or procedures to increase efficiency of operations and improve safeguards over the Bank’s assets.
• Perform financial, operational, and compliance audits in accordance with the internal audit program.
• Review bank practices and records for compliance with established internal policies and procedures including best practice
• Conduct follow-up reviews of financial, operational, or regulatory compliance deficiencies noted during audits.
• Conduct investigations of irregularities discovered by or brought to the auditor’s attention.
• Conduct full inspection of all branches and departments at least once in a financial year
• Conduct spot checks on high risk rated branches along with regular cash audits
• Review registers/schedules of regulatory returns to ensure the timely rendition of returns.
• Ensure Policy/Procedure/Regulatory Compliance across the bank and ensure that open items in the Bank’s GL accounts are current and valid
• Continuously assess financial reporting in the bank to give adequate assurance on the accuracy of financial reporting in compliance with the International Financial Reporting Standards, Generally Accepted Accounting Principles, CBK Prudential Guidelines and other accounting requirements.
• Make recommendation for policy amendments based on emerging issues/risks
• Conduct performance appraisals and ensure competency and training gaps are brought to the attention of the Head of Department.
• Perform any other duty as assigned in line with the organization goals and objective

Key Competencies:

Demonstrated knowledge and experience with;

• A minimum of Two (2) years’ experience in Audit in the banking sector
• Comprehensive understanding of Audit and Control in a Banking environment
• Knowledge of general banking practices and regulations in the country
• Knowledge of International Accounting and Reporting Best Practices
• Knowledge of CBK reporting requirements and repercussions for failure to comply
• Extensive knowledge of the Financial and Banking sector
• Extensive Fraud and Operational risk knowledge

Qualifications /Technical Skills Required:

• Minimum of bachelor’s degree in Accounting, Banking & Finance or related discipline.
• Professional qualifications e.g., CPA, ACCA & CIMA
• Dynamic, analytical and self-driven individual with the ability to work under pressure
• A passion for performance, team play and achievement in a competitive and dynamic environment
• Hardworking, strategically minded individual with excellent organizational and planning skills
• Excellent analytical skills
• Independent Minded and Analytical with superior auditing & investigation Skills
• Multi-Disciplinary and Multi-tasking disposition with a high retentive memory