Internal Audit, Risk And Compliance Manager at Co-operative Bank of Kenya

Purpose of the Job: 

To continuously ensure internal control systems, risk management, good governance and compliance to regulations, procedures and policies are in place with a view to minimize risk exposure for utilization of the Sacco assets and other resources.

Roles and Responsibilities

Operational Roles and Responsibilities

• Develop annual audit plans for approval by the Sacco Board and ensuring that routine audits are carried out as per agreed plan.
• Ensure compliance with the laid down internal controls, all Sacco policies and other statutory requirements and regulations.
• Develop risk and compliance framework on the Society’s overall risk management strategies and annual work plans in consultation with the management.
• Conduct discussions with line Managers on commencement and completion of all audits.
• Check the soundness of accounting procedures and reliability of financial records and reports.
• Carry out investigations in the Sacco as the need may arise.
• Safeguarding the Sacco assets by regular verification of the existence of such assets.
• Evaluate and confirm whether operations or programs are consistent with established objectives and goals and that the operations are being carried out as planned.
• Liaise with management to foster co-operation to ensure appropriate sharing of information.
• Advise management on external audit queries.
• Guarantees complete confidentiality of records and information obtained during the course of audit jobs.
• Carry out audits and investigations and recommend remedial actions as per operational procedures requirements.

Managerial Roles and Responsibilities

• Develop and maintain a sound audit manual detailing audit practices, procedures and standards.
• Determine the accuracy and reliability of accounting records by analyzing systems and internal controls.
• Ensure audit working papers are properly prepared, referenced, reviewed and documented systematically
• Prepare management reports for the Audit Committee 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.
• Provide secretariat and coordination of the activities for the Audit and Supervisory Committees in liaison 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 utilization of resources
• Compliance to policies, procedures, standards and controls
• Costs control
• Risk management and safety of assets
• Compliance to safety regulations and procedures
• Ensure internal checks and balances in the Sacco’s finances
• Security of the existing financial systems

Qualifications & Experience 

Education and Professional Qualification

• A Degree in finance or related field.
• Master’s degree in Commerce, Business Administration, Finance, Accounting or any other relevant field of study will be an added advantage.
• CPA – K/ACCA qualification.
• Five (5) years working experience in a finance function with a minimum 3 years auditing experience in a senior position in a Deposit Taking Sacco.
• Membership in a professional body with good standing.
• CISA certification.

Skills Required

• A firm understanding of internal auditing standards
• Able to integrate understanding of industry trends and vulnerabilities to identify future possibilities, opportunities and risks.
• Knowledge and application of Internal Audit standards in financial services industry.
• Proactively review and recommend security quality improvements in line with technological and product changes.
• Ability to understand and document workflows and business processes.
• Knowledge and effective application of all relevant Sacco policies, processes, procedures and guidelines to consistently achieve required compliance standards or benchmarks.
• Organized; able to work both independently and in a team setting.
• Ability to identify solutions that effectively address business and control needs.
• Interpersonal skills to effectively communicate audit results to functional heads and other stakeholders.
• Self-empowerment to enable development of open communication, teamwork and trust that are needed to support true performance.

Successful applicant will be required to meet the requirements of Chapter 6 of the Constitution of Kenya by submitting the following documents:

• Tax compliance certificate from the Kenya Revenue Authority (KRA).
• Police clearance certificate (Certificate of Good Conduct).
• Clearance certificate from the Ethics and Anti-Corruption Commission (EACC).
• Clearance certificate from Higher Education Loan Board (HELB).
• Clearance certificate from Credit Reference Bureau (CRB).