Internal Auditor at Umba

The Internal Auditor is responsible for independently assessing the effectiveness of internal controls, risk management, and governance processes across all departments of the bank. This role ensures compliance with regulatory requirements, identifies operational and financial risks, and provides recommendations to enhance efficiency, accuracy, and integrity of operations.
Responsibilities
Audit Planning & Execution

• Develop and execute a risk-based internal audit plan aligned with the bank’s strategic and regulatory objectives.
• Conduct audits in departments such as Finance and Operations, Credit, Business    Development, Risk and Compliance, HR, and ICT.
• Evaluate the effectiveness of financial systems, internal controls, and business processes.
• Assess compliance with internal policies, procedures, and industry best practices.

Audit Reporting

• Prepare detailed audit reports highlighting findings, risks, and areas of non-compliance.
• Recommend corrective actions to strengthen internal controls and mitigate risks.
• Present audit findings to senior management and the Audit Committee.
• Monitor implementation of audit recommendations to ensure timely resolution.

Risk Assessment

• Conduct ongoing risk assessments across departments.
• Identify and evaluate potential operational, financial, and compliance risks.
• Ensure the bank’s risk response and mitigation strategies are adequate and effective.

Compliance Monitoring

• Assess compliance with regulatory requirements, including CBK, AML, KYC, and data protection regulations.
• Conduct spot checks, and internal reviews to detect compliance breaches.
• Work closely with the Compliance Officer to identify and address compliance gaps.

 Internal Control Testing

• Test and review the bank’s internal controls including authorization procedures, segregation of duties, and access controls.
• Identify weaknesses and propose enhancements to improve control environments.
• Evaluate IT controls related to data protection, cybersecurity, and system integrity.

Process Improvement

• Identify process inefficiencies and recommend improvements to enhance effectiveness.
• Support departments in implementing improved controls and streamlined processes.
• Contribute to the development of Standard Operating Procedures (SOPs).

Qualifications & Experience

• Bachelor’s degree in Accounting, Finance, Business, or a related field.
• Professional certification such as CPA, CIA, CISA, ACCA (required or in progress).
• Minimum 5 years’ experience in internal audit, preferably in the financial services sector.
• Strong knowledge of internal controls, banking operations, risk management, and regulatory requirements.
• Familiarity with CBK prudential guidelines and audit software tools is an added advantage.