Career Opportunities at Nairobi Securities Exchange Limited

Overall Purpose

This role will provide the Audit, Risk and Compliance Committee with an objective and independent assurance and at the same time offer consulting role designed at adding value and improving the NSE’s operations.
The Director will be responsible for developing and implementing independent, systematic and objective audit reviews and programmatic evaluations of business policies, systems, processes and practices to assess the effectiveness of internal controls and degree of compliance as well as identifying organisational gaps & deficiencies, and ensuring that good corporate governance practices are implemented to enhance the NSE’s credibility and brand.

Key Duties and Responsibilities

1. Provide strategic and thought leadership in the development and implementation of internal audit strategies, policies and procedures to achieve the Exchange’s objectives;
2. Provide leadership, coordinate and supervise audit team to ensure implementation of audit plans as approved by the Audit, Risk & Compliance Committee including preparation of individual assignment audit plan;
3. Prepare risk based annual audit plans aligned to the Exchange’s objectives for continuous audit of the organisation’s risk management, internal controls, governance process and financial statements;
4. Ensure that NSE’s products and related processes meet the required standards, procedures, processes and contractual obligations by ensuring that routine audits are conducted;
5. Plan and ensure execution of system, financial, operational, compliance and management audits;
6. Prepare final reports, clear any audit queries with various Heads of Divisions/ Departments and the Chief Executive and circulate the same to the Audit, Risk & Compliance Committee;
7. Evaluate the adequacy of internal controls by conducting protective and constructive audits of controls mechanisms, financial records, administrative procedures, workflow process as well as MIS and security systems to ensure that all assets of the Exchange are properly accounted for ;
8. Analyse data and information from NSE divisions/ departments for evidence of deficiencies and weaknesses in internal controls, duplication of effort, extravagance, fraud or lack of compliance with approved policies and laws and regulations and vendor agreements; and
9. Establish and maintain good working relationships with all stakeholders to ensure that the audit issues and risks are being addressed and that expectations are being met or exceeded;

Minimum qualifications and desired skills

i) Bachelor’s degree in Accounting, Finance, Auditing or Business Administration from a recognized institution; a Master’s degree would be an added advantage.
ii) Professional qualifications such as CPA or ACCA;
iii) Other Professional qualification in audit, information systems, fraud and investigation e.g. CISA, CFE, CFA, CIA would be an added advantage.
iv) Must be a member of the Institute of Certified Public Accountants of Kenya (ICPAK) in good standing;
v) Minimum eight (8) years relevant professional experience in the areas of accounting, auditing, compliance supervisions and risk management gained from an organization with strong internal control frameworks, preferably within the financial services industry.
vi) In-depth knowledge of the International Financial Reporting Standards (IFRS), International Standards on Auditing (ISAs) and International Standards for Professional Practice of Internal Auditing is a must.

Key Competencies

i) Good knowledge of the Kenyan capital markets' systems, technology and risk framework
ii) Good knowledge & understanding of the capital markets regulatory framework
iii) Sound understanding and working knowledge of financial information systems e.g. ACCPAC or similar system
iv) Hands-on experience in carrying out information systems audits
v) Hands-on experience in the use CAATs (Computer Assisted Audit Techniques)
vi) Ability to provide timely and accurate information on matters related to audit without compromising the independence or objectivity of the risk management function
vii) Ability to maintain confidentiality of privileged information and to ensure absolute discretion and sensitivity to confidential matters

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Overall Purpose

This role will have an overall responsibility of managing the Corporate Enterprise Risk Management Framework.
Additionally, the individual will have the responsibility of ensuring that all operations and activities of the NSE and its staff are in compliance with all relevant laws, regulations and internal policies and procedures. This position is in the Legal & Corporate Affairs Division.

Key Duties and Responsibilities

To oversee the implementation and operationalization of the Risk Management Framework as well as identify and assess the risk elements facing the Exchange.
1. To embed and communicate the Exchange’s overall approach to operational risk management and to standardize the operational risk management process in the NSE and encourage improvement of risk management in NSE and create a risk sensitive framework to align capital more closely with underlying risks.
2. To put in place systems and checks that assist functional areas to monitor and manage risk and ensure that risks are contained within the risk tolerance levels.
3. To review risk management policies, procedures and controls & establish and implement an integrated framework for measuring and monitoring all aspects of risk across the Exchange.
4. To develop and maintain a risk template for data collection and to facilitate and oversee the implementation of the process of capturing risk data organization wide; and to collate and analyse the data collected for the purpose of establishing statistical trends and establishing risk capital requirements.
5. To create awareness & educate all staff on operational risk management thereby creating a strong culture of sound operational risk management.
6. To monitor compliance with all laws, regulations and statutory provisions applicable to the Exchange and prepare reports on the same for Management and Board consideration and follow up with relevant functions for adherence and remedial action in the event of a breach.
7. To develop and evaluate the self-testing compliance plans and results in conjunction with business and functional management teams.
8. To maintain on a regular basis a comprehensive compliance matrix
9. To perform on-going validations of the work performed by the various functional areas as relates to the Compliance Self-Assessment Program and the matrix to ensure compliance with business policies and adequacy of procedures.
10. To document, track and ensure implementation of all internal and external audit concerns raised by both internal and external auditors on compliance and risk management.
11. To perform any other duties as may be assigned from time to time.

Minimum qualifications and desired skills

(i) Bachelor’s degree in Economics, Finance, Law, Regulation, Compliance or Actuarial Science/Mathematics.
(ii) Relevant Professional training/certifications in Risk Management & Compliance.
(iii) Minimum four (4) years’ experience in Compliance and Risk Management gained from the financial services industry or from a big audit firm. Experience in the capital markets will be an added advantage.
(iv) Knowledge, experience and exposure to Capital Markets Laws, Regulations, Rules & Guidelines.
(v) Certification in Financial Modelling courses and Governance Auditing will be an added advantage.

Key Competencies

(i) A positive attitude and proper interpersonal skills coupled with good planning and organization skills.
(ii) Analytical skills, attention for detail and the ability to understand broad business issues.
(iii) Problem-solving and decision-making abilities.
(iv) Good communication and presentation skills.
(v) Ability to maintain confidentiality of privileged information and to ensure absolute discretion and sensitivity to confidential matters;
(vi) Ability to work collaboratively with a broad range of constituencies and diverse groups of people.