Internal Auditor – Micro Finance Ban
Overall Purpose of The Job:
- The internal auditor, who reports to the audit committee, is responsible for conducting detailed and continuous reviews of transactions and performing risk-based internal audits.
- They are also responsible for ensuring the effectiveness and efficiency of internal bank controls in line with the annual audit plan.
- Additionally, the internal auditor provides assistance with other audit matters and projects.
Key Responsibilities
Management
- Prepares an annual audit program that provides strategic guidelines for conducting audit reviews.
- Ensures thorough audit reviews and checks are carried out to accurately capture the true position of the organization, including incidents, operational failures, risk assessments, and recommendations.
- Engages with departmental heads to discuss audit findings and agree on corrective actions for any issues that arise, as well as the implementation of recommendations.
- Provides comprehensive internal audit reports to the board audit committee, offering transparency on the bank's operations.
- Coordinates the Central Bank's onsite inspections for the bank and ensures the implementation of recommended corrective measures in their reports.
- Ensures that the external audit process is properly handled and all required documentation is provided to the auditors.
- Ensures that the organizational chart is well defined and that the flow of authority is well documented to track the responsibilities of different personnel in the bank, as well as any rights that may be granted in accordance with authority.
- Maintains files and supporting documentation for audits and other assignments.
Risk Management
- Performs risk assessments, which involve identifying, analysing, and estimating the level at which risks affect the business, and provides risk aversion measures.
- Undertakes assignments on areas that may pose a risk to the operations of the bank, as requested by the board, audit committee, and management.
- Ensures fraud detection steps are in place to guide the investigation of allegations of fraud, review fraud prevention controls, and detection processes.
- Analyses the accounting system used by the bank and ensures that one official cannot originate and complete a transaction.
- Ensures proper controls for access to bank assets.
- Recommends and assists in the development of infrastructural support for Fraud Risk Management functions.
- Takes a proactive approach to Risk Management by proposing additional or new mitigating measures to manage risks based on changing trends and the landscape.
- Manages risk while achieving customer and shareholder objectives by minimizing quality errors.
Compliance & Adherence
- Reviews the credibility and integrity of financial statements.
- Ensures that the financial statements of the Bank have been prepared in accordance with the International Financial
- Reporting Standard (IFRS), International Accounting Standards (IAS), and Microfinance Act.
- Ensures all disclosure requirements are met in accordance with rules, regulations, policies, and procedures.
- Ensures all loans of the Bank are documented and awarded following necessary steps.
- Ensures adherence and compliance to regulatory requirements such as KRA returns and CBK reporting.
- Actively involved in the implementation process of IFRS 9 standard on loan loss provisioning and model building.
- Keeps abreast of changes to banking regulations and submits recommended revisions to compliance audit programs.
Budget Preparation & Forecasting
- Participates in the annual budget preparation in line with the institution's strategic plan, performance, and general business environment.
- Reviews the economic efficiency and effectiveness in the utilization of the Bank's resources to achieve its objectives.
Qualifications
- A Bachelor's Degree in Commerce, Accounting, Finance or Business Administration from a recognized university is required.
- In addition, candidates must hold a Certified Public Accountants (CPA) (K) qualification or its equivalent from a recognized institution.
- Experience in SASRA-regulated institutions is considered advantageous.
- Proficiency in MS Office, accounting software and databases is essential.
- Candidates should have a minimum of three (3) years of hands-on experience in the audit function within a busy environment.
- Experience in a Microfinance Institution is considered advantageous.
- It is desirable for candidates to be computer literate and have hands-on experience with Computer-Assisted Audit Tools and Techniques (CAATs).
- Candidates with additional professional qualifications such as CISA and CIA will have an additional advantage.
Deadline: 02/07/2024
Senior Accountant – Sacco
Job Summary
- We are seeking a highly motivated and experienced Senior Accountant to join our team!
- Reporting to the Head of Finance, you will play a vital role in ensuring the efficient running of the Finance department and
- managing our financial resources.
- This includes producing accurate and timely financial reports, preparing and reviewing SACCO budgets, overseeing costing
- processes, and maintaining the SACCO's books of accounts.
Key Responsibilities
- Collect and consolidate financial reports from accountants, aligning them with financial policies and strategies.
- Review and assign daily accounting tasks to department staff.
- Analyze SACCO financial reports and ensure adherence to budgets.
- Oversee and review branch financial reconciliations, developing required reports.
- Assist the Head of Finance in cash flow management planning.
- Prepare reports for overall financial department management and departmental interactions.
- Develop and maintain annual and periodic SACCO budgets.
- Generate timely management accounts and financial reports.
- Prepare annual financial statements and facilitate external audits.
- Manage fixed asset records, ensuring accountability and coordinating with users.
- Disseminate financial reports to departments, branches, and management for informed decision-making.
- Perform other duties as assigned.
Qualifications
- Professional accounting qualification (CPAK) or equivalent.
- Bachelor's degree in Commerce/Accounting or equivalent.
- Proficiency in all MS Office applications and practical knowledge of accounting software.
- Excellent team player with strong leadership, analytical, communication, and decision-making skills.
- Minimum five (5) years' experience in a similar position.