Head of Internal Audit

JOB OBJECTIVES

• Systematically evaluate the framework for internal control, risk management, regulatory compliance, corporate governance, policies and procedures of the Bank to ensure that the operations of the Bank are carried out in a safe and effective manner.

DUTIES & RESPONSIBILITIES

• Develop a flexible annual audit plan using an appropriate risk-based methodology, including any risks or control concerns identified by management, and submit that plan to the Board, through the BAC, for review and approval, and provide periodic updates on the audit plan to the BAC.
• Implement the annual audit plan as approved, including as appropriate, any special tasks or projects requested by management and the audit committee.
• Review systems and operations to assess the extent to which organizational objectives are achieved and the adequacy of controls in the Bank
• Conduct periodic audit reviews on all operating systems, software, hardware, network and various application systems.
• Issue periodic reports to Executive Management and to the Board, via the BAC summarizing results of audit activities. Recommend improvements in procedures and systems to prevent fraud and reduce cost.
• Keep the Board Audit Committee informed of emerging trends and developments in internal auditing practices and give recommendations for necessary revisions in Internal Audit Charter and Internal Audit Manual.
• Carry out any ad hoc appraisals, inspections, , examinations or reviews requested by the Executive Management Committee or Board Audit Committee/ Board of Directors
• Advise on appropriate systems of controls and other accounting and operational matters in an advisory capacity.
• Maintain an efficient working relationship with relevant regulatory bodies within the country
• Maintain a professional audit staff with sufficient knowledge, skills, experience and professional certifications to meet the requirements of the Audit Charter
• In collaboration with HR, recruit, develop and retain personnel with appropriate skills, knowledge, experience and professional certifications to provide credible assurance services to the business.

KEY PERFORMANCE INDICATORS

• Variance between planned and actual audit
• Timely rendition and quality of reports
• Exceptions/fraud/irregularities detected and undetected
• Extent of recovery of fraud loss
• Creation of fraud awareness/education through sensitization memos
• Savings per fraud/irregularities detected/prevented
• Zero tolerance for income loss.
• Achievement of cost savings and earnings target generated on account of process or activity improvement recommendations by Internal Audit resulting in efficiency
• Zero External Auditors & Examiners’ major exceptions (rated medium to high risks) not previously identified and resolved by Internal Audit

JOB REQUIREMENTS

Education Qualifications

• Minimum of a Bachelor’s degree (or equivalent) in Accounting, Banking & Finance or related discipline with a professional qualification in e.g. (CPA/ACCA & CIMA)

Work Experience Requirements

• Minimum of 6 years’ cognate experience, with at least 3 years in a managerial capacity

KEY COMPETENCY LIST

• Analytical with auditing & investigation Skills
• Accounting Skills
• Operations (Domestic, Foreign & treasury) Skills
• Comprehensive Capital Market Operations Skills. General multi Corporate Finance and Financial Strategy Skills
• Fraud and Operational risk knowledge
• Comprehensive Credit Skills.
• Oral and written Communication Skills
• Banking, Insurance, Capital Markets, Trusteeship, Pension Fund and financial services product knowledge.
• Policy and Regulatory Interpretation skill and Implementation capability
• Extensive Working Knowledge of Microsoft word, Excel and power point and Intranet Mailing facility
• Conceptual Skills

REPORTING RELATIONSHIPS

• Functionally reports to: Board Audit Committee
• Administratively reports to: Managing Director/Chief Executive Officer & Regional Assurance Manager, East & Southern Africa Region