Sacco Internal Auditor

Internal Auditor (REF: IA/06/24)

Reporting to: Audit Committee and CEO

Overall responsibility:

• To provide independent appraisal of all the SACCO activities by providing assurance, insight and objectivity into the Society operations.
• To examine and evaluate risk management framework, controls, and governance processes, to ensure they are adequate and functional.
• Proactively advising and recommending improvements on internal controls and risk management systems.

Main Duties and Responsibilities

• Develop the SACCO’s overall audit strategy, policies, procedures and programs to minimize current and future exposure to financial, operational or other business risks.
• Plan and monitor auditing of all functions to ensure compliance with the SACCO‘s policies, procedures and statutory requirements.
• Participate in the development and implementation of the Strategic plan.
• Maintain an audit risk profile for the SACCO and propose an annual programme of audit activities in conjunction with the relevant departmental heads.
• Undertake specific independent audit assurance e.g. post implementation reviews and major proposals. And any special investigations assigned by the CEO and/ or SACCO Board.
• Ensure that all instances of significant risk or lack of controls are properly identified, all findings are factual, risk focused, and the agreed actions are clear/understandable and practical.
• Make recommendations and contribute to the development of solutions to improve the internal control and operational environment based on the audit findings.
• Ensure audit clients provide action plans to address the control weakness for each issue raised in the audit report with timelines for implementation and clear ownership of action.
• Update the monthly report with the progress on implementation of high-risk audit actions and follow up with the audit client to drive quick resolution of the high-risk control weaknesses.
• Prepare report for management reporting on the progress of audit activity and tracking of action plans from audit clients.
• Quarterly audit reports to Management (thru’ the CEO) and to Risk and Audit Committee.
• Assist the board with governance of the Sacco by advising on the direction in various issues.
• Ensure that the internal audit activity maintains its independence and objectivity.
• Liaison with Supervisory committee and external auditors.

Knowledge: Qualifications & Experience

• Bachelor’s degree in finance or accounting.
• Master’s degree and Diploma in cooperative management and CISA is an added advantage.
• Professional accounting qualification CPA K / ACCA / ACA / CFA.
• Member of ICPAK or relevant professional body.
• Minimum eight (5) years’ relevant experience.
• Computer literacy.
• Experience in Sacco, bank and microfinance operations.
• Personal Attributes required for this role:
• Sound leadership skills.
• Attentive to details.
• Good communication and interpersonal skills.
• Systems audit experience.
• Works Independently with minimum supervision.
• Analytical and result oriented.
• A person of integrity.
• Good problem-solving skills.