Co-operative Bank Internal Auditor Jobs in Kenya
Our client, a medium sized Savings and credit Co-operative Society with its head office in Nairobi County and a membership spread across the country, seeks to recruit a suitably qualified person to fill the following position: Internal Auditor.
Reporting to the Chief Executive Officer administratively and to the Audit Board functionally, the internal auditor shall be responsible for coordination of the operations of the Internal Audit functions of the Society including:Reviewing the credibility and integrity of financial statements. In performing this function, the internal auditor shall;
Roles and Responsibilities
Ensure the financial statements of the Society have been prepared in accordance with the IFRS, IAS and the Sacco Societies Act. This will also ensure that all the disclosure requirements in accordance with the rules and regulations are also met.
Ensure that the loans of the Society are all documented and the necessary steps were followed in awarding the loans. The process of loan awarding should be professional.
Ensure that the fixed assets of the Society have been safeguarded, their physical condition is proper, they exist and they are correctly valued. This includes checking the physical presence, the depreciation policies and analyzing their effectiveness and whether they are properly insured.
Analyse the investments made by the Society to ensure that the investment policy was followed, the investments are safe, they don’t exceed such a proportion of the prudential standards that have been set and such investments have been made for the good of the Society.
Ensure that the information contained in the financial statements is complete and reliable for effective decision making.
The internal auditor checks that all activities done by the Sacco are in conformity with the existing laws and Regulations. This will entail the internal auditor ensuring that the Society does not contravene among others; The Cooperative Societies Act, the Sacco Societies Act, CBK Act, the labour laws, NSSF Act and other relevant Acts and laws.
Review the economic efficiency and effectiveness in the utilization of the Society resources so that its objectives are achieved.
The internal auditor will also review the adequacy, design and effectiveness of the Internal Control Systems. This will monitor the quality of such controls, detect any weakness and provide recommendation for improvement. To achieve this the internal auditor among others;
Will check on the organisation chart is well defined and the flow of authority is well documented. This assists one to track the responsibilities of different personnel in the Society and any right that may be granted in accordance with authority.
Analyse the accounting system being used by the Sacco and ensure one official cannot originate and complete a transaction. There should be a well-defined segregation of duties.
Ensure that the assets of the Society are all documented and they are well kept. Not all officials of the Society should be able to access its assets.
Ensure that every department in the Society has a policy on its functions; the policy should be complete and is followed in the day to day operations.
Assist the Board of Directors in the governance of the Society by advising on the direction in various issues. These may include;
Promote the ethics and culture of the Society so that the institution is held as member focused by concentrating on savings and credit facilities.
Ensure that the code of conduct is in place and its conditions are withheld.
Assisting the Board of Directors in laying down the strategic direction of the Society. This can be done by providing feedback on the limitations of the strategic plan.
The internal auditor shall act as a link between the external auditor and the supervisory committee of the Society. In the event the external audit is being performed, the external auditor analyses the work done by the internal auditor, mainly focusing on independence and integrity of the internal audit function so that they can place some reliance on its work.
Having fraud detection steps in audit programs; investigating allegations of fraud, and reviewing fraud prevention controls and detection processes put in place by management, making recommendations for improvement and on corrections or enhancements needed to maintain and improve effective and compliant operations.
Maintaining files and supporting documentation for audits and other assignments
Identifying and qualifying key business risks estimating the probability of occurrences and the impact on the Society and making appropriate recommendations
Any other lawful duties that may be assigned from time to time.
Appointment to the position will be made from persons who have:
Are holders of a Business related degree or its equivalent from a recognized university and CPA (K) or its equivalent or
Bachelor’s Degree and CPA (K) or its equivalent or CPA (K) and have satisfactorily served as an Accountant or Internal Auditor in the Society or a comparable position with similar responsibilities in a SACCO or in like organizations for a minimum period of 3 years.
CISA will be added advantage
Registered with ICPAK
3 years relevant experience
Skills and Attributes
Judgment and decision-making ability
Accuracy and attention to detail
Excellent communication and Interpersonal skills.
Excellent analytical and audit skills
Self-driven and work with minimal supervision
All risk analysis skills
Advanced report writing and presentation skills
Good IT skills and Proficient in Microsoft office suite
How to Apply
Download the attached online form (openable with Adobe Reader)
Must indicate the Job Reference Number on the application form Various/7/2018
Applications should be received not later than close of business 1st August 2018.
For more information and job application details, see; Co-operative Bank Internal Auditor Jobs in Kenya
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