Internal Audit Manager Job (200-250K)

Audit Jobs. Kenya Medical Association Sacco Jobs

**Reports to: Supervisory Committee / Board Audit & Risk Committee

Administratively reports to: Group Chief Executive Officer (GCEO)

Direct Reports: Internal Auditor(s) /Audit Assistants

Employment Type: Permanent and Pensionable, subject to satisfactory performance and compliance with SACCO policies.

Industry: Financial Services

Location: Upperhill, Nairobi

Gross Salary: Ksh 200,000 – 250,000**

Job Purpose

To provide independent, objective assurance and advisory services designed to add value and improve the operations of the SACCO by evaluating and improving the effectiveness of risk management, internal controls, governance processes, regulatory compliance, and operational efficiency in line with the Sacco Societies Act, SASRA Regulations, International Standards for the Professional Practice of Internal Auditing (IIA Standards), and the SACCO’s policies and procedures.

Summary of the General Nature and Level of The Job

The Internal Audit Manager is responsible for developing and implementing a risk-based internal audit framework covering all SACCO operations, subsidiaries, systems, products, and processes. The role provides assurance to the Board and Supervisory Committee on the adequacy and effectiveness of governance, risk management, financial controls, ICT controls, compliance mechanisms, and operational procedures.

The position requires a highly analytical, independent, ethical, and strategic professional capable of safeguarding members’ assets, enhancing accountability, strengthening internal controls, and ensuring regulatory compliance.

Key Duties and Responsibilities

The Internal Audit Manager shall:

• Develop and implement annual risk-based audit plans;
• Conduct financial, operational, compliance, ICT, forensic, and investigative audits;
• Evaluate adequacy and effectiveness of internal controls;
• Assess compliance with:Sacco Societies Act;SASRA Regulations;Co-operative Societies Act;AML/CFT requirements;Data Protection Act;Tax laws;Employment laws;Prudential standards;SACCO policies and procedures;
• Review reliability and integrity of financial and operational information;
• Evaluate governance structures and enterprise risk management practices;
• Monitor implementation of audit recommendations;
• Investigate fraud, irregularities, and control breaches;
• Provide independent reports to the Supervisory Committee and Board;
• Support continuous improvement of operational efficiency and risk management.

Audit Planning and Execution

• Develop annual and periodic risk-based internal audit plans for approval by the Supervisory Committee and Board.
• Conduct regular audits of:Credit operations and loan portfolio;Recoveries and collections;Treasury and liquidity management;Finance and accounting operations;Procurement and stores;ICT systems and cybersecurity;Human resource and payroll;Branch and member services operations;Subsidiaries and investment activities;Regulatory compliance areas.

• Perform surprise audits and spot checks.
• Review adequacy and effectiveness of internal controls.
• Evaluate reliability and integrity of financial and management information.
• Assess efficiency and effectiveness of operational processes.

Governance, Risk and Compliance

• Evaluate compliance with SASRA Regulations and Governance Guidelines.
• Assess implementation of Board resolutions and policies.
• Review effectiveness of enterprise risk management frameworks.
• Monitor compliance with Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) requirements.
• Evaluate adequacy of ICT controls, business continuity, disaster recovery, and cybersecurity frameworks.
• Review adherence to procurement policies and procedures.
• Assess legal and regulatory compliance risks.

Reporting and Advisory

• Prepare audit reports with findings, recommendations, and management action plans.
• Present audit findings to Management, Supervisory Committee, and Board Committees.
• Follow up implementation status of agreed audit recommendations.
• Provide advisory support on internal controls, governance, and risk management.
• Prepare quarterly and annual audit reports for Board consideration.

Fraud Risk Management and Investigations

• Conduct investigations into suspected fraud, unethical conduct, irregularities, and policy violations.
• Recommend corrective and preventive actions.
• Support whistleblowing investigations and ethical compliance initiatives.

Leadership and Departmental Management

• Supervise Internal Audit staff and coordinate departmental activities.
• Develop departmental work plans and budgets.
• Mentor and build capacity of audit staff.
• Promote a culture of accountability, integrity, and compliance within the SACCO.

Relational Responsibilities

• Maintain independence and objectivity in all audit activities;
• Provide professional advisory services without compromising audit independence;
• Promote ethical conduct and sound governance practices.

Qualifications

• Bachelor’s degree in: Accounting, Finance, Auditing, Commerce, Business Administration, or related field from a recognized institution.
• Must possess any of the following: CPA(K), CIA, ACCA, CISA (added advantage), CRISC/CISM/CISSP (added advantage)
• Registered member in good standing with: ICPAK, IIA Kenya, ISACA, or relevant professional body.
• Minimum of seven (7) years relevant audit experience, three (3) of which must be at supervisory or management level in: SACCOs, Financial institutions, Banking, Microfinance, Insurance, or regulated financial sector.
• Demonstrated experience in:Risk-based auditing;ICT audits;Regulatory compliance;Fraud investigations;Governance and risk management.

Required Competencies and Skills

Technical Competencies

• Internal audit methodologies;
• Risk management frameworks;
• Financial analysis;
• ICT audit and cybersecurity awareness;
• Regulatory compliance;

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