Director of Internal Audit at Umwalimu SACCO:(Deadline:16-08-2022)

JOB TITLE

KNOWLEDGE, SKILLS AND EXPERIENCE REQUIRED

Key Result Areas

DIRECTOR OF INTERNAL AUDIT 

Reports to: Supervisory Committee

Age Limit: 45

• Being a Rwandan by Nationality;
• Having a Bachelor degree in business administration, Management, Economic or Finance
•  Having CPA (R)/ACCA qualification;
• Experience: 3 years’ experience at similar position level or 5 years’ experience in auditing at managerial level;

Skills&knowledge

• Advanced computer skills-MS Office, excel, SQL Server
• Thorough knowledge of financial services finance industry policies and industry development
• Thorough knowledge of financial and regulatory requirements as relates to Financial institutions
• Accounting principles and procedures including International Accounting standards and auditing standards and best practice from relevant institutions such as Rwanda Accountants Institute guidelines
• Up to date knowledge of internal audit issues and trend especially risk based internal audit
• Ability to institute new, revolutionary ways of strategic business approaches, risk management and control practices.
• Able to act independently, efficiently and effectively manage their time.
• Leadership capabilities
• Sound judgement and decision making ability
• Good knowledge of the organization;
• Strong Analytical skills;
• Report writing and presentation skills.
• Advanced communication skills
• Investigation and probing skills
• Knowledge of relevant laws including the Companies Act

Key responsibilities

• Develop policy, procedure and systems for the department, including documentation where necessary, participate in revision of operations, accounting, procurement, HR and MIS manuals in order to ensure adherence to Sacco policy, statutory requirements and reporting requirements
• provide leadership and ensure provision of sound financial management in compliance with Central Bank of Rwanda(BNR) and all applicable regulations;
• Demonstrate strategic thinking for the formulation of the overall business strategy and ensure the organization remains on track for the achievement of financial targets.
• Continuously improve financial management practices and grow business, working within the resources and agreed budgets;

• Direct and control all internal audit staff to ensure that they are appropriately motivated and trained and carry out their responsibilities to the required standards.
• Develop and implement an annual audit plan to ensure that the organization complies with financial and statutory regulations and standards
• Work with Finance and ICT, Business development and operations Credit administration, HR, Legal and Administration departments in reviewing systems and establishing appropriate controls and procedures where they may not exist
• Ensure a process for controlling transactions and processes to ensure that these comply with policy, statutory and reporting requirements
• Carry out regular and surprise inspections of all processes, policies and procedures, ensuring that they comply with statutory requirements and best practices guidelines as may be prescribed from time to time by local and global organizations such as the Banking regulations, prudential guidelines as they may be applicable
• Regularly inspect Sacco records and transactions and evolve scrutiny methodology that ensures compliance and sets standards to be adhered to for such from time to time
• Prepare internal audit, quality assurance and inspection reports and present those to the Board’s finance and Audit Committee, clearly indicating how these fit into the overall business/Sacco strategy and ensure implementation of any actions agreed.
• Maintain a working relationship with external auditors to ensure that they have all the information they might require.
• Carry out ad hoc audit reviews to investigate any areas identified by management.
• Keep abreast with latest developments in the finance, banking, audit   and accounting fields with a view to enhancing internal audit function as a key contributor to Sacco strategy.
• Performing  any other duty as may be assigned by the Supervisor

• Audit system compatible with organization’s growth
• Adherence to internal controls across the organization
• Timely and accurate audit and risk reports
• Key strategic initiatives undertaken
• Risk report with proposed action plan
• Report on productivity and efficiency with recommendation on areas of cost savings and improvements.
• Quarterly reports on quantifiable/verifiable achievements