Internal Auditor-Microfinance
A fast growing dynamic Micro finance institution, in the final stages of obtaining a deposit taking license from CBK to become a DTM, is seeking a competent, focused and results oriented officer.
They must be mature CPA graduates, able to lead a large team and have extensive auditing and accounting experience 10+ years preferably in a financial services and microfinance with proven track record.
This is not a full time position and the person is expected to work a maximum of ½ a day a week which is flexible and not more than 5 days in a month. The selected candidate has to be self driven and capable of managing their own schedules and obtain results as well as deliver expected outputs with no supervision.
The person will be reporting to the Board through the Director.
REQUIREMENTS
The selected candidate is expected to be fully familiar with the following:-
1. Audit charter and key components of one in a busy financial institution.
2. Compliance and Regulatory issues
3. IFRS and ICPAK accounting and audit guidelines relating to financial services in Kenya
4. Thorough understanding of operating and compliance aspects of financial institutions e.g. CAMEL, BASEL II etc.
The selected candidate will assist U& I Microfinance Ltd in detailed and continuous review both of a transactional and risk based internal audit of the company. She/he shall review transactions in all areas covering but not limited to:-
1. Accounting and Records
i. Routine financial transactions in the various ledgers
ii. Integrity of sampled records. The job holder will be expected to work their own program and in many cases do 100% sampling.
iii. Application of the materiality concept in various transactions
2. Financial Control
i. Review of variance Reports
ii. Review and authentication of Reconciliation reports
iii. Regular review of budgets
iv. Review of adherence to financial and accounting policies
i. Review of management cost control
3. Non Performing Loans
i. Review of the integrity of the loan approval process and transactions
ii. Review of the collection process
iii. Review of PAR Reports
4. Revenue and Cost Management
i. Review of revenue collection and accuracy
ii. Review of system leakages in revenue collection
iii. Review of cost management processes in place
5. Asset Management
i. Continuous review of Asset sweating and use
ii. Review of portfolio of assets and exposure levels
6. Regulatory and Compliance
i. Review of adherence to regulatory requirements including statutory remittances like PAYE, NHIF, NSSF, Corporation Tax, W/Tax etc
ii. Review of timely payments of rents, staff, and supplier payments
iii. Review of statutory submissions of returns to regulators e.g. CBK, Registrar of Companies
7. Risk management
i. Review of application of various Accounting Standards in Risk Management
ii. Review of asset quality, e.g. Loans, Investment portfolio etc.
iii. Review of processes on a continuous basis
iv. Review of ICT systems and the transactional processes
v. Review of COB and BCP processes monthly
vi. Review and detection/sealing of possible loopholes in fraud management
vii. Liaising with Credit Risk team to ensure no unnecessary exposure to possible bad debts
viii. Conducting Monthly and/or periodic cash checks
ix. Conducting Monthly and/or periodic customer visits
Applications to be submitted by e-mail not later than 31 August 2012, addressed to:
U&I is an equal opportunity employer and encourages diversity.
NOTE.
PLEASE COMPLETETHE ATTACHED APPLICATION FORM AND SEND TOGETHER WITH YOUR CV.
Because of the large number of applications that we receive we are only able to contact short-listed candidates
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