KEY RESPONSIBILITIES
Managerial Responsibilities
Provide strategic direction in the Internal Audit and Risk Assurance function of the Company.
Develop systems for the evaluation of financial, information systems and operational procedures to ensure adequate internal controls are present.
Develop, document, implement, test and maintain a comprehensive internal audit plan to ensure compliance with applicable laws, regulations, and the Company's policies and procedures.
Develop and document systems for reviewing and monitoring the Company's risk management system and make appropriate recommendations for improvements based on industry best practices.
Ensure sound practices in internal audit/risk management that conform to international best practice, International Professional Practices Framework (IPPF), International Financial
Reporting Standards (IFRS), International Audit Standards (IAS) and the Retirement Benefits Authority (RBA) Act 2007.
Ensure a competent and motivated internal audit team through quality hiring, training and evaluating of staff; and taking corrective actions to address performance gaps.
Provide sound leadership and supervision to the staff in the department.
Prepare comprehensive internal audit draft annual budgets.
Ensure compliance with the approved budget including prudent and timely spending.
Ensure timely reporting of the department's performance.
Ensure sound systems, policies and procedures for effective functioning of the department are in place.
Operational Responsibilities
Develop NYANDAWAS Internal Audit Charter and review it regularly.
Regularly perform risk exposure assessments.
Act as Secretary to the Audit, Risk and Governance Committee of the Board.
Act as a link between the external auditors and the internal audit function and the Company as a whole.
Follow up on recommendations given by external audit team and other regulatory bodies.
Oversee the preparation of audit reports with relevant recommendations.
Prepare annual audit schedules, programs and annual internal audit plan (risk-based audits) aligned to the threats and risks identified in the strategic plan - to ensure the company achieves its strategic goals and objectives.
Determine that all operations carried out at NYANDAWAS are in conformity with existing laws and regulations, and internal policies and procedures and are consistent with both institutional objectives and good business practices.
Lead in conducting risk-based audits and prepare appropriate recommendations on minimization of risks to safeguard NYANDAWAS's assets.
Carry out systems audits of all departments and appraise the application and adequacy of accounting, financial, procurement, IT and other controls.
Review the credibility and integrity of financial statements by ensuring that they have been prepared in accordance with the relevant Regulations.
Ensure that noncurrent assets of NYANDAWAS have been safeguarded, their physical condition is proper, they exist and they are correctly valued.
Ensure that the information contained in the financial statements is complete and reliable for effective decision making.
Review the economic efficiency and effectiveness in the utilization of NYANDAWAS resources to achieve its objectives.
Review the adequacy, design and effectiveness of the Internal Control Systems to monitor the quality of such controls, detect any weakness and provide recommendation for improvement through analysis of the accounting system to ensure that security levels are well guarded.
Identify and qualify key business risks estimating the probability of occurrences and their impact on NYANDAWAS and make appropriate recommendations.
Train employees and members of the Board on the roles of effective internal Audit.
Evaluation of strategic plan in terms of performance achieved (half yearly).
Undertake continuous professional development to keep up with current industry trends.
Undertake any other duties as may be assigned.
REQUIREMENTS FOR APPOINTMENT
Bachelor's degree in Finance or Accounting or any related business field.
Full professional qualification in either CPA (K), ACCA, CISA or CIA.
Member of ICPAK or CIA with a good standing.
At least 3 years' experience in a senior management position.
Proficiency in ICT with strong MS office and internet ability.
Excellent planning and organizational skills.
Strong analytical skills.
Excellent communication skills.
Strong leadership skills.
Good interpersonal relations skills.
Problem solving skills.
Successful Candidate must satisfy the requirements of chapter six of the constitution of Kenya on Leadership and integrity through provision of; -
Current certificate of good conduct from Directorate of Criminal Investigation Department.
Current Tax compliance certificate from Kenya Revenue Authority.
A clean and current report from an approved credit reference Bureau (CRB).
Clearance from the Ethics and Anti-Corruption Commission (EACC).
Clearance Certificate from Higher Education Loans Board (HELB).