Head of Internal Audit

To provide independent and objective assurance on the effectiveness of the Bank's governance, risk management, internal controls and operational processes. The Head of Internal Audit will provide the Board and Management with evidence-based assessments of the Bank's control environment, identify weaknesses and emerging risks,investigate suspected control failures or fraud, and monitor the implementation of agreed corrective actions.

The role must maintain appropriate independence from all operational and management responsibilities.

Key Responsibilities

• 1. Internal Audit Strategy and Planning

• Develop

• a risk-based annual internal audit plan for approval by the Board of Audit Committee.

• Conduct

• periodic risk assessments to identify areas requiring audit attention.

• Align

• audit coverage with the Bank's strategic objectives, risk profile,

• regulatory requirements and emerging risks.

• Review

• and update the audit plan where significant changes in the Bank's risk

• environment occur.

• Maintain

• appropriate audit methodologies, procedures and documentation.

• 2. Financial and Operational Audits

• Conduct

• independent reviews of the Bank's financial and operational processes.

• Audit

• cash operations, vault controls, teller activities and cash movements.

• Review

• customer account opening, KYC documentation and transaction processing

• controls.

• Audit

• credit files, loan approval processes, documentation, disbursement and

• portfolio controls.

• Review

• reconciliations, suspense accounts, expenses, procurement and payment

• processes.

• Assess

• compliance with approved policies, delegated authorities and internal

• procedures.

• 3. Treasury and Investment Audit

• Audit

• treasury transactions from initiation through authorization, confirmation,

• settlement and accounting.

• Review

• compliance with approved counterparty, investment, tenor, concentration

• and liquidity limits.

• Test

• segregation of duties between treasury dealing, approval, confirmation,

• settlement and accounting.

• Review

• treasury reconciliations and maturity records.

• Identify

• unauthorized, unusual or inadequately controlled treasury transactions and

• escalate appropriately.

• 4. Technology and Digital Audit

• Review

• the effectiveness of IT general controls, access management and system

• security.

• Audit

• digital banking channels, technology processes and relevant third-party

• integrations.

• Review

• user access rights, privileged access and segregation of duties within

• critical systems.

• Assess

• the effectiveness of technology change management, backup and disaster

• recovery controls.

• Work

• with relevant specialists where technical or cybersecurity expertise is

• required.

• Report

• material technology control weaknesses to the appropriate governance body.

• 5. Risk and Compliance Assurance

• Assess

• the effectiveness of the Bank's risk management framework and internal

• control environment.

• Review

• the effectiveness of the Compliance and AML/CFT functions without assuming

• responsibility for their operational activities.

• Evaluate

• adherence to regulatory requirements and internal policies.

• Review

• the effectiveness of controls designed to prevent and detect fraud, error

• and financial misconduct.

• Provide

• independent assurance on the adequacy of management's response to

• identified risks.

• 6. Fraud and Special Investigations

• Conduct

• investigations into suspected fraud, financial irregularities, control

• failures and other reported concerns as authorized.

• Gather,

• preserve and evaluate relevant evidence in accordance with appropriate

• investigation procedures.

• Identify

• root causes of control failures and recommend corrective measures.

• Escalate

• significant findings promptly to the appropriate Management and Board

• authorities.

• Maintain

• appropriate confidentiality and documentation throughout investigations.

• 7. Audit Reporting

• Prepare

• clear, objective and evidence-based audit reports highlighting findings,

• root causes, risks and recommended actions.

• Present

• significant findings and audit reports directly to the Board Audit

• Committee.

• Communicate

• material control weaknesses to Management promptly.

• Obtain

• and document management responses and agreed remediation timelines.

• Provide

• periodic reports on the overall control environment and outstanding audit

• issues.

• 8. Remediation and Follow-Up

• Maintain

• a central register of audit findings and agreed management actions.

• Track

• implementation of corrective actions to closure.

• Conduct

• follow-up reviews to verify that remediation has been effectively

• implemented.

• Escalate

• overdue or inadequately addressed high-risk findings to the Board Audit

• Committee.

• Identify

• recurring findings and recommend systemic improvements.

• 9. Governance and Independence

• Maintain

• functional independence from all operational and management functions.

• Have

• unrestricted and appropriate access to records, systems, personnel and

• information required to perform approved audit activities.

• Maintain

• professional objectivity and avoid involvement in operational

• decision-making.

• Escalate

• any matter that could compromise audit independence to the Board Audit

• Committee.

• Ensure

• the internal audit function operates in accordance with applicable

• professional standards and regulatory expectations.

Requirements

• First degree in Accounting, Finance, Economics or another

• relevant discipline.

• ACA, ACCA or CIA certification is required.

• CISA certification is desirable, particularly given the

• Bank's technology-enabled operating model.

• A relevant postgraduate qualification is an advantage.

• Minimum of 10 years' relevant professional experience,

• with at least 3 years in a senior internal audit, external audit, risk

• assurance or related control role within financial services.

• Experience in banking or Microfinance Banking is strongly

• preferred.

• Demonstrable experience auditing financial controls, credit

• operations, treasury, technology, digital channels and regulatory compliance is

• an advantage.

• Core Competencies

• Risk-based

• internal auditing

• Financial

• and operational controls

• Banking

• and financial services audit

• Credit

• and treasury audit

• IT and

• digital channel audit

• Fraud

• investigation

• Internal

• control testing

• Risk

• assessment

• Evidence-based

• analysis and reporting

• Regulatory

• and governance awareness

• Professional

• skepticism and objectivity

• Independence

• and ethical judgment

• Strong

• communication and stakeholder management

• Performance Measures

• Delivery

• of the Board-approved annual audit plan.

• Quality,

• timeliness and effectiveness of audit reports.

• Material

• control weaknesses identified and appropriately escalated.

• Timely

• closure of agreed audit findings.

• Effectiveness

• of follow-up and validation of remediation.

• Coverage

• of key financial, operational, technology, credit and treasury risks.

• Timely

• completion of special investigations where authorized.

• Reduction

• in recurring control weaknesses.

• Quality

• and usefulness of reporting to the Board Audit Committee.

• Maintenance

• of appropriate independence and professional objectivity.

Benefits

• An opportunity to establish an independent assurance
• function at the foundation of a growing Microfinance Bank and provide
• meaningful oversight of its governance, risk management and internal control
• environment. The role offers direct exposure to the Board Audit Committee and
• broad visibility across the Bank's financial, operational, technology and risk
• functions, together with a competitive compensation package aligned with the
• responsibilities and independence required of the position.