Mwananchi Credit Limited is a private limited company incorporated in Kenya, initially starting operations as Mwananchi Microlink Ltd in 2010 before rebranding in 2012. As the Head of Internal Audit, you will play a vital role in ensuring timely disbursements, managing compliance-related complaints, verifying documents, developing new compliance policies, and reducing portfolio at risk (PAR). You will be responsible for overseeing the entire internal audit function, managing staff, and ensuring the company adheres to all regulatory and internal standards.
Key Responsibilities
Annual Audit Plan Development and Execution
- Assist in developing and executing the annual audit plan.
- Identify risk areas and prioritize audits based on potential impact.
Audit Planning and Management
- Plan, manage, and determine audit objectives and scope.
- Develop audit programs and ensure compliance with policies and standards.
- Conduct audits efficiently and effectively.
Operational Examinations and Compliance
- Perform operational examinations for compliance with policies and procedures.
- Evaluate efficiency and adherence to accounting principles.
- Consult departments on compliance and operational improvements.
Supervision and Development of Audit Staff
- Supervise internal audit staff and facilitate professional growth.
- Provide guidance and support to audit team members.
Audit Documentation and Reporting
- Document audit findings and prepare comprehensive reports with actionable recommendations.
- Communicate audit results to senior management and stakeholders.
Risk Identification and Mitigation
- Identify and mitigate risks, ensuring accurate financial reporting.
- Improve operational efficiency and add business value.
Review and Follow-Up Audits
- Conduct follow-up audits on specific accounts and ensure proper corrective actions are taken.
- Evaluate the implementation of audit recommendations.
Liaison with External Auditors
- Serve as a liaison with external auditors.
- Ensure proper completion of audit requirements.
Objectives and Key Results (OKRs)
Enhance Audit Planning and Execution
- Develop and complete the annual audit plan within the 1st quarter.
- Identify and assess risks for at least 90% of audits conducted.
- Ensure all audits are planned, executed, and documented within the defined scope and timeline.
Improve Compliance and Operational Efficiency
- Achieve a 100% compliance rate with internal policies and procedures during audits.
- Implement at least 80% of audit recommendations within six months.
- Review and Audit Invoices for approval and payment.
Develop and Support Audit Staff
- Conduct quarterly training sessions for internal audit staff.
- Complete performance evaluations for all audit staff bi-annually.
- Maintain a staff satisfaction rate of 85% or higher through regular feedback and development initiatives.
Strengthen Branch and Departmental Support
- Improve the TAT for handling statements within three (3) days.
- Ensure 100% accuracy in portfolio reporting through routine operations audits and follow-ups.
- Conduct monthly reviews on liquidated/restructured accounts to ensure proper closure and documentation.
Foster Effective Collaboration with External Auditors
- Facilitate smooth and timely communication with external auditors for all reviews.
- Ensure 100% completion of external audit requirements within the stipulated deadlines.
- Implement at least 90% of the external auditors’ recommendations within one year.
Qualifications and Requirements
- A degree (BA/BSc/HND) in a relevant field (Accounting, Finance, or Audit).
- Professional audit certifications (e.g., CPA-K, CIA) are typically expected for this level of seniority.
- Extensive experience in audit planning, management, and risk identification.
- Proven ability to supervise a professional team.
- Strong understanding of financial reporting and operational compliance.
How to Apply
Submit your updated CV and cover letter to careers@mwananchicredit.com. Shortlisted candidates will be contacted directly.
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