New opportunities at Kenindia Assurance Company Limited – May 2024

Deputy Manager -Internal Audit

 Job Purpose 

The Deputy Internal Audit Manager plays a crucial role in assisting the Internal Audit Manager in overseeing the internal audit function within the organization.This position requires a combination of strong auditing skills, leadership capabilities, and the ability to collaborate effectively with various departments. The Deputy Internal Audit Manager will be responsible for assisting in planning, executing, and reporting on audit activities to ensure compliance with company policies, procedures, and regulatory requirements.

Main Responsibilities
Assist in Audit Planning

  • Collaborate with the Internal Audit Manager to develop an annual audit plan based on risk assessment and business priorities.
  • Contribute to identifying focal audit areas, setting objectives, and delineating the scope of individual audits.

Execution of Audits

  • Lead and participate in audit engagements, meticulously conducting interviews, scrutinizing documentation, and executing testing procedures.
  • Evaluate the sufficiency and efficacy of internal controls, risk management protocols, and adherence to policies and regulations.
  • Review audit work papers, documentation, and reports prepared by assistants to ensure accuracy, completeness, and compliance with established standards.
  • Document audit findings comprehensively, delineating issues, underlying causes, and recommendations concisely in audit reports.
  • Monitor the implementation of corrective actions resulting from audit findings to ensure timely resolution.

Team Leadership and Development

  • Provide guidance and support to audit team members throughout the audit process.
  • Conduct performance appraisal of audit team members
  • Foster a collaborative and constructive work environment that encourages knowledge sharing and professional development.

Stakeholder Communication

  • Communicate audit results, recommendations, and status updates to management and relevant stakeholders in a clear and timely manner.
  • Serve as a trusted advisor to management on internal control matters and best practices.
  • Build and maintain effective relationships with key stakeholders, including department heads, to facilitate the audit process

Continuous Improvement

  • Stay abreast of industry developments, emerging risks, and regulatory changes that may impact the organization
  • Identify opportunities to enhance audit methodologies, tools, and processes to improve efficiency and effectiveness.
  •  Participate in special projects, initiatives and investigations related to governance, risk management, and internal controls as assigned.

Academic Qualifications:

  • Bachelor’s degree in accounting, finance, business administration, or related field

Professional Qualifications / Membership to professional bodies

  • Certified Public Accountant (CPA K)
  • Certified Internal Auditor (CIA)

Relevant work experience required.

  • A minimum of seven (8) years’ relevant work experience out of which a minimum of 3 years must have been at supervisory level. Insurance Industry experience will be an added advantage

Functional Skills, Behavioral Competencies/Attributes

  • Strong understanding of internal control concepts,  audit techniques and working knowledge of Internal Auditing Standards
  • Proficiency in conducting data analysis using tools such as Microsoft Excel, ACL, or similar software.
  • Excellent analytical skills, attention to detail, and ability to draw meaningful insights from complex information.
  • Excellent Interpersonal and Communication Skills
  • Ability to work independently and collaboratively in a fast-paced environment, managing multiple priorities and deadlines effectively.
  • Financial management skills
  • Leadership skills

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Assistant Manager – Internal Audit

 Job Purpose

  • To be responsible for evaluating and improving the effectiveness and efficiency of the  organization’s internal controls, risk management processes, and governance systems.
  • Working within the Internal Audit department, conduct independent assessments of various business functions and processes to identify risks, assess controls, and provide recommendations for enhancement.

Main Responsibilities
Audit Planning and Preparation

  • Collaborate with the Deputy Manager, Internal Audit to develop risk-based audit plans aligned with organizational objectives
  • Conduct preliminary research and analysis to understand the audit area, including relevant policies, procedures, regulations, and industry standards.
  • Prepare audit programs and testing procedures to evaluate the design and operating effectiveness of internal controls.

Risk Assessment and Control Evaluation:

  • Identify key risks inherent in the audit ares  and assess the adequacy of existing controls to mitigate these risks.
  • Evaluate the design and implementation of internal controls, assessing their effectiveness in preventing or detecting errors, fraud, or non-compliance.
  • Document findings and discrepancies, clearly articulating the impact and significance of identified issues.

Fieldwork and Data Analysis:

  • Execute audit procedures, including interviews, observations, and examination of documentation and data.
  •  Perform detailed testing of controls to assess compliance with policies, accuracy of financial information, and effectiveness of operational processes.
  • Analyze quantitative and qualitative data to identify trends, anomalies, and areas of potential risk or improvement.
  • Maintain accurate and detailed work papers.

Reporting and Communication

  • Prepare clear, concise, and well-supported audit reports summarizing findings, conclusions, and recommendations for improvement.
  • Present audit results to management and key stakeholders, facilitating discussions on remediation plans and corrective actions.
  •  Follow up on audit findings and recommendations to ensure timely resolution and implementation of corrective measures.

Compliance and Governance Support

  • Stay informed about relevant laws, regulations, and industry standards to ensure audit activities remain compliant and aligned with best practices.
  •  Provide guidance and support to business units on compliance matters, promoting a culture of ethics, integrity, and accountability.
  •  Participate in special projects, initiatives and investigations related to governance, risk management, and internal controls as assigned.

Academic Qualifications:

  • Bachelor’s degree in accounting, finance, business administration, or related field

Professional Qualifications / Membership to professional bodies

  • Certified Public Accountant (CPA K)
  • Certified Internal Auditor (CIA) will be an added advantage

Relevant work experience required.

  • Minimum of 5 years of experience in internal audit or external audit. Insurance Industry experience will be an added advantage

Functional Skills, Behavioral Competencies/Attributes

  • Strong understanding of internal control concepts,  audit techniques and working knowledge of Global Internal Auditing Standards and Accounting Principles
  • Proficiency in conducting data analysis using tools such as Microsoft Excel, ACL, or similar software.
  • Excellent analytical skills, attention to detail, and ability to draw meaningful insights from complex information.
  • Excellent communication and interpersonal skills, with the ability to interact professionally with individuals at all levels of the organization.
  • Ability to work independently with minimal supervision, while also collaborating effectively within a team environment.
  •  Strong organizational and time management skills, with the ability to manage multiple priorities and meet deadlines.

Submit Your Application

All application to be sent to [email protected]. Closing date for all applications is 31st May, 2024.

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