POSITION DESCRIPTION – KIMS MICROFINANCE
Position Title: Internal Audit and Risk Manager
Location: Hargeisa
About the Company:
KIMS Microfinance TRIMS) is a leading microfinance organisation with a tradition of excellence in supporting Somali people. The headquarter of KIMS is in Hargiesa. RIMS has branches in Hargiesa, Mogadisho, Borama, Kismayo, Bosaso, Baladweyn, Bunco, Laas’caanood and Af-madaw. KIMS Microfinance has business relations with local and international financial institutions and business organizations.
Position Summary
Audit and Risk is an independent and objective assurance and advisory activity designed to add value and improve KIMS’ operations. It assists management and the Board to accomplish their objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of KIMS’ governance, risk management and internal control processes.
A key member of the Senior Management Team (SMT), the Internal Audit and Risk Manager is responsible for completing internal audit activities consistent with the standards established by the Institute of Internal Auditors. The Internal Audit and Risk Manager will create, maintain, analyse and review the KIMS Strategic Risk Register identifying trends and developing responsive and proactive solutions for the mitigation of future risk exposure in line with KIMS’s risk appetite.The Internal Audit and Risk Manager will play an integral role in driving financial performance and influencing organisational culture in line with the innovative and strategic direction of KIMS Board.
The position will work closely with the Senior Management Team of KIMS and reports to the Chairman of the KIMS Board.
Key Responsibilities
• Conducting Internal audit activities in accordance with all KIMS policies & procedure, the Standards for Professional Practice of Internal Auditing and the Code of Ethics of the Institute of Internal Auditors (IIA).
• Developing, documenting implementing, testing and maintaining a comprehensive internal audit plan and system of internal controls to help provide assurance that applicable laws, regulations, and KIMS policies and procedures are complied with judiciously.
• Evaluate control environment including soundness of financial and operating controls around various Departments/Branches of KIMS and provide recommendations on existing policies and procedures.
• Identifying and assessing areas of significant business risk within EMS systems.
• Identifying and reducing all business and financial risks through effective implementation and monitoring of controls. • Providing accurate analysis and reports on the overall operational performance of the business units.
• Conduct ad hoc investigations into identified or reported risks.
• Recording, reviewing and interpreting data to determine the effectiveness of operations.
• Providing the Audit & Risk Committee, Board and management with an independent and objective assessment of the adequacy, effectiveness and efficiency.
• Ensure complete, accurate and timely audit information is reported to Management and/or Risk Committees.
• Notifying management the Audit & Risk Committee and the Board of any material internal control deficiencies.
• Maintaining adequate levels of independence from KIMS’ business operations.
• Foster and support team spirit and co-operation through open and honest communication and sharing of ideas. • Ensure all audit action plans are followed up to ensure timely mitigation of risk plans-
• Assisting the Audit and Risk Committee to discharge its responsibilities.
• Assisting management to investigate fraud, identify the risks of fraud and develop fraud prevention and monitoring strategies, and notifying management and the Audit & Risk Committee of the results.
• Promote corporate assurance by educating for awareness on matters such as fraud and corruption to minimise opportunity for fraudulent and or corrupt actNities across the business.
• Providing continued education and advice to different business units and teams regarding compliance and risk assessment • Conduct follow up audits to monitor management’s interventions.
• Reporting audit findings and recommending improvements.
• Helping external auditors to ensure the adequacy of overall audit coverage and ta minimise duplication of effort.
• Demonstrate accountability by taking responsibility for actions, outcomes and deliverables, displaying commitment to work, and handling issues with minimal guidance. • Engage to continuous knowledge development regarding sector’s rules, regulations, best practices, tools, techniques and performance standards.
Selection Criteria
• Bachelor’s degree in Accounting, Business Administration or Finance. CPA strongly preferred, with at least four years subsequent relevant experience.
• Ability to manipulate large amounts of data and to compile detailed reports.
• Demonstrated understanding of audit planning and analysis with a high-level numerical proficiency and accuracy.
• Demonstrated ability to implement contemporary management practices to achieve business goals and objectives, in particular those related to the internal audit.
• High level written, electronic and verbal communication skills with the ability to liaise efficiently and effectively with a Board, CEO, managers, external bodies, and stakeholders
• Proven familiarity and competence with MSOffice (Microsoft 365) professional software applications and management information systems (ISHRAQ, financial software, etc.).
• Superior problem-solving ability and the ability to negotiate successful outcomes in potentially challenging Arcumstances.
• Excellent organizational skills and proven ability to balance different work priorities to meet deadlines.
• Proven working experience as Internal Audit and Risk Manager or similar job.
• Be a role model for performing work at a consistently high standard.
Special Requirements
• Annual leave must be taken at a time which accommodates inIthe peak workflows of KIMS.
• As KIMS Microfinance offices are located over several cities, staff may be required to travel to, or work from, other cities as required.
• All final applicants for this position will be asked to consent to a criminal record check (background check).
How to Apply
If you meet the requirements as stipulated above, please email your application letter accompanied with a detailed CV in PDF format clearly indicating your current position, current and expected remuneration to the following email address **@ki*****.com Closure of the application 1 April 2022.
Submission must be received by specified application deadline. Please note, RIMS Is an equal opportunity employer. Only shortlisted candidates will be contacted.