The Co-operative Bank of Kenya Limited is incorporated in Kenya under the Company Act and is also licensed to do the business of banking under the Banking Act.

REF: IA/08/24)

Job Purpose:

• To provide independent appraisal of all the SACCO activities by providing assurance, insight and objectivity into the Society operations.
• To examine and evaluate risk management framework, controls, and governance processes, to ensure they are adequate and functional.
• Proactively advising and recommending improvements on internal controls and risk management systems.

Reporting to: The CEO

Roles and Responsibilities

• Develop and implement the SACCO’s overall audit strategy, policies, procedures and programs to minimize current and future exposure to financial, operational or other business risks.
• Plan and monitor auditing of all functions to ensure compliance with the SACCO‘s policies, procedures and statutory requirements.
• Ensuring that the society is well prepared during the external audits and all documentation are provided and explanations including the source documents like vouchers, receipts, minutes etc.
• Ensuring that all payments and receipts are all recorded and proper approval and authorization are done. Verification and vouching of all expenses and assets. Proper loans process is followed as per laid down credit policy and strict adherence of other policies.
• Maintain an audit risk profile for the SACCO and propose an annual programme of audit activities in conjunction with the relevant departmental heads.
• Undertake specific independent audit assurance e.g. post implementation reviews and major proposals.
• Make recommendations and contribute to the development of solutions to improve the internal control and operational environment based on the audit findings.
• Ensure heads of departments provide action plans to address the control weakness for each issue raised in the audit report with timelines for implementation and clear ownership of action.
• Update the monthly report with the progress on implementation of high-risk audit actions and follow up with the audit client to drive quick resolution of the high-risk control weaknesses.
• Quarterly audit reports to Management (through the CEO) and to the Audit Committee.
• Ensure that the internal audit activity maintains its independence and objectivity.
• Liaison with Supervisory committee and external auditors.
• And any special investigations assigned by the CEO and/ or SACCO Board.

Qualifications & Experience

Appointment to the position will be made from persons who:

• Bachelor’s Degree in Finance or Accounting.
• Professional accounting qualification CPA K / ACCA is a must.
• Member of ICPAK or relevant professional body and in good standing.
• Minimum (3) years’ relevant experience.
• Knowledge of Sacco core banking system is an added advantage.
• Experience in Sacco, Bank and Microfinance operations.

ATTRIBUTES/SKILLS

• Sound leadership skills.
• Attentive to details.
• Good communication and interpersonal skills.
• Systems audit experience.
• Works Independently with minimum supervision.
• Analytical and result oriented.
• A person of integrity.
• Good problem-solving skills.