Job Summary: Continuously ensure implementation of internal control systems, risk management and governance, procedures and policies with a view to minimize risk exposure for utilization of assets and other Society resources.

In charge of an independent appraisal of all SACCO functional areas established by the board and review of the internal control system.

The responsibility is to objectively examine, evaluate, verify Financial & non-financial data and determine the accuracy and reliability of accounting statements and report on the adequacy of internal control as a contribution to proper economic, efficient and effective use of resources.

Internal auditing activity is the eye of the CEO and the Board of Directors in the SACCO.

Main Duties and Responsibilities
Administrative
Evaluate and track systems and controls to determine their adequacy and effectiveness to the SACCO to ensure: effective, efficient and economic use of the SACCO resources, reliability and integrity of information, and Compliance with policies.
Identify business risks, systems and control weaknesses, and deficiencies in policies and procedures.
Develop and discuss audit findings and recommendations with CEO and senior managers and agree on a timeframe for corrective action.
Advise management on non-compliance operations.
Carry out special and audit assignment and investigations.
Keep internal control procedures updated.
Internal Audit
Prepares an overall comprehensive audit plan for the Sacco as regards the nature, extent and timing of the audit activities.
Update and communicate audit programmes changes in consultation with CEO and Chair of Audit Sub-committee and the Supervisory Committee to ensure adherence with internal audit standards.
Prepare internal audit reports and present to the CEO, Audit Subcommittee and the Supervisory Committee
Co-operate with external auditors on matters regarding internal control and any other matters arising from their work
Checking the loans paid to staff, members and board to ascertain that the society’s relevant policies and procedures are followed
Checking monthly and final financial statements to ascertain their accuracy and completeness
Conducting impromptu & special investigative visits in the cash office and Front Office to ensure that all operations procedures are complied with.
Review economy, efficiency and effectiveness of the society operations.
Ensure compliance with the policy, procedures and government requirements.
Verification of all payments and receipts.
Reviewing internal controls including the scope of the internal audit program, the internal audit findings and recommend action to be taken by the Board of Directors.
Ensuring that accounting records and financial reports are promptly prepared to accurately reflect operations and results.
Ensuring that policies and control procedures are sufficient to safeguard against error, carelessness, conflict of interest, self-dealing and fraud.
Procedure reports to the CEO on day-to-day operations of the society.
Keeping minutes of the Audit Committee.
Considering any matter of significance raised at the Annual General Meeting.
To investigate cases of frauds in the SACCO and report to relevant authority.
Any other duties assigned by BOD’s, CEO and the audit committee from time to time.
Operational Roles and Responsibilities
Participate in the preparation and implementation of Society’s strategic Plan
Assist in the coordination of activities of the audit and supervisory committees in consultation with CEO
Supervising, training and appraising staff
Prepare management reports as required
Ensure audit working papers are properly prepared, referenced, reviewed and documented systematically
Develop and maintain a sound audit manual detailing audit practices, process mapping and standards

Job Specifications:
The incumbent will be required to possess the following qualifications and skills:
Minimum registered CPA (K) or its recognized equivalent.
A Bachelor of Commerce, BA Accounting, diploma in Co-operative Management and experience in FOSA Operations or any other recognized equivalent qualification
Master’s Degree in Finance/accounting would be an added advantage.
Have at least 5 years practical experience in a busy financial institution with 2 years in a Senior Management Position. (Preferably financial institution)
Membership to a professional body
Computer literate
Minimum C+ in KCSE
Possess excellent interpersonal communication and motivational skills.
Be between 30 – 50 years of age
Well versed with contemporary audit standards, governance & legal issues, taxation, banking and business trends
Organized, self-empowered and of unquestionable integrity
Must be a good team leader.
Deadline-Oriented, Attention to Detail, Confidentiality,
Analytical and problem solving skills and Knowledge of SASRA regulations.
Possession of Certificate of Good conduct

How to Apply
Interested candidates meeting the above criteria should forward an application enclosing detailed Curriculum Vitae accompanied by copies of certificates, National ID, names and contacts of three referees, testimonials indicating the current remuneration and expected salary by e-mail to info@boreshasacco.co.ke or recruitment@boreshasacco.co.ke quoting the job reference as the subject matter “AUDIT/2/2016” by 14th January 2015.

Boresha SACCO is an equal opportunity employer.