Internal Audit Manager (Processes) job at ASA Microfinance (U) Ltd

Background

ASA Microfinance Uganda Ltd (ASA Uganda) is a for-profit, non-deposit taking Microfinance Institution, operating as a microfinance company and regulated by the Uganda Microfinance Regulatory Authority (UMRA). ASA Microfinance Uganda Ltd is also a member of the Association of Microfinance Institutions of Uganda (AMFIU). ASA Uganda commenced operations in 2013. ASA Uganda is a subsidiary of ASA International, one of the world’s largest international microfinance institutions globally and operates in 13 countries in Africa and Asia. The company was listed in the premium segment on the London Stock Exchange in July ’2018. ASA Microfinance (U) Ltd is seeking for professional, confident, self-motivated, and committed team players to reinforce its capacity by filling the following vacant positions:

Job Summary

The Internal Audit Manager provides independent assurance through the Chief Internal Auditor to the board of directors and senior management on the design and operating effectiveness of controls, implementation and execution of the enterprise's core business processes and risk management framework.

Key Duties and Responsibilities

• Develop and submit for approval to the Board Audit and Risk Committee (ARC) through the Chief Internal Auditor an annual audit plan that outlines the activities to be undertaken by the Internal Audit Department (IAD) to achieve its objectives during the year.
• Provide regular reports and updates to senior management and Board Audit and Risk Committee through the Chief Internal Auditor before every scheduled Board meeting to keep them aware of critical issues and develop a strategy to monitor the implementation of corrective action by management to address any control weaknesses identified during audits.
• Develop and maintain a competent and motivated internal audit team through implementing HR support activities in line with the Human resources manual and coordinate and deliver informal, practical training to staff on risk management, internal controls, fraud, etc.
• Provide guidance to senior management staff and other staff through the Chief Internal Auditor in the areas of internal controls, fraud prevention, financial management and reporting.
• Use appropriate financial management tools to determine whether results are consistent with the established goals and objectives and if they are carried out within budget and planned time frames.
• Carry out the procedures outlined in the Internal Audit Plan with the assistance of Internal Auditors and evaluate and review the Internal Control System to ensure that it is functioning as planned, modifications made as and when required to meet the changes in operating conditions.
• Perform audit of financial statements of the institution to detect irregularities and illegal acts in the conduct of the institution's business.
• Prepare and assist in the execution of external audits as well as examinations to be conducted by government regulatory agencies, due diligence teams and other stakeholders /raters and help in implementation of their recommendations.
• Ensure compliance with established risk management framework, policies, procedures, and internal controls and consequently ensure compliance with statutory and regulatory requirements.
• Initiate and participate in special investigations, ad hoc reviews, and unannounced visits for suspected cases of fraud and other investigations as necessary.
• Review transactions of the company with a view of ensuring value for money operations.
• Perform any other duties that may be assigned by the Chief Internal Auditor.

Qualifications, Skills and Experience

• A bachelor's degree in accounting/Auditing/ financial management or any other business related discipline with at least Level III of ACCA/CPA/CIA.
• A minimum of 5 years' working experience in an auditing firm or in an Internal Audit function in the Financial Services Sector with at least 2 years at Supervisory level.
• Must have a thorough understanding of the principles and application of good corporate governance, business and operational risk and internal control processes and procedures.
• Must have thorough understanding of auditing standards, audit procedures, including risk driven audit planning techniques and methods.
• Independent judgement with excellent analytical and problem-solving skills.
• Data analysis skills, with strong communication skills and ability to prepare concise oral and written reports.
• Strong communication and interpersonal skills, and the ability to interface at all levels of the organization.
• The ability to achieve an appropriate balance between the independence of the internal auditor's role with the need to work collaboratively with management for the betterment of the organization.

• Develop and submit for approval to the Board Audit and Risk Committee (ARC) through the Chief Internal Auditor an annual audit plan that outlines the activities to be undertaken by the Internal Audit Department (IAD) to achieve its objectives during the year.
• Provide regular reports and updates to senior management and Board Audit and Risk Committee through the Chief Internal Auditor before every scheduled Board meeting to keep them aware of critical issues and develop a strategy to monitor the implementation of corrective action by management to address any control weaknesses identified during audits.
• Develop and maintain a competent and motivated internal audit team through implementing HR support activities in line with the Human resources manual and coordinate and deliver informal, practical training to staff on risk management, internal controls, fraud, etc.
• Provide guidance to senior management staff and other staff through the Chief Internal Auditor in the areas of internal controls, fraud prevention, financial management and reporting.
• Use appropriate financial management tools to determine whether results are consistent with the established goals and objectives and if they are carried out within budget and planned time frames.
• Carry out the procedures outlined in the Internal Audit Plan with the assistance of Internal Auditors and evaluate and review the Internal Control System to ensure that it is functioning as planned, modifications made as and when required to meet the changes in operating conditions.
• Perform audit of financial statements of the institution to detect irregularities and illegal acts in the conduct of the institution's business.
• Prepare and assist in the execution of external audits as well as examinations to be conducted by government regulatory agencies, due diligence teams and other stakeholders /raters and help in implementation of their recommendations.
• Ensure compliance with established risk management framework, policies, procedures, and internal controls and consequently ensure compliance with statutory and regulatory requirements.
• Initiate and participate in special investigations, ad hoc reviews, and unannounced visits for suspected cases of fraud and other investigations as necessary.
• Review transactions of the company with a view of ensuring value for money operations.
• Perform any other duties that may be assigned by the Chief Internal Auditor.

• Thorough understanding of the principles and application of good corporate governance, business and operational risk and internal control processes and procedures.
• Thorough understanding of auditing standards, audit procedures, including risk driven audit planning techniques and methods.
• Independent judgement with excellent analytical and problem-solving skills.
• Data analysis skills, with strong communication skills and ability to prepare concise oral and written reports.
• Strong communication and interpersonal skills, and the ability to interface at all levels of the organization.
• The ability to achieve an appropriate balance between the independence of the internal auditor's role with the need to work collaboratively with management for the betterment of the organization.

• A bachelor's degree in accounting/Auditing/ financial management or any other business related discipline with at least Level III of ACCA/CPA/CIA.