Sacco Chief Audit and Compliance Officer

Sacco Chief Audit and Compliance Officer (REF: CACO/04/24)

Sacco Chief Audit and Compliance Officer (REF: CACO/04/24)

Our client, a licensed deposit-taking Sacco in Nairobi, is seeking to recruit qualified and highly motivated individuals to fill the vacant position below in line with its growth strategy;


Job Purpose:

The Chief Audit and Compliance Officer will be responsible for conducting independent, impartial, and objective internal audit exercises and liaising with External Auditors during Interim and Final Audits, analyzing business policies, processes, and procedures, and ensuring compliance.

Reporting to the Head of Audit and Compliance or to the CEO administratively but functionally to the Board.

Job Type: Contract – Two (2) Years

Main Duties and Responsibilities

  • Promoting the highest standards of ethics and standards in the SACCO society based on principles of professionalism, integrity, objectivity, competence, and confidentiality;
  • Provides leadership in the development, reviews, and implementation of Internal Audit Charter to align with the internal Audit professional standards, codes of practice & policies, legislative frameworks, SASRA Regulations and government regulations;
  • Provides leadership and is responsible for the implementation of the annual Audit Plan to ensure that all functional areas are covered during audits by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes;
  • Perform audit procedures to verify and ensure that the Risk management, Governance, and Internal controls at the SACCO, conform to SACCO By-laws, policies, processes, and procedures, and all SACCO-related statutory requirements. Audit all operations of the SACCO, review controls, evaluate their adequacy and functionality;
  • Undertake regular testing of all financial transactions and systems (MIS) reviews to confirm that internal control systems are in place and are working;
  • Conduct discussions with Line Managers on commencement and completion of all audits;
  • Issues tracking and follow-up on audit recommendations to ensure timely implementation of the corrective measures to mitigate identified risks;
  • Analyze and verify financial statements of the SACCO are prepared in accordance with IFRS, IAS and the SACCO Societies Act to meet the disclosure requirements per prevailing rules and regulations;
  • Preparing timely and quality reports detailing identified business risks and key control weaknesses and recommending appropriate mitigation measures and practical solutions;
  • Reviewing the economic efficiency and effectiveness in the utilization of resources so that the objectives of the SACCO are achieved;
  • Conduct ad-hoc/ special assignments as may be assigned by the CEO or the Board;
  • Liaise with external Auditors to foster cooperation, reduce duplication of effort, and ensure appropriate sharing of information;
  • Assist in coordinating the activities and provide technical advice and reports to the Audit and Risk Board Committee;
  • Champion risk awareness and integration of risk considerations in all the Sacco initiatives and process designs;
  • Perform any other responsibility assigned.

Sacco Chief Audit and Compliance Officer (REF: CACO/04/24)

Qualifications & Experience

For appointment to this grade, the applicant must have;

  • Bachelor’s degree in finance or any other business-related degree from a recognized university.
  • Master’s degree and Diploma in Cooperative Management and CISA is an added advantage.
  • Certified Public Accountant of Kenya (CPA K).
  • Member of ICPAK or relevant professional body.
  • Minimum 3 years of working experience in a busy accounting/auditing environment and preferably within the SACCO movement.
  • Be competent in use of IT as a working tool.

How to apply

Interested and qualified applicants are requested to click on the link below and fill out the online application form and submit by 3rd May 2024. Any applications received after the closing date shall not be accepted.

Only shortlisted candidates will be contacted. If you do not hear from us by 31st May 2024, consider your application as unsuccessful.

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