Job Description
Job Summary
The Candidate is responsible for providing independent assurance that Vertex SACCO Ltd.'s operations, financial activities, systems, policies, and internal controls are effective, compliant, properly managed, and aligned with organizational objectives.
The position identifies and evaluates risks, assesses the effectiveness of internal controls, conducts internal audits, investigates control weaknesses and irregularities, recommends corrective actions, and monitors implementation.
The role is designed to protect Vertex SACCO's assets, strengthen governance, minimize operational and financial risks, prevent fraud, ensure compliance, and improve organizational performance.
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Key Accountabilities
The Internal Auditor is primarily accountable for: Internal Audit & Assurance, Risk Management, Internal Control Assessment, Fraud Risk Prevention & Detection, Compliance Monitoring, Loan Risk Review, Financial & Operational Risk Assessment, Audit Findings & Corrective Action Follow-up, Governance & Policy Compliance, and Risk Reporting & Management Advisory.
Job Requirements
Education: Bachelor's Degree in Accounting, Accounting & Finance or with related field of study
Experience: Minimum of five (5) years of relevant professional experience in internal auditing, external auditing, accounting, or financial management, including at least two (2) years in a supervisory or managerial position.
Quantity Required: 1
Salary: Based on the company scale
Duties and Responsibilities
Internal Audit Planning & Execution
Develop and implement an annual internal audit plan based on organizational risk priorities.
Conduct scheduled and surprise audits of departments, branches, processes, transactions, and operational activities.
Review financial, operational, administrative, commercial, loan, insurance, procurement, and cash-handling processes.
Test transactions, records, approvals, supporting documents, reconciliations, and controls.
Evaluate whether policies and procedures are properly implemented.
Identify control gaps, inefficiencies, irregularities, and potential financial losses.
Prepare clear and evidence-based internal audit reports.
Follow up on previously identified audit findings until corrective actions are completed.
Risk Management
Establish and maintain a practical organizational risk-management framework.
Identify, assess, document, and monitor financial, operational, liquidity, compliance, fraud, reputational, technology, and strategic risks.
Maintain a Risk Register and regularly update risk ratings.
Assess the probability and potential impact of identified risks.
Recommend appropriate risk mitigation measures.
Monitor emerging risks and escalate significant risks to management and the appropriate governance body.
Support management in integrating risk management into business planning and decision-making.
Internal Control
Evaluate the adequacy and effectiveness of internal controls.
Review segregation of duties and authorization procedures.
Assess controls over cash, bank accounts, loans, deposits, assets, expenses, procurement, payroll, and financial transactions.
Identify opportunities for control improvement.
Recommend preventive and corrective controls.
Monitor whether management implements agreed control improvements.
Loan Risk
Conduct independent reviews of loan files and processes.
Assess compliance with loan policies, approval limits, documentation requirements, and authorization procedures.
Review delinquent loans, PAR, NPL, recoveries, write-offs, and collection activities.
Identify weaknesses that may contribute to loan losses.
Review whether loan disbursement and recovery processes are properly controlled.
Report material loan-risk exposures and recommend corrective actions.
Fraud Prevention & Investigation
Assess fraud risks across key business processes.
Identify unusual transactions, control overrides, unauthorized activities, and suspicious patterns.
Support the investigation of suspected fraud, misconduct, financial irregularities, and policy violations.
Maintain confidentiality throughout investigations.
Recommend preventive measures to reduce fraud exposure.
Immediately escalate material fraud or suspected financial misconduct through the appropriate authority.
Compliance & Policy Monitoring
Monitor compliance with applicable laws, regulations, SACCO requirements, internal policies, procedures, and management directives.
Review whether employees and departments operate within approved authorities.
Identify compliance gaps and recommend corrective measures.
Maintain a compliance-risk monitoring approach.
Escalate significant or repeated violations.
Operational Risk
Review operational processes to identify weaknesses, inefficiencies, and potential losses.
Assess risks related to people, processes, systems, technology, branches, suppliers, and business continuity.
Recommend process improvements and stronger preventive controls.
Monitor implementation of risk-mitigation actions.
Audit Reporting
Prepare periodic internal audit and risk reports.
Clearly document the audit objective, scope, findings, evidence, risk implications, root causes, recommendations, responsible persons, and corrective-action deadlines.
Present significant findings to management and relevant governance structures.
Maintain an organized audit trail and supporting documentation.
Corrective Action Follow-up
Maintain an Audit Issues & Corrective Action Register.
Track management responses and agreed corrective actions.
Verify whether corrective actions have actually been implemented.
Report overdue, repeated, or unresolved high-risk findings.
Escalate critical issues without unnecessary delay.
Advisory & Continuous Improvement
Provide independent advice to board & management on strengthening controls and reducing risk.
Participate in the review of new products, systems, branches, processes, and major initiatives from a risk perspective.
Recommend improvements that increase efficiency while maintaining adequate controls.
Promote a strong culture of accountability, integrity, compliance, and risk awareness.
How To Apply
Submit your application and CV along with supporting documents via email: vertexsacco.hr@gmail.com
Female applicants are highly encouraged to apply.
