The Sacco Risk and Internal Auditor is responsible for providing independent assurance that an organization's risk management, governance, and internal control processes are operating effectively. This role involves developing audit strategies, conducting risk-based reviews, and ensuring compliance with statutory regulations.
Roles & Responsibilities
Develop and implement a risk-based internal audit strategy and annual audit plan approved by the Sacco Board Audit Committee.
Conduct independent, objective, and risk-based audits covering financial, operational, ICT, credit, and compliance areas.
Evaluate the adequacy and effectiveness of internal controls, governance, and risk management systems.
Review compliance with the Sacco Societies Act, SASRA Regulations, policies, and procedures.
Assess and advise management and the Board on the Sacco’s risk management framework and emerging risks.
Investigate suspected fraud, irregularities, or breaches and recommend corrective action.
Prepare clear and timely audit reports and follow up on implementation of audit recommendations.
Liaise with external auditors, regulators, and the Supervisory/Audit Committee as required.
Promote a culture of accountability, integrity, and continuous improvement within the Sacco.
Minimum Qualifications
Bachelor’s degree in accounting, Finance, Business Administration, Auditing, or a related field from a recognized institution.
CPA (K) – must be a fully qualified accountant in accordance with the Accountants Act, and a member in good standing of ICPAK or a recognized equivalent body.
Minimum of 3–5 years’ relevant experience in internal audit, risk management, compliance, or assurance, preferably within a Sacco, financial institution, or audit firm.
Professional certification such as Certified Internal Auditor (CIA), CISA, or risk management qualifications.
Membership with the Institute of Internal Auditors (IIA).
Key Skills and Competencies
Strong knowledge of SASRA Regulations, Sacco Societies Act, and prudential guidelines.
Proven ability to conduct risk-based audits and internal control reviews.
High level of integrity, independence, and ethical conduct.
Excellent analytical, report-writing, and presentation skills.
Good understanding of ICT systems and automated SACCO environments.
