Internal Auditor

Posted : 2026-02-10
Closing : 2026-03-10
Position Scope

Position Title: Internal Auditor
Department: Internal Audit
Reports To: Audit Committee / Board of Directors , CEO

Job Purpose

The Internal Auditor is responsible for providing independent and objective assurance to the Board and Management on the effectiveness of the SACCO’s internal controls, risk management, governance processes, and compliance with regulatory and operational requirements. The role ensures protection of member funds and promotes operational efficiency and accountability.

Job Description

1. Audit & Assurance

  • Develop and implement an annual risk-based internal audit plan approved by the Audit Committee.
  • Conduct regular audits on:
    • Credit operations (loan processing, appraisal, disbursement, recovery)
    • Treasury and cash management
    • Savings and deposits
    • Procurement and asset management
    • ICT systems and data security
  • Evaluate the adequacy and effectiveness of internal controls.
  • Verify accuracy, completeness, and reliability of financial and operational records.

2. Compliance & Regulatory Review

  • Ensure compliance with:
    • SASRA regulations
    • Co-operative Societies Act
    • Central Bank guidelines (where applicable)
    • Internal policies and procedures
  • Review compliance with anti-fraud and anti-money laundering (AML) controls.
  • Monitor adherence to internal policies and recommend improvements.

3. Risk Management & Governance

  • Identify operational, financial, and compliance risks.
  • Assess risk mitigation controls and propose corrective actions.
  • Support the Board in strengthening governance structures and ethical standards.

4. Fraud Detection & Investigation

  • Detect and investigate fraud, misappropriation, and irregular activities.
  • Conduct special audits and investigations as directed by the Audit Committee.
  • Prepare investigation reports and recommend disciplinary or legal action.

5. Reporting & Follow-Up

  • Prepare clear and professional audit reports with findings, risk ratings, and recommendations.
  • Present audit findings to Management and the Audit Committee.
  • Track implementation of audit recommendations and report on status.

6. Advisory Role

  • Provide advisory support on new systems, products, and processes.
  • Participate in policy development and review.
  • Promote a culture of compliance, risk awareness, and accountability.

Requirements

Minimum Requirements

  • Bachelor’s Degree in Accounting, Finance, Business, or related field
  • Professional certification:
    • CPA (K), CIA, CISA, or ACCA (at least Part II; full qualification preferred)
    • Minimum 3–5 years’ experience in internal audit, preferably within SACCOs

Skills