Job Description

To provide independent and objective assurance on the effectiveness of the Bank's governance, risk management, internal controls and operational processes. The Head of Internal Audit will provide the Board and Management with evidence-based assessments of the Bank's control environment, identify weaknesses and emerging risks,investigate suspected control failures or fraud, and monitor the implementation of agreed corrective actions.
The role must maintain appropriate independence from all operational and management responsibilities.

Key Responsibilities

Internal Audit Strategy and Planning

Develop a risk-based annual internal audit plan for approval by the Board of Audit Committee.
Conduct periodic risk assessments to identify areas requiring audit attention.
Align audit coverage with the Bank's strategic objectives, risk profile, regulatory requirements and emerging risks.
Review and update the audit plan where significant changes in the Bank's risk environment occur.
Maintain appropriate audit methodologies, procedures and documentation.

Financial and Operational Audits

Conduct independent reviews of the Bank's financial and operational processes.
Audit cash operations, vault controls, teller activities and cash movements.
Review customer account opening, KYC documentation and transaction processing controls.
Audit credit files, loan approval processes, documentation, disbursement and portfolio controls.
Review reconciliations, suspense accounts, expenses, procurement and payment processes.
Assess compliance with approved policies, delegated authorities and internal procedures.

Treasury and Investment Audit

Audit treasury transactions from initiation through authorization, confirmation, settlement and accounting.
Review compliance with approved counterparty, investment, tenor, concentration and liquidity limits.
Test segregation of duties between treasury dealing, approval, confirmation, settlement and accounting.
Review treasury reconciliations and maturity records.
Identify unauthorized, unusual or inadequately controlled treasury transactions and escalate appropriately.

Technology and Digital Audit

Review the effectiveness of IT general controls, access management and system security.
Audit digital banking channels, technology processes and relevant third-party integrations.
Review user access rights, privileged access and segregation of duties within critical systems.
Assess the effectiveness of technology change management, backup and disaster recovery controls.
Work with relevant specialists where technical or cybersecurity expertise is required.
Report material technology control weaknesses to the appropriate governance body.

Risk and Compliance Assurance

Assess the effectiveness of the Bank's risk management framework and internal control environment.
Review the effectiveness of the Compliance and AML/CFT functions without assuming responsibility for their operational activities.
Evaluate adherence to regulatory requirements and internal policies.
Review the effectiveness of controls designed to prevent and detect fraud, error and financial misconduct.
Provide independent assurance on the adequacy of management's response to identified risks.

Fraud and Special Investigations

Conduct investigations into suspected fraud, financial irregularities, control failures and other reported concerns as authorized.
Gather, preserve and evaluate relevant evidence in accordance with appropriate investigation procedures.
Identify root causes of control failures and recommend corrective measures.
Escalate significant findings promptly to the appropriate Management and Board authorities.
Maintain appropriate confidentiality and documentation throughout investigations.

Audit Reporting

Prepare clear, objective and evidence-based audit reports highlighting findings, root causes, risks and recommended actions.
Present significant findings and audit reports directly to the Board Audit Committee.
Communicate material control weaknesses to Management promptly.
Obtain and document management responses and agreed remediation timelines.
Provide periodic reports on the overall control environment and outstanding audit issues.

Remediation and Follow-Up

Maintain a central register of audit findings and agreed management actions.
Track implementation of corrective actions to closure.
Conduct follow-up reviews to verify that remediation has been effectively implemented.
Escalate overdue or inadequately addressed high-risk findings to the Board Audit Committee.
Identify recurring findings and recommend systemic improvements.

Governance and Independence

Maintain functional independence from all operational and management functions.
Have unrestricted and appropriate access to records, systems, personnel and information required to perform approved audit activities.
Maintain professional objectivity and avoid involvement in operational decision-making.
Escalate any matter that could compromise audit independence to the Board Audit Committee.
Ensure the internal audit function operates in accordance with applicable professional standards and regulatory expectations.

Requirements

First degree in Accounting, Finance, Economics or another relevant discipline.
ACA, ACCA or CIA certification is required.
CISA certification is desirable, particularly given the Bank's technology-enabled operating model.
A relevant postgraduate qualification is an advantage.
Minimum of 10 years' relevant professional experience, with at least 3 years in a senior internal audit, external audit, risk assurance or related control role within financial services.
Experience in banking or Microfinance Banking is strongly preferred.
Demonstrable experience auditing financial controls, credit operations, treasury, technology, digital channels and regulatory compliance is an advantage.

Core Competencies

Performance Measures

Head Of Internal Audit At Tokiye Integrated Medical Services

Key skills