JOB PURPOSE

Provide independent and objective assurance on the adequacy and effectiveness of the Bank’s governance, risk management, compliance, and internal control framework through the execution of risk-based internal audit engagements. Conduct audit planning, fieldwork, reporting, and follow-up activities in accordance with the Institute of Internal Auditors (IIA) Standards, CBK Prudential Guidelines, applicable laws and regulations, and the Bank’s Internal Audit methodology.

 

KEY RESPONSIBILTIES 

  • Audit Planning
  • Participate in planning assigned risk-based audit engagements in accordance with the approved annual audit plan.
  • Obtain an understanding of audited processes through walkthroughs, document reviews, data analysis, and stakeholder discussions.
  • Identify key risks, controls, and applicable regulatory requirements to support the development of audit programs.
  • Develop audit procedures and testing approaches that adequately address identified risks and audit objectives.
  • Prepare audit planning documentation in accordance with the Bank’s audit methodology and quality standards.
  • Audit Execution 
  • Execute audit procedures to assess the design and operating effectiveness of internal controls across operational, financial, credit, treasury, ICT, digital banking, compliance, and other business processes.
  • Perform substantive and control testing using risk-based auditing techniques, data analytics, and professional judgment.
  • Analyse audit evidence to identify control weaknesses, process inefficiencies, regulatory breaches, and emerging risks.
  • Apply analytical techniques including trend analysis, root cause analysis, and exception analysis to support audit conclusions.
  • Escalate significant control deficiencies, suspected fraud, regulatory breaches, or other material issues promptly through established reporting channels.
  • Maintain complete, accurate, and well-supported audit working papers that comply with internal quality assurance requirements and professional standards.
  • Audit Reporting, Monitoring & Follow-up 
  • Prepare clear, concise, evidence-based audit findings and recommendations for inclusion in audit reports.
  • Discuss audit observations with process owners to validate factual accuracy before report finalization.
  • Monitor implementation of agreed management action plans and perform follow-up reviews to verify effective remediation of audit issues.
  • Document the status of outstanding audit issues and provide updates to Audit Management.
  • Support special audits, investigations, regulatory reviews, and other assignments as directed.
  • Risk & Compliance
  • Assess the adequacy and effectiveness of internal controls supporting the Bank’s governance, risk management, and compliance processes.
  • Evaluate compliance with applicable laws, CBK Prudential Guidelines, internal policies, procedures, and regulatory requirements.
  • Assess controls over key risk areas including credit, operational, ICT/cybersecurity, AML/CFT/CPF, financial reporting, and regulatory compliance.
  • Identify and communicate control deficiencies, regulatory breaches, unethical practices, and emerging risks identified during audit engagements.
  • Provide objective audit observations and practical recommendations to strengthen internal controls while maintaining auditor independence.
  • Maintain current knowledge of regulatory developments, emerging risks, auditing standards, and industry best practices.

DECISION MAKING AUTHORITY

  • Determine the audit procedures and testing techniques required to achieve assigned audit objectives within the approved audit methodology.
  • Evaluate the sufficiency, reliability, and relevance of audit evidence to support audit conclusions.
  • Exercise professional judgment in assessing control effectiveness and the significance of audit observations.
  • Recommend audit findings, risk ratings, and corrective actions for supervisory review.
  • Recommend closure of audit issues after validating implementation of agreed corrective actions.
  • Escalate significant control failures, suspected fraud, or material regulatory breaches promptly in accordance with established escalation protocols.

ACADEMIC BACKGROUND

  • Bachelor’s degree in Accounting, Finance, Business Administration, Economics or a related discipline from a recognized institution.

WORK EXPERIENCE

  • Minimum of three (3) years’ progressive experience in Internal Audit, External Audit, Risk Management, Compliance, or Assurance within a financial institution or other highly regulated environment.
  • Demonstrated understanding of banking operations, credit processes, treasury operations, digital banking, financial crime risk, and regulatory compliance.
  • Experience using audit management systems and data analytics tools such as TeamMate, ACL, Power BI, SQL, or equivalent will be an added advantage.

SKILLS & COMPETENCIES

  • Strong analytical, critical thinking, and investigative skills.
  • Excellent report writing, communication, and presentation skills.
  • Sound understanding of risk-based auditing principles and internal control frameworks.
  • High level of professional skepticism, objectivity, and attention to detail.
  • Ability to analyse complex business processes and identify root causes of control weaknesses.
  • Strong interpersonal skills with the ability to build effective working relationships while maintaining independence.
  • Good planning, organisational, and time management skills with the ability to manage multiple assignments.
  • Proficiency in Microsoft Office applications and data analysis tools.
  • High ethical standards, integrity, confidentiality, and professional conduct.
  • Willingness to travel to branches and other Bank locations as required.

PROFESSIONAL CERTIFICATION

  • CPA (K) or ACCA mandatory.
  • CIA, CISA, CRMA, CFE, or equivalent certification is a strong advantage.