Summary
Date Posted: Friday, June 03, 2022 , Base Salary: Not Disclosed

JOB DETAILS:
Job Title Internal Audit Manager
Grade TBA
Incumbent Reports to
Department Finance & Operations
Location Lusaka
Date Last Reviewed

Context of the Role
Zambian Financial Sector Limited (FSD Zambia) is a Zambian organisation working closely with key players throughout the economy to ensure that all Zambians are financially healthy, particularly the most excluded and underserved. We help rural families, women, youth, low income people, and other households in Zambia to understand and access a wide range of sustainable, comparable and affordable financial services. To expand financial inclusion, we collaborate with both public and private sector institutions to make financial markets work better. FSD Zambia enhances trust between clients and suppliers of financial services by helping to increase their understanding, expand innovation, and lower costs. In this way all women, men, girls and boys can learn about, choose, and use a wide range of financial services according to their needs. FSD Zambia enjoys the active support of financing partners UKAid, Swedish Sida, Comic Relief and the Rural Finance Expansion Programme (RUFEP).

Job Purpose
The Internal Audit Manager is responsible for providing high quality internal audit and fraud management services to FSD Zambia at an operational and strategic level which meet recognized international standards, and which adds value to FSD Zambia.
The Internal Auditor is responsible for examining and evaluating the adequacy, effectiveness and efficiency of organisations internal control systems and procedures, and recommending corrective actions improve operations, enhance internal controls and reduce costs where possible. The Internal Audit Manager will perform audits in conformance with the institute of Internal Auditors.
S/he will work closely with the Finance and Operations, Programme and other teams to ensure efficient support is given to enhance the governance, risk management and internal control environment and activities within FSD Zambia. In addition, s/he will promote and instill a culture of risk management & compliance throughout FSD Zambia and its partners. Under the direction of the Audit and Risk Committee, s/he will oversee adherence to internal policies and procedures, regulations and compliance with donor requirements, ensuring that any non-conformities are documented, investigated and resolved at the same time achieving value for money.

Key Competencies
Planning and Coordination
• Ability to plan work in an orderly and timely manner to optimise resource use.
• Ability to coordinate well with technical and operational staff.
Compliance
• Thoroughness in checking that policies and procedures are being followed at all times
• Ensuring that audit recommendations are being implemented
• Able to audit automated financial systems(ERP)
Communication
• Strong communicator with excellent written, oral and presentation skills
• Excellent reporting
Financial acumen
• Ability to develop, monitor and manage audit works
• Ability to read and understand financial statements
• Ability to apply application reporting standards when conducting audit works and controls
• Knowledge of donor rules and regulations
• Knowledge of multi-currency reporting
Administration
• Excellent electronic and hard copy record keeping skills
• Highly organised and computer literate, detail driven

Minimum Qualifications and Experience
Qualification
• Advanced degree in accounting/Finance
• Grade 12 certificate
• Professional certification in accounting/Finance/Audit e.g., Full ACCA, CA and CIMA
• Masters will be an added advantage
• Should be a fully qualified Chartered Accountant
Years of Experience
At least five (5) years of relevant work experience gained in a closely related field

Professional
Registration Body
Membership to the Institute of Internal auditors

Skills
• Good understanding of the Institute of Internal Auditors (IIA) audit standards, GAAP and IFRS
• High level of computer skills, ability to audit financial and budgeting systems including ability to learn new applications quickly
Scope of Work

Corporate level responsibilities
• Apply the highest standards of controls and risk management practices and behaviours and embed a positive risk and control culture.
• Demonstrate prudence, sound judgement and appropriate and timely escalations in management of all types of risks (including fraud risk) applicable to the role.
• Understand and comply with the relevant end-to-end processes including applicable risk and controls.
• Contribute to the development/revision of tools and procedures to document and share knowledge, incentivise staff/teams and enforce compliance and standards.
• Participate in regular informal and formal reflection, knowledge sharing and learning events.
• Document lessons learned and best practices for knowledge sharing and learning.
• Promote and adhere to FSDZambia’ s core values and ensure compliance with organisations policies and procedures.
• Maintain zero tolerance to bribery, fraud and corruption, and ensure immediate reporting of any corruption or suspect behaviour that threatens FSD Zambia’ s reputation.
• Internal Audit Strategy Implementation
• Setup the internal audit department as this is the new function of organisation
• Develop and internal audit manual
• Ensure all internal audit activities are carried out in accordance with set policies and procedures/methodology.
• Manage the execution of audits of internal controls embedded within FSD Zambia processes and activities and in accordance with audit programs.
• Conduct due diligence for new partners and spot checks where applicable
• Ensure compliance with professional standards and guidelines of the Institute of Internal
• Auditors
• Conducting Audits
• Conduct assignment risk assessments in collaboration with the other thematic areas to ensure effective and efficient allocation of internal audit resources.
• Appropriately define audit scope, objectives and approach for each audit assignment.
• Liaise with key stakeholders in the planning and delivery of the internal audit engagements discussing the fundamentals of the engagement at each stage of the audit engagement.
• Develop and maintain a thorough understanding of FSD Zambia’ s policies and procedures.
• Perform audit procedures to test compliance with or suitability of policies.
• Perform audit assignments that encompass governance, risk management and internal control assessments to ensure set objectives and timelines are met. Identify and effectively communicate recommendations for improvement.
• Document process flows and walk through testing during audit engagements and in accordance with the internal audit methodology.
• Manage the audit work papers and ensure electronic audit files are in accordance with the
• Institute of Internal Auditors’ Standards.
• Timely monitor the implementation by management of audit recommendations, including reperforming procedures to validate managements remedial actions. Timely escalate unresolved issues where appropriate to the Finance and audit committee.
• Support partners with fraud and internal control capacity building where applicable
• Obtain timely feedback and monitor performance of internal audit and fraud related engagements from the clients in order to identify potential performance needs and proactively address requests from stakeholders
• Fraud and risk management
• Develop, monitor and support the implementation of the fraud policy.
• Conduct ad-hoc and investigative assignments where required in line with the stipulated methodology and timelines.
• Reporting
• Manage auditee/client needs and expectations.
• Prepare a risk-based annual audit plan to be presented to the Senior Leadership/Management Team for their endorsement and the Finance and Audit Committee of the Board of Directors for their review and approval.
• Ensure that audit reports are timely, factual and concise and that they provide practical recommendations for areas requiring improvement.
• Prepare monthly briefings to the Management Team and quarterly reports to the Finance and Audit Committee of the Board of Directors.
• Ensure the risk register is regularly updated with key risks and controls, risk assessments, workpapers, issues tracking updates and feedback.

Key Relationships
• Stakeholder Interactions
• Internal Relationships
• FSD Zambia CEO
• Chief Operations Officer
• External Relationships
• Audit and Risk Committee

Work Hours: 8

Experience in Months: 60

Level of Education: Bachelor Degree

Job application procedure
FSD Zambia is an equal opportunity employer. Prospective employees will receive consideration without discrimination due to disability, ethnicity, race, religion, or gender. We strongly encourage people with disabilities who have the relevant skills and experience to apply.
For the detailed job description, please download the full JD here.
Candidates are invited to submit a one-page cover letter indicating current and expected remuneration, together with a maximum three-page CV to recruitment@fsdzambia.org by close of business on 10 June 2022.
Only short-listed candidates will be contacted.

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