Internal Audit Manager DFCU Bank Uganda

REPORTING TO: Senior Audit Manager

JOB PURPOSE: Reporting to the Senior Audit Manager, the role holder will be responsible for planning and leading audit assignments at the Head Office and branch network. The job holder is expected to leverage his/her knowledge of business to lead the execution of credit/operations audits while documenting findings in a manner that is consistent with the Audit’s standards and recommending corrective action relating to internal control failures.

LOCATION: Kampala
KEY ACCOUNTABILITIES:
• Develop Audit Plans: The Audit Manager is responsible for developing comprehensive audit plans that cover all critical areas of the bank’s operations. This involves performing the bank-wide risk assessment and recommending the scope of the audit plan.
• Executive Audits: He or She leads audit engagements, coordinating with audit teams to ensure the timely and effective execution of audits. They review work papers, assess control environments, test compliance with policies and procedures, and evaluate the accuracy of financial records.
• Risk Assessment: Assesses the bank’s risk management framework, including the identification, measurement, and mitigation of risks. They provide recommendations for improving risk management processes and controls.
• Regulatory Compliance: In the highly regulated banking industry, he/she ensures that the bank’s operations comply with applicable laws, regulations, and industry standards. They stay up-to-date with regulatory changes and incorporate them into the audit planning and execution process.
• Internal Controls: Evaluate the effectiveness of internal controls across various areas of the bank, such as operations, finance, lending, treasury, and compliance. They identify control weaknesses and deficiencies, recommend improvements, and monitor their implementation.
• Report Findings: After completing audits, prepare detailed audit reports that summarize findings, recommendations, and management responses. They communicate audit results to senior management, and relevant stakeholders, emphasizing areas of concern and opportunities for improvement.
• Team Management: Oversees a team of auditors, providing guidance, mentoring, and training as necessary. They assign audit tasks, review work performed by team members, and ensure adherence to professional standards and internal audit methodologies.
• Continuous Improvement: Promotes a culture of continuous improvement within the audit function. They stay updated with industry best practices, emerging risks, and evolving audit techniques, and implement enhancements to the audit process as appropriate.
• Stakeholder Engagement: Interacts with various stakeholders, including senior management, external auditors, regulatory bodies, and internal departments. They build and maintain strong relationships, facilitate open communication, and address concerns or inquiries related to audit activities.
• Quality Assurance: Establishes and maintains quality assurance processes to ensure the effectiveness and consistency of audit engagements. They conduct periodic reviews of audit work papers, methodologies, and reports to uphold the highest standards of audit quality.
• Issue Tracking: Follow up on outstanding audit issues and document status updates in the audit software.
• Execute or lead teams on revenue assurance engagements.
• Contribute to the development of the department budget and tracking of utilization of the same.

KNOWLEDGE, SKILLS, AND EXPERIENCE REQUIRED:
• Bachelor’s degree in Commerce/ Business Administration or any other related field.
• Professional certifications such as CIA, CPA, CISA, and ACCA.
• Five years of progressively responsible professional auditing experience with at least two years in a supervisory role in the banking industry or professional services firm.
• Full understanding of Credit Risk Management, Operational Risk Management, Liquidity Risk Management, Market Risk Management, Compliance Risk Management etc.
• Working knowledge of advanced analytics tools and continuous auditing in a fast-paced environment.
• Full understanding of Global Internal Audit Standards.
• Adept at identifying emerging risks and recommending strategies to address them.
• Knowledge of the techniques, tests, and sampling methods involved in conducting audits and the requirements of auditing standards.
• Demonstrated ability to gather, analyse, and evaluate facts, and prepare and present concise reports.
• Ability to schedule and direct the activities of other staff in accomplishing the goals of the department and review work papers.
• Working knowledge of advanced analytics.
• Working Knowledge of continuous auditing and continuous monitoring.
• Good knowledge of banking and other related industry regulations.
• Good communication skills both oral and written.
• Stakeholder engagement skills
• Leadership skills
• Report writing skills
• Ethical behavior