With over 70 years of experience, our focus is on helping the most vulnerable children overcome poverty and experience fullness of life. We help children of all backgrounds, even in the most dangerous places, inspired by our Christian faith.
Come join our 33,000+ staff working in nearly 100 countries and share the joy of transforming vulnerable children’s life stories!
Key Responsibilities:
Head of Internal Audit and Investigation
Directly reporting to: Audit Committee of the Board of Directors/Operationally to the Chief Executive Officer
Direct supervisor of: Internal Auditor
Immediate Alternate: Senior Internal Auditor
Education/Experience
University degree in accountancy or business administration with prolonged experience in microfinance; must be a professional accountant
Special / Personal Abilities
- Determined personality with initiative and perseverance
- Capability and willingness to take responsibility and highly developed sense of rectitude
- Excellent knowledge of operational issues and proven ability to work accurately and to perform correct and reliable analyses;
- Good comprehension of micro-finance and the internal control concepts relevant to MFI
- Should have the skills and expertise to provide appropriate guidance and direction to VFT MFB on the development, implementation and maintenance of the compliance program;
- Be a good trainer, facilitator, mentor, and coach
- Good oral and written communication skills
- Proficient in MicroSoft office applications
Responsibilities:
- Help the institution accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes;
- Coordinate, monitor and facilitate compliance with existing laws, rules and regulations.
- Advice the Board of Directors and management on the adequacy of the systems, risk management and IT controls.
1.Develops and submits for approval to the Board Audit Committee an annual internal audit plan that outlines the activities to be undertaken by the Internal Audit Department during the year;
2.Carries out the procedures outlined in the internal audit plan with the assistance of the Internal Auditor and Assistant Auditors;
3.Ensures compliance to established risk management framework, inclusive of policies, procedures, and controls, and consequently, ensures compliance with statutory and regulatory requirements;
4.Evaluates the reliability of the information produced by accounting and computer systems;
5.Sign off on all operational, credit and IT system changes prior to rollout;
6.Provides an independent appraisal function of all aspects of operations;
7.Evaluates the effectiveness, efficiency, and economy of the institution’s operations;
8.Provides investigative services to line management;
9.Requires the management of the institution to implement and maintain appropriate internal control procedures and management information systems;
10.Reviews operations and transactions of the institution that could adversely affect
11.Evaluates the well-being of the institution;
12.Performs an audit of the financial statements of the institution to detect irregularities and illegal acts in the conduct of the institutional business.
13.Proposes improvements or enhancements and addition to internal control and audit policies and procedures to the Board Audit Committee;
14.Submits a written audit report to the Board Audit Committee, preferably before every scheduled Board Meeting;
15.Maintains adequate records of reports submitted and monitors whether actions to rectify the reported findings acknowledged by the Audit Committee are undertaken promptly;
16.Discusses the results of his audit with the respective unit/ branch/ department managers and advises on appropriate actions to improve conditions, if necessary; 17.Prepares and assists in the execution of the external audit as well as in examinations to be conducted by government regulatory agencies; (Note: external audit does not only refer to financial audit, such as the ones usually executed by Ernst and Young, but also to operation/institutional auditors, such as MicroRate) 18.Ensures implementation of issues raised by the external auditor’s management letters;
19.Oversees and coordinates the implementation of the compliance system of VFT MFB to existing regulations which includes the compliance program;
20.Consults with regulatory agencies for additional clarification on specific provisions of laws and regulations and/or discuss compliance findings with regulatory authorities. He may also initiate dialogues on borderline issues;
21.Supervises and reviews the work of the Internal Auditor and subsequently, the Assistant Auditor;
22.Informs all staff or concerned staff on changes in internal control and audit policies and procedures;
23.And any other duties that may be delegated by the Board Audit Committee
And any other duties that may be assigned
