JOB DETAILS:

JOB ROLE/ PURPOSE:
Ensuring improvement of the SACCO’s operations in terms of; Governance, day to day operations, internal control systems and compliance to the laws and Regulations
Reporting functionally to the Board and Supervisory committee and administratively to the Managing Director

PRICIPAL ACCOUNTABILITIES SPECIFIC ACTIVITIES
1. Review the credibility and integrity of financial statements
1. Ensure the financial statements of the SACCO have been prepared in accordance with the IFRS, IAS and the SACCO Societies Act. This will also ensure that all the disclosure requirements in accordance with the rules and regulations are also met.
2. Ensure that the loans of the SACCO are all documented and the necessary steps were followed in awarding the loans. The process of loan awarding should be and seem to be professional.
3. Ensure that the fixed assets of the SACCO have been safeguarded, their physical condition is proper, they exist and they are correctly valued. This includes checking the physical presence, the depreciation policies and analysing their effectiveness and whether they are properly insured.
4. Analyse the investments made by the SACCO to ensure that the investment policy was followed, the investments are safe, they don’t exceed such a proportion of the prudential standards that have been set and such investments have been made for the good of the SACCO.
5. Ensure that the information contained in the financial statements is complete and reliable for effective decision making.

2. Review all processes for conformity and ensure compliance to all appropriate regulations
1. Check that all activities done by the SACCO are in conformity with and does not contravene any of the existing laws and Regulations.
2. Review the economic efficiency and effectiveness in the utilization of the SACCO resources so that its objectives are achieved.
3. Investigate allegations of fraud, and reviewing fraud prevention controls and detection processes put in place by management, making recommendations for improvement and on corrections or enhancements needed to maintain and improve effective and compliant operations.
4. Maintaining files and supporting documentation for audits and other assignments.
5. Identifying and qualifying key business risks estimating the probability of occurrences and the impact on the SACCO and making appropriate recommendations.
6. Perform duties of the secretary of the supervisory committee.

3. Review the adequacy, design and effectiveness of the Internal Control Systems
1. Analyse the accounting system being used by the SACCO and ensure one official cannot originate and complete a transaction. There should be a well-defined segregation of duties.
2. Ensure that the assets of the SACCO are all documented and they are well kept. Not all officials of the SACCO should be able to access its assets.
3. Ensure that every department in the SACCO has a policy on its functions; the policy should be complete and is followed in the day to day operations.
4. Coordinate work with Risk, Legal & Compliance and other control related activities and with others within Internal Audit while conducting risk assessments and identifies controls in place to mitigate identified risks.

4. Assist the BOD in the governance of the SACCO by advising on the direction in various issues
1. Ensure that the code of conduct is in place and its conditions are withheld.
2. Assisting the Board of Directors in laying down the strategic direction of the SACCO by providing feedback on the limitations of the strategic plan.

PERSON SPECIFICATIONS
ACADEMIC QUALIFICATIONS
Essential
1. Bachelor of commerce or Business Administration degree (Accounting or Finance
Desirable
1. Be a fully qualified accountant under the accountants CPA (U), ACCA and registered with ICPAU

KNOWLEDGE & EXPERIENCE
Experience
1. Minimum of 5 years audit experience in a reputable organization

Knowledge
1. Must have been involved in audit service of financial statements
2. Knowledge of various Sacco software systems an added advantage
3. Knowledge of government and other stakeholders rules and REGULATION

SPECIAL SKILLS & ATTRIBUTES
1. Be of exemplary integrity and honest
2. Have excellent communication and interpersonal skills
3. Have excellent financial analysis skills
4. Be a team player
5. Be decisive and possess quick judgment skills
6. Possess excellent business writing and presentation skills
7. Be proactive and have initiative
8. Possess analytical and critical thinking skills
9. Must be impartial in reporting

AGE LIMIT: BELOW 40 YEARS