I&M Bank Uganda is a commercial bank headquartered at Kingdom Kampala with a growing regional presence. The Bank offers a wide range of commercial banking and financial products and services, and prides itself on introducing innovative products and services based on the needs of its customers. We are seeking to recruit a competent and highly motivated individual with extensive experience and abilities to support business growth in the following position:
JOB TITLE: SENIOR MANAGER INTERNAL AUDIT
LOCATION: HEAD OFFICE
REPORTS TO: CHIEF AUDIT EXECUTIVE
JOB PURPOSE
To manage and direct the activities of the internal audit Function in the Bank to ensure delivery of value-added assurance and advisory services to Board and Management in the areas of risk management, control & governance to ensure the achievement of the overall strategic objectives of the Bank. The purpose of the role to assist the bank in reaching its goals by determining that sufficient controls exist and are functioning to ensure, as far as is practical, the orderly and efficient conduct of the business
KEY RESPONSIBILITIES:
- Plan the delivery of assigned audits to a high quality and in line with Key Performance Indicators as per the methodology. This will include adequate resourcing scheduling, meeting key deliverables in terms of audit timelines and review of audit work to confirm that the minimum requirements as per methodology are met.
- Develop a detailed knowledge of the methodology by attending training sessions to ensure that approved audits are risk focused.
- Act as a mentor for auditors and peers to provide guidance to ensure that their work exceeds quality standards.
- Contribute to the annual planning process as requested by the Chief Internal Auditor by providing feedback and knowledge in terms of business. This will include identifying auditable entities, assessing the audit needs assessment and preparing all Management Information reports required.
- Develop and maintain relationships with accountable stakeholder management on each audit.
- Engage with Internal Audit colleagues during assignments and request technical assistance where required. Technical assistance may include the review of key risks and controls, review of working papers and audit reports.
- Perform audits and issues assurance within Key Performance timelines and resource budget.
- Proactively provide on-the-job training to the audit team for the audit toolkit – Audit Bond and confirm through inspection of the audit work that the results of audit work are completed, updated and approved as required by the Quality Assurance scorecard.
- Develop testing strategies for key controls within the business to adequately mitigate the risks.
- Manage the execution of Design Effectiveness Testing and Operational Effectiveness Testing of the audit team in line with methodology requirements and
- Based on the reviews performed, provide effective feedback to audit staff during the audit assignment to confirm that working papers are completed in line with the internal methodology.
- Engage with management and auditors on progress of audit and to provide regular feedback on issues identified where the control has failed.
- Proactively take on additional tasks as delegated by the Chief Internal Auditor.
- Establish effective relationships and fully engage colleagues during audit reporting.
- Use business knowledge to assess evolving risks, write high quality reports with observations which are insightful, address the root cause, have agreed actions that fully mitigate the risk, support the Issues Assurance process and require no further audit work to support them.
- Raise observations as early as possible and agree actions before completion of fieldwork and write concise, accurate Executive Summaries.
- Deliver high quality audit reports, aligned to the IA methodology, which include all significant issues identified in the audit.
- Review management action plans to confirm that the identified risks associated to the control failure are adequately mitigated. Actions plans are to be specific, measurable, timely, achievable and realistic.
- Deliver high quality reports for the Board Audit Committee meetings and engagements with regulators
- Mentor and coach less experienced team members by providing guidance around the methodology and audit process.
- Support Internal Audit management team to identify, attract, develop and retain talent on an on-going basis.
- Manage the teams that assigned to the audit effectively by delegating audit work to empower each individual team member.
- Provide timely feedback to address development areas and recognise quality and audit achievement.
- Provide constructive, timely and balanced feedback to audit team members, peers and Chief Audit Executive.
- Manage an audit team to ensure effective delivery of the audit.
- Develop a high performing team by embedding formal performance development and informal coaching. Encourage frequent knowledge sharing between team members.
- Interview and recruit new members of the team, including determining appropriate compensation levels with input from Human Resources.
- Improve technical knowledge through self-learning or training including mandatory continuous Professional Education requirements.
- Share knowledge in area of responsibility with the team to ensure that audit activities are planned effectively and completed in line with quality standards and audit methodology.
- Present effectively at stakeholder meetings and forums (eg: Risk and Governance Forums etc.) by sharing knowledge and information, including methodology, standards, changes and new developments, with business stakeholders on an ongoing basis.
- Perform all other duties as reasonably assigned.
KEY PERFORMANCE INDICATORS:
- Fraud Loss kept within the prescribed fraud loss tolerance limit.
- Completeness and accuracy of audit reports
- Timely preparation, communication and implementation of audit plans.
- Timely execution of audit follow-ups and recommendation to Board and management for the necessary action (s)
- Implementation of special investigations in a timely and effective manner.
- Integrity of the GL accounts.
- Quality and Timeliness of losses and loss events reporting in the different functions in the Bank.
- Improvement of overall internal ratings of the various units in the Bank.
- Accuracy of reports to BOU and other regulatory organs of the Bank
- Exceptions observed in peer review, control adequacy checks
- Undetected Income leakage/P&L reversal arising from undetected processing errors in the branches and units in the Bank.
- Quantum of undetected regulatory/statutory infractions from Inspection, External Audit, Group Auditors, BOU and other regulatory reports for business offices in the region.
- Quantum of undetected internal policy and procedure infractions from Inspection, External Audit, CBN, NDIC and other regulatory reports for business offices in the region.
Minimum Education Qualification and Experience
- Significant auditing experience and / or working at amanagement level in the financial services sector with a proven track record.
- Exposure to managing teams to deliver against tight deadlines.
- Significant report writing and presentation experience.
- Exposure to consultation and facilitation.
- Educated to degree level or relevant professional qualification such as
- CPA is a must. or ACCA, CIA CISA and or business or risk related degree / qualification (or equivalent) is an added advantage.
- Preferred:
- Audit experience within a banking environment
- Experience in negotiation/influencing.
- 7 years relevant work experience with minimum 4 years at middle management level in the Audit field.
Note: Deadline for this job posting is 05 Jan 2025 at 5:00pm and only shortlisted candidates will be contacted
