Director Internal Audit job at Insurance Regulatory Authority

Vacancy title:
Director Internal Audit

[ Type: FULL TIME , Industry: Insurance , Category: Accounting & Finance ]

Jobs at:

Insurance Regulatory Authority

Deadline of this Job:
18 August 2022  

Duty Station:
Within Kenya , Nairobi , East Africa

Date Posted: Friday, July 29, 2022 , Base Salary: Not Disclosed

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JOB REF: DIA/04 - Director Internal Audit

Job Description
JOB TITLE Director Internal Audit
DIRECTORATE Directorate of Internal Audit
IMMEDIATE SUPERVISOR The Board Audit Committee – Functionally
Chief Executive Officer – Administratively
TERMS OF SERVICE Five (5) years Contract renewable once subject to performance

a) Job Purpose
The position is responsible for providing strategic leadership and oversight in the provision of independent and objective assurance to the Board and Management of IRA on the effectiveness of the Authority’s risk management, control, and governance processes as provided for in the Public Finance Management Act. It is also responsible for leading audit consultancy services designed to add value and improve the Authority’s operations.

b) Job Specifications /Key responsibilities Duties and responsibilities will entail:
I. Managerial / Supervisory Responsibilities
i) Provide leadership in developing the Internal Audit charter and Policies and Procedures Manual for approval by the Board and guide the
Directorate in execution of its mandate ii) Oversee development of an Internal Audit strategy and Annual Work
Plan for approval by the Board; to guide the Directorate’s work; iii) Ensure there is an effective risk-based audit system.
iv) Review governance mechanisms of the entity and mechanisms for transparency and accountability with regard to the finances and assets of the Authority to ensure efficient, effective and economic use of resources;
v) Coordinate the conduct of risk-based, value-for-money and systems audits aimed at strengthening internal control mechanisms that could have an impact on achievement of the strategic objectives of the
Authority; vi) Oversee the verification of existence of assets administered by the
Authority and ensure there are proper safeguards for their protection;
vii) Coordinate providing of assurance that appropriate institutional policies and procedures and good business practices are followed by the
Authority; viii) Evaluate the adequacy and reliability of information available to Management for making decisions with regard to the Authority and its operations;
ix) Direct the review and evaluation of budgetary performance, financial management, transparency and accountability mechanisms and processes in the Authority;
x) Have a duty to give reasonable assurance through the audit committee on the state of risk management, control and governance within the organization;
xi) Direct the review of effectiveness of the financial and non-financial performance management systems of the Authority;
xii) Present Board papers on audit work performed for deliberation by the Board Audit Committee and receive guidance to enhance performance of the Authority; operational
xiii) Coordinate special assignments based on requests from the Board and Management for consulting and related services, to enhance and protect organizational value;
xiv) Coordinate development, implementation, monitoring and evaluation of the risk management framework across the Authority to ensure adequate mitigation of risks;
xv) Provide assurance to the Board and Management on the state of governance, risk management, and control processes within the organization;
xvi) Undertake performance management, training and development, coaching and mentoring and welfare for staff of the Directorate. xvii) Provide oversight of the Directorate’s implementation of Quality
Management System, risk management and knowledge management; xviii) Oversee development, implementation and review of the Directorate’s annual budgets, annual work plans, procurement and disposal plan in compliance with the applicable laws and regulations.

II. Operational Responsibilities / Tasks
i) Direct the implementation of the annual audit work plan in consultation with Management and Board Audit Committee;
ii) Serve as Secretary to the Board Audit Committee;
iii) Ensure maintenance of professional standards in the Directorate to ensure credibility of assurance, advice and insight provided;
iv) Ensure audits are completed on schedule and reports shared with
Management for implementation of agreed action;
v) Oversee monitoring of progress and effectiveness of action taken to implement audit recommendations raised from internal and external audits;
vi) Present to the Board a written assessment of the effectiveness of the system of internal controls and risk management;
vii) Monitor and report on the implementation of Board resolutions;
viii) Review and coordinate implementation of the internal audit charter based on the emerging trends;
ix) Assess and report on the progress made by the Authority in achieving strategic plan objectives and performance contract targets;
x) Liaison between the Board Audit Committee and the External Auditor;
xi) Advise Management on governance, risk management and internal
control processes;
xii) Assess and report on the Authority’s compliance with rules and
xiii) Direct the implementation of the quality management system and ensure compliance with the Directorate’s standard operating procedures;
xiv) Supervise, appraise, coach and mentor staff in the Directorate; and xv) Identify and recommend staffing and training needs of the Directorate.

c) Persons Specifications:
i) Masters degree in Business Administration, Risk Management or any other recognized equivalent qualification from a recognized University or Institution.
ii) Bachelor’s Degree in Accounting, Finance, Business Administration, Computer Science or any other relevant qualification from a recognized University or Institution.
iii) Professional qualification in CPA, ACCA, CIA, CISA or any other relevant certifications from a recognized Institution.
iv) Member of the Institute of Internal Auditors, Institute of Certified Public
Accountants, ISACA or any other relevant professional body
v) Twelve (12) years relevant experience eight (8) of which should be in management position.
vi) Leadership Course lasting not less than four (4) weeks
Management Course lasting not less four (4) weeks
vii) Certificate in Computer Proficiency
viii) Meets the provisions of chapter six of the Constitution

d) Competencies and skills
i) Strategic leadership skills
ii) Strong communication and reporting skills;
iii) Strong analytical and numerical skills;
iv) Strong organization and interpersonal skill;
v) Mentoring, coaching and leadership skills;
vi) Conflict management; and
vii) Ability to work under pressure, prioritize and multi-task.  

Work Hours: 8

Experience in Months: 144

Job application procedure
Suitably qualified and experienced individuals should submit applications enclosing a detailed curriculum vitae (CV), copies of relevant academic and professional certificates/testimonials and a copy of National Identity Card.

The CV must at the minimum provide details of the applicant's email address, day-time mobile telephone numbers, details of current employer, current remuneration and names and contacts of three (3) referees familiar with the applicant's professional background and experience.

Applications, addressed to the undersigned, may be delivered at the Insurance Regulatory Authority (Registry Section) at Zep Re Place, 2nd Floor, Longonot Road, Upper Hill. Please note that these should be sealed, marked "Confidential” and indicate the job reference (e.g. REF: DS/01" for Director Supervision).
Alternatively, they may be sent by post or email to:

Commissioner of Insurance & Chief Executive Officer
Insurance Regulatory Authority
Zep-Re Place
P.O Box 43505-00100 Nairobi

Applications must be received not later than Thursday, 18th August, 2022 at 5.00pm.
Compliance Requirement:
In accordance with The Employment (Amendment) Act, 2022, the Authority will require candidates it wishes to enter into a written contract of service with to comply with Chapter Six of the Constitution by submitting mandatory compliance and clearance certificates from the relevant entities.
IRA is an Equal Opportunity Employer committed to diversity and gender equality. Canvasing in any manner shall lead to automatic disqualification.

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Job Info
Job Category: Accounting/ Finance jobs in Kenya
Job Type: Full-time
Deadline of this Job: 18 August 2022
Duty Station: Nairobi
Posted: 29-07-2022
No of Jobs: 1
Start Publishing: 29-07-2022
Stop Publishing (Put date of 2030): 29-07-2065
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