Background

Kenya Reinsurance Corporation Limited (Kenya Re) is the oldest Reinsurer in Eastern and Central Africa. It was established through an Act of Parliament in December 1970 and commenced business in January 1971. Kenya Re’s core activity is providing reinsurance services for most classes of business. Since its inception, Kenya Re has progr...

Job description

To provide independent and objective audit assurance and advisory services to the Board, the Group Managing Director and other stakeholders on whether the Corporation’s resources and assets are utilised efficiently and for the intended purposes, internal controls are effective and/or efficient, and risk management and corporate governance processes are sound and well managed, in line with the requirements of a Government-Owned Entity. In areas of weakness in governance, risk management and internal controls, provide pragmatic recommendations on their improvement in line with achieving the Corporation’s strategic objectives. Reports to: Functionally to the Board Audit Committee; Administratively to the Group Managing Director

Requirements

Academic Qualifications

• Bachelor’s degree in commerce, Business Administration (Finance or Accounting), Business Management (Finance or Accounting), Economics, Strategic Management or an equivalent qualification from a recognised institution.
• Master’s degree in commerce, Business Administration (Finance or Accounting), Business Management (Finance or Accounting), Strategic Management or an equivalent qualification from a recognised institution.

Professional Qualifications

• Certified Public Accountant (CPA-K) by KASNEB or equivalent from a recognised institution.
• Certified Information Systems Auditor (CISA).
• Registered member in good standing of the Institute of Certified Public Accountants of Kenya (ICPAK), ISACA, or the Institute of Internal Auditors (CIA).
• Leadership course lasting not less than four (4) weeks from a recognised and accredited institution.
• Proficiency in computer applications.

Experience

• At least fifteen (15) years’ relevant work experience, ten (10) of which must have been in a senior management or supervisory position.
• Demonstrable team leadership experience and proven engagement with a Board of Directors or Board Committee.

Other Requirements

• Excellent interpersonal and communication skills.
• Strong planning, organising, problem-solving and decision-making skills, with the ability to work under pressure and meet deadlines.
• Strong analytical, report-writing and presentation skills.
• Proven team leadership and stakeholder management skills.
• Sound knowledge of governance, auditing concepts, internal controls and risk management principles.
• Fulfil the requirements of Chapter Six of the Constitution of Kenya.

Key responsibilities

Audit strategy and planning

• Oversee the preparation and implementation of audit policies, procedures, engagement plans and the annual internal audit work plan.
• Develop, implement and monitor the Internal audit strategy in alignment with the Corporation’s overall strategic objectives.
• Oversee the development and implementation of the strategic and annual internal audit plans, monitor and control audit projects to ensure conformity with approved plans and Global Internal Audit Standards.

Board and Audit Committee Support

• Serve as secretary to the Board Audit Committee and provide full secretarial and technical support to the Committee.
• Prepare and present internal audit reports and Board papers to the Board Audit Committee and support the preparation and presentation of Board papers across the Group as required.
• Liaise with the Audit Committee and the Group Managing Director on all internal audit matters.

Governance, Risk Management and Controls’ Assurance

• Provide advice on the effectiveness and/or efficiency of internal controls.
• Oversee the conduct of risk-based, value-for-money and systems audits to strengthen internal control mechanisms.
• Evaluate the effectiveness of the Corporation’s governance processes.
• Test compliance with controls in functional areas and report findings to management and the Audit Committee.
• Test the efficacy of the risk management systems and provide an independent and objective opinion thereon.
• Assess residual risk in audited areas and report the assessment to management and the Audit Committee.

Compliance and Reporting

• Ensure that audit findings and recommendations are clearly communicated to management through formal audit reports.
• Oversee audit compliance with all relevant laws, regulations, circulars and the Corporation’s policies.
• Ensure quarterly and annual internal audit reports are prepared and submitted promptly as required.

External Coordination and Quality Management

• Coordinate the internal audit effort with external auditors and the Office of the Auditor-General, make working papers and reports available, highlight areas of high risk and minimise duplication of audit effort.
• Serve as the key contact person with the Office of the Auditor-General on all internal audit and related assurance matters.
• Ensure the mainstreaming of quality management practices and risk management across the Corporation in line with the requirements of a Government-Owned Entity.

• Oversee the preparation and implementation of audit policies, procedures, engagement plans and the annual internal audit work plan.
• Develop, implement and monitor the Internal audit strategy in alignment with the Corporation’s overall strategic objectives.
• Oversee the development and implementation of the strategic and annual internal audit plans, monitor and control audit projects to ensure conformity with approved plans and Global Internal Audit Standards.
• Serve as secretary to the Board Audit Committee and provide full secretarial and technical support to the Committee.
• Prepare and present internal audit reports and Board papers to the Board Audit Committee and support the preparation and presentation of Board papers across the Group as required.
• Liaise with the Audit Committee and the Group Managing Director on all internal audit matters.
• Provide advice on the effectiveness and/or efficiency of internal controls.
• Oversee the conduct of risk-based, value-for-money and systems audits to strengthen internal control mechanisms.
• Evaluate the effectiveness of the Corporation’s governance processes.
• Test compliance with controls in functional areas and report findings to management and the Audit Committee.
• Test the efficacy of the risk management systems and provide an independent and objective opinion thereon.
• Assess residual risk in audited areas and report the assessment to management and the Audit Committee.
• Ensure that audit findings and recommendations are clearly communicated to management through formal audit reports.
• Oversee audit compliance with all relevant laws, regulations, circulars and the Corporation’s policies.
• Ensure quarterly and annual internal audit reports are prepared and submitted promptly as required.
• Coordinate the internal audit effort with external auditors and the Office of the Auditor-General, make working papers and reports available, highlight areas of high risk and minimise duplication of audit effort.
• Serve as the key contact person with the Office of the Auditor-General on all internal audit and related assurance matters.
• Ensure the mainstreaming of quality management practices and risk management across the Corporation in line with the requirements of a Government-Owned Entity.

• Excellent interpersonal and communication skills.
• Strong planning, organising, problem-solving and decision-making skills, with the ability to work under pressure and meet deadlines.
• Strong analytical, report-writing and presentation skills.
• Proven team leadership and stakeholder management skills.
• Sound knowledge of governance, auditing concepts, internal controls and risk management principles.
• Proficiency in computer applications.

• Bachelor’s degree in commerce, Business Administration (Finance or Accounting), Business Management (Finance or Accounting), Economics, Strategic Management or an equivalent qualification from a recognised institution.
• Master’s degree in commerce, Business Administration (Finance or Accounting), Business Management (Finance or Accounting), Strategic Management or an equivalent qualification from a recognised institution.
• Certified Public Accountant (CPA-K) by KASNEB or equivalent from a recognised institution.
• Certified Information Systems Auditor (CISA).
• Registered member in good standing of the Institute of Certified Public Accountants of Kenya (ICPAK), ISACA, or the Institute of Internal Auditors (CIA).
• Leadership course lasting not less than four (4) weeks from a recognised and accredited institution.