Internal Audit and Compliance Officer
Reputable Financial Institution - Location: Lusaka, Lusaka Province, Zambia, Lusaka
A Registered Financial Institution seeks suitably qualified candidates for the Internal Audit and Compliance Officer role.
Job Title: Internal Audit and Compliance Officer
Department: Internal Audit and Compliance
Reports to: Head, Internal Audit and Compliance
The Internal Audit and Compliance Officer will support the Head, Internal Audit and Compliance in providing an independent evaluation of the activities of the Institution, centrally coordinating all audit and compliance activities within the Institution and ensuring strict adherence to the Company’s internal policies and procedures as well as regulatory and statutory requirements in order to promote transparency and accountability, add significant value, enhance risk management, governance and compliance, improve operational efficiency, and strengthen the internal control systems within the operations.
• Assist in the development, maintenance, implementation and review of the internal audit programs, audit
plan and drive the development, deployment and update/review of the charter, manual, relevant policies and
other frameworks for the Internal Audit Function.
• Establish effective business relationships within the Company and assist management in the understanding and application of and adherence to internal control, compliance and governance principles.
• Perform audits through the review of physical and electronic records, evaluate the level of compliance with established business control policies, processes, procedures, standards, laws and regulations in assigned functional areas/business units, identify control weaknesses or process improvement opportunities and initiate workable solutions.
• Document and file work papers and audit procedures performed. Track timely and effective corrective actions taken following audit recommendations.
• Maintain back up (physical and electronic) of all internal audit materials for easy retrieval and reference and monitor the document management process across the Institution.
• Monitor and drive compliance with regulatory and statutory requirements across all business areas.
• Investigate and report all alleged cases of fraud, waste, abuse and inefficiencies and make
recommendations on appropriate preventive or remedial actions.
• Implement the internal audit strategic initiatives relating to key responsibilities.
• Carry out other responsibilities as may be required by the Head, Internal Audit and Compliance, management or Board.
• Good verbal and written communication skills
• Computer Literacy
• Analytical and Critical Thinking Skills
• Hard work and Quality Focus
• Honesty and Reliability
• Collaboration and Resilience
• Objectivity and Independence
• Passion and Commitment
• Innovation and Attention to Detail
• Information Technology (IT) General Knowledge
• Result-oriented and Accountability
• Minimum of first degree in Accounting.
• Relevant professional certification e.g. Association of Chartered Certified Accountants (ACCA), Zambia Institute of Chartered Accountants.
• Minimum of 2 years of experience in the internal control/audit function of a similar organisation.
KEY PERFORMANCE INDICATORS (KPI)
• Adequacy of internal audit plan.
• Level of execution/achievement against internal audit plan.
• Accuracy, timeliness, and completeness of reports.
• Number and significance of issues/ inconsistencies and process improvement opportunities identified in business processes.
• Frequency of incidences of control failure.
• Adequacy and timeliness of follow-up on regulatory and statutory filings.
• Magnitude of calculated losses due to fraud and other control failures.
• Number or frequency of queries.
• Number of unresolved cases to identified issues.
• Adequacy of document management.