Job Title- Internal Audit Associate

Reports to- Senior Internal Auditor/Internal Audit Lead

Department- Internal Audit 

Job Purpose: 

To assist the Senior Internal Auditor in providing assurance on effectiveness of the internal controls in place to address risks in the achievement of Watu strategic and operational objectives. Additionally, the incumbent will assist in coordinating risk management, monitoring and driving compliance with regulatory and statutory requirements across all departments/ business units.

Key Responsibilities and duties

• Audit Planning and Testing Support: Assist in audit planning documentation, conduct walkthroughs and assess the internal control environment through control and substantive testing. Prepare audit testing programs and assess the adequacy of design and operation of controls associated with key risks identified.
• Audit engagement execution: Provide high quality, professional day to day execution of internal audit engagements and projects in line with firm risk management practices. Assist and support the internal audit team in all planned audits, which includes financial, operational, compliance and information technology audits
• Stakeholder interaction and discussion: Build relationships with auditees and business management on each audit.Lead discussions with auditees regarding audit observations
• Reporting and documentation: Track and manage reporting timelines and expectations. Document effective audit procedures and working papers.Prepare draft reports that clearly state the internal audit conclusions and recommendations that are backed by evidence and documented audit processes
• Corrective action tracking: Track timely and effective corrective actions taken following audit recommendations
• Audit material management: Maintain  back up (physical and electronic) of all internal audit materials for easy retrieval and reference. Monitor adherence to the document management process within the internal audit department. 
• Risk Management support: Assist in proactive enterprise wide risk management programs
• Ad hoc responsibilities: Carry out other responsibilities as may be required by the Head of Internal Audit, EA and  immediate supervisor.
• Methodology and Process Improvement: Identify opportunities to improve internal audit methodologies, tools and processes. Contribute to the continuous  improvement of the internal audit departments efficacy and effectiveness.
• Adherence to professional standards: Strict adherence to the Institute of Internal Auditors,  Institute of Certified Public Accountants Accountants of Kenya Code of ethics and Watu Code of conduct.

Key Performance Indicators

• Audit Completion Rate: At least 90% timely completion for assigned and board approved audit plan
• Reporting quality: 100% consistent compliance with auditing standards and methodology including working papers and reporting templates
• Findings significance: At least 20% of Critical, Significant, and High risk findings identified, demonstrating adequate root cause analysis and in depth understanding of processes.
• Process improvement: At least 2 key process improvements initiated out of assurance or non assurance engagements, within or outside the department but with keen interest on control environment.
• Timely follow up: 100% follow up on closure on corrective and preventive actions (CAPAs)
• Professional development: 100% compliance with minimum CPD requirements set by professional bodies such as IIA, ISACA  and ICPAK.

Qualifications

• Education level: Minimum of a Bachelors’ degree in Accounting or Finance-related field
• Certifications: A minimum of CPA Part II. Holders of CIA/CISA qualification will be highly advantaged.
• Experience: Less than 3 years’ experience in Audit, Finance, Credit, risk management or related fields

Application and Interviews

The interviews shall be on a rolling basis subject to the recruiting manager’s satisfaction with the number, quality, competencies and experiences of applicants.