MANAGER

Purpose of the Role

The Internal Audit Manager will assist in the management and oversight of the MHBs Internal Audit Function. The primary goal is to ensure the delivery of value-added assurance and advisory services, which will enhance risk management, internal controls, and Corporate governance, and support the MHB’s strategic objectives.

Summary of the key duties and responsibilities

• Contribute to the development of a comprehensive, flexible, risk-based annual audit plan, ensuring it aligns with the banks risk appetite and strategic priorities.

• Develop and tailor audit programs for specific areas to ensure thorough coverage of key risks and objectives.

• Verify the effectiveness of internal control systems and ensure they are being applied appropriately to mitigate operational risks.

• Conduct regular assessments of operational processes and financial systems to ensure compliance with relevant laws, regulations, and industry standards.

• Advise management on internal control weaknesses and provide recommendations for improvements.

• Lead investigations into suspicious or fraudulent activities, coordinating with relevant departments to resolve issues promptly.

• Prepare investigation reports with actionable recommendations and track resolution efforts.

• Promote awareness of risk management principles and best practices across the bank, assisting departments in reducing operational losses.

• Collaborate with senior management to improve the overall risk management framework, ensuring the identification, assessment, and mitigation of key risks.

• Report audit findings to the Head of Internal Audit for escalation to the Audit Committee and Senior Management.

• Ensure that audit recommendations are followed up on and that corrective actions are implemented on a timely basis.

• Prepare clear, concise, and actionable audit reports that provide insights into potential risks and offer recommendations for improvement.

• Ensure that the banks operations are in full compliance with local and international regulations, laws, and internal policies.

• Review high-value transactions, ensuring that proper checks are in place to safeguard the banks revenue and assets.

• Analyze financial statements and audit records to verify the accuracy of bank revenue reporting, ensuring the correct application of accounting principles.

• Track the implementation of action plans arising from internal and external audit findings, ensuring issues raised by regulators and auditors are addressed in a timely and effective manner.

• Work closely with various departments to ensure that action plans derived from the Bank of Tanzania (BOT) examination reports and audit findings are appropriately executed.

• Facilitate professional development programs and encourage continuous learning within the audit team.

• Maintain proper documentation of audit procedures, findings, and communications, ensuring that audit files are fully supported by working papers and evidence.

• Monitor and review the costs, pricing, and financial performance of the banks products and services, ensuring they are aligned with profitability and compliance objectives.

Key Competencies required and Academic background

Qualifications and Experience:

• Bachelor’s degree in accounting, Finance, or a Related Field: A degree in finance, accounting, or business management is typically required; CPA, ACCA, CIA, or equivalent professional certification is an advantage).
• Minimum 5-7 Years of Experience in Internal Audit or a Related Field: Proven track record in auditing, risk management, or compliance functions, ideally in the banking or financial services sector.
• In-depth understanding of banking operations, financial systems, and regulatory frameworks in Tanzania (BoT regulations, AML laws).
• Familiarity with working with external auditors and coordinating audit reviews.
• Familiarity with Tanzanian banking regulations, tax laws, and compliance standards is essential.

Knowledge and Skills:

• Ability to analyze complex financial data, identify risks, and assess internal controls.
• Ensures accuracy in audits and reporting, spotting discrepancies or areas for improvement.
• High ethical standards, maintaining confidentiality and objectivity during audits.
• Ability to prioritize tasks, meet deadlines, and handle multiple audits efficiently.
• Ability to adjust to changes in regulations, industry standards, and organizational priorities
• Strong understanding of financial regulations, accounting principles, and internal control frameworks; excellent analytical and problem-solving skills; proficiency in auditing software and tools; ability to communicate complex information clearly.
• Detail-oriented, proactive, and able to work independently or as part of a team. Strong interpersonal skills and the ability to build effective working relationships across.

Interested candidates are requested to submit their applications to – Mwanga Hakika Bank | Career Page (careers-page.com). The deadline for application is 22nd February 2025. Only shortlisted candidates will be contacted.

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