Internal Audit and Compliance Manager Full Time

The Smallholder Farmers’ Fertilizer Revolving Fund of Malawi (SFFRFM) is inviting applications from suitably qualified candidates of Malawi origin to fill the position of Internal Audit and Compliance Manager tenable at its Head Office, at ULIMI House in Blantyre. The Internal Audit and Compliance Manager will be reporting administratively to the Chief Executive Officer and functionally to the Board of Trustees. The overall responsibility of the Internal Audit and Compliance Manager will be to direct, research and design the appropriate audit strategies and tests aimed at evaluating systems of internal control and procedures that are put in place to provide assurance on adequacy and effectiveness of internal control risk management and corporate governance of the organization.

1. KEY RESPONSIBILITIES

(a) Strategic Management

• Lead the development and implementation of an internal risk based audit strategy and
  annual plan for the organisation.
• Plan and conduct audits to assess controls, operational and technical efficiencies and compliance with selected policies, procedures and regulations.
• Review the effectiveness and adequacy of existing policies, procedures and internal controls.
• Champion best practice in governance, objectively assess the adequacy of governance systems and management of existing risks, comment on responses to emerging risks and propose new developments.

(b) Internal Audit and Continuous improvement

• Design, implement, test and modify controls in the organisation’s systems, to provide assurance of operational and technical efficiency at corporate level.
• Identify instances of over and under control and provide management with a clear articulation of residual risks where existing controls are inadequate.
• Keep abreast of legislative issues, new audit regulations/trends and appropriate audit direction/methodology. Discuss updates of new regulations with the CEO and relevant departments.
• Conduct periodic training workshops to promote awareness of internal controls and discuss changes in policies that will impact the organisation.
• Must demonstrate knowledge of auditing in computer systems.

(c) Risk Management and Compliance

• Provide an objective and evidence based annual opinion on the adequacy and effectiveness of all aspects of the organisation’s governance, risk management and internal control to facilitate the drafting of the annual governance report.
• Promote the highest standards of ethics and standards across the organisation based on the principles of integrity, objectivity, competence and confidentiality.
• Evaluate risk management activities for the organisation in particular, review the adequacy of key corporate arrangements including such as risk strategy, risk register, integrity, and anti-fraud and corruption strategy, corporate plan.
• Review significant partnership arrangements and major services and goods provided by third parties and the controls in place to promote and protect the company’s interests, assess whether lines of responsibility and assurance are clear.

(d) Reporting

• Prepare and present accurate internal audit reports for consideration of the Finance and Audit Committee of the Board
• Report on internal control issues and the implementation of the internal audit plan to senior management and the Board.

(e) Systems and Policy Development

• Review and make a judgement on the whole range of controls including those relating to achieving value for money and the prevention and detection of fraud and corruption.
• Provide advice on proposed developments such as major new systems and proposed initiatives to help ensure risks are properly identified and evaluated and appropriate controls built in.
• Establish logical and systematic methods of identifying, analysing, evaluating, treating, monitoring and communicating the risks associated with the organisation’s activities, functions or processes in a way that will enable the company to minimise losses and maximise opportunities.

(f) Budgeting and Reporting

• Manage budgets and costs of all the activities which he/she is accountable.
• Produce periodic monthly, quarterly and annual report on the performance of the Audit section.

(g) Leadership

• Provide leadership to the sections staff, supervise and manage their performance and development in line with the organisation’s goals, objectives, policies and regulations
• Develop a sectional annual work plan and financial budget and monitor their implementation in line with the business plan.
• Supervise, evaluate, instruct, delegate duties and tasks, directs, mentors, counsels and monitors the audit assistants and ensure staff compliance with regulations, operating procedures, policies, deadlines, and auditing standards.

2. QUALIFICATIONS AND EXPERIENCE

• A Masters’ degree in Accounting or Finance obtained from a reputable and a NCHE accredited University or a professional accounting qualification with a reputable body such as ACCA, CIMA, CA.
• Professional qualifications such as CIA, CFA and CRMA will be an added advantage; and
• A Bachelors’ Degree in Finance or Accounting obtained from a reputable and a NCHE accredited University.
• Ten years work experience, of which five years must be in a senior management position in a reputable commercial organisation.
• Must be a member of an Audit Institute i.e. Institute of Internal Auditors or a relevant professional body.

3. SKILLS AND PERSONAL ATTRIBUTES

• Understanding of Internal financial controls.
• Understanding of the Public Audit Act, Public Finance Management Act and Public Procurement Act.
• Extensive experience in Internal Auditing.
• Excellent Analytical skills
• A proven track record in the field of audit, mature and confident with the ability to interact with senior management and the Trustees in the execution of his/her duties.
• A good working knowledge of computer applications e.g. Microsoft office computer assisted audit techniques and audit software and all applicable auditing standards as promulgated by the Institute of Internal Auditors
• Excellent understanding of risk based auditing methodologies and execution of value adding audit services using such methodologies (N.B when sending your application, please indicate how you relate to the qualifications, experience and person specifications as defined in this advertisement)

4. SUBMISSION AND APPLICATION

Qualified and interested individuals should submit applications and detailed curriculum vitae with copies of certificates indicating their current postal and email addresses, telephone numbers and names of three(3) traceable referees in sealed envelopes clearly marked “Vacancy: Internal Audit and Compliance Manager” not later than 16:00 hours 25th August,2023 to:

The Chief Executive Officer
Smallholder Farmers Fertilizer Revolving Fund of Malawi SFFRFM
ULIMI House
P. O. Box 2505
BLANTYRE

Only shortlisted applicants will be acknowledged.