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Umba – Internal Audit and Risk Manager.

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Internal Audit and Risk Manager
Location: Nairobi, Nairobi, Kenya
Type: Full TimeMin. Experience: Senior Manager/Supervisor
 

About Umba

Our mission at Umba is to use machine learning to allow us to create intelligent, affordable financial products for emerging markets. Umba is life in Nigeria, expanding quickly into additional markets, offering a full suite of digital banking products to its customers through Android and iOS Apps. Our platform uses machine learning and big data to build credit scores to optimize risk exposures and allows users to apply, receive, and repay microloans and through their smartphones. Once a user creates an account, we validate their information and make lending decisions based on the information they give us and hundreds of data points we take from their smartphone with their permission. Our machine learning models are in a state of constant improvement, and we use AI and automation to deliver the lowest cost banking solutions for our growing customer base. We have built out a comprehensive data collection platform, with our data warehouse storing over 100m rows of data for accurate credit scoring.

About Umba Kenya

Umba Inc has recently acquired a majority stake in a Kenyan Microfinance Bank and is currently going through the Central Bank of Kenya approval process. Approval is expected imminently with work currently underway to transition the Bank to the Umba strategy. Operations (for the new strategy) are expected to commence in quarter one for the year 2022.

Job Description

Reports directly to the Board through the Board Audit and Risk Committee with a dotted line to the general manager. The main functions of the Internal Audit Role are to ensure that the Bank has an internal Audit plan for the year that is executed effectively, that continuous spot checks are carried out to ensure that operations are carried out in accordance to policies and procedures, that any breaches of policy are immediately reported to the Board Audit Committee, that all risks within the business are identified, have owners and have mitigating controls in place, and to create an environment where risk and control is clearly understood and is taken seriously by all staff. Furthermore, the Internal Audit Manager is expected to play an important role in inputting to the efficiency and effectiveness of the Bank.

Responsibilities

  • Responsible for presenting an annual Internal Audit Plan to the Board Audit and Risk Committee for consideration and approval,
  • The execution and reporting of results with respect to the Internal Audit Plan.
  • Ensuring that the Bank has a current and effective Risk and Control register in place.
  • Carrying out spot checks against the Bank’s Policies and Procedures and reporting the results of these spot checks to the Board Audit and Risk Committee.
  • Tracking and reporting on the progress of agreed Management Actions in relation to Internal Audits or spot checks.
  • Evaluate and assess the effectiveness and adequacy of the internal control systems.
  • Review the effectiveness of the entire risk management framework.
  • Review ICT systems, including the Core Banking system, Mobile banking services, and any other peripheral and independent systems used to process customer transactions and bank information (e.g., Payroll systems e.t.c)
  • Ensuring compliance with all regulations and reporting all breaches to management and the Board Audit and Risk Committee immediately.
  • Ensuring that all policies, procedures and process maps are current, appropriate and effective (responsible for oversight, not production which is the responsibility of the relevant business functional holders
  • Keeping abreast of all regulatory changes/ proposed changes and advising management appropriately.
  • Providing Risk Management and any other relevant training training to all staff.
  • Carry out Risk Assessments on new products and services.
  • Carry out Risk and Control assessments of all outsourced services.
  • Identify process breakdowns and operational loopholes and recommend mitigation measures and cost savings.

Qualifications and Experience

  • A Certified Pubic Accountant having completed the ACCA/CPA exams.
  • A member of the Institute of the Certified Public Accountants of Kenya (ICPAK)
  • An honors first degree from a recognized university.
  • Minimum of 5 years of Internal Audit/ Risk Management experience in a regulated Financial Institution.
  • S/He must demonstrate good knowledge of the Microfinance Act, CBK Prudential Guidelines, Risk Management guidelines, Proceeds of Crime and Anti Money-Laundering Act (POCAMLA), and banking best practice.

Work Status Valid work authorization for Kenya

How To Apply

CLICK HERE TO APPLY

Umba is proud to be an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. If you have a disability or particular need that requires accommodation, please let us know.

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