Overview

Wealthnet Finance PLC is registered by the Reserve Bank of Malawi as a Deposit Taking Microfinance Institution. The institution is inviting applications from suitably qualified candidates to fill various positions that have fallen  vacant at its Head Office in Lilongwe.

INTERNAL AUDITOR

JOB SUMMARY 

The position functionally reports to the Audit Committee of the Board and administratively reports to the Chief Executive Officer. The Internal Auditor

must be able to demonstrate competitive knowledge of Internal and External Audits and must be able to demonstrate strong leadership in managing both business and operational Internal Audit functions.

MAIN PURPOSE

The Internal Auditor will be responsible for setting up the Internal Audit department. As a leader in the Internal Audit department, he/she will be responsible for monitoring and organizing the internal audits as per the annual audit plan of the organization. The Internal Auditor will monitor the review process and then make necessary recommendations for any change in policy, implementation of new systems and also change the audit roles and audit team structures.

DUTIES AND RESPONSIBILITIES

  • Preparing and implementing a risk-based audit plan to assess, report on, and making suggestions for improving the company’s key operational and finance activities and internal controls;
  • Leading internal audit’s change initiative by implementing action plans related to risk assessment and annual planning, audit execution, audit reporting, Internal Audit staff recruitments and development, audit technology, and Audit Committee reporting;
  • Leading Internal Audit’s annual risk assessment and enterprise risk Assessment and planning process to develop the audit plan and ensuring the plan is responsive to and aligned with the risk profile of Wealthnet Finance;
  • Overseeing the execution of individual audits as defined in the audit plan ensuring the highest level of service quality and client satisfaction is achieved;
  • Issuing all Internal Audit reports by ensuring that the reports are clear, concise, identify root causes with practical solutions, and ultimately providing value to management;
  • Meeting regularly with the Audit Committee to report the status of Internal Audit’s ongoing monitoring activities, educate/inform the Committee of emerging risks and/or exposures
  • Proactively informing Senior Management of significant risks or exposures related to internal controls, compliance, and/or governance requiring prompt attention;
  • Assisting in Risk Management with the development of the Company’s Own Risk Solvency Assessment (ORSA) report;
  • Managing the process to track, follow-up, and ultimately closing all open audit issues leveraging the Audit Committee, if necessary;
  • Actively participating in Executive Management meetings and/or committees to ensure that Internal Audit is well-informed of key business developments that could have an impact on audit priorities and/or plans;
  • Ensuring that Internal Audit is performing its work in accordance with established professional standards and remaining abreast of emerging trends and best practices that can be incorporated into the function;
  • Overseeing Internal Audit’s participation in critical technology initiatives and projects ensuring that audit’s perspective is effectively voiced and appropriate controls are designed and implemented on a proactive basis;
  • Maintaining audit technology platform leveraging support from the information systems groups as needed;
  • Coordinating the activities of external auditors including how best to leverage the work performed and results produced from Internal Audit’s work;
  • Serving as a key point person on all regulatory examinations and other audits.

COMPETENCIES 

  • Knowledge of a variety of reporting procedures, regulations and law;
  • Ability to work as part of the team;
  • Strong management and critical thinking skills;
  • Outstanding analytical and problem-solving abilities;
  • Conversant with Internal Audit systems software.

QUALIFICATIONS AND EXPERIENCE 

  • A Bachelor’s Degree in Auditing/ Accounting/ Finance or other closely related qualification from a reputable and accredited institutions;
  • Certified Internal Audit (CIA).
  • Five (5) years’ practical experience in internal auditing and at least 3 years in Management.
  • Those who have worked in an external audit firm are encouraged to apply.

Suitably qualified and experienced candidates should send their applications, including a detailed Curriculum Vitae and names of three traceable referees not later than 19th May, 2022 to the following address:

The Human Resource and Administration Manager

Wealthnet Finance Plc

Private Bag B445

Area 6/150

Lilongwe.

VERY IMPORTANT NOTE: Please indicate your expected salary and benefits in the application letter.