Head of Audit Career Placement – Opportunity Bank

Job Title:        Head
of Audit
Organisation: Opportunity
Duty Station: Kampala,
Reports to: Chairperson
Board Audit Committee
About US:
Opportunity Bank Uganda Ltd (OBUL) is a member of Opportunity
International, a global microfinance institution that provides access to
financial services in 27 Countries globally serving over 2 Million customers
with Savings, Credit and other transformational services aimed at transforming
the lives of low income earners.
Job Summary: The Head of
Audit will manage and direct the activities of the internal audit Function in
the Bank to ensure delivery of value added assurance and advisory services to
Board and Management in the areas of risk management, control & governance
to ensure the achievement of the overall strategic objectives of the Bank.
Key Duties and
Certify statutory returns to Bank of Uganda so
as to ensure accuracy and avoid penalties to the Bank
Establish an integrated risk management
framework for all aspects of risk across the Bank here by minimizing losses.
Formulate risk management policies including the
quantification of management’s risk appetite through specific risk limits
ultimately minimizing losses.
Coordinate the investigation of fraud within the
organization and creation of staff awareness to risk management so as to
minimize the operational and fraud risks and the associated financial losses.
Ensure that the Value Add of the services being
rendered by Internal Audit to the organization are rated satisfactory by all
the major internal stakeholders.
Build strong controls culture through bank-wide
control awareness workshops in order to enhance bank-wide control awareness
Ensure quick responsiveness to special and
ad-hoc requests in order to enhance Customer Value Addition.
Formulate policies and procedures for the audit
Function so as to provide guidance & governance framework of audit
activities within the Bank.
Develop and update comprehensive/annual audit
plans to ensure risk focused and value added audits are carried out.
Develop and implement Quality Assurance
Improvement Programs to ensure audit services continue to offer value added
services to the board and management.
Make recommendations and advice to board and
management for improving management controls and risk management to ensure
achievement of strategic business objectives.
Anchor the continuous review of policies and
process manuals to ensure that control measures effectively reflect the bank’s
approval and set standards.
Significantly improve the control process and
environment influenced by the extent to which individuals recognize that they
will be held accountable for their actions/inactions and failures.
Meet with management at all levels and the Audit
Committee of the Board, as necessary to discuss audit plans & results and
make recommendations to resolve audit findings requiring corrective action.
Work closely with the Head of HR function to
assist in developing and managing an effective Inspection and Audit function
that has motivated and well-trained staff for the effective performance of the
audit team at the Bank.
 Key Performance Indicators:
Fraud Loss kept within the prescribed fraud loss
tolerance limit.
Completeness and accuracy of audit reports
Timely preparation, communication and implementation
of audit plans.
Timely execution of audit follow-ups and
recommendation to Board and management for the necessary action (s)
Implementation of special investigations in a
timely and effective manner.
Integrity of the GL accounts.
Quality and Timeliness of losses and loss events
reporting in the different functions in the Bank.
Improvement of overall internal ratings of the
various units in the Bank.
Accuracy of reports to BOU and other regulatory
organs of the Bank
Exceptions observed in peer review, control
adequacy checks
Undetected Income leakage/P&L reversal
arising from undetected processing errors in the branches and units in the
Quantum of undetected regulatory/statutory
infractions from Inspection, External Audit, BOU and other regulatory reports.
Quantum of undetected internal policy and
procedure infractions from Inspections, External Audit, BOU and other
regulatory reports.

Qualifications, Skills and
The applicant must hold a first degree in
business related discipline with a minimum of a second class lower.
Full professional certification in accountancy,
risk and auditing (ACCA, CPA, ACA, CISA, CRP etc ….)
At least ten years cognate experience including
5 years supervisory experience.
Analytical and investigation skills
Good auditing and accounting skills
Comprehensive Banking Operations (Domestic and
Foreign) knowledge
A comprehensive knowledge of Treasury function.
Comprehensive Capital Market Operations
General multi Corporate Finance and Financial Strategy
The ability to achieve an appropriate balance
between the independence of the internal auditor’s role with the need to work
collaboratively with management for the betterment of the organization.
Fraud and Operational risk knowledge.
Keep abreast with current changes in the banking
industry. While doing technical audits reference from various source materials
such as: BOU Prudential guidelines, IIA, internal audit manuals
How to Apply: 
All suitably qualified and interested candidates should send their
signed application letters together with their resume not later than to;
The Human Resource Manager
Opportunity Bank Uganda
P.O. Box 33513
Kampala (Acacia Ave. Kololo)
Deadline: 27th
October 2017
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