Overview

Job Title: Internal Audit Manager

Job location: Dar es Salaam

Mwanga Hakika Bank Limited

 

 

The Mwanga Hakika Bank Limited (MHB) was established in 2020 from the merger of three entities: Mwanga Community Bank Limited, Hakika Microfinance Bank Limited, and EFC Tanzania Microfinance Bank. Internal Audit Manager Vacancy at Mwanga Hakika Bank.

 

The Purpose of the Role:

The Internal Audit Manager will contribute to the management and monitoring of the MHB’s Internal Audit Function. The primary goal is to assure the delivery of value-added assurance and consultancy services that improve risk management, internal controls, and corporate governance while also supporting the MHB’s strategic objectives.

 

 

The Summary of the main duties and responsibilities:

  • To contribute to the formulation of a thorough, flexible, risk-based annual audit strategy that is consistent with the bank’s risk appetite and strategic aims.
  • Create and modify audit plans for specific sectors to provide comprehensive coverage of important risks and objectives.
  • To verify the effectiveness of internal control systems and ensure that they are being used correctly to reduce operational risks.
  • to conduct regular assessments of operational procedures and financial systems to ensure that they comply with applicable laws, regulations, and industry standards.
  • Provide management with feedback on internal control deficiencies and recommendations for improvement.
  • To lead investigations into questionable or fraudulent activity, collaborating with relevant departments to resolve concerns quickly.
  • Create investigation reports with actionable recommendations and monitor resolution progress.
  • Raising knowledge of risk management principles and best practices across the bank can help departments reduce operational losses.
  • To collaborate with senior management to strengthen the overall risk management framework, including identifying, assessing, and mitigating significant risks.
  • To report audit findings to the Head of Internal Audit, who will then escalate them to the Audit Committee and senior management.
  • Make sure that audit recommendations are followed and corrective measures are completed in a timely manner.
  • Create clear, succinct, and actionable audit reports that highlight potential risks and make recommendations for improvement.
  • To ensure that the bank’s operations are fully compliant with local and international regulations, legislation, and internal policies.
  • To review high-value transactions to ensure that sufficient safeguards are in place to protect the bank’s revenue and assets.
  • To analyze financial statements and audit records to ensure the correctness of bank revenue reporting and the proper application of accounting rules.
  • Monitor the implementation of action plans resulting from internal and external audit findings, ensuring that issues raised by regulators and auditors are addressed promptly and effectively.
  • To work closely with various departments to ensure that action plans based on Bank of Tanzania (BOT) examination reports and audit findings are carried out properly.
  • To facilitate professional development programs and promote continual learning among the audit team.
  • To maintain accurate documentation of audit procedures, results, and communications, and ensure that audit files are backed up by working papers and evidence.
  • To monitor and monitor the costs, pricing, and financial performance of the bank’s goods and services to ensure they are consistent with profitability and compliance goals.

 

 

The Key Competencies Required and Academic Background:

Job Qualifications & Experience:

  • A Bachelor’s degree in accounting, finance, or a related field is normally necessary; CPA, ACCA, CIA, or comparable professional certification is preferred.
  • A minimum of 5-7 years’ experience in internal auditing or a related field.
  • A proven track record in auditing, risk management, or compliance roles, preferably within the banking or financial services industry.
  • A thorough understanding of Tanzanian banking operations, financial systems, and regulatory frameworks (BoT rules, AML laws).
  • Experience working with external auditors and arranging audit reviews.
  • Knowledge of Tanzanian banking regulations, tax legislation, and compliance requirements is necessary.

 

 

The knowledge and Skills:

  • The ability to analyze complex financial data, identify hazards, and evaluate internal controls.
  • To ensure accuracy in audits and reporting by identifying discrepancies or areas for improvement.
  • The high ethical standards, including confidentiality and neutrality throughout audits.
  • Capability to prioritize activities, meet deadlines, and manage several audits effectively.
  • The ability to adapt to changes in rules, industry norms, and organizational priorities.
  • A solid understanding of financial legislation, accounting principles, and internal control structures.
  • The excellent analytic and problem-solving abilities.
  • A proficiency with auditing software and tools.
  • The ability to convey complex facts clearly.
  • The detail-oriented, proactive, and capable of working individually or with a team.
  • A strong interpersonal skills and the capacity to establish effective working connections throughout.

 

 

All interested candidates may submit their applications to Mwanga Hakika Bank | Career Page (careers-page.com). The deadline for applications is February 22, 2025.

Only the shortlisted candidates will be contacted.

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