Internal Auditor
Nairobi, Nairobi, Kenya
Full Time
Experienced
About Umba
Umba is a pan-African digital bank serving customers in both Kenya and Nigeria. Our mission entails providing accessible and cost-effective financial services across Africa, enabling our customers to take charge of their financial well-being. We are committed to seizing a unique opportunity to transform the financial landscape in Africa by harnessing the power of machine learning to develop intelligent, affordable financial products tailored for emerging markets. Our machine learning models are continuously improving, and we leverage AI and automation to deliver banking solutions at the lowest possible cost to our expanding customer base.
Umba is headquartered in Nairobi Kenya. Our primary focus is to offer a comprehensive range of digital banking products through Android, iOS and Web Apps, and we take pride in our culture of consistently surpassing customer expectations, which has fueled our rapid expansion.
Umba acquired a deposit taking microfinance bank in Kenya in 2023, which has now been named Umba Microfinance Bank. The bank has achieved fast growth since launch with average monthly growth rate of 19% and 6x revenue growth in 2024.
We are actively seeking outstanding individuals who not only possess exceptional talent but also share our vision, determination, and sense of purpose. Join us in our endeavor to establish the best digital bank in Africa.
Job Summary
The Internal Auditor is responsible for independently assessing the effectiveness of internal controls, risk management, and governance processes across all departments of the bank. This role ensures compliance with regulatory requirements, identifies operational and financial risks, and provides recommendations to enhance efficiency, accuracy, and integrity of operations.
Responsibilities
Audit Planning & Execution
Umba is a pan-African digital bank serving customers in both Kenya and Nigeria. Our mission entails providing accessible and cost-effective financial services across Africa, enabling our customers to take charge of their financial well-being. We are committed to seizing a unique opportunity to transform the financial landscape in Africa by harnessing the power of machine learning to develop intelligent, affordable financial products tailored for emerging markets. Our machine learning models are continuously improving, and we leverage AI and automation to deliver banking solutions at the lowest possible cost to our expanding customer base.
Umba is headquartered in Nairobi Kenya. Our primary focus is to offer a comprehensive range of digital banking products through Android, iOS and Web Apps, and we take pride in our culture of consistently surpassing customer expectations, which has fueled our rapid expansion.
Umba acquired a deposit taking microfinance bank in Kenya in 2023, which has now been named Umba Microfinance Bank. The bank has achieved fast growth since launch with average monthly growth rate of 19% and 6x revenue growth in 2024.
We are actively seeking outstanding individuals who not only possess exceptional talent but also share our vision, determination, and sense of purpose. Join us in our endeavor to establish the best digital bank in Africa.
Job Summary
The Internal Auditor is responsible for independently assessing the effectiveness of internal controls, risk management, and governance processes across all departments of the bank. This role ensures compliance with regulatory requirements, identifies operational and financial risks, and provides recommendations to enhance efficiency, accuracy, and integrity of operations.
Responsibilities
Audit Planning & Execution
- Develop and execute a risk-based internal audit plan aligned with the bank’s strategic and regulatory objectives.
- Conduct audits in departments such as Finance and Operations, Credit, Business Development, Risk and Compliance, HR, and ICT.
- Evaluate the effectiveness of financial systems, internal controls, and business processes.
- Assess compliance with internal policies, procedures, and industry best practices.
- Prepare detailed audit reports highlighting findings, risks, and areas of non-compliance.
- Recommend corrective actions to strengthen internal controls and mitigate risks.
- Present audit findings to senior management and the Audit Committee.
- Monitor implementation of audit recommendations to ensure timely resolution.
- Conduct ongoing risk assessments across departments.
- Identify and evaluate potential operational, financial, and compliance risks.
- Ensure the bank’s risk response and mitigation strategies are adequate and effective.
- Assess compliance with regulatory requirements, including CBK, AML, KYC, and data protection regulations.
- Conduct spot checks, and internal reviews to detect compliance breaches.
- Work closely with the Compliance Officer to identify and address compliance gaps.
- Test and review the bank’s internal controls including authorization procedures, segregation of duties, and access controls.
- Identify weaknesses and propose enhancements to improve control environments.
- Evaluate IT controls related to data protection, cybersecurity, and system integrity.
- Identify process inefficiencies and recommend improvements to enhance effectiveness.
- Support departments in implementing improved controls and streamlined processes.
- Contribute to the development of Standard Operating Procedures (SOPs).
Qualifications & Experience
- Bachelor’s degree in Accounting, Finance, Business, or a related field.
- Professional certification such as CPA, CIA, CISA, ACCA (required or in progress).
- Minimum 5 years’ experience in internal audit, preferably in the financial services sector.
- Strong knowledge of internal controls, banking operations, risk management, and regulatory requirements.
- Familiarity with CBK prudential guidelines and audit software tools is an added advantage.
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