Internal Auditor

About

Reporting to the Internal Audit Manager, the role holder will provide independent, objective assurance and advisory services on the adequacy and effectiveness of governance, risk management and internal control processes for CIC Asset Management Limited (CICAM) across the Group. The role requires a relevant bachelor's degree, at least one listed professional qualification, and at least four years of relevant experience including asset/investment audit and Big 4 experience. Duty station: Nairobi

How to apply

Apply online through the official advert page on CIC Careers at https://careers.cicinsurancegroup.com/, clearly indicating the position being applied for. Upload Resume/CV and Certificate in one PDF file.

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Responsibilities

• Develop and execute risk-based audit programmes covering asset management and investment activities.
• Conduct end-to-end audits of investment portfolios, investment products, fund management and investment operations.
• Identify root causes of investment control weaknesses, regulatory breaches and operational risks.
• Prepare clear, evidence-based audit reports with practical recommendations and management action plans.
• Present significant investment audit findings and risk exposures to the Internal Audit Manager and / or Director, Internal Audit.
• Monitor implementation of audit recommendations and conduct regular follow-up reviews.
• Provide independent advisory input on new investment products, investment platforms and changes in investment management processes.
• Audit investment portfolio management activities, including asset allocation, investment selection and portfolio rebalancing.
• Evaluate compliance with approved investment strategies, investment mandates, and investment policy statements.
• Review investment decisions to establish whether they are supported by appropriate research, financial analysis, due diligence and authorized approvals.
• Assess compliance with investment limits, asset allocation thresholds, concentration limits and regulatory investment restrictions.
• Audit investment portfolios comprising equities, government securities, corporate bonds, money market instruments, deposits, collective investment schemes and other alternative investments, as applicable.
• Review portfolio performance measurement, benchmark selection, investment returns, yields and attribution analysis.
• Assess the adequacy of monitoring and escalation of investment performance deviations and portfolio breaches.
• Audit compliance with the Capital Markets Act and applicable CMA regulations, guidelines, circulars and directives.

Qualifications

• Bachelor's degree in Finance, Accounting, Economics, Investment Management, Actuarial Science or a related discipline.
• Candidates must possess at least one of the following: Certified Public Accountant (CPA-K).
• Certified Internal Auditor (CIA).
• Association of Chartered Certified Accountants (ACCA).
• Certified Investment and Financial Analyst (CIFA).
• Additional qualifications in Financial Risk Management (FRM), Information Systems Auditing (CISA) or Risk Management Assurance (CRMA) will be an advantage.
• Membership to a professional body will be an added advantage.
• Minimum of 4 years of relevant professional experience, with at least 2 years of direct experience in auditing asset management, investment management, fund management or investment operations and 2 years’ experience in the big 4 audit firms.
• Practical exposure to auditing investment portfolios and investment transactions.
• Demonstrable understanding of financial markets and investment products.
• Insurance Professional Qualification is desirable.