Manager Internal Audit at Insurance Regulatory Authority (IRA)

The Insurance Regulatory Authority (IRA) in Nairobi, Kenya is seeking a Manager for Internal Audit. This role involves managing the internal audit strategy, ensuring effective risk management and governance processes, and supervising audits. Key responsibilities include developing policies, conducting audits, evaluating performance, and ensuring compliance. The position requires strong managerial skills and a Master’s degree. It is not a remote job as it is based in Nairobi.
The Insurance Regulatory Authority of Kenya (IRA) is the sole authority charged with regulation and supervision of the insurance industry within the Republic of Kenya. It ensures compliance by insurance/reinsurance companies, protects consumers and promotes a high degree of security for policyholders.

REF: MIA/02
Job Purpose
The position is responsible for managing implementation of an internal audit strategy that provides independent and objective assurance on the effectiveness of the Authority’s risk management, control, and governance processes; as well as audit consultancy services designed to add value and improve the Authority’s operations.
Job Specifications / Key responsibilities
The duties and responsibilities will entail:

Managerial / Supervisory Responsibilities

Initiate development of the Internal Audit charter and Policies and Procedures Manual; to guide the Directorate in execution of its mandate;
Participate in development of an Internal Audit strategy and an annual work plan for approval by the Board to guide the Directorate’s work;
Supervise the conduct of risk-based, value-for-money and systems audits aimed at strengthening internal control mechanisms that could have an impact on achievement of the strategic objectives of the Authority;
Supervise the verification of existence of assets administered by the Authority and ensure there are proper safeguards for their protection;
Supervise providing of assurance that appropriate institutional policies and procedures and good business practices are followed by the Authority;
Supervise special assignments based on requests from Management and the Board for consulting and related services, to enhance and protect organizational value;
Participate in development, implementation, monitoring and evaluation of the risk management framework across the Authority to ensure adequate mitigation of risks; and
Manage performance of direct reports to ensure achievement of objectives.

Operational Responsibilities / Tasks

Supervise review and evaluate budgetary performance, financial management, transparency and accountability mechanisms and processes in the Authority;
Review the effectiveness of the financial and non-financial performance management systems of the Authority;
Review the administration of programs and operations of the organization and recommend corrective action;
Supervise the execution of audit assignments;
Review working papers of the audit assignments;
Review internal audit reports prepared on executed internal audit work
Supervise monitoring of progress and effectiveness of action taken to implement audit recommendations raised from internal and external audits;
Monitor progress made by the Authority in achieving strategic plan objectives and performance contract targets;
Monitor and report on the Authority’s compliance with rules and regulations;
Prepare board papers on audit work performed for the Audit Committee;
Ensure compliance with the Directorate’s standard operating procedures;
Participate in development of the Directorate’s budget and procurement plans to facilitate execution of the annual work plan.
Supervise, appraise, coach and mentor direct reports; and
Ensure professional standards are maintained by direct reports.

Persons Specifications

Masters’ degree in Business Administration, Risk Management or any other recognized equivalent qualification from a recognized University or Institution.
Bachelor’s Degree in Computer Science from a recognized University or Institution.
Professional qualification in information systems audit.
Member of ISACA.
Nine (9) years relevant experience.
Management Course lasting not less four (4) weeks
Supervisory Course for not less than two (2) weeks;
Certificate in Computer Proficiency
Meets the provisions of chapter six of the Constitution

Competency and Skills

Strong communication and reporting skills;
Strong analytical and numerical skills;
Strong organization and interpersonal skill;
Mentoring, coaching and leadership skills;
Conflict management; and
Ability to work under pressure, prioritize and multi-task