Job Description

Responsibilities

Audit Planning and Execution

• Develop audit plans to assess the effectiveness of microcredit operations, including loan origination, credit assessment, and loan servicing.
• Conduct risk assessments to identify potential risks to the microcredit organization, including credit risk, liquidity risk, and operational risk.
•  Execute audit procedures to evaluate the accuracy and completeness of microcredit transactions, including loan disbursements and repayments.
• Evaluate internal controls to ensure compliance with microcredit regulations and industry standards.

Financial Audits

• Review financial statements to ensure accuracy and completeness, including balance sheets, income statements, and cash flow statements.
• Verify microcredit transactions, including loan disbursements, repayments and receipts issued to ensure accuracy and compliance.
•  Evaluate accounting policies and procedures to ensure compliance with relevant laws and regulations, including microcredit accounting standards.
•  Identify financial risks, including credit risk, liquidity risk, and market risk, and provide recommendations for mitigation.

Operational Audits

• Evaluate microcredit operations, including loan origination, credit assessment, and loan servicing, to ensure efficiency and effectiveness.
• Review operational controls, including authorization, approval, and monitoring processes, to ensure compliance with microcredit regulations and industry standards.
• Identify operational risks, including fraud, error, and inefficiency, and provide recommendations for mitigation.
• Recommend process improvements to enhance the efficiency and Evaluate microcredit operations, including loan origination, credit assessment, and loan servicing, to ensure efficiency and effectiveness of microcredit operations.

Compliance Audits

• Review regulatory requirements, including microcredit laws and regulations, to ensure compliance.
• Evaluate compliance controls, including policies, procedures, and training programs, to ensure compliance with microcredit regulations and industry standards.
• Identify compliance risks, including regulatory non-compliance and reputational risk, and provide recommendations for mitigation.
• Recommend compliance improvements to enhance the microcredit organization's compliance with regulatory requirements.

Reporting and Follow-up

• Prepare audit reports to present findings, recommendations, and action plans to management and the board of directors.
• Present audit findings and recommendations to management and the board of directors.
• Monitor the implementation of audit recommendations and report on progress.
• Follow up on audit findings to ensure that agreed-upon actions have been implemented and are effective.

Required Skills or Experience

• A bachelor’s degree in Accounting, Finance or related field.
• Professional certification (e.g., CA, ACCA, or equivalent) is an advantage.
• A minimum 2 years’ experience in auditing and preferably in the microcredit sector.
• Proficiency in Microsoft Office Suite (Word, Excel, Powerpoint, Outlook).
• Strong analytical skills and attention to detail and ability to spot numerical mistakes, error and fraud.
• Excellent organizational and communication skills.