Head of Internal Audit and Investigation

VisionFund Tanzania Microfinance Bank Ltd (VFT MFB) formerly known as SEDA, a subsidiary of VisionFund International is a fast-growing and reputable Micro Finance Bank (MFB) and has a loan book of more than TZs. 41 billion and more than 53,000 customer base, more than 5,000 of them being smallholder farmers. VFT-MFB is seeking to employ a dynamic and committed Tanzanian young man/woman who have a passion for people’s economic development to fill the vacant position detailed here below;

Work reference no. 02/2024

Position: Head of Internal Audit and Investigation

Reporting to: Functionally to the Board Audit Risk and Compliance

Committee of the Board of Directors and Administratively to the Chief

Executive Officer

Responsibility:

The Head of Internal Audit is a key figure in ensuring organizational integrity and compliance by developing annual audit plans, leading the internal audit function, and evaluating the effectiveness of internal controls and risk management procedures, training internal auditors, conducting special investigations, and overseeing regulatory reporting and legal compliance.

Main tasks

• Develop and submit an annual internal audit plan to the Board Audit Risk and Compliance Committee for approval.
• Lead the internal audit function with proficiency and strategic direction.
• Provide training and coaching to internal auditors, fostering their professional development and enhancing their skills.
• Execute procedures outlined in the internal audit manual with the assistance of the Internal Auditors.
• Ensure compliance with sound internal auditing standards and a relevant code of ethics.
• Examine and evaluate the adequacy and effectiveness of the system of internal controls.
• Review the application and effectiveness of risk management procedures and risk assessment methodologies.
• Review the adequacy of the management information system.
• Evaluate the reliability of information produced by accounting and computer systems.
• Provide an independent appraisal function for all aspects of operations.
• Review the accuracy and reliability of accounting records and financial reports.
• Review the system of assessing capital in relation to risk assessment and estimation.
• Assess the efficiency of the usage of resources.
• Review the system established to ensure compliance with legal and regulatory requirements, codes of conduct, and the implementation of policies and procedures.
• Test the reliability and timeliness of regulatory reporting.
• Carry out special investigations.
nafasi za kazi
• Require the management of the institution to implement and maintain appropriate internal control procedures and management information systems.
• Undertake any other duties delegated by the Board Audit Risk and Compliance Committee.

Education/Experience:

• University degree in Accounting, Finance, or business administration is a must.
• Professional accounting certification (CPA) is a must.
• CIA, CFE, or CISA certification will be an added advantage.
• Master’s Degree in Accounting, Finance, or business administration will be an added advantage.
• Minimum of 5 years audit experience in banking supervision and/or microfinance (with a minimum of 3 years of demonstrated strong leadership experience in planning, supervision and management of an internal audit department is a must).
• Experience advising senior management and reporting to audit committees on risk management and monitoring is a must.
• Experience in systems analysis and audit would be an added advantage.
• Understanding relevant accounting and loan tracking software would be an advantage.
• Excellent proficiency in the use of PPF.
• Capability and willingness to take responsibility.
• A high sense of integrity.
• Determined personality with initiative, perseverance and the ability to motivate and manage the team.
• Must be a committed Christian and able and willing to participate and lead in daily devotions.

Special / Personal Abilities:

• Highly developed sense of reliability and correctness.
• Excellent trainer, facilitator, mentor, and coach.
• Innovative and analytical.
• Very good planning skills.
• Proficient in Microsoft Office applications.
• Must be a self-starter, highly motivated, organized, and detail-oriented.
• Model and demonstrate effective Christian leadership
• Good knowledge of economic and financial topics and sufficient experience in the loan business of VFT-MFB is an added advantage
• Willingness to travel for at least 50% of the time to remote locations

Mode of Application:

Interested and suitably qualified individuals should forward their application letter, attaching copies of their academic and professional certificates; detailed CVs with three referees to; vftHRstaff@vftz.co.tz. The position should be the subject of the email application.

OR; through the postal address below:

The Chief Executive Officer,

VisionFund Tanzania Microfinance Bank Limited,

P.0. Box 1546,

Arusha, TANZANIA.

The application should reach the undersigned no later than 29^th February 2024