Risk and Internal Auditor

JOB VACANCY ANNOUNCEMENT

Background

Capital Market Authority (CMA) is a specialised organ established by Law No.057/2021 bis of 18/09/2021 with dual mandate of developing and regulating the capital market industry, commodities exchange and related contracts, warehouse receipts systems and collective investment schemes. It operates under the supervision of the Ministry of Finance and Economic Planning (MINECOFIN).

CMA is an active member of the East African Securities Regulatory Authorities (EASRA, and an associate member of the International Organization of Securities Commissions (IOSCO).

JOB DESCRIPTION

RISK AND INTERNAL AUDITOR

Job Purpose

Reporting to the Board of Directors, the Risk and Internal Auditor is responsible for providing leadership and oversight in the provision of independent and objective assurance on the effectiveness of the Authority’s policies, business processes and procedures, internal controls and governance processes to ensure the achievement of the Authority’s mandates.

He/she is responsible for ensuring adherence to quality standards for efficiency in all areas of operations, the development and management of risk management framework. In addition, he/she ensures Project, Performance and Risk Management Information system (PPRMIS) for the Authority is established and managed to meet the required standards functions

Job Functions

The implementation, maintenance and continual improvement of the Quality Management System;

• Aligning the risk and quality management frameworks to the Authority’s strategic objectives and review the Enterprise Risk Management System; and
• Capacity building to Directorates and Departments in Enterprise Risk Management.
• Developing and implementing strategies and programs to support the Internal Audit Unit;
• Developing, implementing and monitoring the Internal Audit Strategy;
• Overseeing the development and implementation of the strategic and annual Internal Audit plans and monitor and control audit projects in conformity with approved audit plans.

Risk and Internal Auditor

Job Specifications

The duties and responsibilities entail:

Business Risk and Quality Assurance

• Designing and reviewing the Enterprise Risk Management Framework and System to incorporate changes resulting from Authority’s operating environment.
• Coordinating institutional wide reviews of Enterprise Risk Management (ERM) and Quality Management System (QM) frameworks to ensure responsiveness to changing environmental dynamics and environment;
• Coordinating the implementation, maintenance and continual improvement of the Enterprise Risk Management (ERM) and Quality Management System (QM) frameworks;
• Coordinating the development and implementation of the Authority’s risk management strategies;
• Participating in Enterprise Risk Management (ERM) and Quality Management System (QM) audits, compile audit findings, track corrective actions and prepare reports as required
• Supporting the Board Committee in charge of Audit and Risk through provision of among others secretariat services and necessary information to facilitate the Committee business activities;
• Undertaking capacity building to Directorates and Departments in Enterprise Risk Management (ERM) and Quality Management System (QMS) across the Authority;
• Maintaining and updating the Authority’s risk-log register per Directorates/Departments/business functions;
• Reporting emerging risks in the execution of in Enterprise Risk Management (ERM) and Quality Management System (QMS) across the Authority;
• Preparing monthly, quarterly, annual and periodic reports as required;
• Working with Directorates and Departments Managers to align the risk and quality management frameworks to the Authority’s strategic objectives;
• Preparing and monitoring the Unit’s budget and work plan;
• Performing any other duties as assigned.

Internal Audit

• Developing and implementing strategies and programs to support the Internal Audit Unit;
• Developing, implementing and monitoring the Internal Audit Strategy;
• Developing and implementing the internal audit business processes and procedures;
• Developing and implementing the strategic and/or annual internal audit work plans; monitor and control audit projects in conformity with approved audit plans;
• Preparing and presenting internal audit reports (findings and recommendations) and Board papers to the Board Committee in charge of Audit and Risk;
• Coordinating review of organizational activities to ascertain the extent of staff compliance with Management set Standards, Policies and Procedures, as well as corporate compliance with relevant legal and regulatory framework;
• Identifying gaps and opportunities for improving business processes and procedures based on audit outcomes;
• Undertaking reviews and conducting audits on the Authority’s business processes and procedures, operations, systems, practices and other associated risks to ensure compliance with relevant laws, regulations, policies and consistency with the Authority’s established objectives and goals in accordance with the annual internal audit work plan (compliance audits);
• Identifying and documenting all internal control weaknesses and recommendations for improvements;
• Developing strategic initiatives to maintain and improve the audit function;
• Coordinating and monitoring timely implementation of audit recommendations;
• Ensuring and monitoring timely implementation of internal audit report recommendations;
• Evaluating and recommending revisions to business internal controls, operational and management policies, processes and procedures;
• Coordinating audit effort with External Auditors making working papers and reports available, highlighting areas of high risk and minimizing duplication of audit effort;
• Providing secretarial services to the Board Committee in charge of Audit, Corporate Governance and Risk Management;
• Maintaining CMA’s internal audit business processes and procedures in accordance with relevant internal audit guidelines;
• Undertaking special audit assignments as may be required;
• Ensuring an effective and efficient compliance with the Government’s relevant laws and regulations;
• Coordinating internal and external communication (correspondences, emails, phone calls, etc.) within the Unit as well as responding to all relevant enquiries addressed to the Unit;
• Undertaking any other duties as may be assigned from time to time.

Recognized Qualifications

A candidate must have the following or equivalent

• Master’s Degree in any of the following fields: Finance, Accounting, Business Administration or Economics;
• At least five (5) years of related work experience, please attach evidence;
• Professional qualifications in Accounting, Finance or Internal Audit such as ACCA, CPA, CFA or CIA (Certified Internal Auditor);
• Membership of professional accounting, finance or internal audit body in good standing such as the Institute of Certified Public Accountants of Rwanda (iCPAR), Institute of Internal Auditors (IIA) Rwanda or their equivalent;
• Meet the requirements of the Statute governing the management of CMA staff.

Skills and Abilities

• Strong written and verbal communication skills, including the ability to prepare and present reports or recommendations to the Management and Staff;
• Excellent computer literacy skills including knowledge of Microsoft Office, E-mail, Internet, website navigation, and report writing tools;
• Ability to work independently and as part of a team; with strong collaboration, negotiation, and teamwork skills.

Application procedure

Interested and qualified candidates should submit their applications online to the following email: recruitment@cma.rw. Applicants must submit the following documents in PDF format:

1. An application letter addressed to the Chief Executive Officer
2. A detailed Curriculum Vitae
3. Copy of academic degree(s) and Certificates
4. Proof of previous relevant working experience
5. Copy of National Identity and/ or passport

The deadline for submission of applications is 1^st November 2024.

For more details, please refer to CMA website https://www.cma.rw/ under careers.

Capital Market Authority