Indo Zambia Bank Limited

Indo Zambia Bank Limited is a commercial bank that has been operating in Zambia since 1984. With a branch network of 37 branches and 7 agencies across the country, the Bank has exciting career opportunities for individuals seeking to grow in the banking and financial services sector.

AUDIT DEPARTMENT

6. INTERNAL AUDIT MANAGER * 1

Job Purpose

To provide independent, objective assurance and advisory services designed to add value and improve the Bank’s operations by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes.

The role involves analyzing risks and controls, recommending process and control improvements, and providing audit reports to relevant stakeholders.

Under the supervision of the Assistant Head – Internal Audit, the following are among the key responsibilities:

Key Responsibilities

Internal Controls and Risk Management

■ Perform annual and periodic assessments of the Bank’s operations.
■ Contribute to the development of a comprehensive risk-based audit plan, internal audit policies, and procedures.
■ Execute the audit plan in line with Internal Auditing Standards, the regulatory framework, and best practice in risk-based auditing.
■ Review and compile audit programmes and checklists to ensure they adequately cover the Bank’s risk profile in line with the risk assessment framework.
■ Ensure adequate audit coverage of the Bank’s key areas in line with the risk families adopted from the COSO framework.
■ Conduct investigations as requested by Management or any Committee of the Board, and collaborate with regulatory and law enforcement agencies where necessary.
■ Perform any other duties assigned by the Chief Internal Auditor.

Control Assessment

■ Evaluate controls over the Bank’s operational processes and credit portfolios.
■ Evaluate business risk positions taken by the Bank, with a principal focus on products and processes, and offer recommendations.
■ Maintain comprehensive oversight of main areas of risk and control weaknesses in the Bank’s business model and operational infrastructure.

Business Advisory

■ Initiate and conduct end-to-end advisory reviews on key business considerations.
■ Perform special reviews on management-agreed procedures (e.g. revenue assurance, project appraisals).
■ Monitor the control environment and, in liaison with the Senior Audit Manager, Assistant Head – Internal Audit, and Chief Internal Auditor, highlight emerging internal and external risks to Management.

Audit Leadership

■ Assist in supervising the Internal Audit team on assurance and special/ad hoc assignments to ensure audit efficiency and effectiveness.
■ Assist in championing the implementation of best practices, policies, and procedures for the Internal Audit function in line with IIA standards and frameworks.

Audit Issue Resolution

■ Ensure timely resolution of Internal Audit and regulatory issues through continuous engagement with Management.
■ Validate and close audit open items.

Accountability, Risk, and Compliance

■ Ensure compliance with Bank of Zambia and other statutory regulatory bodies.
■ Ensure conformance with Institute of Internal Auditors (IIA) Standards and the Code of Ethics.
■ Independently assess:
□ The 1st Line of Defence – the effectiveness of business units’ risk-taking activities within approved risk limits and their responsibilities to identify, assess, and control risks.
□ The 2nd Line of Defence – the effectiveness of risk management and compliance functions in their support and oversight roles.

Accountability, Administration, and Team Management

■ Provide guidance on audit administration and execution to peer and subordinate audit staff.
■ Ensure completeness and proper documentation of audit files.
■ Share knowledge and experience with team members.
■ Effectively interface with all levels of management.

Required Skills and Attributes

■ Audit and investigation skills.
■ Financial and operational audit expertise.
■ Strong knowledge of the financial and banking industry.
■ Understanding of accounting standards.
■ Policy development capability.
■ Financial reporting skills.
■ Strong analytical and problem-solving abilities.
■ High level of knowledge across business areas.
■ Certified Internal Auditor.

Qualifications and Experience

■ ACCA, CA Zambia, or a degree in Finance or any other relevant field.
■ A Master’s degree in any of the above fields will be an added advantage.
■ Minimum of 5 years’ experience, with at least 2 years at management level, in an Internal Audit function within a commercial bank or established Microfinance Institution.
■ Must be a Certified Internal Auditor (CIA).
■ Member of ZICA and IIA.
■ Certified Fraud Examiner or other fraud/forensic-related certifications will be an added advantage.

Applications should be submitted online via the following link: APPLY HERE, clearly indicating the position being applied for. Please ensure that you upload clearly scanned copies of your Curriculum Vitae, Certifications, and other supporting documents.

Physical applications will NOT be accepted.

The closing date for applications is 20th December 2025.