Director of Internal Audit Job Vacancy at Tanzania Commercial Bank

About TCB

Tanzania Commercial Bank (TCB) is one of the leading financial institutions in the country, providing first-class banking services and solutions to private individuals, enterprises, and the community at large. The bank has a team of highly qualified, experienced, and committed professionals who serve customers and contribute to the economic development and financial inclusion of the country. The Government of the United Republic of Tanzania is the majority shareholder, with minority stakes held by the Tanzania Posts Corporation, the Revolutionary Government of Zanzibar, Posta na Simu Savings and Credit Society, the Public Service Social Security Fund, and the Workers Compensation Fund. TCB has launched its new strategic plan for the years 2024-2028, with the primary focus of trying to transform its balance sheet to serve SMEs more. This will help to not only widen the customer base but also position TCB as the future leader in the industry and spearhead the country’s economic growth. TCB aims to incorporate technology into its five-year plans aimed at disrupting the market and leading to a better customer experi­ence.

If working in a dynamic environment such as this is something that is of interest to you, then the Tanzania Commercial Bank is the place to be.

Director of Internal Audit;

Are you ready to take a transformational journey in the banking sector and passionate about spearheading the internal audit agenda? Tanzanian Commercial Bank (TCB) is hiring for a dynamic, experienced and resourceful Director of Internal Audit (DIA) to head the Internal Auditing department and drive its strategy.

Reporting to the Chief Executive Officer, the DIA will be responsible for leading the internal audit function, providing independent and objective assessments of TCB’s internal controls, risk management practices, and governance processes. The Director of Internal Audit should have a strong understanding of banking operations, regulatory requirements, and audit methodologies, as well as excellent leadership and communication skills to effectively manage a team and interact with stakeholders at all levels of the organization.

Working with a vibrant team of audit professionals, the DIA will provide an independent objective assurance and consulting activity designed to enhance and protect the bank’s value through a systematic and disciplined approach. Furthermore, the Director will also provide assurance to the management and the board of directors on risk management, controls and corporate governance of the bank.

Key Duties and Responsibilities

• Develop and finalize an extensive audit plan with the Audit Committee at the beginning of each year and update them on progress regularly.
• Oversee and perform routine evaluations of the Bank’s operational and internal accounting controls, presenting findings and suggestions to the Audit Committee.
• Present concise audit department reports to the Committee quarterly.
• Develop and review audit policies, procedure and manuals;
• Prepare and implement the audit plan;
• Provide update of implementation of audit recommendations;
• Provide advisory services to the Accounting Officer on the proper management and control of resources;
• Examine and evaluate the adequacy and effectiveness of the Bank’s governance processes; risk management processes and internal controls in the following areas:
• Risk exposure relating to achievement of the bank’s strategic objectives;
• Reliability and integrity of information and the means used to identify, measure, classify,        and                                                                                         report such information;
• Systems established to ensure compliance with those policies, plans, procedures, laws, and regulations which could have a significant impact to the bank;

• Safeguarding assets and verify the existence of such assets;
• Effectiveness and efficiency with which resources are employed;
• Operations or programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs are being carried out as planned; and
• Specific operations at the request of the board or management
• Monitor and evaluate governance processes;
• Monitor and evaluate the effectiveness of the bank’s risk management processes such as Business Continuity Management;
• Provide consulting services relating to governance, risk management and control for the Bank;
• Report on the internal audit directorate’s purpose, authority, responsibility and performance relative to its plan; and
• Carry out any other related duties as assigned by the Supervisor.

Minimum requirements:

• Holder of a Bachelor’s Degree in one of the following fields; Auditing, Accountancy, Finance, Commerce or Business Administration majoring in Accountancy or Finance or equivalent qualifications from recognized institutions with;
• At least 7 years’ working experience in the banking industry or financial Institution of which two (2) years should be in a managerial position
• A CPA (T), CIA, ACCA, ACA, or CIMA or equivalent from a recognized accounting body;
• Registered with NBAA
• Possession of a Masters Degree in one of the fields mentioned above is an added advantage
• Strong leadership skills coupled with the composure required to thrive under pressure;
• Strong motivational skills to drive the team for self-motivation in challenging times;
• Excellent oral and written communication skills to create a message and lay out strategies that team can easily understand;
• Proficient in Microsoft Word, Excel and PowerPoint;
• Expert in Risk Management, Corporate Governance and Internal controls;
• Excellent verbal and written communication and presentation skills;
• Strong interpersonal skills and the ability to work closely with people with all levels of the organization and facilitate the implementation of corrective action;
• Versatile with data analysis and summarization of key issues; and

How to Apply:

Interested candidates are advised to apply for the stated position and send their email to tz_executiverecruitment@pwc.com indicating on the subject of the email the reference number of the job and the name of the position on or before 3 July 2024.

The applicants should attach their Motivational letter, CV which should contain the applicant’s mobile number, email address, career background, and three referees. The applicants are also required to attach certified copies of their academic certificates.