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Internal Audit Manager at CUMO Microfinance Limited

  • Full Time
  • Lilongwe
  • Salary: 00

CUMO Microfinance Limited

CUMO Microfinance Limited is a not-for-profit rural microfinance company providing financial and non-financial services at village level. CUMO currently serves over 72,000 clients (80% are women) across 23 districts of Malawi. In line with its growth plan, CUMO is inviting applications from suitably qualified and experienced persons to fill the following position:

Job Title: Internal Audit Manager

Nature of Contract: Three Years Fixed Term

Duty Station: Lilongwe

Reporting to: Finance & Audit Committee of the Board

Job Summary:

The internal Audit Manager is responsible for maintaining and reviewing CUMO internal quality control system with the aim of ensuring operational and financial compliance and integrity of transactions based on CUMO’s policies and procedures and international audit standards. S/he will also maintain a review process for continuous assessment of internal control systems and their constant improvement; with a view to ensuring accountability and integrity of the Company\u2019s activities.

Specific Duties

  • Perform operational, financial, and compliance audits through examination of credit, savings, accounting and administrative records, processes, procedures, and controls.
  • Gather information on key operational and financial risks; evaluates the adequacy of existing controls designed to manage identified risks and makes recommendations for appropriate improvement.
  • Work with the Chief Executive Officer to identify existing and potential risks and designing measures to eliminate or minimize their impact
  • Proactive audit of all business areas group credit and savings operations
  • Conducts computer audits and reviews reports generated by MIS for correctness and integrity
  • Ensure that all CUMO transactions are properly authorized, adequately recorded, properly accounted and reconciled and within budget limits
  • Manages relationship with external auditors and working with the finance & Administration Manager to ensure adequate arrangement for smooth external audit process

Qualifications and Competency Requirements:

  • Bachelors Degree in Commerce, Accounting or related fields
  • Three to five years of proven internal audit experience particularly in a Microfinance setting
  • High proficiency in computer audit and knowledge of Microfinance software applications and Sage Line 50 Accounting
  • Clear understanding of financial, operational, and compliance risks affecting microfinance activities
  • Exhibit creativity, critical thinking and analytical skills
  • Self-driven, confident individual with strong inter-personal skills
  • Excellent oral and written communication skills
  • Those with related professional accounting/auditing certification will have an added advantage.

CUMO pays competitive salary including housing allowance, medical cover, and end of contract gratuity among others. Individuals who meet the above requirements are encouraged to apply.

Method Of Application

Application including full CV and a cover letter explaining your suitability for the position and contact details of three work-related referees should be sent either electronically (email) or by post to:

The Finance & Administration Manager

CUMO Microfinance Limited

Plot 6/278, Area 6

P O Box X99,



Closing date is February 7, 2023. Only short-listed candidates will be acknowledged.

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