Sakchyam Access to Finance for the Poor Programme (Sakchyam) is funded by UKaid as part of an agreement between the Governments of Nepal and the UK. Sakchyam is implemented by Louis Berger for the Department for International Development (DFID Nepal) in partnership with local and international institutions.
The programme is working with the public and private sectors to leverage access and facilitate financial sector development in Nepal for Micro, Small and Medium Enterprises (MSMEs) and for poor people with a focus on the Sudur Paschim, Karnali and Province 5, and beyond. To do so, the programme focuses on three main outputs:
- Improved SME Finance as banks and other financial institutions provide more and better products and services to these enterprises
- Strengthened capacity of microfinance financial institutions (MFIs) as well as other formal and semi-formal financial institutions, to provide services in selected districts
- Improved financial capability of enterprises and households in priority districts
Sakchyam identifies its entry points as market-led solutions to market failure and or missing markets. It has established the Sakchyam Challenge Fund to attract and leverage private sector investments to launch innovative business models targeted at poor people and communities; which deliver socio-economic benefits to financially unserved and or underserved people and entities, but on a commercially-sustainable basis. Sakchyam co-invests in innovative projects that has high social value would remain un/under invested if only left to private sectors, but crucial to improve livelihood of target beneficiaries.
Sakchyam is looking to fill the following position
Position: Challenge Fund Internal Auditor
Duty Location: Kathmandu, Nepal
Expected Start Date: January 2020
The Challenge Fund Internal Auditor will to evaluate grantee claims and ensure that they adhere to Sakchyam Challenge Fund processes and procedures by bringing a systematic and disciplined approach to the effectiveness of risk management, control, and governance processes.
- Perform a full audit cycle including risk management and control management over Sakchyam Challenge Fund grantees’ effectiveness. Check financial reliability and compliance of Sakchyam grantee returns to all applicable directives and regulations.
- Work with Challenge Fund Manager to develop the scope of the internal audit and develop quarterly and annual internal audit plans.
- Assess the progress made by the grantees to comply with the approval conditions/ remarks given and where necessary suggest the technical interventions needed from the side of grantees as well as Sakchyam.
- Obtain accounting documentation from grantees for analysis and evaluation; this may involve random audit checks at grantee premises/branches
- Prepare and present reports on each grantee that reflect the audit’s results and ensure all processes are documented; creating an effective audit trail.
- Give independent advice and objectivity to ensure the validity of claims.
- Identify loopholes in the audit process and recommend risk aversion measures; as well as cost savings to maintain value for money.
- Maintain open communication with Challenge Fund management and Louis Berger home office staff.
- Document the process and prepare a memorandum on audit findings.
- Conduct follow-up audits to monitor recommended interventions with grantees.
- Conduct QA checks on the MIS and grantees’ reporting systems for the projects funded by Sakchyam.
- Maintain MIS for Challenge Fund and support Challenge Fund manager in the compliance of Challenge Fund and management of the contractual relationship with grantees.
Reporting: Candidate will report to Challenge Fund Manager
Minimum Qualifications and Experiences:
- Advanced Certificate/Bachelor’s degree in accounting, financial management or related areas. Or undergoing a professional accounting course like CA and ACCA or other recognised auditing qualification.
- Minimum of two years’ experience as Internal Auditor for donor-funded programmes or large scale private sector entities
- Knowledge of Nepal’s auditing standards and procedures, laws, rules and regulations and an understanding of donor requirements would be an added advantage
- Have a keen interest in international development
- Strong technical skills including MS Office, accounting software and databases
- Ability to compile detailed reports in good English
- High attention to detail and excellent analytical skills
- Sound independent judgement
- Fluent in English, writing and speaking
- Must be a Nepalese national and have the ability to travel extensively across Nepal
Attractive remuneration package, commensurate to experience and qualifications will be offered to the right candidate.
Interested candidate should submit his/her CV with a cover letter stating the motivation for applying, salary expectation and a copy of their Nepalese citizenship certificate to firstname.lastname@example.org. Female candidates are encouraged to apply. The deadline for receipt of applications is 5:00 PM Nepal time, December 20, 2019.
The subject should clearly mention: “Application for Challenge Fund-Internal Auditor”
Only successful applicants will be contacted for an interview.