About African Clean Energy
African Clean Energy (ACE) is a Dutch-South African social enterprise best known for distributing in developing countries its proprietary product, the ACE 1: a solar-biomass hybrid that significantly reduces the need for cooking fuel, burns without smoke, and offers electricity for mobile charging and lighting. ACE is headquartered in Amsterdam, the Netherlands, and has B2C operations active in Lesotho, Cambodia and Uganda with our flagship factory in Thetsane, Lesotho.
The ‘Internal Financial Audit and Compliance Officer’ will support the company’s business assurance and compliance team in Thetsane, Lesotho, providing an independent evaluation of the activities of the company. The officer will coordinate all audits and ensure strict adherence to the company’s internal policies and procedures as well as regulatory and statutory requirements in order to promote transparency and accountability, add significant value, enhance risk management, governance and compliance, improve operational efficiency, and strengthen the internal control systems within the operations. The officer will further be involved in internal project audits for ACE’s publicly funded projects (e.g. the EU project) and will work closely with ACE’s finance and project teams to develop ACE internal policies. This position reports to the country director and our extended management at headquarters.
- Assist in the development, maintenance, implementation and review of the internal audit work programmes, audit plan and risk register and drive the development.
- Establish effective business relationships within the company and assist management in the understanding and application of and adherence to internal control, risk management, compliance and governance principles.
- Perform audits through the review of physical and electronic records, evaluate the level of compliance with established business control policies, processes, procedures, standards, laws and regulations in assigned functional areas/business units, identify control weaknesses or process improvement opportunities and initiate workable solutions.
- Document and file work papers and audit procedures performed. Track timely and effective corrective actions taken following audit recommendations.
- Maintain back up (physical and electronic) of all internal audit materials for easy retrieval and reference and monitor the document management process across the company.
- Monitor and drive compliance with regulatory and statutory requirements across all business areas.
- Develop new company internal policies in close collaboration with management.
- Conduct monthly review of bank reconciliation statements for all existing bank accounts
- and monthly call over/review of transactions focusing on appropriate posting of transactions and ensuring compliance with statutory deductions.
- Investigate and report all alleged cases of fraud, waste, abuse and inefficiencies and make recommendations on appropriate preventive or remedial actions.
- Participate in stock counts and follow through to ensure that store balances are reconciled to the general ledger; conduct physical verification of property, plant and equipment (PPE), and monitor the disposal of PPE as directed by the Board.
- Implement the internal audit strategic initiatives relating to key responsibilities.
- Carry out other responsibilities as may be required by the head, business assurance and compliance, management or board.
Minimum Qualification and Experience
- Bachelor’s degree in Accounting, Economics, or Finance or any equivalent qualification
- Effective written and oral communication skills.
- Ability to display initiative.
- Ability to work within a team with colleagues from a wide range of professional backgrounds and contribute to the development of team culture and the achievement of common objectives.
- Ability to work without supervision and organize own workload and manage time effectively.
- Ability to communicate control issues to service managers.
- Ability to use and maintain competence in computer literacy, including word processing, spreadsheets and internet/intranet.
- Ability to take direct management responsibility for the full range of management duties including leading and motivating staff.
- Ability to work under pressure, within agreed targets and timescales and deliver quality outcomes.
- Ability to promote positively and present Internal Audit about new and existing customers.
- Ability to give clear advice, at an operational and strategic level, to members and senior officers and other relevant external parties, funders/organizations e.g. external audit.
Further Skills and Attributes
- Analytical and Critical Thinking Skills
- Hard work and Quality Focus
- Honesty and Reliability
- Collaboration and Resilience
- Objectivity and Independence
- Passion and Commitment
- Innovation and Attention to Detail
- Information Technology (IT) General Knowledge
- Result-orientation and Accountability
Key Performance Indicators (KPI):
- Adequacy of internal audit plan.
- Level of execution/achievement against internal audit plan.
- Accuracy, timeliness, and completeness of reports.
- Number and significance of issues/ inconsistencies and process improvement opportunities identified in business processes.
- Frequency of incidences of control failure.
- Adequacy and timeliness of follow-up on regulatory and statutory filings.
- The magnitude of calculated losses due to fraud and other control failures.
- Number or frequency of queries.
- The number of unresolved cases to identified issues.
- Adequacy of document management.
All applicants are required to submit a CV/resume in connection with a cover letter to firstname.lastname@example.org to apply to this position. Applications are being reviewed starting immediately and until the position is filled.
This document is not an exhaustive list of any and all day to day activities and the ‘Microfinance Audit and Compliance Officer’ recognizes that he/she may be asked to assist on tasks that fall slightly out of the scope of work from time to time in order to work towards the tasks outlined.