About Public Service Pension Trust Fund (PSPTF)

The Public Service Pension Trust Fund (PSPTF) is an institution established in compliance with the Pension Act (CAP 55:02) to oversee the administration of the Public Service Contributory Pension Scheme.

Job Overview

The Internal Audit Manager will lead the internal audit function of the Fund and provide independent and objective assurance on the adequacy and effectiveness of internal controls, risk management and governance processes.

The role involves developing and executing a comprehensive risk-based audit plan, conducting audits across the Fund’s operations, ensuring compliance with regulatory requirements and internal policies, and providing critical insights and recommendations to the Board’s Audit Committee and Management.

• Develop and implement a risk-based annual audit plan covering all areas of the Fund’s operations.
• Identify activities requiring audit coverage and assess their significance based on risk, cost, schedule, quality and regulatory impact.
• Formulate and coordinate the implementation of internal audit and risk assessment policies, strategies, frameworks and plans.
• Identify, assess and evaluate risks across the Fund and recommend appropriate mitigation strategies.
• Provide independent assurance on risk management, governance and internal control processes.
• Conduct financial, operational, compliance and risk-based audits in accordance with approved audit plans and professional standards.
• Assess the adequacy and effectiveness of internal controls, governance processes and risk management systems.
• Evaluate whether resources are acquired economically, utilised efficiently and adequately safeguarded.
• Review business processes and recommend improvements to enhance operational efficiency and effectiveness.
• Utilise audit technology, data analytics and other audit tools to improve audit coverage and effectiveness.
• Investigate suspected fraud, misconduct, irregularities and misuse of resources using appropriate audit and data analytics techniques.
• Report fraud investigation findings and recommendations to Management, the Audit Committee and the Board, as appropriate.
• Recommend measures to strengthen controls and prevent future fraud occurrences.
• Prepare clear, comprehensive and timely audit reports outlining findings, conclusions, risk implications and practical recommendations.
• Present audit findings and recommendations to Senior Management, the Audit Committee and the Board.
• Monitor implementation of agreed audit recommendations and management action plans.
• Conduct follow-up and post-audit reviews to verify the implementation and effectiveness of corrective actions.
• Maintain complete and accurate audit documentation and working papers.
• Ensure audits comply with applicable professional standards, internal audit policies and best practices.
• Continuously review, update and improve audit methodologies, procedures and audit programmes.
• Promote continuous improvement within the Internal Audit function.
• Manage the activities, performance and professional development of Internal Audit staff.
• Prepare, administer, monitor and control the Internal Audit Division budget.
• Ensure effective allocation and utilisation of audit resources.
• Audit compliance with the Pension Act, Pension Rules, Fund Rules and directives issued by the Registrar of Financial Institutions and other regulatory authorities.
• Report regulatory breaches and non-compliance issues to Management, the Audit Committee and the Board.
• Review compliance with prescribed investment limits, asset allocation requirements and custodial arrangements.
• Audit member benefit administration processes, including contributions, transfers, withdrawals and benefit payments.
• Independently assess the effectiveness of AML/CFT controls and report deficiencies to the Audit Committee and Risk & Compliance function.
• Review governance practices, including Board and Trustee conflict-of-interest declarations and fit-and-proper compliance requirements.
• Assess controls surrounding actuarial valuation processes in collaboration with the Fund’s actuary.
• Ensure compliance with applicable laws, regulations, policies and industry standards and advise Management on necessary changes.
• Liaise with external auditors, regulators, actuaries and other assurance providers to ensure coordinated assurance coverage.
• Build productive relationships with Management, the Board, Audit Committee, regulatory authorities and other key stakeholders.
• Provide independent advice and assurance on governance, risk management and internal control matters.
• Perform any other related duties assigned by the Audit Committee, Board or Principal Officer, consistent with the role of Internal Audit Manager.

• Strong ability to gather, analyse and evaluate facts and prepare professional reports.
• Professionalism and a positive attitude.
• Effective written and verbal communication skills.
• Commitment to and belief in the Code of Ethics for Internal Auditors.
• Ability to work with minimum supervision.
• Willingness and availability to undertake extensive travel.
• Knowledge of current professional auditing standards, procedures and reporting requirements.
• Knowledge of operating systems and related risks and controls.
• Knowledge of audit techniques for computer applications.

• Bachelor’s and Master’s degree in Accounting, Internal Audit, Finance or Business Administration from a recognised university or institution.
• Full professional qualification such as ACCA, CIA, CPA or CIMA is required.
• Membership of a recognised professional body, such as the Institute of Internal Auditors or Society of Accountants, is mandatory.