About Us
CIC Insurance Group is a leading insurance and financial services organisation with more than five decades of experience helping individuals, families, and organizations achieve financial security.
We have grown into a dynamic Group offering life, general, micro insurance, asset management, and investment solutions, with operations in Kenya, Uganda, South Sudan, and Malawi, and are listed on the Nairobi Securities Exchange.
Our tagline, “We Keep Our Word,” reflects our unwavering commitment to integrity, transparency, and delivering on our promises to our clients, partners, and communities.
CIC Group is passionate about innovation, digital transformation, and inclusive insurance solutions that meet the evolving needs of cooperatives, SMEs, corporates, and individuals. By joining us, you will be part of a team that is shaping the future of financial protection across Africa.
About the Role
Reporting to the Internal Audit Manager, the role holder will be responsible for providing independent, objective assurance and advisory services on the adequacy and effectiveness of governance, risk management and internal control processes for CIC Asset Management Limited (CICAM) across the Group
Key Responsibilities:
Audit planning, execution and reporting
- Develop and execute risk-based audit programmes covering asset management and investment activities.
- Conduct end-to-end audits of investment portfolios, investment products, fund management and investment operations.
- Identify root causes of investment control weaknesses, regulatory breaches and operational risks.
- Prepare clear, evidence-based audit reports with practical recommendations and management action plans.
- Present significant investment audit findings and risk exposures to the Internal Audit Manager and / or Director, Internal Audit.
- Monitor implementation of audit recommendations and conduct regular follow-up reviews.
- Provide independent advisory input on new investment products, investment platforms and changes in investment management processes.
Investment portfolio management and oversight
- Audit investment portfolio management activities, including asset allocation, investment selection and portfolio rebalancing.
- Evaluate compliance with approved investment strategies, investment mandates, and investment policy statements.
- Review investment decisions to establish whether they are supported by appropriate research, financial analysis, due diligence and authorized approvals.
- Assess compliance with investment limits, asset allocation thresholds, concentration limits and regulatory investment restrictions.
- Audit investment portfolios comprising equities, government securities, corporate bonds, money market instruments, deposits, collective investment schemes and other alternative investments, as applicable.
- Review portfolio performance measurement, benchmark selection, investment returns, yields and attribution analysis.
- Assess the adequacy of monitoring and escalation of investment performance deviations and portfolio breaches.
Regulatory compliance
- Audit compliance with the Capital Markets Act and applicable CMA regulations, guidelines, circulars and directives.
- Assess compliance with applicable requirements governing fund managers, investment advisers, collective investment schemes and alternative investment funds, as relevant.
- Review regulatory capital, financial resource and prudential requirements, where applicable.
- Audit the preparation, accuracy and timely submission of regulatory returns.
- Assess compliance with requirements relating to client asset protection, custody arrangements, segregation of client funds and investor disclosures.
- Review regulatory inspections, compliance findings, breaches and implementation of corrective actions.
- Assess the effectiveness of controls over regulatory change management.
Investment risk management and governance
- Assess the effectiveness of the investment risk management framework and compliance with approved risk appetite.
- Review the governance and effectiveness of the Investment Committee and other investment oversight structures.
- Evaluate the adequacy of investment policies, procedures, delegated authorities and approval frameworks.
- Review portfolio stress testing, scenario analysis, liquidity management and investment risk reporting.
- Assess monitoring of counterparty exposures, credit risk and portfolio concentration.
Who We’re Looking For
Essential Knowledge/Skills and Experience Required:
- Bachelor’s degree in Finance, Accounting, Economics, Investment Management, Actuarial Science or a related discipline
Professional Qualifications
- Candidates must possess at least one of the following:
- Certified Public Accountant (CPA-K).
- Certified Internal Auditor (CIA).
- Association of Chartered Certified Accountants (ACCA).
- Certified Investment and Financial Analyst (CIFA)
- Additional qualifications in Financial Risk Management (FRM), Information Systems Auditing (CISA) or Risk Management Assurance (CRMA) will be an advantage.
- Membership to a professional body will be an added advantage.
Experience Required:
- Minimum of 4 years of relevant professional experience, with at least 2 years of direct experience in auditing asset management, investment management, fund management or investment operations and 2 years’ experience in the big 4 audit firms.
- Practical exposure to auditing investment portfolios and investment transactions.
- Demonstrable understanding of financial markets and investment products.
- Insurance Professional Qualification is desirable.
If you have the aforementioned professional and academic qualifications and you are ready to execute the above mandate, strictly apply through: https://careers.cicinsurancegroup.com/ clearly indicating the position being applied for.
The application should reach us by close of business on 17th November, 2026. Please note only short-listed candidates will be contacted. If you do not hear from us by 15th December, 2026 consider your application unsuccessful.
CIC Group is an equal opportunity employer and does not solicit or require any form of payment for employment opportunities.
N/B: This job advert is open to both internal and external candidates.