JOB ADVERT – INTERNAL AUDITOR
About Masters Finance Ltd
Masters Finance Ltd is a Deposit-Taking Microfinance Institution dedicated to expanding financial inclusion through innovative, customer-focused financial services that leverage on technology-driven solutions. The institution is building a dynamic leadership team to drive growth and operational excellence as it prepares to transition into a commercial bank.
To support this strategic direction, Masters Finance Ltd is seeking a results-oriented and highly analytical Internal Auditor capable of setting up and driving a strong internal audit function in line with best practices and Reserve Bank of Malawi (RBM) prudential guidelines.
Position: Internal Auditor
Location: Lilongwe, Malawi
Reports To: Chairperson, Board Audit Committee
Key Purpose of the Role
The Internal Auditor will provide independent and objective assurance on the effectiveness of governance, risk management, and internal control systems across Masters Finance Ltd. The Internal Auditor will help safeguard company assets, strengthen compliance, and ensure operational efficiency as the institution grows.
Key Responsibilities
• Develop and implement a comprehensive Internal Audit Charter and annual Audit Plan aligned with RBM requirements.
• Conduct risk-based internal audits across all branches, departments, and business processes.
• Evaluate the adequacy and effectiveness of the organisation’s internal controls, risk management, and governance systems.
• Assess compliance with internal policies, RBM regulations, AML/CFT standards, and other legal requirements.
• Perform audits of credit processes, cash management, IT systems, digital platforms, and financial operations.
• Prepare high-quality internal audit reports with clearly defined findings, risk implications, and actionable recommendations.
• Conduct follow-up reviews to ensure timely implementation of agreed corrective actions.
• Advise management on internal control improvements and fraud prevention measures.
• Support the Audit Committee with insights and periodic reporting on audit outcomes and internal control environment.
• Investigate suspected fraud, irregularities, or systemic weaknesses.
• Provide audit input into new systems implementation, including core banking software, digital platforms, and National Switch integration.
Qualifications & Experience
• Bachelor’s Degree in Accounting, Auditing, Finance, or related field.
• Professional qualification is a strong advantage (CIA, ACCA, CISA, CPA).
• Minimum 5 years’ experience in internal auditing, preferably in banking or microfinance.
• Strong practical understanding of RBM regulations, microfinance operations, and risk-based auditing.
• Proficiency in audit management tools, MS Excel, and data analytics techniques.
• Excellent report writing, analytical and communication skills.
• Demonstrated integrity, confidentiality, and sound ethical judgement.
Personal Attributes
• Strong ethical standards and integrity
• Analytical and detail-oriented
• Proactive problem-solver
• Strong leadership and stakeholder management
• High proficiency in Excel, data analysis, and risk modelling
• Ability to work under pressure and meet strict deadlines
How to Apply
Submit a motivation letter, updated CV, certified copies of certificates, and three professional and traceable referees to:
Email: info@mastersfinance.co.mw
Subject Line: Application for Internal Auditor
Application Deadline: 6 December 2025
Only shortlisted candidates will be acknowledged. Applications will be treated on a rolling basis.
Masters Finance Ltd is an Equal Opportunity Employer and encourages applications from qualified men, women, and persons with disabilities.
