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1) Head Office Audit: Verify that all financial document and cash transaction and procurement have been done in conform to the policy of VTM.
• Verify for all transactions of fixed asset purchase whether it is complying to the policy of VTM, this would include request from any user office, approval, procurement and product quality to ensure that VTM’s benefit has been maintained.
• Cash management, this included the cash transfer to branches and cash received from other resources, all activities have been done in a safe-guard and in conform to VTM’s Policy.
• Check and verify, cash at bank and cash flows book whether it is matched in balance. Bank reconciliation has been done to ensure balance of each account is correct. To ensure that all VTM’s property at the head office is kept in a safe place and use it properly.
• Bookkeeping and Accounting: All expenses must comply with the principle finance policy and approved by the manager attached with the invoice and receipt. Each transaction has record in the proper account, all journal vouchers have approval. General ledger is matched with the cash books. Financial reports are accurate.
2) Branch Audit: Carry out and reports on compliance audit to verify that all financial transaction, cash transaction and administrative are done in conform to the VTM’s policy;
• Cash management: verify to ensure that cash has been managed well by branch that included, minimum cash balance keep in safe, in bank, each transaction has signature and approved by manager, all cash are kept in safe place, cash demand for each period has been prepared and report to HO to ensure all demand of cash has supplied on time.
• Bookkeeping, Accounting: All expenses must comply with the principle finance policy and approved by the manager attached with the invoice and receipt. Each transaction included loan to customer and saving has record in the proper account, all journal voucher has approval. General ledger is match with the cash books. Financial reports are accurate and reports on time to Head Office.
• Administrative: To ensure that all VTM’s assets have been used properly in comply to VTM’s policy. All are kept in a safe place and there is inventory list has been monitored adequacy.
• Loan Process: To ensure that loan assessment, business plan conducted, guarantor, loan decision making, approval by local authority, loan approval, late loan monitoring and follow up are done in comply to credit policy. Loan loss record and recovery are maintained.
• Loan Documentation: All loan and client document are kept in order and safe place, this include the collateral, and client file as well as accounting documentation.
3) Field Level: Carry out and report on the management of the field staff level include: satisfaction of client with VTM, marketing, reputation and image of VTM:
• Sampling of borrowers: visit borrowers and borrower groups and verification that no phantom borrowers exist.
• Loan officer has been well represented for VTM in the field, showing honest to public offering transparence service and earning more respect from public to themselves and VTM.
• VTM’s name has been promoted in effective manner and VTM’s name is well known.
• Customers are served adequately.
• Data security and data integrity are maintained.
• Check for correctness of teller levels as per VTM’s credit policy.
• Lending policies and procedures comprising loan application, appraisal, decision-making and so forth are applied properly by management and credit agents.
• To perform other duties surrendered by Head and Officer of department as required.
1) Head Office Audit: Verify that all financial document and cash transaction and procurement have been done in conform to the policy of VTM.
• Verify for all transactions of fixed asset purchase whether it is complying to the policy of VTM, this would include request from any user office, approval, procurement and product quality to ensure that VTM’s benefit has been maintained.
• Cash management, this included the cash transfer to branches and cash received from other resources, all activities have been done in a safe-guard and in conform to VTM’s Policy.
• Check and verify, cash at bank and cash flows book whether it is matched in balance. Bank reconciliation has been done to ensure balance of each account is correct. To ensure that all VTM’s property at the head office is kept in a safe place and use it properly.
• Bookkeeping and Accounting: All expenses must comply with the principle finance policy and approved by the manager attached with the invoice and receipt. Each transaction has record in the proper account, all journal vouchers have approval. General ledger is matched with the cash books. Financial reports are accurate.
2) Branch Audit: Carry out and reports on compliance audit to verify that all financial transaction, cash transaction and administrative are done in conform to the VTM’s policy;
• Cash management: verify to ensure that cash has been managed well by branch that included, minimum cash balance keep in safe, in bank, each transaction has signature and approved by manager, all cash are kept in safe place, cash demand for each period has been prepared and report to HO to ensure all demand of cash has supplied on time.
• Bookkeeping, Accounting: All expenses must comply with the principle finance policy and approved by the manager attached with the invoice and receipt. Each transaction included loan to customer and saving has record in the proper account, all journal voucher has approval. General ledger is match with the cash books. Financial reports are accurate and reports on time to Head Office.
• Administrative: To ensure that all VTM’s assets have been used properly in comply to VTM’s policy. All are kept in a safe place and there is inventory list has been monitored adequacy.
• Loan Process: To ensure that loan assessment, business plan conducted, guarantor, loan decision making, approval by local authority, loan approval, late loan monitoring and follow up are done in comply to credit policy. Loan loss record and recovery are maintained.
• Loan Documentation: All loan and client document are kept in order and safe place, this include the collateral, and client file as well as accounting documentation.
3) Field Level: Carry out and report on the management of the field staff level include: satisfaction of client with VTM, marketing, reputation and image of VTM:
• Sampling of borrowers: visit borrowers and borrower groups and verification that no phantom borrowers exist.
• Loan officer has been well represented for VTM in the field, showing honest to public offering transparence service and earning more respect from public to themselves and VTM.
• VTM’s name has been promoted in effective manner and VTM’s name is well known.
• Customers are served adequately.
• Data security and data integrity are maintained.
• Check for correctness of teller levels as per VTM’s credit policy.
• Lending policies and procedures comprising loan application, appraisal, decision-making and so forth are applied properly by management and credit agents.
• To perform other duties surrendered by Head and Officer of department as required.