•During her tenure, the Office of Internal Audit and Inspection conducted several important reviews.
•They included an audit of the Fund’s Enterprise Risk Management Framework, the first ever in the history of the Fund.
Image: REUTERS
IMF audit and inspection head Nancy Onyango leaves office on January 29, 2024, when her second term ends, Managing Director Kristalina Georgieva has announced.
The accountant who is the Internal Audit and Inspection Director is the top ranking Kenyan in IMF.
Onyango a businesswoman and corporate executive was appointed on December 4, 2017, with the appointment taking effect on February 1, 2018.
“Nancy’s contributions, through her work and dedication over the past six years, ensured that the Fund meets the highest standards of transparency and accountability in the service of our membership,” Georgieva said.
During her tenure, the Office of Internal Audit and Inspection conducted several important reviews, including an audit of the Fund’s Enterprise Risk Management Framework, the first ever in the history of the Fund.
The Audit’s recommendations, when fully implemented, will standardise the embedding of risk management into all facets of the Fund’s work, IMF said.
“Under Nancy’s leadership, OIA’s work in supporting the Fund’s transformational programs, particularly the innovative Readiness Assessments done before each program’s launch, have been well received by the various program steering committees, Fund staff and management, the External Audit Committee, and the IMF Executive Board,” said Georgieva.
In a statement, IMF said throughout her career at the Fund, Onyango was a strong advocate for work-life balance and employee mental health and wellness.
She served with distinction on the task force that developed the Fund’s first mental health strategy in 2022, according to management.
Onyango also mentored many staff members, and has been a regular presenter on various diversity, equity and inclusion forums at the Fund, the World Bank and the IFC.
“Nancy’s openness and advocacy for staff have endeared her to colleagues and peers alike. The management team and I are especially grateful for her candid sharing of the analyses and insights from her team’s advisory and assurance work,” Georgieva said.
These, she said, have helped to spur significant changes at the Fund, including new ways to deliver on complex programs while optimising the use of limited resources.
Prior to joining the Fund, Onyango worked at two global multinational audit and advisory firms, PricewaterhouseCoopers, and Ernst and Young, over a span of 25 years and was based in several locations including the UK, Europe, and across Africa.
She has worked as a gender leadership specialist and remains keen to support women in achieving their career goals.
She continues to sit on the Boards of Global Give Back Circle based in New York and Fairtrade America, based in Washington DC.
“The search for Onyango’s successor to lead OIA will begin shortly,” Georgieva said.