Head, Internal Control and Compliance

Our Client, a reputable tech-based Microfinance Bank, with focus on providing financial access to everyone by empowering individuals with access to credit and seamless payments solutions for effective financial management in an emerging market is looking to hire an experienced and result driven Head, Internal Control & Compliance to join its team. 

Job Description

• To identify, escalate and challenge the business to prevent and resolve violations
• Recommendation and implementation of remedial actions for identified violations
• Ensuring compliance with the company’s operational guidelines for both internal and external operations
• Rendition of Regulatory Returns to CBN, NFIU and all relevant regulatory agencies
• Compliance Monitoring: Support the implementation, continuous improvement and monitoring of AML (Anti-Money Laundering) and CFT (Counter-Terrorism Financing) program in the organization
• Identify potential areas of compliance vulnerability and risk, as well as drive development and implementation of corrective action plans for the resolution of problematic issues
• Provide support to the team by following up with relevant parties in resolving exceptions raised in Regulatory audits
• Work to build a strong compliance environment to ensure zero level of policy, procedures and regulatory infractions
• Work with the internal audit team on departmental reviews based on the risk-based quarterly audit plans
• Ensure prompt and effective call over of company’s transactions including loan and investment reviews
• Carrying out spot checks and review of activities in the organization
• Ensure complete and accurate recognition of all fees and charges on every relevant account
• Identify key areas of risk within the organization and propose appropriate controls to mitigate the risks
• Monitor the timely implementation of the management actions recommended in the audit reports and ensure compliance or report exceptions
• Ensures compliance with established internal control procedures and board approved policy documents (Credit policy, Treasury policy, IT policy, expenditure policy, etc.) by examining records, reports, operating practices, and documentation
• Verifies assets and liabilities by comparing items to documentation
• Assist the development of an internal control & compliance culture, including training to staff
• Monitor the trends and developments in regulations
• Liaise with the external auditor on internal control issues and ensure full compliance with all regulatory requirements by the Central Bank of Nigeria and other regulatory body
• Examining company loan accounts for daily reconciliation and financial control systems
• Checking that financial reports and records are accurate and reliable
• Ensuring procedures, policies, legislation and regulations are correctly followed and complied with

• Monitoring Loan disbursements SLA and continuous business process improvement

Qualifications

• Minimum of Bachelor’s degree in Economics, Law, Accounting, or Finance with second class lower at the minimum
• Minimum of 7 years of risk-based internal Control and Compliance experience with excellent knowledge of internal control concepts and auditing techniques
• Have a minimum of professional accounting qualification such as ICAN, ACA, ACCA, CIMA, CPA or CIA
• Practical internal Control experience at management level is necessary
• Strong knowledge of business processes
• Knowledge of IFRS Accounting Standards

• Proficiency in the use of SAP and Core Banking application (Temenos Transact), Power BI will be an added advantage