Head, Internal Audit and Compliance

1 month ago

Lagos, Nigeria Personal Trust Microfinance Bank Full time

Job Summary

  • The Head of Internal Audit & Compliance is responsible for the development, management and evaluation of internal control systems in the Bank.
  • The job holder develops and implements the annual internal audit program and ensures that the audit objectives are met.
  • The job holder provides reasonable assurance about the effectiveness and strength of internal controls.

Duties and Responsibilities

  • Develops an annual risk-based internal audit plan and oversees the implementation of the approved plan
  • Ensures methodical documentation of work plans, testing results, conclusions, and recommendations, and ensures follow-up on findings and corrective actions.
  • Provide technical assistance with investigations and special audits, and provide subject-matter expertise as needed.
  • Remains current on audit regulatory oversight trends and develops a risk-based approach incorporated into the annual audit plan.
  • Performs regular bank-wide risk assessment to identify significant risks or exposure related to internal controls or compliance with regulatory requirements, efficiency of operations, and accuracy of financial reporting.
  • Provides feedback and recommendations on business risks and improves operational efficiencies and processes where appropriate.
  • Directs the work of external auditors to ensure the audit work remains within the prescribed guidelines.
  • Coordinates and assists with the preparation of Audit Committee materials and participates in audit committee meetings
  • Investigates and reports to the Audit Committee on activities reported through the Hotline/Whistleblower processes and assists in investigations.
  • Initiates policy and process reviews, including ensuring they are up-to-date with all legislations and best practices
  • Using problem-solving and critical thinking skills to quickly identify internal control deficiencies, evaluate their risk implications, and draw the appropriate conclusions
  • Lead the setup of the enterprise risk assessment for the bank and develop a risk log
  • Conduct follow-up reviews of financial, operational, or regulatory compliance deficiencies noted during audits.
  • Implements the anti-fraud campaign and assesses compliance
  • Prepares monthly regulatory renditions and returns
  • Flexibility to carry out any other task as requested by Management

Qualifications

  • HND / B.Sc. in IT, Information Systems, Mathematics, Accounting, Banking and Finance, or a related field
  • Evidence of completion or exemption from NYSC
  • Evidence of ICAN certification is an added advantage
  • Evidence of completion of the Microfinance Certification program

Experience:

  • A minimum of five 5 years experience in Internal Audit in a Microfinance Bank, financial institution or audit firm
  • Prior managerial experience in a similar role or capacity
  • In-depth knowledge of Internal control framework for the Microfinance Industry

Skills:

  • Strategy planning and implementation
  • Organization and time management abilities
  • Leadership, team management and mentoring
  • Outstanding communication and people skills
  • Extensive knowledge of all regulatory policies and procedures
  • Proficient writing and delivery of presentations and documentation
  • Risk Management techniques
  • Proficient writing and delivery of presentations and documentation
  • A logical approach to identifying and evaluating issues and problem-solving
  • Meticulous attention to detail and accuracy
  • Ability to multi-task and meet tight deadlines
  • Ability to interact with senior management and stakeholders, including regulators
  • Proficient in the use of MS Office Suite
  • Unquestioned personal integrity with strong ethics and values.

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