Head of Risk and Internal Control

Description

• The Head of Risk, Internal Control, and Compliance is a critical leadership role responsible for safeguarding the bank's financial, operational, and reputational integrity by implementing risk management frameworks, internal control mechanisms, and compliance programs. Reporting directly to the Managing Director and the Board's Audit and Risk Committee, this role ensures that the bank operates within its defined risk appetite while adhering to all applicable regulatory and legal standards.

Key Responsibilities
Risk Management:

• Implement and oversee a comprehensive enterprise risk management (ERM) framework.
• Identify, assess, and mitigate credit, operational, market, and liquidity risks.
• Establish and monitor risk appetite statements and thresholds.

Internal Controls:

• Develop and maintain a robust internal control system to prevent fraud and operational inefficiencies.
• Conduct regular internal audits and risk assessments across departments.
• Recommend corrective actions for control deficiencies and monitor implementation.

Regulatory Compliance:

• Ensure adherence to Central Bank of Nigeria (CBN) regulations and other relevant laws.
• Manage all regulatory inspections, external audits, and compliance reviews.
• Regularly update policies and practices to reflect changes in the regulatory landscape.

Reporting and Governance:

• Prepare periodic risk and compliance reports for the Managing Director and the Board's Audit and Risk Committee.
• Present critical issues, trends, and mitigation plans to senior management and the board.

Incident Management:

• Investigate incidents such as operational breaches or fraud, providing comprehensive reports with recommendations.
• Manage the whistleblowing framework to ensure confidentiality and prompt resolution of concerns.

Stakeholder Engagement and Training:

• Act as the primary contact for regulators, external auditors, and other stakeholders.
• Drive a risk-aware and compliance-focused culture through regular training and awareness programs for staff.

Key Performance Indicators (KPIs):
Risk Management Effectiveness:

• Percentage of key risks identified, assessed, and mitigated within specified timeframes.
• Reduction in operational losses due to risk events (e.g., fraud, errors, system failures).
• Frequency of breaches exceeding risk appetite thresholds.

Compliance:

• Timeliness and accuracy of regulatory filings (e.g., 100% compliance with CBN deadlines).
• Number of regulatory breaches or penalties incurred (goal: zero).
• Timely resolution of findings from regulatory inspections and audits.

Internal Controls:

• Percentage of internal audit recommendations successfully implemented within target timelines.
• Reduction in instances of fraud, irregularities, or control failures.
• Number of control processes automated or enhanced for efficiency.

Incident Resolution:

• Average time to investigate and resolve compliance or risk incidents.
• Number of incidents resolved before escalating to regulatory authorities.

Training and Awareness:

• Percentage of employees completing annual risk and compliance training.
• Improvements in staff understanding of internal control policies (measured via surveys or assessments).

Reporting and Stakeholder Management:

• Timeliness and accuracy of risk and compliance reports submitted to the Board.
• Positive feedback from regulators, auditors, and key stakeholders on engagement and responsiveness.

Qualifications and Requirements

• Bachelor's Degree in Accounting, Finance, Risk Management, Law, or related fields. A master's degree or professional certifications (e.g., ACA, ACCA, CISA, CRISC, or CAMS) is highly desirable.
• At least 8–10 years of experience in risk management, compliance, or internal control, with 5+ years in a senior leadership position.
• In-depth understanding of CBN regulations, Nigerian financial laws, and international compliance standards.
• Proven track record in implementing enterprise risk management frameworks.
• Strong analytical, leadership, and communication skills.

What We Offer

• Opportunity to contribute to a dynamic institution at the forefront of financial inclusion.
• Competitive salary and benefits package.
• Supportive and innovative work environment.

HOW TO APPLY
To apply for the ongoing African Industries Group (AIG) job recruitment, visit the job APPLICATION PORTAL to submit your application

Note: We are an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.