Internal Audit & Compliance Manager at Mkobo Microfinance Bank

Mkobo Microfinance Bank is a young and dynamic CBN licensed MFBank with a vision to promote financial inclusion in Nigeria by leveraging technology.

We are recruiting to fill the position below:

Job Title: Internal Audit & Compliance Manager

Location: Lagos
Employment Type: Full-time

Overview

• We are currently recruiting dynamic, creative, flexible and experienced team members with a passion for everything technology and a commitment to add their quota to the success of our vision.

The Role

• The Internal Control & Compliance Manager is fully responsible for ascertaining and assessing the soundness of accounting and financial controls and procedures.
• He/she assesses the accuracy, timeliness and relevance of management information, appraising the efficiency of established policies and procedures, reviewing them in the light of changing circumstances while also ensuring that Internal Control checks are carried out on all transactions.

Responsibilities

• Plan, organize and execute the internal control and compliance functions in line with Group’s internal policies and regulatory policies.
• Provide an advisory role and supports regulatory issues of the institution’s departments.
• Conduct risk assessment of departments/branches/functional areas in accordance with timelines
• Develop, initiate, maintain and revise policies and procedures for the operation of the compliance program and its related activities to prevent money laundering, illegal, unethical, or improper conduct. Manages day-to-day operation of the program.
• Collaborate with other departments such as Risk Management, Internal Audit, Human Resources to direct compliance issues to appropriate existing channels for investigation and resolution.
• Carryout revenue assurance to prevent income leakage across product lines
• Ensures that the Bank is in compliance with various regulatory requirements and that employees are in adherence with internal procedures and policies.
• Provides leadership, direction, and integration of compliance activities to fulfil Mkobo needs and state and federal regulations. Directs the formulation of strategic compliance planning in support of Mkobo’s vision, Mission, Objectives and values.
• Directs integrated implementation and evaluation of compliance initiatives and on-going activities for compliance units, Dispute Resolution, and Internal Audit and other compliance partners as may be identified to serve future needs, Interfaces with senior administration, staff and government agency officials in the representation and development of various strategic compliance programs, policies, services and initiatives.
• Serves as the Mkobo MFB’s chief representative and advocate for excellence in compliance functions.
• Ensures effectiveness review in Reconciliation and investigation of errors and differences in accounts and cash
• Review of fees, interest rates & Loan application and disbursement processes and monitoring effectiveness of such.
• Effectiveness in GL, bank Asset and liabilities accounts review.
• Cash suppression & Fraud Prevention & Detection and other Initiatives and effectiveness
• Quality & Timely rendition of review report, Board report and other adhoc reports. (Two weeks before board meeting)
• Control measures on Loan repayment/ collections and default
• Ensure timely rendition of periodic regulatory reports such as CBN, NDIC, NFIU etc.
• Review the responses to external audit management letter to ensure that all recommendations are implemented; follow-up on audit action plan to ensure all action items are resolved
• Identify areas of potential compliance vulnerability and risk; and ensure the development and implementation of corrective action plans for resolution of problematic issues and provide guidance to avoid future recurrence.
• Provide reports on a regular basis and as directed or requested on adequacy of Controls and Compliance issues to Management and Board of Directors.
• Review general information technology controls for effectiveness
• Any other assignment by Management and Board

Qualifications

• Bachelor's Degree in Accounting or other disciplines from a reputable University
• MBA or M.Sc. will be added advantage
• Relevant professional qualifications such as ICAN/ACCA/CIS/CFA/ACA/ACAMS
• CIBN MCP certified
• 8-10 years of experience in Risk/Control functions in the Financial Services Industry
• Experience in a Microfinance bank setting in a related role is an added advantage
• Must have previous experience of reporting to a Board/Board Committee on

Knowledge:

• Internal Control/Compliance & Investigation
• Financial and operational audit of organizations
• Fintech/Financial Services/Banking Industry Knowledge
• Financial Reporting Standards / Financial analysis/interpretation
• Policy Development
• Credit Analysis / Appraisal
• Operational risk
• Knowledge of the legal and regulatory framework and the regulatory environment

Remuneration
N300,000 Monthly.

Application Closing Date
20th August, 2022.

Method of Application
Interested and qualified candidates should:
Click here to apply online