Head, Internal Audit & Compliance at Praise Microfinance Bank

Praise Microfinance Bank is a proposed Microfinance Bank in Benin City. The promoters have commenced the process of obtaining operating license from the Central Bank of Nigeria (CBN) as a Microfinance Bank. Praise Microfinance Bank is an offshoot of Mipraise Multipurpose Cooperative Society Limited. The Cooperative Society was registered on 2nd September, 2014 to provide Microfinance services for Nano, micro, small and medium scale enterprises in Edo State. Mipraise Multipurpose Cooperative Society Limited has built a resounding success on excellent service delivery in a uniquely customer friendly environment through professional staff, leveraging on world-class technology.

We are currently recruiting to fill the management position below which is required as part of our licensing process:

Job Title: Head, Internal Audit & Compliance

Location: Benin, Edo
Employment Type: Full-time

Details

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

Duties and Responsibilities

• Develops an annual risk-based internal audit plan and oversee 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, special audits, and provide subject-matter expertise as needed.
• Remains current on audit regulatory oversight trends and develop 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 improving operational efficiencies and processes where appropriate.
• Directs the work of external auditors to ensure the audit work remains within the prescribed guidelines.
• Coordinates and assist with the preparation of Audit Committee materials and participate in audit committee meetings
• Investigates and report to the Audit Committee on activities reported through the Hotline/Whistleblower processes and assist 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 developing a risk log
• Conduct follow-up reviews of financial, operational, or regulatory compliance deficiencies noted during audits.
• Implements the anti-fraud campaign and assess compliance
• Prepares monthly regulatory renditions and returns
• Flexibility to carry out any other task as requested by Management

Qualifications

• Minimum of Degree in Accounting / Finance
• Minimum of 5 year Professional Experience
• Minimum of 3 years of experience in Internal Audit & Compliance Department of reputable microfinance bank
• ICAN / ACCA / CFA Qualified
• Evidence of completion of CIBN Microfinance Certification program.

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 procedure
• Proficient writing and delivery of presentations and documentation

Risk Management techniques:

• Proficient writing and delivery of presentations and documentation
• 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 suit
• Unquestioned personal integrity with strong ethics and values.

Remuneration
Highly competitive

Application Closing Date
28th May, 2023.

How to Apply
Interested and qualified candidates should send their Applications to: [email protected] using the Job Title as the subject of the email.