VFD Group is an alternative financial service holding company that creates value by working within Nigeria's informal financial sector to create innovative products and solutions that are accessible to the everyday Nigerian.
We are recruiting to fill the position below:
Job Title: Internal Control/Compliance Officer
Location: Lagos
Employment Type: Full Time
Grade Alignment: Associate to Senior Associate
Job Summary
- Formulate and execute company control processes, and complete daily, weekly, and monthly accounts reconciliations by identifying and reconciling differences, escalating issues, and communicating results to management and colleagues.
Key Task
- Budget & Budgetary control
- Accounts reconciliation
- Regulatory compliance reporting
- Revenue and cost assurance
- Internal audit
- Asset and liability management
- Special investigations and daily call-oversEnsure proper internal audit and control system.
Responsibilities
Budget & Budget control:
- Monitor annual budget figures
- Provide a monthly variance and budget gap report
- Ensure expenses are always within budget except with exceptional approval
Accounts reconciliation:
- Ensures that cash amounts in the company’s ledgers agree with bank balances
- Ensures guidelines and policies around cash processes are adequate & effective
- Ensure daily call-over
- Monthly bank reconciliation of all accounts
Regulatory compliance reporting:
- Ensure zero regulatory infraction in areas relating to financial reporting
- Review fillings to regulators
- Ensure the remittance of all government taxes
Revenue and cost assurance:
- Develop an integrated cycle to ensure prevention, detection, analysis, and Response
- Ensure avoidable losses and cost exposure
- Ensure no opportunist fraud window
- Ensure no areas of income leakages
Internal Audit:
- Develop a proper internal audit and control system
- Define control measure for all key activities and ensure compliance
- Prepare audit reports
- Advise units on departure from policies, procedures and other exceptions
Asset and Liability Management:
- Develop an ALM system
- Develop ALM policies and procedures
- Suggest strategic guidance where necessary
Special investigations and daily call overs:
- Review all payment vouchers to both internal and external parties
- Perform investigations into suspected fraudulent/ sharp practices
- Provide appropriate line of action and recommendation for investigated fraudulent activities
Others:
- Prepare/compile agreed periodic activity report for the MD/CEO
- Other ad-hoc assignments as assigned
Key Performance Indicators
- Summary KPI
- Non-Financial/Internal
- Budget and Budget Control
- Budget variance analysis 5th working day of the month
Regulatory compliance reporting:
- Ensure zero regulatory infraction in areas relating to financial reporting
- Accurate review of fillings to regulators
- Timely remittance of all government taxes
Revenue and cost assurance:
- Development of an integrated cycle to ensure prevention, detection, analysis, and response
- Cost savings on avoidable losses and cost exposure
- Decrease and detection of income leakages
- Number of suggested strategy
Internal Audit:
- Development of internal audit and control system
- Increase of compliance of all key activities
- Prepare audit reports
- Decrease in exceptions by the units
- Number of identified exceptions
Asset and Liability Management:
- Development and implementation of an ALM system
- Development of all necessary ALM policies and procedures
- Number of suggested strategic guidance
Special investigations and daily call overs:
- Timely review of all payment vouchers to both internal and external parties
- Number of investigated fraudulent and sharp practices
- Reduced number of fraud cases
Others:
- Integrity and Accuracy of Accounting Records:
- Account reconciliations- Daily
- WACC- Daily
- FD position analysis- Weekly
- Account reconciliation- Daily, weekly and Monthly
- Control and Monitoring- Daily
- Adhoc task- Continuous
- Regulatory Compliance- Fillings 24hrs before the specified deadline.
- Savings on income leakages
- Timely and discreet execution of investigations
- Number of timely conducted audits
- Reduced fraud cases
- Comprehensive, clear, and constructive audit and fraud reports
- Reduced number of mitigated risk
- Minimum exceptions found by external auditors
Specification/Qualification
Qualification:
- First degree or its equivalent in a numerate discipline (Accounting, Economics, Finance, etc.), MBA or Master’s degree will be an added advantage.
Minimum Experience:
- Minimum of 6 years’ cumulative work experience in a similar role
Professional Membership:
Core skills:
- Knowledge of corporate governance practices
- Ability to analyze data
- Ability to read large volumes of documents effectively and extract necessary information
- In-depth understanding of the organization’s business issues
- Communication & Presentation
- Good report writing skills
- Proficient at Excel, MS Word, and Powerpoint
- Developed the ability to produce reports and presentations to a professional standard
- Excellent written and oral communication skills
- Excellent proof-reading skills
Generic skills:
- Communication skills, Analytical ability, Integrity.
Application Closing Date
17th April, 2019.
Method of Application
Interested and qualified candidates should send their CV to:
[email protected] with the relevant position applied for as heading.