Head of Department Financial Audit

Responsibilities:

• Plans financial audits by understanding organization objectives, structure, policies, processes, internal controls, and external regulations; identifying risk areas; determining audit scope and objectives; drafting audit programs.
• Assesses compliance with financial regulations and controls by executing audit program steps; testing general ledger, account balances, balance sheets, income statements, and related financial statements; examining and analyzing records, reports, operating practices, and documentation.
• Assesses risks and internal controls by identifying areas of non-compliance; evaluating manual and automated financial processes; identifying process weaknesses and inefficiencies and operational issues.
• Communicates audit progress and findings by providing information in status meetings; highlighting unresolved issues; reviewing working papers; preparing final audit reports.
• Supports external auditors by providing information required.
• Provides financial control information by collecting, analyzing, and summarizing data and trends.
• Deliver training/knowledge transfer sessions to meet departmental cross training needs
• Ensure chargebacks and disputes are resolved in line with existing rules, and appropriate approvals are obtained for all transaction reversals
• Computation of Scheme (Payattitude, VISA, MasterCard, UP, and American Express) Income-Acquiring,
• Switching and Processing Income.
• Obtain assurance on accuracy of all transaction-based fees and income from services rendered.
• Confirm accuracy, adequacy, and completeness and prompt settlement of Merchant(s) in line with terms of engagement.
•  Ensure the integrity and accuracy of bank reconciliations
•  Independent reconciliations of revenue accounts to determine accurate and correct account General Ledger Positions
•  Shall conduct periodic data analysis on Web, ATM, POS and Mobile income streams and reconciliation to the general ledger and the production of audit reports in line with approved audit Plan.
•  Detailed periodic review of Agency services, banking, Settlement and collection transactions.
•  To conduct detailed investigation as may be required from time to time.
•  To conduct Financial Audit and Other Audit Reviews such as stock take exercise, inventory management review and reporting, Staff allowances and advances review and audit, Fixed asset tagging and verification, Consumable consumption management, prepayments, Accounts Payables, PayAttitude stock management & Operations review, Spot checks on company’s cash and fixed assets, attendance at User Acceptance testing for projects /products and the management of asset bidding process for item disposal.
•  Proffer workable value added solutions for management consideration.
• Effectively discuss audit issues and develop business focused controls recommendations to strengthen control lapses and weaknesses.
• Conduct investigation assignments from time to time.
• Perform ad hoc tasks, assignments, and departmental administrative duties as assigned from time to time.
• Independent review and computation of the company's income on dispute management systems.
• Independent Review and computation of company’s income on all ongoing and completed projects implementation
• Independent Review and computation of company’s income on Personalization and fulfillment activities for partner banks and merchants
  
• Independent review of merchant onboarding process and fraud analytics platform in line with Global Accepted Standards on AML/CTF as well as International card schemes.

Key Performance Indicators:

•  100% achievement and timely submission of audit reports.
•  Timely completion of all financial audit assignments within agreed KPI timeline
•  Timely submission of reports for Management comments and approval.
•  Timely conduct of departmental training within a given appraisal period.
•  Timely conduct of investigation assignments for Management decision making

Requirements:

• Education University: First degree in Accounting/ Business Admin. Certifications: Certification in Accounting (ACCA, ACA) is mandatory Others: CISA (Certified Information System Audit) would be an added advantage.
• Experience: Understanding of the key technical concepts in Financial Audits. Minimum of 10 years and above audit working experience in Financial Auditing. 

Key Competency Requirements:

• Knowledge
• Financial Auditing & Accounting knowledge
• Fundamentals of E-payment Settlement process and cycle.
• Payment Card concepts and techniques.
• Clear understanding of Payment Card industry standards and Regulation.

Skill/Competencies

•  Strong interpersonal skills and Deductive reasoning abilities.
•  Good analytical and financial reporting skills.
•  Financial Diagnosis, Analyzing Information
• Research Skills
• Reporting Research Results
• Verbal Communication
• Integrity and Trust
• Attention to Detail and Objectivity