Internal Control and Compliance Officer

Responsibilities:

Internal Control & Risk Management:

• Develop and implement internal control policies, procedures, and frameworks.
• Conduct regular internal audits to assess operational efficiency and risk exposure.
• Identify gaps, weaknesses, and non-compliance issues, providing recommendations for corrective actions.
• Ensure that all transactions comply with the bank’s internal control processes and regulatory requirements.
• Investigate fraud, misconduct, and operational irregularities, providing reports to management.

Compliance Monitoring & Regulatory Adherence:

• Ensure the bank complies with regulatory guidelines from the CBN, NDIC, EFCC, SEC, and other governing bodies.
• Keep the organization updated on changes in microfinance banking laws and regulations.
• Conduct periodic compliance reviews and risk assessments.
• Prepare and submit regulatory reports to relevant authorities as required.

Policy & Procedure Implementation:

• Develop and review policies and procedures in line with regulatory requirements.
• Ensure that employees are trained and aware of compliance policies and ethical standards.
• Assist in enforcing adherence to anti-money laundering (AML) and counter-terrorist financing (CFT) regulations.

Reporting & Documentation:

• Maintain accurate records of all audit findings, control deficiencies, and compliance breaches.
• Provide timely reports to management on audit findings, regulatory updates, and compliance risks.
• Recommend process improvements to enhance internal controls and mitigate risks.

Fraud Prevention & Investigation:

• Monitor financial transactions for suspicious activities and report suspicious transactions as required.
• Investigate internal and external fraud cases, recommending preventive measures.
• Ensure adherence to Know Your Customer (KYC) and Anti-Fraud policies.

Requirements:

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
• Professional certification such as ACA, ACCA, CISA, CIBN, or ICAN is an added advantage.
• Minimum of 3-5 years experience in internal control, risk management, compliance, or auditing, preferably in a Microfinance Bank or Financial Institution.
• Strong knowledge of CBN regulations, Microfinance guidelines, AML/CFT laws, and risk management frameworks.
• Strong analytical and problem-solving skills.
• Excellent attention to detail and accuracy.
• Good understanding of financial operations and risk assessment techniques.
• Strong communication and report-writing skills.
• High ethical standards and professional integrity.
• Proficiency in Microsoft Excel, PowerPoint, and audit software.