Internal Control/Compliance Officer at VFD Group

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 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 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 adhoc assignment 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 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/Qualifications
Qualifications:

• 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: ICAN, ACCA

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 Power point
• Developed ability to produce reports and presentations to a professional standard
• Excellent written and oral communication skills
• Very good proof-reading skills.

Generic Skills:

• Communication skills, Analytical ability, Integrity.