Inspections & Examination Manager at Nigerian Stock Exchange

Division: Regulation
Department: Broker Dealers Regulation
Report to: Head, Broker Dealer Regulation
Grade: Inspect. & Exam. Manager
Estimated Date Of Resumption: Sunday, July 1, 2018

Job Summary

• The Nigerian Stock Exchange (The Exchange) services the largest economy in Africa, and is championing the development of Africa’s financial markets. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services and more.
• It is an open, professional and vibrant exchange, connecting Nigeria, Africa and the world. The incumbent would be required to have a thorough understanding of the Nigerian capital market rules and regulations, broad inspections and examinations or audit experience, as well as a strong analytical background, including stellar academic credentials.

Key Responsibilities

• Responsibilities include Conduct Off- site and On-site inspections and examinations of Dealing Member Firms in line with The Exchange’s risk based supervision framework and preparing inspection reports within the stipulated timelines
• Oversee the Inspections and Examinations activities conducted by the Unit
• Develop pre-examination parameters before the commencement of any examination cycle
• Develop and direct the implementation of the Inspections and Examinations related plans and strategies for the Unit
• Provide assurance on the integrity of the Inspections and Examinations processes
• Liaise with relevant departments and units within the Exchange in the course of the Inspections and examinations related activities
• Conduct pre- trade inspections of newly licensed firms to confirm that all requirements are met before clearance to commence trading can be granted
• Conduct pre-branch opening inspections to ensure that branch offices of Dealing Members meet the standards set by The Exchange
• Liaise with relevant departments affected by any outcomes of inspections activities
• Modelling and development of inspection report templates
• Preparation and review of the inspection reports prepared by other members of the inspection team
• Risk assessment of Dealing Member Firms to ensure that they satisfy the requirements of their membership of The Exchange
• Continuous risk profiling of firms in line with The Exchange’s Risk based supervision framework
• Review the compliance profile of firms to ensure that they satisfy the NSE Rules and Regulations Governing Dealing Members
• Track recommendations in inspection reports and liaise with the Monitoring and Enforcement unit to follow through with enforcement actions as appropriate
• Conduct Target examinations on Dealing Members based on market intelligence reports
• Initiate and escalate disciplinary actions against defaulting firms
• Maintain a comprehensive schedule of onsite and Target Examinations
• Participate in relevant Exchange projects
• Attend meetings and represent the Unit and Department at relevant for a
• Perform other tasks as assigned by the Unit Head or Head of the Department

Job Specification
Education:

• University degree in Finance, Economics, Accounting, Banking and Finance or related fields
• MBA or Professional qualifications in Finance i.e. ACA, ACCA, CIS etc

Experience Required:

• Minimum of 6 years work experience in any of the Big 4 Audit firms, or in a financial sector regulator or as a CBN certified Bank Examiner
• Sound knowledge of IFRS, securities laws, rules and regulations, corporate governance codes/principles etc
• Ability to work on own initiative
• Must be able to build strong partnerships and relate with a wide variety of stakeholders including senior management

Personal Qualities:

• Transformative mind set, visionary and goal oriented, team player, enthusiasm to acquire and share knowledge, self-disciplined, self-starter etc

Competency and Skill Requirements
The candidate must have:

• Excellent knowledge of stockbroking operations
• Ability to manage confidential and sensitive information
• Resourceful and proactive working style
• Demonstrate professional maturity and poise; ability to manage situations and people
• Strong verbal and written communication skills; strict attention to detail
• Excellent time management, ability to multi-task and turnaround deliverables quickly
• Strong numerical and analytical skills
• Drive and enthusiasm in getting things done
• Ability to generate trust and respect from staff and external stakeholders
• Ability to work on own initiative
• Ability to manage challenging situations and key stakeholders
• Forensic auditing skills
• Ability to manage conflicting and changing priorities
• Ability to work as part of a team
• Excellent presentation skills
• Proficiency in computer applications (word, excel, power point, visio etc.) to at least Intermediate level

Functional Competencies:

• Analytical Thinking
• Investigation
• Stakeholder Management
• Microsoft Office Packages

Behavioural Competencies:

• Accountability
• Attention to Detail
• Business Environmental Awareness
• Effective Communication Skills (Written & Oral)
• Initiative
• Integrity
• Inter-Personal Relations