Unit Head - Inspection & Examination at Nigerian Stock Exchange

Report to: Head, Broker Dealer Regulation
Division: Regulation
Department: Broker Dealers Regulation Department
Grade: Unit Head - I & E
Estimated Date Of Resumption: Monday, September 3, 2018

Job Summary

• The individual 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.
• Identify and implement effective controls to mitigate risk in function specific areas.
• Provide quality service, efficient and effective decision making.

Key Responsibilities

• 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
• Manage the implementation of the inspections and examinations programme
• Develop KPI’s for team members and provide the required leadership to drive an effective inspections programme
• 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 and Representative Offices of Dealing Members meet the standards set by The Exchange
• Conduct Spot checks and other ad-hoc inspections where necessary
• Conduct off site reviews / financial analysis of audited accounts/ returns
• Provide assurance on the integrity of the inspections and examinations processes
• Liaise with relevant departments and units within the Exchange in the course of inspection and examination related activities
• Review of inspection reports prepared by other members of the inspection team
• Assessment of Dealing Member Firms to ensure that they maintain the requirements of their membership status
• Review Dealing Members financial performance
• Review Dealing Members compliance profile with the NSE market rules
• Track recommendations in inspection reports and liaise with the Monitoring and Enforcement unit to implement enforcement actions as appropriate
• Initiation of disciplinary procedures against defaulting market participants on completion of on-site inspections
• Maintain a schedule of on-site and ad-hoc inspections
• Perform other tasks as assigned by the Head of the Department

Qualifications and Experience

• At least 7 years of overall professional auditing and financial management experience; practical capital market operations or financial services experience in a similar environment.

Functional Competencies:

• Data Gathering and Analysis
• Project Management
• Research and Analysis
• Microsoft Office Packages.

Behavioural Competencies:

• Collaboration
• Inter-Personal Relations.