Compliance/Internal Control Officer at Shalom Microfinance Bank

Job Summary:

The Internal Control and Compliance Officer is responsible for ensuring adherence to regulatory requirements, internal policies, and risk management frameworks. The role involves monitoring financial and operational activities, identifying control weaknesses, and ensuring the bank complies with relevant laws and guidelines.

Key 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.

Qualifications & Experience:

• 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.

Skills & Competencies:

• 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.