Finance Operations Control Officer at Moniepoint Inc.

The Finance Operations Control Officer is responsible for executing the Second Line of Defence (2LoD) oversight function over the Bank's core Finance functions, including Financial Reporting, Accounts Payable, Financial Accounting, and Financial Planning & Analysis (FP&A). The role's primary objective is to independently evaluate and monitor the effectiveness of internal controls, compliance with financial policies, and adherence to accounting standards (IFRS) and regulatory requirements across the Finance organization.

Duties & Responsibilities:

• Control Monitoring & Evaluation - Perform ongoing and periodic monitoring activities to assess the design and operational effectiveness of key financial controls of the First Line of Defence (Finance & Accounting team).
• Process Compliance Review - Conduct regular reviews of high-risk financial processes as documented in the Finance Procedural Manual, ensuring adherence to defined SOPs, approval workflows, and reconciliation cycles for:
  • ERP Data Validation, Management Account review, and Bank Reconciliations validation.
  • Review of Monthly Deliverables - Intercompany Balance Reconciliation, Month-End Management Account finalization, and Balance Sheet Substantiation.
  • Accounts Payable Validation - Invoice processing, payment workflows, P2P vs. Cash payment reconciliation, journal entries validation and  month-end closure.
• Exception Reporting - Develop and manage the finance function Key Risk Indicator (KRI) dashboard that generates and analyses outliers reports on breaches of internal or regulatory limits and potential control failures in finance operations.
• Documentation & Review - Review and validate the adequacy of finance policies, procedures, and documentation for alignment with the Bank’s risk appetite, the Internal Control Framework, and regulatory standards.
• Control Design Advisory - Advise the Finance Department on strengthening internal controls and implementing corrective actions to address control weaknesses, aligning the control mix (preventive, detective, corrective) with the overall risk strategy.
• Segregation of Duties - Verify and monitor that Segregation of Duties is maintained within financial systems and manual processes to prevent conflicting responsibilities
• Financial Reporting Risk Assessment - Proactively monitor the risks of Misinterpretation or Inappropriate Application of Accounting Policies/Standards (IFRS), ensuring Financial Reporting personnel maintain up-to-date practice, training, standards knowledge and application.
• Balance Integrity Assurance - Validate Balance Sheet Substantiation, verifying that all General Ledger (GL) balances are adequately supported with documentation and that aged or unusual items are properly investigated and resolved by the respective GL owners while maintaining repository of validated proof for all qualifying ledgers.
• System Integrity - Review controls around key financial systems and applications to ensure data consistency, reliability of information, and compliance with IT protocols for financial reporting and decision-making.
• Product Accounting Validation -  Monitor the controls surrounding the financial accounting for key products focusing on areas like ECL Computation, GL Creation, Fixed Asset Recognition etc.
• FP&A Control Review - Verify the reliability and controls around inputs and outputs of the Financial Planning & Analysis unit, including the Rolling Forecast, Annual Budgeting, and preparation of Management/Board Pack reports.
• Exception Reporting - Report on variances, unresolved bank reconciliation items, and control failures identified during monitoring activities, tracking all corrective action plans to closure.

Skills and Competencies:

Skills, Competencies, Technical and Non technical

What you need to succeed

• Internal Control Frameworks: Good understanding and practical experience with the COSO internal control framework, ISO 31000 (Risk Management).
• Financial Reporting: Strong knowledge of financial reporting principles, including the ability to confirm accuracy and completeness of income and expense lines, and assess asset and liability classes in financial statements.
• Data Validation & Analysis: Proficiency in developing control programs and test scripts to validate data accuracy, completeness.
• Risk Assessment: Experience in designing and conducting internal control assessments, particularly for income and expense lines, asset and liability classes, and identifying control deficiencies.
• Stakeholder Management: Proven ability to build and maintain effective relationships with stakeholders across different departments.
• Continuous Improvement Mindset: A commitment to continuous learning and improvement in the field of financial technology
• Adaptability: Ability to adapt to a dynamic and evolving threat landscape and regulatory environment.
• Leadership: Ability to lead assessments and oversee communication and feedback collection with stakeholders.
• Communication: Excellent written and verbal communication skills to effectively document and communicate assessment findings.
• Analytical & Problem-Solving: Strong analytical and problem-solving skills to identify control deficiencies, assess their impact, and develop remediation plans.
• Organizational & Time Management: Excellent organizational and time management skills to manage multiple assessments, remediation efforts, and reporting requirements.

Experience and Education

• Educational Background: A Bachelor's degree in Accounting, Business Management, Finance, Risk Management or a related field.
• Certifications:  ACA, ACCA,  CIA, FRM or others related certification
• Experience: 4 - 6 years proven experience in  conducting internal control assessments, auditing with a strong understanding of COSO framework and IFRS standard application. Experience in a big four, banking or financial services sector conducting ICFR assessment would be an advantage.
• Familiarity with the Basle Committee Principles for Internal Control Systems in Banking Organisations.
• Framework and Standard Knowledge: In-depth knowledge and practical experience with the COSO internal control framework,  ISO 31000 (Risk Management) and the relevant IFRS standards as applicable.
• Integrity and Professionalism: High level of integrity and professionalism in handling sensitive information and maintaining objectivity in assessments.
• Management Reporting - Prepare reports on the control environment of the Finance function to the Lead Treasury and Finance Control for the attention of the Business and Function Leader’s, Head of Internal Control and the Finance, Audit, and Risk Committee (FARCo).
• Oversee the communication and collection of feedback on control design and operations effectiveness tests, findings and recommendations with stakeholders within finance operations, ensuring clear and timely information exchange.
• Oversee the conduct of post-review follow-up assessments to evaluate whether all identified open findings from assessments have been sufficiently mitigated.
• Carry out any other task, as might be assigned or becomes necessary to improve the treasury and finance operation posture and the internal control maturity in Moniepoint MFB, with a continuous focus on enshrining the principles of the COSO framework, ISO 31000  and the related  IFRS standards.