Group Head, Internal control & Audit at Alfred & Victoria Associates

Location: Abuja, Lagos  (Oversight Responsibility Across Multiple Locations)

Reports To: Managing Director/Chief Executive Officer and Board Audit Committee

Job Summary

• The Group Head, Internal Control & Audit is responsible for providing independent and objective assurance on the effectiveness of the Group's governance, risk management, internal control systems, and financial processes across all business locations.
• The role ensures accountability for the organization's assets and liabilities, safeguards company funds, enforces compliance with approved policies and procedures, and promotes operational efficiency and financial integrity.
• The incumbent will oversee audit activities across multiple locations, ensuring that all funds received and disbursed are properly authorized, accurately recorded, and utilized strictly for approved purposes in accordance with company policies and regulatory requirements.

Key Responsibilities
Internal Control and Compliance:

• Develop, implement, and continuously improve the Group's internal control framework across all locations.
• Ensure strict compliance with organizational policies, procedures, financial regulations, and statutory requirements.
• Monitor adherence to approved financial controls and recommend corrective actions where weaknesses are identified.
• Lead initiatives aimed at strengthening corporate governance and risk management practices.

Audit Management:

• Develop and execute annual risk-based internal audit plans for all business units and locations.
• Conduct periodic audits of financial, operational, administrative, and compliance activities.
• Prepare audit reports highlighting findings, risks, recommendations, and management action plans.
• Follow up on audit recommendations to ensure timely implementation and closure of identified issues.
• Coordinate investigations into suspected fraud, financial irregularities, and policy violations.

Financial Control and Accountability:

• Maintain accountability for all organizational assets and liabilities by ensuring proper documentation, monitoring, and safeguarding mechanisms.
• Ensure accountability for every fund received and disbursed within the organization.
• Verify that all financial transactions are supported by adequate documentation and approvals from designated authorities.
• Monitor cash management processes and ensure that funds are utilized strictly for their approved purposes.
• Review financial records and transactions to ensure accuracy, completeness, and compliance with established policies.

Funds Management Oversight:

• Exercise oversight and control over fund management processes across the Group.
• Ensure all expenditures are supported by documented evidence and approved through appropriate authorization channels.
• Review payment processes to confirm compliance with delegated authority limits and approved budgets.
• Monitor revenue collection processes to ensure all income generated by the organization is properly accounted for and remitted.

Risk Management:

• Identify and assess operational, financial, compliance, and strategic risks affecting the organization.
• Recommend practical measures to mitigate identified risks.
• Establish mechanisms for continuous monitoring of risk exposure across locations.
• Advise management on emerging risks and control improvement opportunities.

Multi-Location Oversight:

• Provide leadership and supervision for internal control and audit activities across multiple business locations.
• Ensure consistent application of policies, controls, and audit standards throughout the Group.
• Coordinate audits and control reviews across branches and subsidiaries.
• Evaluate location-specific risks and recommend appropriate control measures.

Reporting and Stakeholder Management:

• Prepare periodic internal control, audit, compliance, and risk management reports for Executive Management and the Board.
• Present audit findings, control weaknesses, and recommendations to senior leadership.
• Liaise with external auditors, regulators, and other relevant stakeholders during audits and inspections.

Policy Enforcement:

• Enforce organizational policies, particularly those relating to financial management, procurement, asset control, and expenditure approvals.
• Ensure disciplinary and corrective actions are recommended where policy breaches are identified.
• Promote a culture of accountability, transparency, and ethical conduct throughout the organization.

Key Performance Indicators (KPIs)

• Reduction in control breaches and policy violations.
• Percentage implementation of audit recommendations.
• Number of successful audits completed according to plan.
• Reduction in financial losses arising from fraud, errors, or control failures.
• Timeliness and quality of audit and compliance reports.
• Level of compliance with financial control procedures across locations.
• Effectiveness of asset and liability management controls.

Qualifications and Experience

• Bachelor's Degree in Accounting, Finance, Economics, Business Administration, or related discipline.
• Professional certification such as ACA, ACCA, CPA, CIA, CISA, or equivalent is required.
• Master's degree or MBA will be an added advantage.
• Must have 8–12 years relevant experience in Internal Audit, Internal Control, Risk Management, or Finance, with at least 5 years in a senior leadership role.
• Experience managing audit and control functions across multiple locations.

Required Competencies:

• Strong knowledge of internal audit standards and internal control frameworks.
• Excellent financial analysis and risk assessment skills.
• Strong leadership and team management capabilities.
• High level of integrity, objectivity, and professionalism.
• Excellent report writing and presentation skills.
• Strong investigative and problem-solving abilities.
• Knowledge of relevant regulatory and corporate governance requirements.
• Proficiency in accounting and audit software applications.