Head, Internal Audit and Control at Lagos Building Investment Company PLC (LBIC)

Job Summary

• The Head, Internal Audit & Control provides the shareholders, Board of Directors and Executive Management with an independent view of the operational and financial performance of the company.
• He determines the extent of compliance with controls and established policies, plans and procedures and report on the effectiveness and exceptions.
• Examines and analyzes accounting records to determine financial status of establishment and prepare audit reports concerning operating procedures.

Job Responsibilities

• Prepare detailed reports on audit findings.
• Report to the Leadership about asset utilization and audit results, and recommend changes in operations and financial activities.
• Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
• Supervise audit of the company and determine the scope of investigation required.
• Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
• Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity.
• Confer with Leadership about financial and regulatory matters.
• Examine records and interview workers to ensure the recording of transactions are in compliance with laws and regulations.
• Examine inventory and verify inventory records.
• Conduct pre-implementation audits to determine if systems and programs under development will work as planned.
• Direct, plan and coordinate the audit of various Business, Finance, Accounting functions and ensure maintenance of correct financial records.
• Review activities of Finance Department to ensure adherence to company’s financial policies and procedures.
• Propose and obtain approval for the company’s audit programme from the MD/CEO and Board Audit Committee.
• Review the company’s operational and financial activities, controls, systems and procedures and recommends improvements.
• Issue audits reports to the leadership and the Board of Directors on a timely and scheduled basis.
• Liable with the company’s external auditors to conduct the annual financial audits and prepare financial reports.
• Appraise, train and ensure the professional development of the Audit department’s personnel in accordance with the company’s policies and procedures.
• Coordinate the development and sharing of relevant risk management and financial control policies, processes and procedures with all business units within.
• Ensure that AML/CFT and CBN Returns are accurate and sent in a timely manner.
• Other duties assigned by MD/CEO and Board Audit Committee.

Key Performance Indicators:

• A number of implemented opportunities for improvement (OFI) vs. raised opportunities for improvement during internal and external audits.
• Average of time to implement corrective action.
• Timeliness of the audit programs and reports
• Number and severity of crystallized risks and frauds.
• The turnaround time to complete the audit cycle
• Number of issues raised by external auditors
• Cost savings in audit operations
• Level of organizational compliance.

Qualifications

• Interested candidates should possess a Bachelor / Master's Degree
• 10 to 15 years of relevant work experience.

Job Knowledge:

• Knowledge of Nigerian Mortgage Banking Industry / Banking Industry
• Financial and Management accounting
• Audit Principles and procedures.
• Financial Accounting Standards
• Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• Administration and Management Knowledge of business and management principles involved in strategic planning, resource allocation, leadership technique and coordination of people and resources.
• Law and Government Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders and agency rules

Job Skills:

• Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Reading Comprehension Understanding written sentences and paragraphs in work-related documents.
• Critical Thinking ¬– Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Speaking Talking to others to convey information effectively.
• Writing Communication effectively in writing as appropriate for the needs of the audience.
• Complex Problem Solving Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions
• Active Learning Understanding the implications of new information for both current and future problem-solving and decision making.
• Judgement and Decision Making Considering the relative costs and benefits of potential actions to choose the most appropriate one.
• Time Management Managing one’s own time and time of others.
• Monitoring / Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective actions.
• Persuasion Persuading others to change their minds or behaviour.
• Coordination Adjusting actions in relation to others’ actions.
• Management of Personnel Resources Motivating, developing, and directing people as they work, identifying the best people for the job.
• Negotiation Bringing others together and trying to reconcile differences.
• Social Perceptiveness Being aware of others’ reactions and understanding why they react as they do.
• System Analysis Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
• Instructing Teaching others how to do something.
• Service Orientation Actively looking for ways to help people
• Systems Evaluation Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.

Job Requirements / Work Styles:

• Integrity
• Analytical Thinking
• Leadership
• Initiative
• Attention to Detail
• Dependability
• Achievement/Effect
• Persistence
• Stress Tolerance
• Adaptability/Flexibility
• Cooperation
• Independence
• Self-Control
• Innovation
• Concern for others
• Social Orientation
• Banking experience
• ACA/FCA is compulsory.