MKOBO Microfinance Bank Limited is a fully licensed MFB by the Central Bank of Nigeria (CBN). MKOBO was conceived to help solve consumers’ need for access to short-term emergency credit. Our goal is to provide access to short term unsecured loans, which is easily accessible. We cater to the demography currently underserved by the Commercial banks in ou...
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The Head, Internal Control & Compliance is fully responsible for ascertaining and assessing the soundness of accounting and financial controls and procedures.
He/she assesses the accuracy, timeliness and relevance of management information, appraising the efficiency of established policies and procedures, reviewing them in the light of changing circumstances while also ensuring that Internal Control checks are carried out on all transactions.
Plan, organize and execute the internal control and compliance functions in line with Group’s internal policies and regulatory policies.
Provide an advisory role and supports regulatory issues of the institution’s departments.
Conduct risk assessment of departments/branches/functional areas in accordance with timelines
Develop, initiate, maintain and revise policies and procedures for the operation of the compliance program and its related activities to prevent money laundering, illegal, unethical, or improper conduct. Manages day-to-day operation of the program.
Collaborate with other departments such as Risk Management, Internal Audit, Human Resources to direct compliance issues to appropriate existing channels for investigation and resolution.
Carryout revenue assurance to prevent income leakage across product lines
Ensures that the Bank is in compliance with various regulatory requirements and that employees are in adherence with internal procedures and policies.
Provides leadership, direction, and integration of compliance activities to fulfill Mkobo needs and state and federal regulations. Directs the formulation of strategic compliance planning in support of Mkobo’s vision, Mission, Objectives and values.
Directs integrated implementation and evaluation of compliance initiatives and ongoing activities for compliance units, Dispute Resolution, and Internal Audit and other compliance partners as may be identified to serve future needs, Interfaces with senior administration, staff, and government agency officials in the representation and development of various strategic compliance programs, policies, services, and initiatives.
Serves as the Mkobo MFB’s chief representative and advocate for excellence in compliance functions.
Ensures effective review in Reconciliation and investigation of errors and differences in accounts and cash
Review of fees, interest rates & Loan application and disbursement processes and monitoring effectiveness of such.
Effectiveness in GL, bank Asset and liabilities accounts review.
Cash suppression & Fraud Prevention & Detection and other Initiatives and effectiveness
Quality & Timely rendition of review report, Board report and other adhoc reports. (Two weeks before board meeting)
Control measures on Loan repayment/ collections and default
Ensure timely rendition of periodic regulatory reports such as CBN, NDIC, NFIU etc.
Review the responses to external audit management letter to ensure that all recommendations are implemented; follow-up on audit action plan to ensure all action items are resolved
Identify areas of potential compliance vulnerability and risk, and ensure the development and implementation of corrective action plans for resolution of problematic issues and provide guidance to avoid future recurrence.
Provide reports on a regular basis and as directed or requested on the adequacy of Controls and Compliance issues to Management and Board of Directors.
Review general information technology controls for effectiveness
Any other assignment by Management and Board.
Bachelor's Degree in Accounting or other disciplines from a reputable University
MBA or M.Sc. will be added advantage
Relevant professional qualification such as ICAN/ACCA/CIS/CFA/ACA/ACAMS
CIBN MCP certified
8-10 years experience in Risk/Control functions in the Financial Services Industry
Experience in a Microfinance bank setting in related role is an added advantage
Must have previous experience of reporting to a Board/Board Committee.
Internal Control / Compliance & Investigation
Financial and operational audit of organizations
Fintech/Financial Services/Banking Industry Knowledge