Head, Internal Audit & Compliance at Pagatech Limited

Role Summary

• The Head, Internal Audit and Compliance is responsible for leading the Bank’s Internal Audit and Compliance functions and serves as its Chief Compliance Officer.
• The role provides independent assurance on the effectiveness of governance, internal controls and risk management processes, while overseeing the Bank’s compliance with applicable laws, regulations and internal policies. The role is also responsible for the Bank’s regulatory compliance framework, AML/CFT/CPF programme and engagement with relevant regulatory authorities.
• In performing this dual mandate, appropriate separation shall be maintained between ongoing Compliance activities and independent Internal Audit assurance. The role shall not provide Internal Audit assurance over Compliance activities for which it has direct execution responsibility. Such areas may be subject to periodic independent external review or other assurance arrangements approved by the Board Audit Committee.

Responsibilities
Internal Audit:

• Serve as the principal liaison with the Board Audit Committee on Internal Audit matters and provide periodic updates on audit activities, findings and remediation.
• Develop the risk-based annual Internal Audit Plan for approval by the Board Audit Committee and execute the approved plan.
• Independently assess the adequacy and effectiveness of governance, internal controls and risk management processes across the Bank.
• Conduct audits and reviews of financial, credit, operational, technology and outsourced activities, including compliance with applicable policies and regulatory requirements.
  Investigate material control exceptions, irregularities and identified weaknesses.
• Prepare Internal Audit reports setting out findings, risks, root causes and recommended corrective actions, and submit reports directly to the Board Audit Committee.
• Track agreed remediation actions and independently assess whether findings have been satisfactorily addressed.
• Maintain unrestricted access to records, systems, personnel and information required for Internal Audit activities.
• Maintain independence from the operational activities and controls subject to audit.
• Provide practical recommendations for strengthening controls and improving processes without assuming responsibility for the design or operation of those controls.

Compliance:

• Serve as the Bank’s Chief Compliance Officer and lead the Bank’s regulatory compliance function.
• Maintain the Bank’s regulatory obligations framework and monitor compliance with applicable CBN and other regulatory requirements. Identify, escalate and monitor the remediation of material compliance breaches and regulatory exceptions.
• Lead the Bank’s AML/CFT/CPF programme, including KYC/CDD, sanctions screening, transaction monitoring, suspicious transaction escalation and required regulatory reporting.
• Oversee compliance with customer onboarding and ongoing KYC requirements.
• Coordinate Compliance-related regulatory returns, submissions and record-keeping.
• Manage regulatory correspondence, inspections, examinations and remediation of regulatory findings.
• Monitor regulatory developments and advise Management and the Board on their implications for the Bank.
• Maintain and periodically review the Bank’s compliance policies, procedures and compliance monitoring programme.
• Conduct risk-based compliance monitoring and testing and provide periodic compliance reports to Management and the Board.
• Coordinate appropriate regulatory and compliance training across the Bank.

Requirements

• Minimum of 4 years’ relevant experience in internal audit, compliance, internal controls or financial services.
• Candidates should have demonstrated experience independently managing audit and/or compliance responsibilities and engaging with senior management, regulators or Board-level committees.
• Bachelor’s Degree in Accounting, Finance, Economics, Business, Law or another relevant discipline.
• Relevant professional qualification in accounting, audit, compliance, risk or financial crime, such as ACA, ACCA, CIA, CISA or equivalent, is preferred.
• Strong knowledge of internal audit, internal controls, AML/CFT/CPF, regulatory compliance and financial-services regulation.
• Certificate in Microfinance Banking issued by the Chartered Institute of Bankers of Nigeria (CIBN), or willingness to obtain the certification where required.
• Strong analytical, investigative, report-writing and stakeholder-management skills.
• Ability to interpret regulatory requirements and translate them into practical controls and compliance actions.
• Proficiency in audit, MIS, data analysis and reporting tools.