Head, Internal Control / Audit at Foteino Talento

Main Purpose of the Job

• The objectives of the Head Internal Control/Compliance & implementation are to assure or enhance the reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations.

Key Responsibilities

• Shall be responsible for conducting Internal Audits and overall function of the Bank. Managing External Stakeholders, Audit Committee and the Board of Directors.
• Rendition of Statutory Monthly and Quarterly Reports to external regulatory bodies and The Board of Directors
• Shall run the Department complying with guidelines of Core Risk Management as set by CBN.
• Keep constant follow-up on the resolutions of audit findings
• Adequate reporting of General Banking/ Credit/ Foreign Exchange and AML.
• Sound knowledge and compliance regarding different types of Circulars of CBN and other Regulatory bodies and compliance of the circulars/ instructions accordingly.
• Address issues relating to the work of Risk, Legal & Compliance and other control related activities.
• Conducts risk assessments and provide update on risk management status of the company to mitigate identified risks.
• Execute Internal Audits on regular basis as per plan, policy & strategy approved by the Audit Committee and prepare timely Audit Reports for the Management, the Audit Committee and the Board of Directors of the Bank.
• Ensure adequate and effective internal control system and assist the Management in formulating pertinent policies and operational procedure of the company.
• Attend Quarterly Board Meetings and other regular meetings with the CEO and other members of staff
• Recommend security measures to prevent fraudulence and risk-reduction solution.

Key Performance Indicators (KPI)

• Fraud and Operational Losses within the prescribed loss tolerance limit
• Quantum of undetected regulatory/statutory infractions from Internal Audit, External Audit, CBN, NDIC, NDLEA, EFCC and other regulatory reports for the cluster.
• Quantum of undetected internal policy and procedure infractions fromInternal Audit, External Audit, CBN, NDIC and other regulatory reports in the cluster.
• Quantum of undetected major exceptions fromInternal Audit, External Audit, CBN, NDIC and other regulatory reports in the cluster.
• Quality and Timeliness of reporting losses (If any) and loss events reporting in branches in the cluster
• Magnitude of potential loss figures on branches GL accounts in the cluster.
• Overall Internal Audit rating of Internal Control in the Bank.
• Undetected Income leakage/P&L reversal arising from undetected processing errors in your cluster.
• Level and timing of usage of Control Exception Manager to records exceptions observed by branch controllers in your cluster
• Integrity of the GL accounts in banks in your cluster.
• Promptness, Accuracy and Validity of Exception Reporting//Rendition of all Control Activity Reports
• Exceptions observed in peer review, control adequacy checks and other internal control quality assurance checks administered on your cluster
• Gaps between the prescribed TAT and actual service delivery period.
• Level of implementation of independent verification proof chart as it relates to your function
• Level of planned training for subordinates achieved
• Proficiency level on the bank general policies and procedures.
• Proficiency level on the bank core banking application Proficiency level on various office automation solution- excel, words, power points etc.

Requirements

• Candidates should possess relevant qualifications and work experience.