Head of Audit, Internal Control, Risk Management and Compliance at Peridot Forte Solutions Consulting

Responsibilities:

Internal Control

• Manage the Internal control function and ensure it provides an independent assessment of the adequacy of internal systems and controls
• Documenting and testing business process and IT controls that support key financial operations
• Evaluating control deficiencies, and monitoring remediation actions, timelines, and progress
• Determine procedures are adequate to prevent or detect fraud, suppression, theft or misappropriation and implement the anti-fraud campaign
• Prepares monthly exception reports and presents to the Managing Director
• Take responsibility for the Bank’s annual control work program using the internal control framework within the Bank
• Ensures capital & revenue expenditure complies with policies and approval limits
• Initiates policy and process reviews, including ensuring they are up to date with all legislation and best practices
• Participate in the review of applications to ensure data integrity, confidentiality, and availability by preventing unauthorized access always
• Review and report on on network security issues, secured application development, database security, physical/server room security, user access rights management, incident and problem management, log management, business continuity and disaster recovery planning, etc

Internal Audit

• Develop annual audit plan for board approval and conduct audits in accordance with the approved plan
• Conduct follow-up reviews of financial, operational, or regulatory compliance deficiencies noted during audits
• Oversee and ensure preparation of timely internal Audit reports to the Board audit committee and provide progress reports regarding action taken by management
• Prepares monthly regulatory renditions and returns – GoAML, Credit Bureau Reports, etc

Risk Management

• Directs and supervises the implementation of an effective risk management framework across the various risk types to ensure regular monitoring of activities, timely identification and reporting of significant risks/losses including effective mitigation and control actions in the Bank
• Proactively provide risk management advice across the Bank, identifying emerging risks and advising the Board on appropriate risk management options
• Reporting on key risks, including agreeing mitigating controls and escalating other risks
• Manage, motivate and coach the enterprise risk team to ensure they are delivering their objectives in line with agreed standards and quality and where necessary implement development programs to optimize competence and productivity
• Lead in the drive to create risk awareness by ensuring that all employees of the Bank receive risk awareness training and that this is updated regularly to ensure proactive self-assessment to minimize the occurrence of incidents
• Preparation of Management and Board Risk Oversight Reports.
• Conduct quarterly independent risk assessments of the Bank using the risk-based examination template
• Develop and update a complete system for recording, monitoring and communicating the organization’s risk management and control program
• Carrying out secretarial duties at Risk Management Committee meetings which come up once in every quarter

Compliance

• Maintaining current knowledge of laws, regulations, procedures, and policies governing the Bank
• Ensures that the Bank is in compliance with various regulatory requirements and that employees are in adherence with internal procedures and policies.
• Developing, reviewing, and implementing compliance policies, programs, and procedures
• 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.
• Ensure compliance with loan disbursement to credit policies
• Designated as Chief Compliance Officer of the Bank
• Follow up on compliance with the CBN/NDIC recommendations as per previous risk-based examination report of the Bank
• 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
• 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

Requirements

• Bachelor’s Degree or its equivalent in Finance, Accounting, Economics or Management.
•  Professional accounting certification, e.g. ACA, ACCA, CPA, CIMA, CISA. Possession of other relevant higher Business Degree (MBA) will be an added advantage
• Undergoing or has undergone the Microfinance Certification Programme and obtained a Certificate in Microfinance Banking issued by the Chartered Institute of Bankers of Nigeria (CIBN)
• Minimum 5 years’ cognate experience in a structured organization, 2 years of which should be at Managerial level, or in an audit firm
• In-depth knowledge of Internal control framework for the Microfinance Industry
• Prior board-level experience/ experience reporting to a board/ board committee