Internal Control and Compliance Officer at Fedeth Microfinance Bank

Job Summary

• To review all internal processes, systems and policies and make recommendations to ensure the risk to the business is minimised with a view to delivering improvements by advising, coaching and facilitating in order to not undermine the responsibility of management.

Main Duties & Responsibilities

• To plan, organize and carry out the internal controls function including the preparation of an audit manual and audit plan.
• Conduct risk assessment of all departments
• Reports risk management issues and internal controls deficiencies identified directly to the CFO and Company Board and provides recommendations for improving the organisation's operations.
• Evaluate compliance with existing Fedeth policies and procedures, identifying and proposing modifications as needed.
• Identify areas of strengths and weaknesses and engage in continuous education and staff development re best practices
• Review the responses to internal and external audit management letter queries to ensure that recommendations are implemented and ensure that all action items are resolved
• Issuance of cheque books and stamps to branches and Head Office departments
• Review of credit bookings and system limit for approvals, documentation and perfection
• Review of risk asset reports for unauthorised credits disbursements and set up rates
• Review of the cheques-in-clearing process for irregularities
• Monitor month end and customer’s statement distribution for prompt and efficient delivery service
• Review of contingent asset and liability instruments for proper approvals and documentation in compliance with the organisation’s credit policy
• Review of credits in general for performance and recovery efforts on problem loans
• Review customer complaint register and suggestion boxes
• Review all sensitive accounts as determined by the Head Internal Control and Operational Risk to ensure that they are operated in line with the approved policy of Fedeth
• Evaluate regulatory compliance program
• Formulate policies and procedures to improve internal controls, compliance and efficiency
• Lead the process for internal controls reviews across the group
• Deliver adequate and timely reporting on the internal control framework and control
• Deficiencies to ensure appropriate communication, documentation, escalation to business partners, senior leadership and audit committee
• Deliver adequate and timely action plans and monitor progress to address and resolve control deficiencies
• Work collaboratively with business and process owners to implement and monitor remediation efforts that result from internal control assessments, ensuring the effective implementation of corrective action.
• Actively seek standardization and automation, apply and implement best practices for managing internal controls and deploy innovative technology where possible to enhance and continuously improve the design and operating effectiveness of the controls, documentation, provides support to the company's anti-fraud programs.
• All other duties as reasonably requested

Requirements

• Candidates should possess a Bachelor's Degree, HND qualification with 2 - 4 years work experience.

Technical Skills:

• High level of integrity
• Excellent understanding of regulatory universe
• Deep knowledge of global leading strategies for operational risk management
• Excellent modelling skills using excel and other modelling software
• A deep understanding of Fedeth’s processes and procedures

Soft Skills:

• Good leadership, supervisory and people management skills
• Good analytical and problem-solving skills
• Excellent presentation and facilitation skills
• Excellent communication (written and oral) and interpersonal skills
• High sense of responsibility, accountability, and dependability