Internal Control Officer – E-Channels at Wema Bank Plc

The Internal Control Officer for E-Channels is responsible for ensuring compliance with transaction settlement processes, revenue collection, and reconciliation of electronic transactions. The role includes monitoring E-Channels operations, preventing income leakages, and ensuring alignment with regulatory standards and industry best practices.

Key Responsibilities

E-Channels Settlement & Reconciliation

• Ensure daily and timely remittance/settlement of transactions to prevent income leakage.
• Review and reconcile settlement transactions for NIBSS, Mastercard, Interswitch, NIP, VISA, and other E-Channels platforms.
• Ensure correctness and completeness of financial entries related to E-Tranzact, Unified Payments, and other third-party processors.
• Escalate settlement discrepancies and follow up for resolution.

Revenue Collection Monitoring

• Review Pay-Direct, E-Pay, and other revenue collection applications.
• Verify remittances of collections on behalf of billers.
• Ensure correct accounting entries for collections and remittances.
• Monitor fees and commissions to prevent income leakages.

E-Banking & Online Transactions Review

• Review WemaPay, PayDirect, and other electronic banking platforms for compliance.
• Monitor salary payments, vendor transactions, and pension remittances via electronic channels.
• Ensure proper authorization and segregation of duties for online transactions.
• Identify and mitigate fraud risks related to electronic transactions.

POS & ATM Operations Control

• Ensure compliance with POS and ATM transaction policies.
• Monitor in-branch POS transactions for accuracy and fraud prevention.
• Review ATM cash settlement and monitor aged unresolved ATM surplus account entries.
• Ensure timely reconciliation of ATM transactions and exception resolution.

Instant Card Issuance & Management

• Review instant card issuance processes to ensure proper authorization and compliance.
• Verify stock of blank cards and ensure adequate record-keeping.
• Monitor the issuance of cards to prevent fraud and impersonation.
• Ensure necessary fees and charges are correctly applied.

Security & Risk Management in E-Channels

• Monitor unauthorized processing of transactions on Wema Online & Mobile platforms.
• Ensure strong authentication and non-repudiation controls.
• Review data security measures and ensure compliance with information security policies.
• Conduct periodic reviews to assess risks related to e-banking operations.

Regulatory Compliance & Reporting

• Ensure adherence to CBN guidelines on e-payment channels.
• Generate exception reports on non-compliant transactions and escalate appropriately.
• Ensure audit trails and proper documentation of all electronic transactions.
• Provide reports and analysis on control measures for management and regulatory authorities.

Critical Success Factors

• Availability and uptime of core banking systems (Finacle, NIBSS, Interswitch, E-Tranzact, etc.).
• Strong understanding of electronic payment systems and reconciliation processes.
• Ability to detect anomalies in settlement and revenue collection reports.
• Knowledge of regulatory requirements for e-banking transactions.
• Strong analytical and reporting skills.

Requirements

• Bachelor’s degree in Accounting, Finance, Information Technology, or a related field.
• Minimum of 3-5 years of experience in e-banking operations, internal control, or transaction monitoring.
• Professional certifications such as CISA, ACA, ACCA, or CBN-related certifications are an advantage.
• Experience with banking reconciliation tools and financial transaction monitoring.