Internal Control Officer at Prodigy Microfinance Bank

Job Summary

• Evaluating and enhancing an organization's internal control system by identifying potential risks, assessing existing control procedures, ensuring compliance with policies and regulations, implementing necessary controls to mitigate risks, and providing recommendations for process improvements, ultimately aiming to protect assets, ensure accuracy of records, and promote operational efficiency within the company.

Key Functions of an Internal Control Role
Risk Assessment:

• Identify potential risks across different business functions and operations.
• Analyze the likelihood and potential impact of identified risks.
• Prioritize risks based on their severity and likelihood of occurrence.

Control Evaluation:

• Review existing control procedures and document their effectiveness in mitigating identified risks.
• Assess the adequacy of segregation of duties within key processes.
• Test control activities through sampling methods to verify their functionality.

Compliance Monitoring:

• Ensure adherence to internal policies, procedures, and relevant laws and regulations.
• Conduct periodic compliance audits to identify areas of non-compliance.
• Report any violations or concerns to management.

Control Improvement:

• Recommend corrective actions to address identified control weaknesses.
• Develop and implement new controls to mitigate risks where necessary.
• Collaborate with department heads to ensure effective implementation of control improvements.

Reporting and Communication:

• Prepare comprehensive internal control reports detailing findings and recommendations to management.
• Communicate control deficiencies to relevant stakeholders and follow up on remediation plans.
• Provide regular updates on the status of internal control activities to the audit committee.

Requirements

• Interested candidates should possess a BSc in Accounting.