Internal Control Officer at Rand Merchant Bank

Job Description

• To support the development, implementation, and monitoring of internal control processes and systems to ensure compliance with organizational policies and regulatory requirements.
• Conduct detailed control reviews, prepare reports on findings, and collaborate with departments to remediate control weaknesses.
• Play a critical role in safeguarding the organization’s assets and ensuring the accuracy and reliability of operational and financial processes.

Responsibilities
The successful candidate will be responsible for supporting the Internal Control Manager:

• Conduct regular reviews of financial transactions and operational processes to ensure accuracy, completeness, and compliance.
• Perform independent spot checks across various units to identify control weaknesses and recommend corrective actions.
• Monitor adherence to approved limits of authority and access levels, ensuring a robust compliance environment that prevents operational losses and regulatory infractions.
• Track sensitive processes across key units to ensure alignment with regulatory directives and internal standards.
• Collaborate with relevant stakeholders to conduct detailed reviews of internal controls across departments, identifying gaps and ensuring compliance with organizational policies.
• Identify inherent risks in business processes, assess the effectiveness of mitigating controls, and document findings in line with professional standards.
• Monitor compliance with regulatory requirements and internal policies, providing timely feedback to relevant stakeholders.
• Maintain a comprehensive log of control deficiencies, ensuring timely updates, follow-up, and closure.
• Support line management and other stakeholders with assigned duties related to internal control and compliance.
• Facilitate internal control awareness training for staff, promoting a culture of accountability and compliance.
• Utilize data analytics tools to detect patterns, anomalies, and potential control breaches.
• Verify the accuracy and completeness of key reports, reconciliations, and documentation used in decision-making.
• Assist in the review of third-party service providers to ensure alignment with the bank’s control standards.
• Stay updated on industry best practices, regulatory changes, and internal control methodologies to enhance review effectiveness.
• Maintain awareness of emerging risk issues and changes in risk status across business units.
• Share knowledge and insights with colleagues to foster continuous improvement and learning.
• Perform any other duties as assigned by line management or relevant stakeholders.

Requirements

• Bachelor’s Degree in Accounting, Finance, Business Administration, or related field.
• Minimum of 3 – 5 years experience in internal control, audit, or risk management within the banking sector.
• Professional certifications (ICAN, ACCA, CIA, CISA) are an added advantage.
• An appreciation of regulatory and legal requirements across different products and business lines.  

General Competencies: 

• Proficiency in MS Office tools
• Strong analytical skills & logical thinking  
• Good interpersonal and time management skills  
• Keen attention to detail  
• Good communication (written and verbal) skills   
• Achievement-driven and takes accountability for work assigned  
• Creative and innovative thinking  
• Customer-focused  
• Ability to work under pressure with minimum supervision  
• Takes initiative, proactive mindset  
• Ability to motivate others  
• Business and commercial awareness.