Team Lead, Internal Control & Compliance at Guinea Insurance plc

Job Overview 

• To design, implement, and monitor a robust internal control and compliance framework that ensures adherence to regulatory requirements, mitigates operational and financial risks, and safeguards the company’s assets. The role is responsible for strengthening governance processes, ensuring compliance with NAICOM regulations and other statutory requirements, and promoting a strong control culture across the organization. 

Job Responsibilities. 

• Develop, implement, and continuously improve the company’s internal control framework in line with industry’s best practices. 
• Conduct periodic reviews of business processes to identify control gaps and recommend enhancements. 
• Ensure proper documentation of policies, procedures, and control activities across all departments. 
• Monitor the effectiveness of internal controls and recommend corrective actions where deficiencies are identified. 
• Ensure full compliance with NAICOM guidelines, Insurance Act provisions, AML/CFT regulations, and other applicable laws. 
• Develop and maintain a compliance calendar and track adherence to all regulatory filings and obligations. 
• Liaise with regulatory authorities and coordinate responses to compliance-related inquiries and inspections. 
• Conduct compliance risk assessments and implement mitigation strategies. 
• Identify, assess, and monitor operational, financial, and regulatory risks. 
• Collaborate with business units to embed risk management practices into daily operations. 
• Prepare periodic internal control and compliance reports for Executive Management and the Board Audit/Risk Committee. 
• Develop dashboards and key risk indicators (KRIs) to monitor control effectiveness. 
• Escalate significant control breaches and compliance issues promptly. 
• Develop, review, and update company policies in line with regulatory requirements and evolving risks. 
• Ensure effective dissemination and understanding of policies across the organization. 

Requirements: 

Education and Work Experience: 

• BSc / BA in law, Finance, business administration or related field. 
• Possession of relevant professional certifications is an added advantage (CISA, CIMA, ACCA, ACA etc) 
• Eight (8) to ten (10) year's experience in compliance and internal control 

Skills and Competencies: 

• Knowledge of regulations and associated company policies related to internal controls and governance and how these policies are applied within the organization 
• Ability to documents processes, perform risk or control assessments to identify risk areas and mitigations and control design weaknesses 
• Ability to keep updated with industry, regulatory changes and professional standards in internal controls 
• Excellent report writing skills. 
• Must be self-solution driven, proactive and have acceptable knowledge of the business environment.