Head, Internal Control at Mutual Benefits Microfinance Bank Limited

Location: Ebute Metta, Lagos

Job Description

• Design, revise or update appropriate internal control, audit & compliance strategy and framework for the bank.
• Ensure proper documentation, recording and tagging of the company’s fixed assets.
• Liaise with external auditors
• Makes financial control-related recommendations on specific major projects or plans.
• Ensure that credit facilities to any customers or group of customers are in line with the regulatory guidelines; clearly defined internal policies and debt service capability.
• Monitoring of conditions subsequent to draw down for timely detection of documentation deficiencies.
• Ensure that all credits have been approved in accordance with the credit policy.
• Ensure that all pre-disbursement conditions have been met.
• Ensure that all collateral documents are properly kept and perfection carried out.
• Review approved credit for quality, performance and compliance with approved terms & condition in the credit policy. Ensure all credit are approved in accordance with the credit policy and any regulatory guidelines. prompt escalation of any deficiencies noted
• Carry out spot checks on loan customers to verify due diligence done prior to draw down
• Identify all non performing accounts and pursue workout strategies in collaboration with loan officers
• Ensure that limits are monitored.
• Ensure that income, fees, maturing repayment & other charges are captured.
• Detection and escalation of un-authorized credit.
• Implementation of policy driven credit related sanctions.
• Preparation of exception report as required.
• Custody and maintenance of credit files.
• Ensure that a review of the portfolio is carried out on a quarterly basis
• Ensure that appropriate recommendations are implemented such that the desired level of credit quality and performance are attained and sustained.
• Take necessary measure to ensure adequate quality assurance in operation i.e. call over. General ledger proofing/ reconciliation, integrity test, departmental control etc.
• Ensure proper verification of expenses before processing and disbursement of funds.
• Track bank deposits and payments
• Ensure compliance on report rendition to regulatory bodies.
• Ensure compliance to the bank rules, policies, and regulations.
• Review of the statutory returns to regulatory authorities and government agencies to ensure accuracy and timely rendition.
• Customers’ visitation for random deposit verification.
• Review the accuracy and reliability of financial transaction records – cash deposits, cash withdrawals, treasury bills investments, fixed deposits, and funds transfer.
• Involve in the thorough review of the bank’s accounting software, applications, digital platform and authorizations or permissions for efficiency.
• Reviewed customers’ account opening documents for compliance with Know Your Customer (“KYC”) policy and anti-money laundering requirements.
• Ensure compliance with the bank’s policies and conduct daily, weekly and monthly General Ledger (GL) review for reconciliation.
• Conduct sweep exercise and spot check on tellers and account officers.
• Schedules and plans audits; initiates project planning, assess risk and develops audit direction.
• Performs preliminary planning and establishes direction for audits, provides leadership to assigned auditors, manage project to quality outcomes, while meeting established time budget.
• Carry out spot checks on operational activities at branch, area and regional levels and take action on infractions or non-compliance issues.
• Conduct periodic checks on payroll.
• Ensure that prompt investigation of frauds, forgeries, breach of policies and procedures and serious customer complaints are conducted and ensure necessary action is taken on the outcome.
• Make recommendation for policy amendments based on emerging issues in audit and internal control.
• Takes responsibility for the training, coaching and mentoring of subordinates
• Perform other duties and responsibilities, as may be assigned by the Managing Director or by the Board.

Qualifications

• A good Bachelor's degree/HND in Accountancy, plus Relevant professional qualification such as ICAN, CIBN, etc. MBA or M.Sc. will be added advantage.
• Minimum of 7 - 10 years relevant experience in a reputable firm preferably in the Financial Services Industry, Experience in a microfinance bank setting in related role is an added advantage.
• Experience in reporting to a Board/Board Committee.

Skills & Knowledge:

• Proficiency in Microsoft Excel and other Microsoft office programmes
• Knowledge of relevant accounting packages
• Knowledge of best practices in internal control and audit
• Knowledge of existing regulatory framework
• Excellent reporting skills
• Strategic thinking
• Managerial and leadership skills
• Firmness
• Good oral and written communication skills
• Integrity
• Flair for details
• Team-building skills
• Skill in examining and re-engineering operations and procedures, formulating policy, and developing and implementing new strategies and procedures.