Head, Internal Control & Compliance Job at Paga Limited
- Yaba, Lagos State
- Permanent
- Full-time
Job type: Full-time
Reports to The Board of DirectorsRole Summary
- The Head of Internal Audit and Controls plays a critical role in delivering the organization's strategic objectives by objectively assessing the adequacy and effectiveness of governance and management of risks, giving an evidence-based opinion on all aspects of governance, risk management, and compliance.
- The role is responsible for ensuring compliance with relevant laws and policies. The candidate must review and update all the business processes, evaluate the efficiency of the risk management processes; protect the organization against fraud and theft of its assets, and make recommendations on how to improve processes and procedures. Evaluate internal control and make recommendations on how to improve
- The ideal candidate for this role will have demonstrated strong leadership skills, be results-oriented, and be able to interpret the corporate vision into growth strategies and profitable operations.
- Lead, oversee, and manage all areas of the Internal Control/Audit department’s day-to-day operations to ensure KPIs are achieved; and build comprehensive and SMART goals for performance and growth.
- Review of operations to ensure compliance with policies and procedures as set by the Board as well as regulatory requirements.
- Report periodically to the Managing Director and Board, on the internal control and audit activity’s purpose, authority, responsibility, and performance relative to its plan
- Design and prepare an Audit Plan by applying a risk-based approach to ensure the organization complies with internal regulations and policies and established protocols.
- Develop and maintain the internal control and audit procedures to ensure that best practice is taken into account and that the established controls audits address specific areas of risk management.
- Evaluate operations or programs to ascertain whether results are consistent with established objectives and goals and whether the operations and programs are being carried out as planned.
- Perform consulting and advisory services related to governance, risk management, and control as appropriate for the organization.
- Investigate deviations and irregularities.
- Undertake the approved internal audit plan in line with agreed procedures.
- Analyses audit results for adequate and effective “corrective actions” for management to improve.
- Evaluate financial documents for accuracy and compliance with federal regulations.
- Coordinate with functional teams for necessary training to the staff for the purpose of improving control adherence.
- Assess the suitability of current internal controls, making suggestions for improvements where needed.
- Prepare reports of audit findings and make recommendations to the business.
- Liaise with internal advisors and examines documentation, including reports, statements, records, and memos to gather information.
- Completes standard paperwork and questionnaires to confirm internal controls.
- Establish and develop relations with senior management and external partners and stakeholders.
- Any other duties and responsibilities which may be required to meet the objectives of MMFB.
- A Degree in any other related field
- Minimum of 5 years of senior management experience within the financial services industry, including Proven extensive and relevant operations management experience.
- Will be required to obtain a Certificate in Microfinance Banking issued by the Chartered Institute of Bankers of Nigeria (CIBN).
- Relevant professional qualifications, e.g. ACA, ACCA, CISA, CIA.
- Critical understanding in the establishment and operation of internal control mechanisms.
- Excellent problem-solving skills; analytical and structured in his/her thinking.
- Knowledge of data analytics, reporting and financial planning.
- Communication skills – verbal, non-verbal and written.
- Self-starter and very organized, with strong attention to detail.
- Extremely versatile, dedicated to efficient productivity and able to work efficiently and effectively across multiple teams.
- Must be up to date on industry rules, policies and guidelines and ensure compliance.
- A thorough understanding of microfinance performance metrics/indicators and the ability to interpret and process operations data.
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