Job Description
Description
• The purpose of this role is to direct a comprehensive program of internal audit to ensure that internal control systems are effective and reliable. The role focuses on the integrity of financial, operational, and information technology systems. The Head of Internal Audit is also responsible for developing, updating, and executing the Internal Audit Charter, aligning it with IIA Standards. This position requires a proactive approach to identifying issues, recommending corrective actions, and establishing performance standards for the department.
Responsibilities
• Internal Control & Audit Planning: The role is responsible for the full audit cycle, including risk management and control management over operations' effectiveness, financial reliability, and compliance with all applicable directives and regulations.
• Lending Business Audits: Take the lead in auditing the entire lending lifecycle. This includes reviewing loan origination, credit underwriting, disbursement processes, loan repayments, and loan recoveries.
• Methodology & Controls: Develop testing methodologies to evaluate the adequacy of controls. Identify loopholes and recommend risk aversion and cost-saving measures.
• Third-Party and Regulatory Risk: Minimize third-party risk by assessing business partners and suppliers for risk.
• Daily & Weekly Call overs: Conduct daily and weekly call overs and report findings to management.
• Revenue Assurance: Implement a robust revenue assurance program to ensure all income streams, especially from lending activities, are accurately captured and reported.
• Accounts Review: Review management accounts and the CBN monthly report before they are submitted. Prepare a detailed report on findings.
Requirements
• Bachelor's Degree in Accounting or other discipline from a reputable University; Post graduate degree an added advantage
• Relevant professional qualification such as ICAN/ACCA/CIS/CFA/ACA/ACAMS. Must be CIBN MCP certified.
• 8-10 years’ experience in Risk/Control functions in the Financial Services Industry.
• Experience in a Microfinance bank setting in related role is an added advantage.
• Proven knowledge of auditing standards and procedures, laws, rules and regulations.
• Must have previous experience of reporting to a Board/Board Committee.
• The purpose of this role is to direct a comprehensive program of internal audit to ensure that internal control systems are effective and reliable. The role focuses on the integrity of financial, operational, and information technology systems. The Head of Internal Audit is also responsible for developing, updating, and executing the Internal Audit Charter, aligning it with IIA Standards. This position requires a proactive approach to identifying issues, recommending corrective actions, and establishing performance standards for the department.
Responsibilities
• Internal Control & Audit Planning: The role is responsible for the full audit cycle, including risk management and control management over operations' effectiveness, financial reliability, and compliance with all applicable directives and regulations.
• Lending Business Audits: Take the lead in auditing the entire lending lifecycle. This includes reviewing loan origination, credit underwriting, disbursement processes, loan repayments, and loan recoveries.
• Methodology & Controls: Develop testing methodologies to evaluate the adequacy of controls. Identify loopholes and recommend risk aversion and cost-saving measures.
• Third-Party and Regulatory Risk: Minimize third-party risk by assessing business partners and suppliers for risk.
• Daily & Weekly Call overs: Conduct daily and weekly call overs and report findings to management.
• Revenue Assurance: Implement a robust revenue assurance program to ensure all income streams, especially from lending activities, are accurately captured and reported.
• Accounts Review: Review management accounts and the CBN monthly report before they are submitted. Prepare a detailed report on findings.
Requirements
• Bachelor's Degree in Accounting or other discipline from a reputable University; Post graduate degree an added advantage
• Relevant professional qualification such as ICAN/ACCA/CIS/CFA/ACA/ACAMS. Must be CIBN MCP certified.
• 8-10 years’ experience in Risk/Control functions in the Financial Services Industry.
• Experience in a Microfinance bank setting in related role is an added advantage.
• Proven knowledge of auditing standards and procedures, laws, rules and regulations.
• Must have previous experience of reporting to a Board/Board Committee.
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