ROLE SUMMARY
The Internal Control & Compliance Manager serves as a key senior leadership position tasked with upholding the Microfinance Bank’s adherence to regulatory frameworks, internal policies, and industry best practices. This role involves developing, executing, and overseeing internal control systems to minimize operational, financial, and compliance risks. The ideal candidate will serve as the principal point of contact for regulatory authorities, including the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (FDIC), and other pertinent governing bodies.
Oversee and execute a range of critical duties encompassing strategic planning, operational management, and team leadership to ensure organizational objectives are met. Facilitate cross-functional collaboration to align departmental goals with broader company initiatives while maintaining high standards of efficiency and effectiveness. Develop and implement policies, procedures, and performance metrics to optimize workflow, enhance productivity, and drive continuous improvement across all project phases. Provide mentorship and guidance to team members, fostering a culture of accountability, innovation, and professional development. Monitor industry trends, competitive landscapes, and regulatory changes to proactively identify opportunities and mitigate risks that could impact business success. Additionally, ensure compliance with internal policies, legal requirements, and ethical standards in all business practices.
Ensures adherence to applicable laws, regulations, standards, and internal policies through systematic monitoring, assessment, and reporting of compliance activities. Develops and implements compliance programs, policies, and procedures to mitigate risks and promote ethical business practices. Conducts regular audits and inspections to identify potential gaps or violations, recommending corrective actions as necessary. Collaborates with cross-functional teams to foster a culture of compliance, providing guidance and training to employees on regulatory requirements. Maintains comprehensive documentation and records to demonstrate compliance with regulatory bodies and stakeholders.
Ensure the bank adheres strictly to all CBN microfinance banking guidelines, anti-money laundering (AML) regulations, and FDIC requirements to maintain full compliance.
Monitor financial services regulations for any updates, ensuring internal policies are revised promptly to maintain compliance.
Compile and file all required regulatory submissions—including prudential guidelines, anti-money laundering and counter-terrorist financing reports, as well as monthly and quarterly returns—in a precise and timely manner.
Serve as the primary liaison for regulatory examinations, audits, and inquiries, ensuring clear and timely communication with relevant authorities.
Conducts ongoing assessments of internal controls and risk management frameworks to identify vulnerabilities, evaluate effectiveness, and ensure compliance with regulatory standards. Develops and implements robust policies, procedures, and control activities to mitigate risks, enhance operational efficiency, and safeguard organizational assets. Collaborates with cross-functional teams to integrate risk management practices into business processes, fostering a culture of accountability and continuous improvement. Monitors key risk indicators, tracks control deficiencies, and recommends corrective actions to address gaps and emerging threats.
Design, execute, and regularly evaluate internal control frameworks for lending operations, treasury, deposits, IT systems, and branch operations to ensure compliance, efficiency, and risk mitigation.
Analyze control deficiencies, operational vulnerabilities, and potential fraud risks; propose and monitor appropriate corrective measures to address identified issues.
Perform systematic evaluations of risk exposure in every department, including credit, operations, finance, human resources, and information technology.
Establish and maintain robust segregation of duties alongside comprehensive authorization matrices, ensuring strict enforcement of policies.
Conduct comprehensive audits and oversee continuous monitoring to evaluate performance, ensure compliance with established standards, and mitigate potential risks. Analyze data, identify discrepancies, and document findings to support decision-making and operational improvements. Implement corrective measures as needed and maintain detailed records of audit activities and outcomes. Stay informed about industry regulations and best practices to enhance the effectiveness of monitoring systems and ensure alignment with organizational objectives.
Plan and conduct internal audits across various departments and processes on a recurring schedule to ensure compliance and operational effectiveness.
Perform unannounced cash verifications, examine loan portfolios, and validate transaction accuracy.
Investigate allegations from whistleblowers, suspected instances of fraud, or violations of company policy, compiling comprehensive reports for senior leadership.
Audit findings must be systematically tracked, with corrective actions executed in accordance with mutually agreed-upon deadlines to ensure compliance and resolution efficiency.
We are seeking a dedicated professional to oversee Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) compliance, ensuring adherence to regulatory standards and mitigating financial crime risks. The ideal candidate will have a strong background in financial services, risk management, or a related field, with proficiency in AML frameworks, transaction monitoring, and suspicious activity reporting. Key responsibilities include implementing robust compliance policies, conducting risk assessments, and performing ongoing due diligence on clients and transactions. Additionally, the role requires collaboration with cross-functional teams, regulatory bodies, and law enforcement agencies as needed, along with providing guidance on compliance best practices. Strong analytical skills, attention to detail, and the ability to interpret evolving regulatory requirements are essential for success in this position.
Implement and oversee the bank’s Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) program, ensuring compliance with regulatory standards through robust customer due diligence (CDD), enhanced due diligence (EDD), and timely suspicious transaction reporting (STR).
Ensure strict adherence to Know-Your-Customer (KYC) protocols across all customer interaction points to maintain regulatory compliance and mitigate risks.
Maintain a comprehensive registry of politically exposed persons (Peps) and sanctioned entities, ensuring accuracy and up-to-date information at all times.
Conduct training sessions to educate employees on anti-money laundering (AML) regulations, fraud detection, and ethical standards of behavior.
Responsibilities include maintaining accurate records, compiling reports, and ensuring all documentation meets regulatory standards and organizational protocols. This role requires meticulous attention to detail, strong organizational skills, and the ability to manage multiple tasks efficiently. Proficiency in data entry, report generation, and file maintenance is essential, along with familiarity with relevant software tools. The incumbent will collaborate with cross-functional teams to verify information accuracy and support decision-making processes through timely and precise documentation.
Draft quarterly compliance reports to be presented to the Board Audit & Risk Committee.
Maintain comprehensive documentation of internal control procedures, risk registers, and exception reports.
Maintain a current and organized repository of all regulatory correspondence and filings.
We offer comprehensive training and advisory services designed to equip teams with essential skills and strategic insights for optimal performance. Our programs are tailored to address specific organizational needs, ensuring participants gain practical knowledge and actionable guidance. Expert consultants deliver these services, combining industry expertise with a hands-on approach to foster sustainable growth and efficiency. Ideal candidates for these roles possess strong communication abilities, analytical thinking, and a commitment to continuous learning.
To educate department heads and staff members regarding compliance obligations, internal control protocols, and strategies for fraud prevention.
Offer strategic guidance to senior leadership regarding the regulatory and compliance considerations associated with introducing new products, forming partnerships, or pursuing expansion initiatives.
Seeking a candidate with a minimum of five years of relevant professional experience, along with a bachelor’s degree in a related field. Proficiency in industry-standard software and tools is required, along with strong analytical and problem-solving abilities. Excellent communication and teamwork skills are essential for collaborating across departments. Prior experience in project management or leadership roles is preferred. Knowledge of current industry trends and best practices is a must. The ability to work independently and manage multiple priorities is critical to success in this role.
Candidates must hold a Bachelor’s degree or higher in a relevant field, such as Education, Curriculum Development, or a specialized discipline aligned with the position. A valid teaching certification or equivalent professional credential may be required, depending on the role’s jurisdiction. Prior experience in instructional design, classroom instruction, or educational administration is often essential, with a minimum of two to three years in a related capacity preferred. Familiarity with curriculum frameworks, assessment methodologies, and educational technology platforms is highly desirable. Strong written and verbal communication skills are necessary to collaborate with stakeholders, develop training materials, and present findings effectively.
A bachelor’s degree in Accounting, Finance, Banking & Finance, Economics, or Law is required for this position.
A master’s degree, such as an MBA, M.Sc. in Finance, or an equivalent qualification, would be considered beneficial.
Holds professional certifications that validate specialized skills and expertise in relevant domains, ensuring adherence to industry standards and best practices. Demonstrates ongoing commitment to professional development through continuous learning and credential maintenance. Enhances credibility and proficiency, equipping the individual to meet evolving job demands and organizational objectives effectively.
Certified Internal Auditor (CIA) certification is required. A minimum of two years of relevant experience in internal auditing, risk management, or compliance is necessary. Proficiency in audit standards, methodologies, and regulatory frameworks is essential. Strong analytical and problem-solving skills, along with meticulous attention to detail, are critical. Excellent communication and report-writing abilities are also required to convey findings effectively. The ability to work independently and collaboratively in a team environment is expected. Familiarity with data analysis tools and audit software is a plus.
Seeking a Certified Fraud Examiner (CFE) with a strong background in detecting and preventing fraudulent activities. The ideal candidate will possess expertise in investigating financial discrepancies, analyzing complex data sets, and implementing robust control measures to mitigate risks. Responsibilities include conducting thorough forensic audits, assessing internal controls for vulnerabilities, and providing strategic recommendations to enhance organizational integrity. Proficiency in fraud detection software, advanced analytical tools, and regulatory compliance frameworks is essential. Strong communication skills are required to effectively report findings and collaborate with stakeholders across various departments.
Seeking a qualified Associate or Chartered Accountant, holding credentials such as ACA, ARCA, or CIA, to join our team.
A Certified Compliance Professional credential, such as the CAMS (Certified Anti-Money Laundering Specialist) designation, is highly desirable.
We seek candidates with substantial professional experience in a relevant field. A minimum of [X] years of hands-on experience in [specific industry/job function] is required. Previous roles should demonstrate a proven ability to [key skill/task], as well as experience with [relevant tool/software]. Familiarity with [specific process/methodology] is highly preferred. Candidates must exhibit strong problem-solving skills and the capacity to work both independently and collaboratively within a team.
A minimum of eight years of progressively responsible experience in internal control, audit, compliance, or risk management within a microfinance bank, commercial bank, or another CBN-regulated financial institution is required.
A minimum of three years of experience in a supervisory or managerial capacity is required.
Professional rewrite:
Proven track record in compiling and filing regulatory returns for the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (FDIC).
Demonstrated expertise in executing internal audits, uncovering fraudulent activities, and establishing robust control frameworks.
Proficient in a comprehensive array of technical tools and methodologies, the ideal candidate must possess expertise in [list specific software, programming languages, or systems required]. Additionally, a strong command of [mention relevant technical concepts or frameworks] is essential for effectively executing job duties. Experience with [highlight any specialized equipment or platforms] is highly desirable, as is the ability to troubleshoot and resolve complex technical challenges. Familiarity with [include any industry standards or compliance requirements] will be advantageous in ensuring seamless project execution and adherence to best practices.
Proficient knowledge of CBN Microfinance Banking Guidelines, the AML/CFT Act 2011 (including amendments), the FDIC Act, and the Banks and Other Financial Institutions Act (SOFIA) is essential.
Demonstrates strong competency in essential banking software systems and the Microsoft Office Suite, including Excel, Word, and PowerPoint.
Proficiency in data analytics tools is beneficial for conducting audit testing.
Proficiency in International Financial Reporting Standards (IFRS) as they pertain to financial institutions is essential.
Qualifications
BA/BSc/HND , MBA/MSc/MA , Professional Certificate
Experience Required
8 years
