Internal Control and Compliance Officer at Fedeth Microfinance Bank

Fedeth microfinance economically empower micro-entrepreneurs and low-income earners by providing financial services.

We are recruiting to fill the position below:

Job Title: Internal Control and Compliance Officer

Location: Abuja (FCT)
Employment Type: Full-time

Job Summary

To review all internal processes, systems and policies and make recommendations to ensure the risk to the business is minimised with a view to delivering improvements by advising, coaching and facilitating in order to not undermine the responsibility of management.

Main Duties & Responsibilities

To plan, organize and carry out the internal controls function including the preparation of an audit manual and audit plan.
Conduct risk assessment of all departments
Reports risk management issues and internal controls deficiencies identified directly to the CFO and Company Board and provides recommendations for improving the organisation’s operations.
Evaluate compliance with existing Fedeth policies and procedures, identifying and proposing modifications as needed.
Identify areas of strengths and weaknesses and engage in continuous education and staff development re best practices
Review the responses to internal and external audit management letter queries to ensure that recommendations are implemented and ensure that all action items are resolved
Issuance of cheque books and stamps to branches and Head Office departments
Review of credit bookings and system limit for approvals, documentation and perfection
Review of risk asset reports for unauthorised credits disbursements and set up rates
Review of the cheques-in-clearing process for irregularities
Monitor month end and customer’s statement distribution for prompt and efficient delivery service
Review of contingent asset and liability instruments for proper approvals and documentation in compliance with the organisation’s credit policy
Review of credits in general for performance and recovery efforts on problem loans
Review customer complaint register and suggestion boxes
Review all sensitive accounts as determined by the Head Internal Control and Operational Risk to ensure that they are operated in line with the approved policy of Fedeth
Evaluate regulatory compliance program
Formulate policies and procedures to improve internal controls, compliance and efficiency
Lead the process for internal controls reviews across the group
Deliver adequate and timely reporting on the internal control framework and control
Deficiencies to ensure appropriate communication, documentation, escalation to business partners, senior leadership and audit committee
Deliver adequate and timely action plans and monitor progress to address and resolve control deficiencies
Work collaboratively with business and process owners to implement and monitor remediation efforts that result from internal control assessments, ensuring the effective implementation of corrective action.
Actively seek standardization and automation, apply and implement best practices for managing internal controls and deploy innovative technology where possible to enhance and continuously improve the design and operating effectiveness of the controls, documentation, provides support to the company’s anti-fraud programs.
All other duties as reasonably requested