Internal Control/Compliance Officer at Everdon Bureau de Change

Everdon Bureau de Change is a wholly owned subsidiary of VFD Group Limited, a financial services group headquartered in Lagos, Nigeria. The Company is a Dun and Bradstreet certified Foreign Exchange company headquartered in Lagos, Nigeria. Through us, businesses and individuals can place orders and broker foreign currency transactions more conveniently than ever before. We trade in major global currencies, including the US dollar, UK pound sterling and the Euro.

We are recruiting to fill the position below:

Job Title: Internal Control/Compliance Officer

Location: Lagos
Employment Type: Full Time
Grade Alignment: Associate to Senior Associate

Job Summary

Formulate and execute company control processes, and complete daily, weekly, and monthly accounts reconciliations by identifying and reconciling differences, escalating issues, and communicating results to management and colleagues.

Key Task:

Budget & Budgetary control
Accounts reconciliation
Regulatory compliance reporting
Revenue and cost assurance
Internal audit
Asset and liability management
Special investigations and daily call-oversEnsure proper internal audit and control system.

Responsibilities
Budget & Budget control:

Monitor annual budget figures
Provide a monthly variance and budget gap report
Ensure expenses are always within budget except with exceptional approval

Accounts reconciliation:

Ensures that cash amounts in the company’s ledgers agree with bank balances
Ensures guidelines and policies around cash processes are adequate & effective
Ensure daily call-over
Monthly bank reconciliation of all accounts

Regulatory compliance reporting:

Ensure zero regulatory infraction in areas relating to financial reporting
Review fillings to regulators
Ensure remittance of all government taxes

Revenue and cost assurance:

Develop an integrated cycle to ensure prevention, detection, analysis and Response
Ensure avoidable losses and cost exposure
Ensure no opportunist fraud window
Ensure no areas of income leakages

Internal Audit:

Develop proper internal audit and control system
Define control measure for all key activities and ensure compliance
Prepare audit reports
Advise units on departure from policies, procedures and other exceptions

Asset and Liability management:

Develop an ALM system
Develop ALM policies and procedures
Suggest strategic guidance where necessary

Special investigations and daily call overs:

Review all payment vouchers to both internal and external parties
Perform investigations into suspected fraudulent/ sharp practices
Provide appropriate line of action and recommendation for investigated fraudulent activities

Others:

Prepare/compile agreed periodic activity report for the MD/CEO
Other adhoc assignment as assigned

Key Performance Indicators:

Summary KPI
Non-Financial/Internal
Budget and Budget Control
Budget variance analysis 5th working day of the month

Regulatory Compliance Reporting:

Ensure zero regulatory infraction in areas relating to financial reporting
Accurate review of fillings to regulators
Timely remittance of all government taxes

Revenue and cost assurance:

Development of an integrated cycle to ensure prevention, detection, analysis and response
Cost savings on avoidable losses and cost exposure
Decrease and detection of income leakages
Number of suggested strategy

Internal Audit:

Development of internal audit and control system
Increase of compliance of all key activities
Prepare audit reports
Decrease in exceptions by the units
Number of identified exceptions

Asset and Liability management:

Development and implementation of an ALM system
Development of all necessary ALM policies and procedures
Number of suggested strategic guidance

Special investigations and daily call overs:

Timely review of all payment vouchers to both internal and external parties
Number of investigated fraudulent and sharp practices
Reduced number of fraud cases

Others:

Integrity and Accuracy of Accounting Records:
- Account reconciliations- Daily
- WACC- Daily
- FD position analysis- Weekly
Account reconciliation- Daily, weekly and Monthly
Control and Monitoring- Daily
Adhoc task- Continuous
Regulatory Compliance- Fillings 24hrs before specified deadline.
Savings on income leakages
Timely and discreet execution of investigations
Number of timely conducted audits
Reduced fraud cases
Comprehensive, clear, and constructive audit and fraud reports
Reduced number of mitigated risk
Minimum exceptions found by external auditors.

Specification/Qualifications
Qualifications:

First degree or its equivalent in a Numerate discipline (Accounting, Economics, Finance, etc), MBA or Master’s degree will be an added advantage.
Minimum Experience
Minimum of 6 years’ cumulative work experience in a similar role
Professional Membership: ICAN, ACCA

Core Skills:

Knowledge of corporate governance practices
Ability to analyze data
Ability to read large volumes of documents effectively and extract necessary information
In-depth understanding of the organization’s business issues
Communication & Presentation
Good report writing skills
Proficient at Excel, MS Word and Power point
Developed ability to produce reports and presentations to a professional standard
Excellent written and oral communication skills
Very good proof-reading skills.

Generic Skills: