Head, Internal Control at Mutual Microfinance Bank Limited
Mutual Benefits Assurance Plc.
Lagos, Lagos, Nigeria
4d ago
Job Description

  • Design, revise or update appropriate internal control, audit & compliance strategy and framework for the bank.
  • Ensure proper documentation, recording and tagging of the company’s fixed assets.
  • Liaise with external auditors
  • Makes financial control-related recommendations on specific major projects or plans.
  • Ensure that credit facilities to any customers or group of customers are in line with the regulatory guidelines; clearly defined internal policies and debt service capability.
  • Monitoring of conditions subsequent to draw down for timely detection of documentation deficiencies.
  • Ensure that all credits have been approved in accordance with the credit policy.
  • Ensure that all pre-disbursement conditions have been met.
  • Ensure that all collateral documents are properly kept and perfection carried out.
  • Review approved credit for quality, performance and compliance with approved terms & condition in the credit policy. Ensure all credit are approved in accordance with the credit policy and any regulatory guidelines. prompt escalation of any deficiencies noted
  • Carry out spot checks on loan customers to verify due diligence done prior to draw down
  • Identify all non performing accounts and pursue workout strategies in collaboration with loan officers
  • Ensure that limits are monitored.
  • Ensure that income, fees, maturing repayment & other charges are captured.
  • Detection and escalation of un-authorized credit.
  • Implementation of policy driven credit related sanctions.
  • Preparation of exception report as required.
  • Custody and maintenance of credit files.
  • Ensure that a review of the portfolio is carried out on a quarterly basis
  • Ensure that appropriate recommendations are implemented such that the desired level of credit quality and performance are attained and sustained.
  • Take necessary measure to ensure adequate quality assurance in operation i.e. call over. General ledger proofing/ reconciliation, integrity test, departmental control etc.
  • Ensure proper verification of expenses before processing and disbursement of funds.
  • Track bank deposits and payments
  • Ensure compliance on report rendition to regulatory bodies.
  • Ensure compliance to the bank rules, policies, and regulations.
  • Review of the statutory returns to regulatory authorities and government agencies to ensure accuracy and timely rendition.
  • Customers’ visitation for random deposit verification.
  • Review the accuracy and reliability of financial transaction records – cash deposits, cash withdrawals, treasury bills investments, fixed deposits, and funds transfer.
  • Involve in the thorough review of the bank’s accounting software, applications, digital platform and authorizations or permissions for efficiency.
  • Reviewed customers’ account opening documents for compliance with Know Your Customer (“KYC”) policy and anti-money laundering requirements.
  • Ensure compliance with the bank’s policies and conduct daily, weekly and monthly General Ledger (GL) review for reconciliation.
  • Conduct sweep exercise and spot check on tellers and account officers.
  • Schedules and plans audits; initiates project planning, assess risk and develops audit direction.
  • Performs preliminary planning and establishes direction for audits, provides leadership to assigned auditors, manage project to quality outcomes, while meeting established time budget.
  • Carry out spot checks on operational activities at branch, area and regional levels and take action on infractions or non-compliance issues.
  • Conduct periodic checks on payroll.
  • Ensure that prompt investigation of frauds, forgeries, breach of policies and procedures and serious customer complaints are conducted and ensure necessary action is taken on the outcome.
  • Make recommendation for policy amendments based on emerging issues in audit and internal control.
  • Takes responsibility for the training, coaching and mentoring of subordinates
  • Perform other duties and responsibilities, as may be assigned by the Managing Director or by the Board.

Qualifications

  • A good Bachelor's Degree/HND in Accountancy, plus Relevant professional qualification such as ICAN, CIBN, etc. MBA or M.Sc. will be added advantage.
  • Minimum of 7 - 10 years relevant experience in a reputable firm preferably in the Financial Services Industry, Experience in a microfinance bank setting in related role is an added advantage.
  • Experience in reporting to a Board/Board Committee.


Additional Information

Skills & Knowledge:

  • Proficiency in Microsoft Excel and other Microsoft office programmes
  • Knowledge of relevant accounting packages
  • Knowledge of best practices in internal control and audit
  • Knowledge of existing regulatory framework
  • Excellent reporting skills
  • Strategic thinking
  • Managerial and leadership skills
  • Firmness
  • Good oral and written communication skills
  • Integrity
  • Flair for details
  • Team building skills
  • Skill in examining and re-engineering operations and procedures, formulating policy, and developing and implementing new strategies and procedures.
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