Internal Control Manager

Job Purpose:

The Internal Control Manager is responsible for designing, implementing, monitoring, and strengthening the internal control environment across the Group’s microfinance, fintech, and asset management businesses. The role ensures operational efficiency, safeguarding of assets, reliability of financial reporting, regulatory compliance, fraud prevention, and adherence to approved policies and procedures.

The role also supports enterprise risk management initiatives and promotes a strong control culture aligned with frameworks such as the COSO Internal Control Framework and applicable regulations issued by the CBN and SEC.

Key Responsibilities:

1. Internal Control Framework Implementation

• Develop and implement internal control policies, procedures, and control standards across the businesses.
• Establish preventive, detective, and corrective controls for operational, financial, and technology processes.
• Periodically review and update control processes to address emerging risks and regulatory changes.

2. Operational Control Monitoring

• Conduct daily, weekly, and monthly control reviews on operational activities.
• Monitor transactions for unusual, unauthorized, suspicious, or high-risk activities.
• Perform call-over and proofing of transactions, journals, reconciliations, and system postings.
• Ensure proper segregation of duties and maker-checker controls across operations.
• Review dormant account activities, loan disbursements, reversals, waivers, and adjustments.

3. Support Risk Management

• Identify and escalate to risk management team operational, financial, compliance, reputational, and technology risks.
• Evaluate adequacy and effectiveness of internal controls.
• Develop and monitor Key Risk Indicators (KRIs) and control metrics.
• Escalate significant control breaches and emerging risks to management promptly.

4. Regulatory and Policy Compliance

Ensure compliance with:

• CBN regulations and prudential guidelines
• SEC regulations for asset management activities
• Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) requirements
• Internal policies, SOPs, and governance standards
• Monitor statutory and regulatory reporting compliance.
• Coordinate responses to regulatory examinations and internal reviews.

5. Fraud Risk Management (Prevention and Investigation ) and AML Monitoring

• Implement fraud prevention and anti-fraud control measures.
• Investigate suspected fraud, operational losses, policy violations, and unethical conduct.
• Conduct root-cause analysis and recommend corrective actions.
• Maintain fraud incident registers and monitor remediation implementation.
• Support whistleblowing investigations and disciplinary processes.

6. Fintech and Digital Control Oversight

• Monitor controls around digital banking platforms, payment systems, mobile banking, agency banking, and fintech operations.
• Review system access controls, user rights, transaction limits, and cybersecurity-related controls.
• Ensure reconciliation of digital channels and settlement accounts.
• Monitor electronic transaction failures, chargebacks, and dispute resolution processes.

7. Asset Management Control Oversight

• Monitor investment operations, fund administration, and portfolio management controls.
• Ensure compliance with investment mandates and regulatory restrictions.
• Review NAV computation processes and client fund reporting accuracy.
• Verify proper authorization and documentation of investment transactions.

8. Reconciliation and Financial Control

• Review bank reconciliations, suspense accounts, settlement accounts, and intercompany balances.
• Ensure timely resolution of outstanding and unreconciled items.
• Monitor General Ledger proofing processes and financial control activities.
• Ensure integrity and accuracy of financial records.

9. Audit Coordination and Remediation Tracking

• Liaise with Internal Audit, External Auditors, and regulators during audits and examinations.
• Track implementation of audit findings and management action plans.
• Prepare periodic internal control reports for Executive Management and Board Committees.
• Provide recommendations for process improvement and control enhancement.

Requirements:

Qualifications:

• B.Sc degree in Accounting, Finance, Economics, Business Administration, or related discipline
• Professional certifications such as:
• Institute of Chartered Accountants of Nigeria (ICAN)
• Association of Chartered Certified Accountants (ACCA)
• Institute of Internal Auditors (CIA)
• Risk Management Association of Nigeria (added advantage)
• Minimum of 5–10 years relevant experience in internal control and banking operations
• Experience in microfinance, fintech, digital banking, or asset management environment preferred

Soft Skills and Competencies

• Strong knowledge of internal control and risk management principles
• Understanding of banking operations and fintech processes
• Knowledge of AML/CFT regulations and regulatory compliance
• Analytical and investigative skills
• Report writing and presentation skills
• Attention to detail and high ethical standards
• Leadership and team management ability
• Strong communication and stakeholder management skills
• Proficiency in Microsoft Excel, ERP systems, and banking applications

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