Unit Head – Internal Control & Internal Audit

Industry: Pension Fund Administration (PFA) / Financial Services
Location: Victoria Island, Lagos
Employment Type: Full-Time
Experience Level: Minimum 10 Years
Reports To: Managing Director / Chief Executive Officer / Board Audit & Risk Committee
Job Summary
We are seeking an experienced and highly competent Unit Head of Internal Control & Internal Audit to lead the organization's audit, risk management, and internal control functions within a regulated pension environment.
The ideal candidate will be responsible for providing independent assurance on the effectiveness of internal controls, governance processes, risk management systems, and regulatory compliance in line with PenCom guidelines, Nigerian financial regulations, and international auditing standards (IIA Standards).
The role requires a strategic leader with strong technical audit expertise, deep understanding of pension industry operations, and proven ability to engage senior stakeholders, regulators, and board-level committees.
Key Responsibilities
Internal Audit Leadership

• Lead the development and execution of a risk-based annual internal audit plan covering all business units and operational processes.
• Oversee end-to-end audit cycles including planning, fieldwork, testing, reporting, and follow-up on corrective actions.
• Ensure audits are conducted in compliance with Institute of Internal Auditors (IIA) Standards and global best practices.
  

Internal Control & Risk Management

• Design, implement, and continuously improve the organization's internal control framework in line with COSO principles.
• Evaluate adequacy and effectiveness of controls across finance, operations, investments, contributions, benefits administration, and IT systems.
• Identify control weaknesses, fraud risks, and operational inefficiencies, and recommend corrective actions.
  

Regulatory Compliance (Pension Industry Focus)

• Ensure full compliance with PenCom regulations, Nigerian Pension Reform Act, and other applicable statutory requirements.
• Monitor adherence to internal policies, regulatory guidelines, and corporate governance standards.
• Liaise with external auditors, regulators, and examiners during reviews and inspections.
  

Fraud Prevention & Investigations

• Lead fraud risk assessments and special investigations across the organization.
• Establish whistleblowing and fraud detection mechanisms in collaboration with HR and Compliance teams.
• Report investigative findings to senior management and the Board Audit Committee.
  

Reporting & Governance

• Prepare and present detailed audit reports, risk assessments, and control evaluation reports to Executive Management and Board Committees.
• Track and report implementation status of audit recommendations.
• Provide periodic assurance reports on internal control effectiveness.
  

Team Leadership & Capacity Development

• Supervise and develop internal audit and control staff, ensuring high professional standards.
• Conduct performance evaluations, coaching, and technical training for audit teams.
• Promote a strong ethics, compliance, and control culture across the organization.
  

Stakeholder Management

• Engage with senior management across departments to ensure audit recommendations are understood and implemented.
• Advise leadership on risk mitigation strategies and operational improvements.
• Serve as a key advisor to the Board Audit & Risk Committee.
  

Required Qualifications

• Bachelor's degree in Accounting, Finance, Economics, Business Administration, or related field.
• Professional certification is mandatory: ICAN, ACCA, or CIA (Certified Internal Auditor).
• Minimum of 10 years relevant experience in internal audit, internal control, or risk management.
• At least 4–5 years in a senior leadership or managerial audit role.
• Strong experience within pension fund administration, banking, insurance, or other regulated financial services.
  

Technical Competencies

• Strong knowledge of IIA Standards and COSO Framework
• Deep understanding of PenCom regulations and Nigerian financial reporting standards
• Risk-based auditing methodology
• Fraud risk assessment and forensic investigation
• Strong financial analysis and reporting skills
• Knowledge of ERP systems (e.g., SAP, Oracle, or similar)
• Advanced Microsoft Excel and data analytics skills
  

Key Skills & Attributes

• Strong leadership and people management skills
• High integrity, ethical judgment, and professional scepticism
• Excellent analytical and problem-solving abilities
• Strong report writing and presentation skills
• Ability to engage and influence Board-level stakeholders
• Attention to detail and strong organizational ability
• Ability to work independently in a regulated environment
  

Key Performance Indicators (KPIs)

• Effectiveness of internal control environment
• Timeliness and quality of audit reports
• Percentage implementation of audit recommendations
• Reduction in operational risks and control failures
• Regulatory compliance status (PenCom & statutory requirements)
• Fraud detection and prevention outcomes
  

How To Apply
Interested and qualified candidates should send their CV to:
hiring@mysigma.io
Subject Line: Unit Head – Internal Control & Internal Audit – Victoria Island
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