Head, Audit and Compliance

HEAD, AUDIT & COMPLIANCE

Our Company is a CBN-licensed financial services company focused on providing financial solutions to Micro, Small and Medium Enterprises (MSMEs), individuals and corporate organisations.

The company's core services include loans and credit services, equipment leasing, funds management, financial advisory and intermediation.

1. Role Purpose

The Head, Audit & Compliance will provide leadership for the company's internal audit, regulatory compliance, internal control assurance and risk-based monitoring activities.

The role is responsible for independently evaluating the effectiveness of the company's governance, risk management and internal control systems, while ensuring that applicable regulatory obligations, internal policies and operational procedures are identified, monitored and complied with.

The successful candidate will help safeguard the company's assets, protect its reputation, strengthen regulatory discipline and provide management and the appropriate governance body with independent, objective assessments of the company's control environment.

2. Key Responsibilities

A. Internal Audit and Assurance

• Develop and implement a risk-based annual internal audit plan covering the company's financial, operational, credit, treasury, leasing and administrative activities.
• Conduct independent reviews of business processes, financial transactions, accounting records, operational procedures and internal controls.
• Assess compliance with approved policies, procedures, delegated authority limits and established approval processes.
• Review the adequacy and effectiveness of controls over loan origination, disbursement, repayment, collections and credit portfolio administration.
• Audit equipment leasing transactions, lease documentation, rental collections and related financial records.
• Review treasury operations, cash management, bank reconciliations, payment processes and fund movements.
• Assess the integrity, completeness and accuracy of financial and management reports.
• Identify control weaknesses, operational inefficiencies, irregularities and potential instances of fraud or misconduct.
• Prepare clear audit reports outlining findings, root causes, risk implications and practical recommendations.
• Conduct follow-up reviews to confirm that agreed corrective actions have been implemented.
• Escalate material control failures, suspected fraud and significant risk exposures to the appropriate authority.

B. Regulatory Compliance and Monitoring

• Maintain an up-to-date register of applicable regulatory obligations, statutory requirements, reporting deadlines and internal compliance responsibilities.
• Monitor compliance with the requirements applicable to the company's specific CBN licence and other relevant regulatory frameworks.
• Coordinate regulatory compliance reviews and monitor the timely submission of applicable returns and notifications by responsible departments.
• Track regulatory circulars, directives and changes in applicable laws and assess their implications for the company's operations.
• Advise management and relevant departments on compliance obligations and required process changes.
• Conduct periodic compliance assessments and document identified breaches, exceptions and remedial actions.
• Coordinate regulatory inspections and examinations, including preparation of supporting documentation and tracking responses to findings.
• Maintain a central compliance register covering obligations, responsible owners, deadlines, evidence of compliance and outstanding actions.
• Monitor compliance with relevant data protection, consumer protection, anti-money laundering and counter-terrorist financing requirements, where applicable to the company's activities and regulatory status.
• Promote timely escalation and resolution of compliance breaches.

C. Credit, Lending and Portfolio Controls

• Review the company's credit processes to ensure that lending activities comply with approved credit policies, approval limits and applicable regulatory requirements.
• Test compliance with customer identification, Know Your Customer (KYC), due diligence and credit documentation requirements.
• Review loan approval documentation, disbursement controls, collateral records and evidence of required approvals.
• Assess the integrity of loan balances, interest calculations, fees, repayment records, arrears reporting and related reconciliations.
• Evaluate controls for monitoring overdue accounts, delinquent facilities, impairment assessments and recovery activities.
• Review credit portfolio reports to identify inconsistencies, unusual transactions and potential control failures.
• Confirm that exceptions to approved credit policies are appropriately documented, authorised and monitored.
• Report significant control weaknesses and recommend measures to reduce credit-related operational and compliance risks.

D. Risk Management and Internal Controls

• Evaluate the adequacy of the company's risk management framework and the effectiveness of controls designed to mitigate key risks.
• Identify and assess financial, operational, regulatory, fraud, reputational and information security risks within the scope of the role.
• Review segregation of duties, access controls, transaction approvals and other preventive and detective controls.
• Assess the effectiveness of controls over procurement, expenses, vendor payments, cash handling and company assets.
• Work with management and relevant control functions to strengthen policies, procedures and risk mitigation measures.
• Maintain a register of audit findings, compliance breaches, control deficiencies and agreed remedial actions.
• Analyse recurring findings to identify root causes and recommend sustainable corrective measures.
• Review business continuity and incident management controls, as appropriate to the company's risk profile.
• Provide independent assurance on the adequacy of management's responses to identified risks.

E. Anti-Fraud, AML/CFT and Ethical Conduct

• Assess the effectiveness of relevant anti-fraud controls and procedures for identifying, escalating and investigating suspected irregularities.
• Monitor implementation of applicable anti-money laundering and counter-terrorist financing controls in collaboration with the designated responsible officers and relevant departments.
• Review adherence to applicable customer due diligence, transaction monitoring, record-keeping and suspicious transaction escalation requirements.
• Support investigations into suspected fraud, financial misconduct, policy violations and other irregularities, as authorised.
• Document investigation findings objectively and recommend appropriate remedial or preventive actions.
• Promote ethical conduct, accountability, confidentiality and compliance with the company's code of conduct.
• Ensure that potential conflicts of interest and significant compliance concerns are escalated through appropriate channels.

F. Governance, Policies and Regulatory Engagement

• Review internal policies and procedures periodically to assess their adequacy, consistency and alignment with applicable requirements.
• Advise management on weaknesses in governance arrangements, control ownership and accountability.
• Support preparation of audit and compliance reports for management and the appropriate Board Committee, where established.
• Maintain proper documentation of audit programmes, working papers, findings, compliance reviews and management responses.
• Coordinate with external auditors and regulatory examiners on audit and compliance matters within the role's remit.
• Monitor the closure of regulatory examination findings and external audit recommendations.
• Ensure that audit activities remain objective and that the function does not assume responsibility for operating the controls it independently reviews.

G. Reporting and Management Advisory

• Prepare periodic reports on audit findings, compliance status, risk exposures and unresolved control weaknesses.
• Present significant issues, root causes and recommended corrective actions to management and the appropriate governance body.
• Provide updates on outstanding audit recommendations, overdue compliance actions and repeat findings.
• Analyse patterns in audit results and compliance exceptions to identify emerging risks.
• Advise management on improvements to control design, process efficiency and governance practices without compromising audit independence.

H. Team Leadership and Function Development

• Establish clear work plans, performance objectives and quality standards for the Audit & Compliance function.
• Supervise, coach and develop team members.
• Ensure audit reviews are conducted systematically, supported by sufficient evidence and documented appropriately.
• Build and maintain an annual compliance calendar, audit schedule and monitoring programme.
• Promote continuous improvement in audit methodology, compliance monitoring and reporting.
• Maintain appropriate confidentiality and professional standards across all audit and compliance activities.

3. Key Deliverables and Performance Indicators

Performance will be assessed against agreed targets, including:

• Completion of the approved risk-based audit plan within agreed timelines.
• Timely issuance of audit reports with evidence-based findings and practical recommendations.
• Percentage of audit recommendations implemented within agreed deadlines.
• Reduction in repeat audit findings and recurring control failures.
• Timeliness and completeness of applicable regulatory compliance submissions by responsible departments.
• Timely identification, escalation and remediation of significant compliance breaches.
• Effectiveness of the regulatory obligations register and compliance calendar.
• Coverage of high-risk lending, credit administration, treasury and leasing activities.
• Quality and timeliness of reports to management and the appropriate governance body.
• Effectiveness of follow-up on regulatory examination and external audit findings.
• Quality of audit documentation and adherence to professional standards.
• Demonstrable improvements in the company's internal control and compliance environment.

4. Qualifications and Experience

Educational Qualifications

• Bachelor's degree in Accounting, Finance, Economics, Business Administration or a related discipline.
• Professional qualification such as ICAN, ACCA, CIA, CISA or an equivalent relevant qualification is required.
• Relevant postgraduate qualifications or additional certifications in risk management, compliance, fraud examination or financial services regulation are an advantage.

Experience

• Minimum of 8 years' relevant experience in internal audit, compliance, risk assurance or financial control, including at least 3 years in a supervisory or management position.
• Experience in a regulated financial institution, finance company, microfinance bank, lending institution, leasing company or related financial services environment is strongly preferred.
• Demonstrable experience conducting risk-based audits, evaluating internal controls and preparing formal audit reports.
• Practical knowledge of credit operations, loan administration, treasury processes, financial reporting and regulatory compliance.
• Experience engaging with regulators, external auditors and senior management.
• Experience monitoring regulatory obligations and following up on corrective actions.
• Strong understanding of audit documentation, evidence gathering, issue rating and root-cause analysis.

Pay: ₦650,000.00 - ₦700,000.00 per month

Work Location: In person