Senior Internal Audit and Control Manager

Assets Microfinance Bank

Accounting, Auditing & Finance

Job Summary:

The Senior Internal Audit and Control Manager is responsible for leading the internal audit, compliance, and internal control functions of the microfinance bank. This role ensures strict adherence to regulatory guidelines, internal policies, and industry best practices, while fostering a culture of risk awareness, operational efficiency, compliance, and financial integrity across the institution.

Key Responsibilities:

• Develop and execute a comprehensive risk-based internal audit plan for the bank, covering operational, financial, credit, and IT processes.
• Regularly assess the adequacy and effectiveness of the bank’s internal controls, risk management framework, and governance processes.
• Lead audit missions and investigations across departments to detect control weaknesses, policy violations, and financial irregularities.
• Ensure compliance with all applicable regulatory requirements from the CBN, NDIC, and other relevant authorities governing microfinance operations.
• Conduct periodic compliance reviews to verify that the bank’s operations are aligned with internal policies, procedures, and external legal/regulatory obligations.
• Evaluate the bank’s anti-money laundering (AML), combating the financing of terrorism (CFT), and Know Your Customer (KYC) frameworks for adequacy and effectiveness.
• Monitor adherence to credit administration policies, lending protocols, disbursement processes, and recovery practices to mitigate credit risk exposure.
• Recommend corrective actions and improvements for control deficiencies and follow up on the implementation status of audit recommendations.
• Develop internal control tools and procedures, including checklists, manuals, and control self-assessments, to ensure standardized operations bank-wide.
• Provide assurance on the reliability and integrity of financial and operational information submitted by departments.
• Prepare and present timely internal audit reports, risk assessments, and compliance updates to executive management and the Board Audit Committee.
• Promote a culture of compliance, transparency, accountability, and ethical behavior across all levels of the organization.
• Continuously review internal audit policies and methodologies to align with changes in the regulatory environment, operational realities, and best practices.
• Champion the bank’s whistleblowing process and investigate allegations of fraud, financial misconduct, or policy violations.
• Track evolving regulatory developments in the microfinance and banking sectors and communicate their implications to relevant stakeholders.
Ensure zero tolerance for control breaches, policy violations, and irregularities by instituting early detection and monitoring systems.

Requirements

• A minimum of a Bachelor’s degree in Accounting, Finance, Economics, Business Administration, or a related field
• Professional certifications such as ACA, ACCA, CPA, CISA, or CIA are mandatory
• At least 7–10 years of progressive experience in internal audit, compliance, or internal control within the financial services sector at a supervisory role
• Proven experience in microfinance banking operations, regulatory compliance, and risk management practices
• Strong understanding of CBN regulations, NDIC guidelines, AML/CFT laws, and other applicable banking regulations in Nigeria
Hands-on experience conducting risk-based audits and control assessments across various operational and financial functions

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