Senior Internal Control Officer

Job Description

Senior Internal Control Officer (Banking Operations & Fintech)

Job Summary

The Senior Internal Control Officer is responsible for ensuring strong internal control systems across all financial, operational, and technology processes of the organization. The role ensures full compliance with regulatory requirements (CBN, SEC, NDIC, FIRS, AML/CFT), internal policies, and industry standards. The officer conducts control assessments, monitors high-risk transactions, prevents financial losses, and ensures the organization maintains a robust governance structure.

Key Responsibilities

Regulatory Compliance & Governance

• Ensure the organization complies with regulations issued by CBN, SEC, FIRS, NDIC, FIU, and other relevant financial regulators.
• Assist in implementing AML/CFT internal controls, transaction monitoring, and escalation procedures.
• Conduct regular compliance checks on finance, treasury, settlement, and operational processes.
• Validate that financial and operational activities follow approved policies, SOPs, governance frameworks, and industry standards.

Internal Control System Management

• Design, implement, and strengthen internal control procedures across all business units.
• Conduct periodic control reviews to assess the effectiveness of controls around payments, collections, reconciliations, lending/credit operations, KYC/onboarding, and financial reporting.
• Perform end-to-end reviews of transaction cycles (Treasury, AP/AR, Procurement, Operations, Loan Disbursement, Collections, etc.).
• Identify control gaps and recommend improvements to mitigate financial, operational, and compliance risks.

Risk Identification & Mitigation

• Identify and document key risk areas across financial operations and system processes.
• Work with department heads to design corrective actions and remediation plans.
• Monitor adherence to control recommendations and track implementation status.
• Proactively detect process vulnerabilities that could cause fraud, financial losses, or regulatory sanctions.

Audit Support & Continuous Monitoring

• Support internal, external, and regulatory audits (CBN examiners, SEC inspectors, FIU reviews, etc.).
• Ensure availability and accuracy of required audit documentation.
• Conduct transaction testing, spot checks, and surprise audits on high-risk processes.
• Follow up on open audit issues until closure and maintain an updated remediation tracker.

Financial Controls & Reporting

• Review financial transactions, approvals, vouchers, and reconciliations to ensure accuracy and compliance.
• Monitor GL accounts, suspense accounts, exception items, and variance analysis.
• Ensure segregation of duties across financial processes and access rights.
• Produce periodic reports on control effectiveness, risk exposure, exceptions, and breaches for senior management.

Operational & Technology Controls

• Review system access controls, user provisioning, privilege management, and IT-related risks.
• Work with IT and Operations to ensure proper controls around data protection, cybersecurity, and system integrity.
• Support process automation and digital transformation by embedding controls into digital workflows.

Requirements

Education & Experience

• Bachelor's degree in Accounting, Finance, Economics, Business Administration, or related field.
• Professional qualifications such as ICAN, ACCA, CIA, CISA, or CRMA are an added advantage.
• 6 years of experience in internal control, audit, risk management, or compliance roles.

Skills & Competencies

• Strong understanding of internal control frameworks (COSO, ISO standards, etc.).
• Knowledge of financial reporting, accounting processes, and risk management principles.
• Excellent analytical, investigative, and problem-solving skills.
• High attention to detail and strong ethical standards.
• Proficiency in Excel and reporting tools; familiarity with audit/ERP systems is a plus.
• Strong communication and interpersonal skills.

Key Attributes

• Integrity and professionalism.
• Objectivity and critical thinking.
• Ability to work independently and under pressure.
• Strong organization and documentation skills.
• Discretion in handling confidential information.

Performance Indicators (KPIs)

• Timely completion of control assessments and audits.
• Reduction in control breaches or repeat audit findings.
• Quality of documentation and reporting.
• Compliance rate of departments with internal controls.
• Effectiveness of remediation and control improvements.