Head, Internal Audit

COMPANY: MICROFINANCE BANK (LAGOS)

JOB VACANCY: HEAD, INTERNAL AUDIT

 

Position: Head, Internal Audit

Reports to: Board Audit Committee functionally; Managing Director administratively

Location: Lagos, Nigeria

Employment Type: Full-Time

Application Deadline: 31 October 2026

About the Bank

This is a microfinance bank licensed by the Central Bank of Nigeria (CBN), committed to expanding access to inclusive financial services for micro, small and medium enterprises (MSMEs) and low-income households. The Bank is entering a new phase of growth, with a strategy built on technology-enabled financial inclusion, disciplined credit and strong governance. As part of this strategy, the Board seeks to appoint a seasoned and highly qualified Head of Internal Audit

Role Summary

The Head, Internal Audit will provide independent, risk-based assurance and constructive advice to the Board Audit Committee and management on governance, risk management and control effectiveness. Evaluate whether significant exposures are understood, records are reliable and corrective actions work in practice. Maintain objectivity, professional scepticism and unrestricted access within the audit charter, without owning the operational processes being audited.

Key Responsibilities ·       Audit mandate and independence - Maintain a charter, access arrangements and a clear route to the Audit Committee. Declare conflicts and any limits on scope, information or resources. Confirm independence at least annually and agree safeguards for any proposed non-audit responsibilities. ·       Risk assessment and planning - Maintain an audit universe covering lending, deposits, cash, accounting, compliance, people, technology and outsourced services. Assess inherent risks and control changes, propose a prioritised plan and budget, and present material amendments for Committee approval. ·       Engagement execution - Define objectives, scope, criteria and testing approaches for each engagement. Examine records, interview staff, sample transactions and assess control design and operation. Document evidence so conclusions can be reviewed and reproduced; obtain specialist support where competence is insufficient. ·       Findings and Reporting - Distinguish facts, root causes, risk implications and recommended actions. Discuss evidence with management without surrendering judgement. Issue clear reports with accountable action owners and dates, and promptly alert the Committee to material concerns or obstruction. ·       Follow-up and risk acceptance - Track agreed actions and verify implementation through evidence and proportionate retesting. Do not close findings solely on management assertion. Escalate unacceptable unresolved risk through the charter; management, not Internal Audit, owns remediation and authorised risk acceptance. ·       Fraud and special reviews - Evaluate fraud-risk controls and undertake specific reviews when authorised and appropriately skilled. Preserve evidence and confidentiality, coordinate with approved specialists and avoid prejudging allegations. Keep investigation scope and reporting independent of anyone implicated. ·       Quality and professional development - Maintain a practical quality programme, engagement supervision and a skills-development plan. Arrange independent quality assessment as required by applicable professional standards and the approved charter. Apply relevant audit requirements in force when planning each engagement. ·       Stakeholder and assurance coordination - Maintain direct dialogue with the Committee and constructive working relationships with management, external auditors and authorised supervisors. Coordinate coverage to reduce unnecessary duplication while retaining responsibility for Internal Audit’s own evidence and conclusions. Mandatory Regulatory Requirements

·       A recognised degree or higher diploma in accounting, finance, audit, risk, information systems or a related discipline, or equivalent professional competence

·       Minimum of five years in internal/external audit or assurance, including at least two years leading engagements.

·       Meaningful experience auditing financial institutions or comparable credit, cash and technology risks is required.

·       Demonstrated risk-based planning, control evaluation, sampling, evidence assessment, report writing and follow-up.

·       Able to analyse ledgers, credit files, deposits, reconciliations and access logs.

·       Working proficiency in spreadsheets and data analysis

Desired Attributes

•      Able to challenge management constructively and distinguish management controls, compliance monitoring and independent assurance.

•      Certified Internal Auditor or another recognised audit/accounting qualification

•      Information-systems audit or fraud-review training

•      Experience in reporting to an audit committee

•      Competence in data-assisted audit techniques.

Terms of Appointment

•      The appointment is shall be subject to a probationary period of six (6) months commencing from your effective date of employment

•      Remuneration is competitive and commensurate with experience, in line with the Bank's approved remuneration policy.

How to Apply

Interested and qualified candidates should submit the following documents by email to the email address given, with the subject line “Application – Head, Internal Audit

•      A detailed curriculum vitae.

•      Copies of academic and professional credentials, including microfinance certification.

•      A cover letter stating suitability for the role.

Applications close on 31 October 2026. Only shortlisted candidates will be contacted. All applications will be treated in strict confidence.

This Microfinance Bank is an equal opportunity employer.