Head, Internal Control & Compliance

COMPANY: MICROFINANCE BANK (LAGOS)

JOB VACANCY: HEAD, INTERNAL CONTROL AND COMPLIANCE

 

Position: Head, Internal Control & Compliance

Reports to: The Managing Director

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, Internal Control and Compliance who will be responsible for strengthening the Bank's internal control environment, ensuring adherence to approved policies and procedures, and maintaining compliance with applicable regulatory and statutory requirements. Role Summary

Lead the Bank's internal control and compliance functions, providing effective oversight to ensure that operations, transactions and business activities are conducted within approved policies, procedures, regulatory requirements and established control standards.

The successful candidate will identify control weaknesses, monitor compliance, investigate exceptions, recommend corrective actions and provide timely reporting to Management. The role will also support the development of a strong culture of accountability, compliance and risk consciousness across the Bank.

Key Responsibilities ·       Internal Control Framework - Develop, implement and continuously strengthen the Bank's internal control framework, ensuring that appropriate preventive, detective and corrective controls are established across business and operational processes. ·       Control Monitoring and Testing - Conduct regular reviews and testing of key controls across branches, departments, products and processes. Identify control gaps, document findings and track corrective actions to completion. ·       Compliance Monitoring - Monitor compliance with applicable CBN regulations, statutory requirements, internal policies, procedures and approved limits. Escalate identified breaches and ensure appropriate remediation. ·       Transaction and Process Review - Review transactions, processes and supporting documentation to ensure that activities are properly authorised, adequately documented and processed in accordance with approved procedures. ·       Exception Management - Monitor control exceptions, policy deviations, unusual transactions and unresolved operational issues. Ensure that exceptions are properly documented, investigated, escalated and closed within defined timelines. ·       Fraud Prevention and Detection - Support the development and implementation of appropriate controls for preventing, detecting and responding to fraud, errors, irregularities and other control breaches. Escalate suspected fraudulent activities in accordance with approved procedures. ·       Branch and Operational Controls - Conduct periodic control reviews of branches and operational units, including cash handling, documentation, reconciliations, access controls, customer records, inventory or physical assets and other relevant control areas. ·       Policies and Procedures - Review existing policies and procedures periodically to identify gaps, inconsistencies or outdated provisions. Recommend improvements and support the implementation of approved changes. ·       Compliance Reporting - Prepare regular internal control and compliance reports for Management and relevant Board committees, highlighting control deficiencies, regulatory breaches, outstanding remediation actions, emerging issues and recommendations. ·       Regulatory and Audit Readiness - Coordinate the Bank's preparedness for regulatory examinations, external audits and other supervisory reviews. Ensure that requested documents, records and evidence are complete, accurate and readily available. ·       Remediation and Follow-up - Maintain a central register of control, compliance and audit findings. Follow up with responsible officers to ensure that agreed corrective actions are implemented within approved timelines. ·       Staff Awareness and Training - Promote awareness of internal controls, compliance obligations, ethical conduct and regulatory requirements across the Bank. Organise or coordinate relevant staff training and sensitisation programmes. ·       Governance Support - Support Management and relevant Board committees with accurate and timely information on the Bank's control and compliance environment. Escalate material or recurring weaknesses that may expose the Bank to financial, regulatory or reputational risk. ·       Process Improvement - Work with Operations, Risk, Credit, Finance, IT and other relevant functions to strengthen processes and eliminate recurring control weaknesses while maintaining appropriate segregation of duties.     Mandatory Regulatory Requirements

·       A recognised degree or higher diploma in accounting, finance, banking, economics, business administration, law or a related field.

·       Minimum of six years' relevant experience in internal control, compliance, internal audit, risk management, banking or related financial services functions, including at least two years in a supervisory or management capacity.

·       Demonstrable experience in internal control reviews, compliance monitoring, process testing and control assessment.

·       Strong understanding of banking operations, internal control principles and regulatory compliance requirements.

·       Practical experience identifying control weaknesses, investigating exceptions and monitoring remediation.

·       Good knowledge of CBN regulatory requirements applicable to microfinance banks.

·       Ability to interpret policies, regulations and procedures and translate them into practical control requirements.

·       Experience preparing management, compliance or control reports.

·       Working proficiency in core banking systems, spreadsheets, control monitoring tools and management information systems.

·       Demonstrated ability to maintain independence and exercise sound professional judgement when identifying and escalating control or compliance issues.

·       Relevant professional qualification such as ACA, ACCA, CISA, CRMA, CISI, CIBN, or other relevant banking, audit, risk or compliance certification will be an advantage.

·       Demonstrated integrity, attention to detail and strong corporate governance orientation.

Desired Attributes

•      Strong analytical, investigative and problem-solving capabilities.

•      Excellent communication and report-writing skills.

•      Ability to challenge business and operational teams constructively while maintaining effective working relationships.

•      High level of discretion and ability to handle confidential information.

•      Strong ethical standards and demonstrated professional integrity.

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 provided with the subject line “Application – Head, Internal Control and Compliance

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.