Paga Nigeria is recruiting on behalf of Memento Microfinance Bank Limited, a Tier 1 Unit microfinance bank licensed by the Central Bank of Nigeria (CBN), to fill the position of Head, Internal Audit & Compliance in Lagos.
Memento Microfinance Bank provides regulated savings and lending products and services to individuals and small and medium-sized businesses, primarily through digital channels and partnerships.
Job Details
- Job Title: Head, Internal Audit & Compliance
- Company: Memento Microfinance Bank Limited
- Recruitment Partner: Paga Nigeria
- Location: Yaba, Lagos
- Job Type: Not Specified
- Experience: Minimum of 4 years’ relevant experience
- Application Deadline: Not Specified
Role Summary
The Head, Internal Audit & Compliance will lead the Bank’s Internal Audit and Compliance functions and serve as its Chief Compliance Officer.
The role provides independent assurance on the effectiveness of governance, internal controls, and risk management processes while overseeing compliance with applicable laws, regulations, and internal policies.
The position will also oversee the Bank’s regulatory compliance framework, AML/CFT/CPF programme, and engagement with relevant regulatory authorities.
The successful candidate must maintain appropriate separation between ongoing Compliance activities and independent Internal Audit assurance. Internal Audit assurance should not be provided over Compliance activities for which the role has direct execution responsibility.
Key Responsibilities
Internal Audit
- Serve as the principal liaison with the Board Audit Committee on Internal Audit matters.
- Provide periodic updates on audit activities, findings, and remediation.
- Develop the risk-based annual Internal Audit Plan for approval by the Board Audit Committee.
- Execute the approved Internal Audit Plan.
- Independently assess the adequacy and effectiveness of governance, internal controls, and risk management processes across the Bank.
- Conduct audits and reviews covering financial, credit, operational, technology, and outsourced activities.
- Assess compliance with applicable policies and regulatory requirements.
- Investigate material control exceptions, irregularities, and identified weaknesses.
- Prepare Internal Audit reports detailing findings, risks, root causes, and recommended corrective actions.
- Submit Internal Audit reports directly to the Board Audit Committee.
- Track agreed remediation actions and independently assess whether findings have been satisfactorily addressed.
- Maintain unrestricted access to records, systems, personnel, and information required for Internal Audit activities.
- Maintain independence from operational activities and controls subject to audit.
- Provide practical recommendations for strengthening controls and improving processes without assuming responsibility for designing or operating those controls.
Compliance
- Serve as the Bank’s Chief Compliance Officer and lead its regulatory compliance function.
- Maintain the Bank’s regulatory obligations framework.
- Monitor compliance with applicable CBN and other regulatory requirements.
- Identify, escalate, and monitor the remediation of material compliance breaches and regulatory exceptions.
- Lead the Bank’s AML/CFT/CPF programme, including KYC/CDD, sanctions screening, transaction monitoring, suspicious transaction escalation, and required regulatory reporting.
- Oversee compliance with customer onboarding and ongoing KYC requirements.
- Coordinate compliance-related regulatory returns, submissions, and record-keeping.
- Manage regulatory correspondence, inspections, examinations, and remediation of regulatory findings.
- Monitor regulatory developments and advise Management and the Board on their implications for the Bank.
- Maintain and periodically review compliance policies, procedures, and the compliance monitoring programme.
- Conduct risk-based compliance monitoring and testing.
- Provide periodic compliance reports to Management and the Board.
- Coordinate appropriate regulatory and compliance training across the Bank.
Requirements and Qualifications
Candidates applying for the Head, Internal Audit & Compliance position should have:
- A minimum of 4 years’ relevant experience in internal audit, compliance, internal controls, or financial services.
- Demonstrated experience independently managing audit and/or compliance responsibilities.
- Experience engaging with senior management, regulators, or Board-level committees.
- A Bachelor’s Degree in Accounting, Finance, Economics, Business, Law, or another relevant discipline.
- A relevant professional qualification in accounting, audit, compliance, risk, or financial crime, such as ACA, ACCA, CIA, CISA, or equivalent, is preferred.
- Strong knowledge of internal audit, internal controls, AML/CFT/CPF, regulatory compliance, and financial-services regulation.
- A Certificate in Microfinance Banking issued by the Chartered Institute of Bankers of Nigeria (CIBN), or willingness to obtain the certification where required.
- Strong analytical, investigative, report-writing, and stakeholder-management skills.
- Ability to interpret regulatory requirements and translate them into practical controls and compliance actions.
- Proficiency in audit, MIS, data analysis, and reporting tools.
Application Closing Date
Not Specified
How to Apply
Interested and qualified candidates should apply online for the Head, Internal Audit & Compliance position through the recruitment portal.
