Verite Microfinance Bank Limited is duly registered in the Federal Republic of Nigeria by the Corporate Affairs Commission and licensed by the Central Bank of Nigeria as a deposit-taking financial institution.
We are recruiting to fill the vacant position below:
Job Title: Internal Control and Audit Officer
- Manage operations of audit department to ensure achievement of set objectives and goals
- Reviewing and advising the management on reliability, adequacy, efficiency, effectiveness of internal control.
- Overseeing and ensuring preparation of timely Audit reports to the Board
- Audit Committee and provide progress reports regarding action taken by management.
- Conduct Audits in accordance with the approved internal audit plan.
- Determining process and procedures are adequate to prevent and detect fraud, suppression, theft or misappropriation of funds.
- Carrying out constant checks to ensure adherence to internal control policies and procedure on segregation of duties.
- Carry out audit investigation of each unit in accordance with the approved audit plan.
- Report rendition to CBN on Anti-Money Laundering policy.
- Reviewing and preparing the bank compliance ratios and compare side by side with the regulatory standard ratios to see if the bank is falling short of the standard and give recommendation on the way forward.
- Reviewing of daily call over report.
- Daily monitoring of Teller till.
- Reviewing bank reconciliations and other financials.
- Daily inspection of vault balance etc.
- Carrying field audit exercise on clients to ensure due diligence (KYC) is carried out on customers.
- Reviewing business continuity and disaster recovery plan.
- Daily tracking of loan repayment with audit control template.
- Ensure effective and optimal utilization plan and schedule audit programmes and ensure completion of audits on time
- Review and assess audit work done, ensure compliances with the necessary standards
- Keep relevant and up to date financial database on audit findings and integrate best practices and systems into the audit programs.
- Check the collaterals to be pledged and advise the bank on whether to accept such pledged collaterals.
- Ensure that the customers are satisfied fully by ensuring the credit decision making process is timely.
- Advise the management and the recovery team the recovery actions to be taken on defaulting account.
- Periodically do portfolio analytics to discover the changing trends and behaviors of customers ‘ in trying to discover the factors that are affecting their repayment.
- Effectively use the credit bureau [credit check]-XDS, CRC to discover customers who are either too exposed [over leveraged] or who have unfavourable credit records.
- Use the Cs of credit in making good credit decision.
- Conducting value for money audit on capital expenditure to avoid.