Audit and Internal Control Officer / Manager at Sterling Asset Management & Trustees Limited

Department & Reporting

Department: Internal Audit & Control

Reports To: Managing Director / Board Audit Committee

Location: Head Office / Branches

Job Summary

The Audit and Internal Control Officer is responsible for ensuring that all operations, financial transactions, and business activities of the Microfinance Bank comply with internal policies, regulatory requirements, and sound governance practices. The role provides assurance on the effectiveness of internal control systems, risk management, and governance processes. This position offers a great opportunity for career growth.

Key Responsibilities

Internal Audit Functions

• Develop and implement an annual risk-based internal audit plan approved by the Board Audit Committee
• Conduct regular audit reviews of operational, financial, and compliance areas of the bank
• Verify the accuracy and reliability of financial records and reports
• Evaluate the effectiveness and adequacy of internal control systems across departments
• Conduct surprise cash counts and physical verification of assets, loans, and investments
• Review branch operations for compliance with standard operating procedures
• Prepare audit reports, highlighting control weaknesses, risks, and recommendations for improvement
• Follow up to ensure timely implementation of audit recommendations

Control and Risk Management

• Develop and update internal control policies, manuals, and procedures
• Identify areas of potential operational or financial risk and recommend mitigating measures
• Ensure segregation of duties in critical processes to prevent fraud and errors
• Review loan disbursement, recovery, and documentation processes for control compliance
• Monitor system access rights and ensure proper authorization levels within the bank's core banking application

Regulatory Compliance

• Ensure the bank's activities comply with CBN regulations, NDIC guidelines, MFB Policy Framework, and other legal requirements
• Assist in preparing and submitting statutory reports to regulators (CBN, NDIC, and other relevant authorities)