Senior Internal Control Officer

Job Description

Role Description Determine the processes and sub-processes applied at the branch, including input, processing and output. Perform an end-to-end review of each process and determine relevant risks and controls. Undertake root-cause analysis to address and mitigate the identified risks and recommend adequate remedial action. Facilitate controls gap analysis, remediation planning and testing for all business units. Ensure that the controls are efficient and effective, thus maintaining risks at an acceptable level. Ensure that the processes are in compliance with regulatory requirements and best practices, at governance, oversight and operational levels. Provide counsel and advice to the various functions in view of enhancing the branchs control structure. Review the branchs policies, procedures and systems, before implementation, in order to assess the inherent risks, determine sufficiency of controls, and convey approval. Undertake a continuous Control Self-Assessment exercise. Apply the COSO integrated control framework in order to evaluate and address the adequacy of controls. Maintain an updated Risk Register detailing the determined risks, and relevant controls, at organization, operational and systematic levels. Establish an Annual Internal Control Plan that will be incorporated into the Compliance Yearly Plan catering for the processes to be reviewed and the controls to be tested. Perform regular and comprehensive internal control oversight and report all identified breaches and corrective action taken on internal control matters Prepare annual report on internal control in coordination with Management and head office. Prepare internal control report for every assignment conducted detailing the review objectives, scope and outcome. Make internal control record file of all of the branchs activities and determine the frequency of each control procedure (daily, monthly, etc.) based on the risk involved and the efficiency of current procedures. Liaise with local Central Bank/Regulator whenever required, response on queries and communicate issues raised by them and follow up such issues until final resolution. Responsible for the maintenance of a permanent file and working file. The permanent file must contain all information regarding the banks activities and internal control reports, including the organization chart, description of procedures, important control points and previous reports. The working file must give a clear indication of the tasks performed and the steps phases followed (legible work sheets providing a clear history of chosen transactions, controls performed, problems ascertained and findings). Review system changes and or enhancements of Central Banks returns to ensure that the implementation is within Central Banks policies. Ensure the integration of new regulations and procedural amendments. Participate in special assignments & investigations, as and when required. Recommend improvement in banks policies and procedures as appropriate to be in line with new and or amended Central Banks regulations and statutory requirements. Make necessary recommendations in order to improve the security and efficiency of transactions. Qualifications 4-6 years, experience of control/audit procedures and knowledge of compliance in banking institution (covering Retail/ Wholesale/ Treasury) or regulatory agency preferably in internal audit function. Bachelor degree with professional qualifications such as CCO/CPA/CIA/CA. Understanding of Countries Banking Regulatory environment Hands on experience of using local regulator systems.