Compliance / Internal Control Officer at Shalom Microfinance Bank

Shalom Microfinance Bank, established in 2016, is an indigenous financial institution set up to provide financial services to Individuals, Entrepreneurs, and Businesses in the Micro, Small, and Medium Enterprises (MSMEs) category. We have a team of seasoned professionals with 10-15 years of experience in Banking, Strategy, Customer Experience, and Risk Management relevant to our Business environment.

At Shalom Microfinance Bank, our goal is to reach economically viable businesses and individuals, who are poor, excluded, currently unbanked, or have limitations in accessing funding from traditional banking institutions with a view to bringing their ideas and aspirations to reality as well as taking full advantage of varied income-generating opportunities.

We are recruiting to fill the position below:

Job Title: Compliance / Internal Control Officer

Location: Lagos
Employment Type: Full-time

Key Responsibilities
Internal Control & Risk Management:

• Develop and implement internal control policies, procedures, and frameworks.
• Conduct regular internal audits to assess operational efficiency and risk exposure.
• Identify gaps, weaknesses, and non-compliance issues, providing recommendations for corrective actions.
• Ensure that all transactions comply with the bank’s internal control processes and regulatory requirements.
• Investigate fraud, misconduct, and operational irregularities, providing reports to management.

Compliance Monitoring & Regulatory Adherence:

• Ensure the bank complies with regulatory guidelines from the CBN, NDIC, EFCC, SEC, and other governing bodies.
• Keep the organization updated on changes in microfinance banking laws and regulations.
• Conduct periodic compliance reviews and risk assessments.
• Prepare and submit regulatory reports to relevant authorities as required.

Policy & Procedure Implementation:

• Develop and review policies and procedures in line with regulatory requirements.
• Ensure that employees are trained and aware of compliance policies and ethical standards.
• Assist in enforcing adherence to anti-money laundering (AML) and counter-terrorist financing (CFT) regulations.

Reporting & Documentation:

• Maintain accurate records of all audit findings, control deficiencies, and compliance breaches.
• Provide timely reports to management on audit findings, regulatory updates, and compliance risks.
• Recommend process improvements to enhance internal controls and mitigate risks.

Fraud Prevention & Investigation:

• Monitor financial transactions for suspicious activities and report suspicious transactions as required.
• Investigate internal and external fraud cases, recommending preventive measures.
• Ensure adherence to Know Your Customer (KYC) and Anti-Fraud policies.

Qualifications & Experience

• Bachelor’s Degree in Accounting, Finance, Business Administration, or a related field.
• Professional certification such as ACA, ACCA,or ICAN is an added advantage.
• 2 - 5 years experience in internal control, compliance, or auditing, preferably in a Microfinance Bank or Financial Institution.
• Strong knowledge of CBN regulations, Microfinance guidelines, AML/CFT laws, and risk management frameworks.

Salary
N200,000 - N300,000 monthly.

Application Closing Date
16th April, 2025.

Method of Application
Interested and qualified candidates should send their CV to: patience.joshua@shalommfb.com using the job title as the subject of the mail.