VFD Group is a financial services focused proprietary investment company that creates value by working within Nigeria’s informal financial sector to create innovative products and solutions that are accessible to the everyday Nigerian citizen and entrepreneur.
At VFD Group, we discovered that despite the size of the formal financial sector, the informal sector is greater still, and that there are immense opportunities for value creation within this informal sector. Considering that, we developed a business model that allows us to operate in every area of the financial industry through our subsidiaries, providing Financial Advisory, Asset Management, Currency, Real Estate, Debt Services and Private Funds Management Services, taking deposits and providing loans at very competitive rates.
Internal Audit and Control Officer
Location: Lekki, Lagos
- Formulate and execute company control processes, and review daily, weekly, and monthly accounts reconciliations by identifying reconciling differences, escalating issues, and communicating results to management and colleagues.
Duties and Responsibilities
Budget & Budget control:
- Monitor annual budget figures
- Provide a monthly variance and budget gap report
- Ensure expenses are always within budget except with exceptional approval
- Ensures that cash amounts in the company’s ledgers agree with bank balances
- Ensures guidelines and policies around cash processes are adequate & effective
- Ensure daily call-over
- Review monthly bank reconciliation of all accounts.
Regulatory compliance reporting:
- Ensure zero regulatory infraction in areas relating to financial reporting
- Review fillings to regulators
- Ensure remittance of all government taxes.
Revenue and cost assurance:
- Develop an integrated cycle to ensure prevention, detection, analysis and Response.
- Ensure avoidable losses and cost exposure.
- Ensure no opportunist fraud window.
- Ensure no areas of income leakages.
- Develop proper internal audit and control system.
- Define control measure for all key activities and ensure compliance.
- Prepare audit reports.
- Advise units on departure from policies, procedures and other exceptions.
Asset and Liability management:
- Develop an ALM system.
- Develop ALM policies and procedures.
- Suggest strategic guidance where necessary.
- Special investigations and daily call overs:
- Review all payment vouchers to both internal and external parties.
- Perform investigations into suspected fraudulent/ sharp practices.
- Provide appropriate line of action and recommendation for investigated fraudulent activities.
- Prepare/compile agreed periodic activity report for the MD/CEO.
- Other adhoc assignment as assigned.
- First degree or its equivalent in a Numerate discipline (Accounting, Economics, Finance, etc), MBA or Master’s degree will be an added advantage.
- Minimum of 5 years’ cumulative work experience in a similar role.
- Professional Membership: ICAN, ACCA
- Knowledge of corporate governance practices.
- Ability to analyze data.
- Ability to read large volumes of documents effectively and extract necessary information.
- In-depth understanding of the organization’s business issues.
- Communication & Presentation.
- Good report writing skills.
- Proficient at Excel, MS Word and Power point.
- Developed ability to produce reports and presentations to a professional standard.
- Excellent written and oral communication skills.
- Very good proof-reading skills.
25th February, 2020