General

La Fayette Microfinance Bank Risk, Internal Control and Compliance Manager Job Vacancy

Othuke Andrew Akpeli7 years ago6 years ago011 mins

La
Fayette Microfinance Bank Limited – As an international registered microfinance
bank, La Fayette Microfinance Bank offers a complete range of financial
services and means of payment for its customers, including savings accounts,
current accounts and fixed deposit accounts.

Fully
client oriented, La Fayette Microfinance Bank offers great flexibility,
independence and financial security to help clients stay committed to their
short and long term financial goals. Formally incorporated as La Fayette
Microfinance Bank, the bank started full operation in February 2013 and has
built a strong client base, serving clients from eight branch networks in
Ibadan– Bodija, Challenge, Dugbe, Gbagi and Iwo road, Ogbomosho, Oyo and Saki
towns, all strategically situated within close proximity to customers.

We
are recruiting to fill the position below:

Job
Title: Risk, Internal Control and Compliance Manager
Location: Ibadan, Oyo

Job
Description

The
Risk, Internal Control and Compliance Manager will partner with management
in providing continual risk assessment and development comprehensive
policies, procedures, compliance training, protocols, internal
investigations, plans and implements enterprise risk management strategies
and processes.

Main
Responsibilities and Task
Risk Management:

Work
with Board Audit, Risk and Compliance committee in ensuring the
identification and prioritization of risks and reporting of the same
Monitor
and report on compliance with regulatory requirements.
Proactively
identify emerging risks and report to relevant stakeholders.
Develop
risk management system and train departmental risk champions on
implementation
Attend
Board Audit and Risk Committee meetings; and any other duty assigned by
Management
Develop
the Enterprise Risk Management Policy for the bank
Set
a risk and compliance framework for the firm in line with our principles
and culture.
Proactively
Guide the integration of enterprise risk management with other
organizational planning and management activities.
Identify
training needs for risk management and oversee development of enterprise
risk competence and awareness across the bank
Evaluate
the adequacy of the company’s internal control framework in addressing
risks and accomplishing the company’s goals and objectives;

Credit
Risk:

Analyse,
on a quarterly basis, quality of loan portfolio depending on:

Client
Officer / Branch
Composition
of LCM
Type
of Business Activity
Zones
or market area.
Change
in RSM
Value
of Collaterals, etc.

Perform
regular analysis and monitoring of credit risk and exposure and likely
impact on La Fayette MFB on:

Quality
of the loan portfolio
Business
sector analysis
Market
trends

Perform
periodic market survey to identify sector base risks in our target market.
Follow-up
and advise management regularly on the performance of exceptional loan
files:

Restructured
Loans.
Top-up
Loans.

Regular
follow-up of bad debt management by the Recovery Unit and make
recommendation on :

Management
of nonaccrual loans
Performance
of written-off loans
Legal
cases
Management
of seized items.
Valuation
/ Auction exercises

Research
and advice management on exceptional cases (potential high risk).

Operational
Risk:

Identify
and liaise with department and unit heads in identifying major risk areas
and propose actions in the management of such
Monitor
implementation of action plans to ensure risk mitigation efforts are
proceeding as required.
“Test”
the effectiveness of cascading risk management approach to business
decision making

Fraud
Analysis, Prevention & Whistleblowing:

Develop
a proactive, independent, balanced fraud risk awareness within the bank
Exercise
direct ownership for Fraud Risk Management control across the Bank.
Ensure
compliance on all fraud risk reporting requirements both internal and
external.
Develop
Standards for Fraud Risk Management.
Ensure
that Fraud Risk achieves an optimal balance with regard to cost,
efficiency, operations and customer service.
Act
as a major stakeholder in managing whistleblowing.

Reporting
Tools:

Update
all Risk reporting tools to the M.D on a monthly basis
Develop
new reporting tools in line with business need.

Compliance
Function:

Keep
abreast with all government legislations and CBN policies that may affect
operations and advise management on it.
Work
with IT to ensure full compliance of monthly reporting of lending
activities to the Credit Bureau.
Attend
Board Audit and Risk Committee meetings and any other duty assigned by
Management.
Act
as the banks Compliance Officer I relating with regulatory bodies e.g CBN,
NDIC etc
Co-ordinate
the writing and updating of processes, procedures and other guides
relating to operations
Perform
regular control on KYC/AML for account opened in branches
In-charge
of Pol_Pro_GUIDE and must ensure its regular updates in all the branches.
Work
closely with IT (data base) to ensure that the update of various forms,
profiles, TC Limits, etc. in Orbit are made according to procedures.
Keep
abreast with and advise management of any new development in the market by
a competitor, government or CBN that may have impact on operations

Internal
Control and Reporting on Mission:

Ensure
the implementation of good internal control system in all branches through
a regular follow-up of the implementation of BM/CSS/HT Checklists.
Performs
controls on client transactions in their account to check correctness and
consistency.
Conduct
independent control on the full compliance of policies and procedures at
all stages of the credit process through desk review and field reviews
with the main purpose of identifying and blocking all loopholes in the
process
Ensure
the proper dissemination and implementation of new policies and procedures
in the branches relating to operations.
Be
actively involved in the set-up of a new point of sales in order to ensure
proper implementation of all internal control systems
Perform
control on customer feedback in branches – opening the suggestion boxes
and discussing its contents.
Ensure
the implementation of all reporting tools across network and head office.

Generic
Activities
The Head of Risk Management shall demonstrate:

Ability
to forecast needed adjustment to strategy in order to achieve operational
and financial objectives
Control
of internal policies, especially regarding to the bank’s risk exposure
Contribution
to strategic thinking.
Ability
to train and support teams under his direct responsibility
Ability
to represent Advans Nigeria in the intervention area by demonstrating
professionalism and dynamism, and to develop a valuable knowledge of
his/her intervention area, gaining respect and confidence from clientele
Ability
to communicate clearly with staff under supervision and management at the
head office level, both orally and in written
Ability
to anticipate, identify and analyse issues that may hamper the development
of the institution (internal control)
Ability
to ensure a timely and transparent reporting to higher ups, and to propose
new initiatives for the overall business development.

Person
Specification
Qualification/Education:

Minimum
of First degree in Social Sciences, Humanities, and Arts and relevant
professional qualification in e.g. ACCA, CIBN, CIB, MCP.
Familiarity
with operational, financial and quality assurance procedures is required.
A
Masters degree in Management will be an advantage.

Work
Experience:

Minimum
of 10 years relevant experience in microfinance of which five should be in
a managerial capacity.
Good
understanding of the compliance function in a micro finance establishment
is also required.

Skills: