Head, Internal Audit & Compliance at Memento Microfinance Bank – Yaba, Lagos

Memento Microfinance Bank Limited is recruiting a full-time Head, Internal Audit & Compliance in Yaba, Lagos. The role reports to the Board Audit Committee and the MD/CEO and serves as the Bank’s Chief Compliance Officer.

Role overview

This position provides independent assurance on governance, internal controls and risk management while overseeing regulatory compliance. Internal Audit and Compliance activities must remain appropriately separated to safeguard independent assurance.

Internal audit responsibilities

• Act as the principal liaison with the Board Audit Committee on internal audit and provide periodic updates on findings and remediation.
• Prepare a risk-based annual internal audit plan for Board Audit Committee approval and implement the approved plan.
• Independently review governance, internal controls and risk management throughout the Bank.
• Audit financial, credit, operational, technology and outsourced activities and review compliance with policies and regulations.
• Investigate significant control exceptions, irregularities and weaknesses.
• Submit independent audit reports to the Board Audit Committee covering findings, risks, root causes and recommended corrective actions.
• Track agreed corrective actions and independently assess whether deficiencies have been resolved.
• Maintain unrestricted access to records, systems, personnel and information required for internal audit.
• Remain independent of audited operational processes and offer recommendations without designing or operating the controls.
• Maintain separation between ongoing compliance duties and independent audit assurance. Do not audit compliance activities under the postholder’s direct execution; consider external independent review or another Board Audit Committee-approved assurance arrangement.

Regulatory compliance responsibilities

• Lead the Bank’s compliance function as Chief Compliance Officer and maintain the framework of regulatory obligations, including applicable CBN requirements.
• Identify material compliance breaches and regulatory exceptions, escalate them and monitor remediation.
• Lead the AML/CFT/CPF programme, including KYC/CDD, sanctions screening, transaction monitoring, suspicious transaction escalation and statutory reporting.
• Oversee customer onboarding and ongoing KYC compliance.
• Coordinate compliance returns, regulatory submissions and records.
• Manage regulatory correspondence, inspections, examinations and remediation of findings.
• Monitor regulatory changes and advise management and the Board of their implications.
• Maintain and periodically review compliance policies, procedures and monitoring programmes.
• Conduct risk-based compliance monitoring and testing, with periodic reports to management and the Board.
• Coordinate regulatory and compliance training across the Bank.

Qualifications and competencies

• At least four years’ relevant experience in internal audit, compliance, internal controls or financial services, including independent responsibility for audit or compliance and engagement with senior management, regulators or Board-level committees.
• Bachelor’s degree in Accounting, Finance, Economics, Business, Law or a related discipline.
• Professional credentials in accounting, audit, compliance, risk or financial crime (such as ACA, ACCA, CIA or CISA) are preferred.
• Certificate in Microfinance Banking from the Chartered Institute of Bankers of Nigeria (CIBN), or willingness to obtain it where required.
• Strong knowledge of internal controls, audit, AML/CFT/CPF, regulatory compliance and financial-services regulation.
• Strong analytical, investigative, reporting and stakeholder-management capabilities.
• Ability to interpret regulatory obligations and translate them into practical controls and compliance action.
• Proficiency with audit, MIS, data-analysis and reporting tools.