Internal Control Officer at Powerex

Objecitves

• The Internal Control Officer is responsible for implementing, maintaining, and monitoring internal control systems to ensure the accuracy, reliability and completeness of financial information, compliance with applicable laws and regulations, and protection of the organization’s assets. thereby minimizing exposure to potential risks to prevent frauds, embezzlement, misappropriations, misuse and wastage.

Job Description

• Consistently carry out internal audit of petty cash funds to ensure proper usage and documentation.
• Ensure pre and post disbursement checks.
• Verify the accuracy of reconciliations
• Carry out spot checks anytime and anywhere in the processes.
• Cut wastage and ensure profitability on expenses and advances.
• Support the development of policies and procedures to strengthen control mechanisms and ensuring adherence to policies and processes
• Evaluate the effectiveness of internal controls and recommend improvements.
• Drawing up recommendations to proactively mitigate the exposure to risk.
• Bank reconciliations
• Perform regular audits and reviews of financial transactions, inventory management, and other operational processes to identify anomalies or errors.
• Evaluate the effectiveness of cash controls and verify the accuracy of cash records and reporting.
• Prepare reports on internal control findings, recommendations, and performance metrics for management review.
• Compare physical counts with inventory records and review reconciliations for accuracy and verify the accuracy of inventory records and reporting.
• Ensure accuracy of payables and receivables balances in the accounts
• Verify the accuracy of financial records, including invoices, receipts, and payroll.
• Preparing audit reports and following up on implementation of the audit recommendations
• Continually review and assess the effectiveness and efficiency of policies, procedures and processes and identify improvement opportunities
• Carrying out investigations into suspected fraudulent practices in the Group
• Interpret and analyze reports/data/information to identify possible risk exposure
• Conduct physical verification of inventory in stores and warehouses.
• Follows-up on the implementation of the audit recommendations
• Provide training to staff on compliance, internal controls, and fraud prevention.
• Attend to additional official duties

Requirements

• Bachelor’s Degree or HND in Accounting, Finance, Economics, or a related field.
• Experience in internal control, audit, risk management, or compliance roles.
• Strong understanding of internal control frameworks
• Professional certification e.g: ICAN, ACCA
• IFRS 17 experience
• Strong knowledge of financial accounting
• Proficiency in MS office Suite

Skills and Competencies:

• Compliance and internal audit practice
• Fraud detection and control
• Inspection and investigation
• Strong analytical skills.
• Operational risk management
• In-depth knowledge of internal control frameworks and best practices.
• Budgeting and budgetary control
• Excellent communication, and report writing skills.
• Knowledge of Nigerian tax laws, financial regulations, and inventory management.
• Resource management
• Attention to detail and organizational abilities
• Proactive mindset.