Head, Internal Audit and Compliance at Solina Group

Head, Internal Audit and Compliance

Solina Group
Closing date

Solina Centre for International Development and Research (SCIDaR) is an indigenous nonprofit institution that works to accelerate positive health, social and economic reforms through high quality program design and implementation, capacity building, implementation science research and knowledge generation, as well as agenda setting and stakeholder convening across human development sectors. Our work seeks to benefit primarily disadvantaged and under-served populations. We implement transformation programs in Nigeria and are currently expanding our footprint to several West and Central African countries. We are building a competent world class management team to enable us achieve our strategic growth objective in a sustainable way.

II. Description and Objectives

The Head, Internal Audit and Compliancewill oversee SCIDaR’s internal audit and compliance activities to ensure adherence to all regulatory and funder requirements as well as internal policies and procedures. She/he will be responsible for instituting appropriate internal controls in all business systems and departments and verifying the accuracy of accounting information. The incumbent will also implement risk-based audit processes to assess and improve SCIDaR’s key operational and financial activities and internal controls.

III. Institutional leadership responsibilities

As a core part of the Management Team, the incumbent will be required to contribute substantially to organizational strategy and management in ways including, but not limited to:

a. Identification and execution of institutional strategic priorities for SCIDaR that align with the mission and values, and that are responsive to the evolving trends in the human capital development sectors;

b. Support for Executive Management as needed with institutional representation; operational efficiencies; organizational processes; business assurance; business risk assessment and mitigation; people development, and general leadership and oversight for the organization.

Also, as a department head, she/he will be required to provide effective leadership for the department in ways including, but not limited to:

c. Development of costed annual departmental work plans and identification of annual strategic priorities for the department;

d. Custody of audit and compliance policies, processes and tools, including periodic updates and revisions as necessary to meet institutional needs;

e. Management and supervision of departmental staff, including supporting learning and capacity building and assignment of job functions and KPIs;

IV. Technical responsibilities

The Head, Internal Audit and Compliance will review SCIDaR’s risk management plans, financial and operational policies, procedures, records and accounts, and appraise the effectiveness by which SCIDaR meets its objectives. She/he will also be responsible for monitoring compliance with these policies. The incumbent will ensure the adequacy of controls necessary in all areas and will confirm that management has taken the necessary steps to achieve these objectives. Specific responsibilities include:

a. Internal controls and compliance monitoring for all staff and programs

i. Operations control:

  1. Performing audits through the review of physical and electronic records with the aim of evaluating the level of compliance with established business control policies, processes, procedures, standards, laws and regulations in all functional areas;
  2. Evaluating information management systems and computer databases to ensure that confidential information and proprietary intellectual property is secure, and make sure that only authorized users are able to gain access to privileged information and that the information itself is accurate;
  3. Maintaining back up (physical and electronic) of all internal audit materials for easy retrieval and reference and monitoring the document management process across the organization;
  4. Participating in stock counts, conducting physical verification of assets and consumables, and monitoring their disposal, as directed by the Executive Management Team and following through to ensure that store balances are reconciled to the general ledger;
  5. Identifying control weaknesses or process improvement opportunities and initiating workable solutions when necessary and implementing planned controls when major changes are made to various administrative systems;

ii. Financial Control:

  1. Conducting monthly review of all transactions and bank reconciliation statements for all existing bank accounts, focusing on appropriate posting of transactions and ensuring compliance with statutory deductions;
  2. Maintaining a system to continuously review income and expenditure; to ensure that all financial transactions are in accordance with established policies and procedures, and maximize value for money;

iii. Forensic control:

  1. Developing systems for reporting and investigating unethical practices anonymously and appraising the adequacy of such systems, including their ability to detect and prevent fraud;
  2. Investigating and reporting all transaction irregularities or suspected fraud, waste, abuse and inefficiencies and making recommendations on appropriate preventive or remedial actions;
  3. Conducting ad hoc and confidential investigations as directed by the Executive Director and/or Board;

iv. Compliance and continuous improvement:

  1. Objectively reviewing SCIDaR’s current business processes and evaluating the efficacy of risk management procedures that are currently in place, to create a compliance system that effectively addresses organizational needs;
  2. Designing and leading the implementation of an effective compliance program to prevent, detect and correct any issues of non-compliance with SCIDaR’s policies and procedures, donor regulations, requirements, national laws and regulations;
  3. Mentoring and educating all employees to ensure compliance with internal policies and ensuring that the organization is compliant with relevant laws and contractual obligations;
  4. Identifying and recommending ways to improve internal controls and compliance processes;
  5. Tracking the timeliness of required filings to comply with tax, legal, insurance, other regulatory and donor requirements;
  6. Engaging in continuous knowledge development regarding not-for-profit governance and associated rules, regulations, best practices, tools, techniques and performance standards;

v. Corporate governance

  1. ­Promoting the highest standards of ethics and standards across the organization based on the principles of integrity, objectivity, competence and confidentiality;
  2. Verifying and ensuring the accuracy of management information and making audit/compliance disclosures accordingly;
  3. Giving advice to the executive management team and others on the control arrangements and risks relating to proposed policies, programs and projects;
  4. Serving as a “thought leader” with respect to risk management, audit, compliance and internal control best practices;

b. Institutional risk assessment and mitigation

i. Risk management:

  1. Developing and executing a structured, consistent, and continuous process across the whole organization for identifying, assessing, monitoring, responding to and reporting on risks and opportunities that affect the achievement of its objectives (whether internal or external to the organization);
  2. Managing and monitoring major changes to SCIDaR’s business environment and risk profile in terms of compliance and privacy, finances, safety, legal liability, human capital, operations, reputation and strategic issues;
  3. Performing risk and internal controls assessments of partner companies or joint venture companies and lead efforts to mitigate identified risk and control deficiencies;

ii. Audit strategy development:

  1. ­Producing an internal audit strategy that fits with and supports SCIDaR’s objectives and reflects the organization’s risk maturity;
  2. Developing and executing annual audit plans, ensuring the plan is responsive to and aligned with the risk profile of the organization;
  3. Regularly reporting to the Executive Management Team on the status of audit activities and emerging risks or exposures, that should be considered (whether internal or external to the organization);
  4. Monitoring emerging trends and successful practices in internal audit related to donor funded projects and the human capital development sector more generally, developing and incorporating a risk-based approach into the annual audit plan;

iii. Program audit:

  1. Regularly conducting program performance audits to assess the achievement of set program goals, objectives and milestones, identifying process shortfalls and making suggestions for improvement where necessary;
  2. Ensuring principles of value for money are adhered to in all program implementation;

iv. External audit facilitation and monitoring:

  1. Reviewing and endorsing the External Auditor’s proposed audit plan and approach, including materiality levels, content, appropriateness and timeliness and verifying the fitness of accounting policies, estimates and judgements;
  2. Reviewing the External Auditor’s summary management report which details the results and significant findings from the audit, and management responses;
  3. Ensuring management implements recommendations arising from external audit reports;
  4. Liaising closely with the external auditor to share knowledge at the end of audit processes;

V. Required competencies

a. Core requirements

i. Compelling evidence of interest in and commitment to the mission of SCIDaR;

ii. Commitment to helping build the organization for a minimum of two yearsin the role;

iii. Demonstrated strong strategic thinking, problem solving and thought leadership abilities;

iv. Advanced computer usage skills with proficiency in Microsoft® Word, Excel, PowerPoint;

v. Experience with accounting packages and systems such as QuickBooks, SAGE, etc.;

vi. Demonstrated understanding of operational dynamics, internal audit methodologies, corporate governance procedures, and conversance with statutory laws and regulations;

vii. Fast learner, open to learning from peers, subordinates and supervisors collaboratively and at a rapid pace;

viii. Results oriented performer, experienced in developing and tracking self and team with clear KPIs;

ix. Strong verbal and written communications skills;

x. Ability to travel and work in ANY state in Nigeria and abroad for up to 50% of his/her time;

b. Education and Experience

i. Academic training: Minimum of Masters’ degree in accounting and finance or similarly relevant field;

ii. Professional credentialing: Professional accounting/audit certification, e.g. ICAN, ACA, ACCA, CPA;

iii. Experience: Minimum of 10 years progressive experience in varied aspects of audit and compliance in verifiable and reputable establishments (e.g., business assurance, risk management, information, operations and business systems auditing); some of the recent experience must be at a senior or strategic level;

iv. Consulting experience: in business assurance and/or audit in a top four (4) audit firm is a major plus.

VI. Equal employment opportunity statement

SCIDaR is an equal employment employer. We do not engage in practices that discriminate against any person employed or seeking employment based on race, color, religion, gender, national or ethnic origin, age, marital status, genetic information or any other status or characteristic protected under applicable laws.

How to Apply

Application instructions

a. An up-to-date CV and cover letter should be submitted to [email protected];

b. The CV / cover letter must include email addresses and phone numbers of three (3) professional referees who can speak to the candidate’s work ethics and capabilities;

c. The email should be formatted as such: Application: Role to which applied_first name last name_date of submission. Example: Application: Head, Internal Audit & Compliance_John Doe_June 12, 2019

d. Candidates are encouraged to only apply for positions for which they meet the eligibility criteria specified above.

Application deadline

a. Applications must be received by Monday, July 22, 2019