Head, Internal Audit At Page Financials

Job Summary

• To provide independent, objective assurance and advisory services designed to add value and improve the organization's operations by evaluating and enhancing the effectiveness of governance, risk management, and internal control processes.
• The Head of Internal Audit is responsible for establishing and maintaining a risk-based internal audit function that complies with applicable regulatory requirements, the Global Internal Audit Standards (GIAS), and industry best practices while supporting the achievement of the organization's strategic objectives.

Job Responsibilities

Internal Audit Strategy and Planning

• Develop and maintain a comprehensive risk-based Internal Audit Charter and Annual Audit Plan.
• Conduct enterprise-wide risk assessments to determine audit priorities.
• Ensure the annual audit plan reflects strategic, operational, financial, compliance, technology, cybersecurity, fraud, and emerging risks.
• Present the annual audit plan and significant amendments to the Board Audit Committee for approval.
• Periodically review and update the audit plan to reflect changes in the organization's risk profile.
• Develop audit methodologies consistent with the Global Internal Audit Standards.

Audit Execution

• Lead operational, financial, compliance, information technology, cybersecurity, forensic, and special audits.
• Evaluate the adequacy and effectiveness of internal controls across all business units.
• Assess compliance with internal policies, regulatory requirements, contractual obligations, and applicable laws.
• Review governance arrangements and organizational accountability structures.
• Evaluate business continuity and disaster recovery controls.
• Conduct audits of digital banking platforms, fintech operations, payment systems, lending platforms, treasury operations, and outsourced activities where applicable.
• Ensure audit engagements are completed in accordance with approved methodologies and within agreed timelines.
• Review audit working papers for quality, completeness, and compliance with professional standards. Issue timely, objective, and practical audit reports.

Fraud Risk Management

• Conduct fraud risk assessments.
• Lead or coordinate investigations into suspected fraud, misconduct, or unethical practices.
• Evaluate fraud prevention and detection controls.
• Recommend improvements to reduce fraud risk.
• Report significant fraud matters to Executive Management and the Board Audit Committee.
• Monitor implementation of fraud remediation actions.

Advisory Services

• Provide independent advisory services without impairing audit independence.
• Participate in major projects and strategic initiatives as an independent risk advisor.
• Review new products, services, systems, and business processes before implementation.
• Advise Management on governance, risk management, regulatory compliance, and internal control improvements.
• Support organizational transformation initiatives from a control perspective.

Third-Party and Outsourcing Risk

• Evaluate third-party governance arrangements.
• Review vendor due diligence processes.
• Assess outsourcing risks and service provider oversight.
• Audit compliance with contractual obligations by outsourced service providers.
• Review technology vendors, fintech partners, and critical service providers.

Environmental, Social and Governance (ESG) Assurance

• Provide assurance over ESG governance where applicable.
• Evaluate ESG reporting processes.
• Assess sustainability-related controls and disclosures.
• Review governance over climate-related and sustainability risks where relevant.

Reporting

• Prepare quarterly and annual Internal Audit reports.
• Report significant control weaknesses, governance issues, fraud risks, and regulatory concerns to the Board Audit Committee.
• Present audit findings to Executive Management and the Board.
• Provide periodic updates on implementation of audit recommendations.
• Escalate material issues requiring immediate Board attention.

Quality Assurance and Continuous Improvement

• Establish and maintain a Quality Assurance and Improvement Programme (QAIP).
• Ensure compliance with the Global Internal Audit Standards.
• Coordinate internal quality reviews and external quality assessments.
• Continuously improve audit methodologies, technology, and analytics capabilities.
• Promote innovation within the Internal Audit function.

Leadership and People Management

• Lead and develop the Internal Audit Department.
• Recruit, mentor, coach, and evaluate audit staff.
• Promote continuous professional development.
• Develop annual training plans.
• Foster a culture of integrity, independence, professionalism, and accountability.
• Manage departmental budgets and resources effectively.

Stakeholder Management

• Maintain effective relationships with the Board, Board Committees, Executive
• Management, regulators, external auditors, and professional bodies.
• Coordinate activities with external auditors to maximize audit efficiency.
• Promote awareness of internal controls throughout the organization.
• Serve as a trusted advisor on governance and risk management matters.
• Scope of Authority
• The Head of Internal Audit shall have unrestricted authority to:
• Access all records, systems, personnel, and physical properties relevant to audit engagements.
• Communicate directly with the Chair of the Board Audit Committee.
• Attend Board Audit Committee meetings.
• Escalate significant governance, risk, fraud, and control issues.
• Obtain information from any department necessary to perform audit responsibilities.
• Recommend corrective actions to strengthen governance, risk management, and internal controls.

Technical Competences

• Risk-Based Internal Auditing
• Regulatory Compliance
• Internal Control Evaluation
• Financial Analysis
• IT Audit
• Cybersecurity Assurance
• Data Analytics
• Fraud Investigation
• Report Writing
• Governance Assessment
• Leadership
• Competencies
• Strategic Leadership
• Sound Judgment
• Decision-Making
• People Development
• Stakeholder Management
• Change Leadership
• Communication and Presentation
• Conflict Resolution
• Behavioural
• Competencies
• Integrity
• Independence and Objectivity
• Professional Skepticism
• Accountability
• Confidentiality
• Analytical Thinking
• Attention to Detail
• Results Orientation
• Ethical Conduct

Knowledge Requirements

• Global Internal Audit Standards (GIAS)
• Corporate Governance Principles
• Enterprise Risk Management (ERM)
• COSO Internal Control Framework
• Regulatory requirements applicable to Nigerian financial institutions
• Financial reporting and accounting standards
• Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF)
• Information Systems Auditing
• Cybersecurity Risk Management
• Fraud Risk Management
• Data Analytics
• Project Management
• Environmental, Social and Governance (ESG) assurance principles
• Independence To preserve independence and objectivity, the Head of Internal Audit shall:
• Report functionally to the Board Audit Committee and administratively to the
• Managing Director/Chief Executive Officer.
• Have unrestricted and direct access to the Chair of the Board Audit Committee.
• Remain free from operational or executive responsibilities that may impair independence.
• Perform all duties in accordance with the Global Internal Audit Standards and the organization's Internal Audit Charter.

Required Education / Professional Qualification

Education

• Bachelor's degree in accounting, Finance, Business Administration, Economics, Law, Information Systems, or a related discipline.
• A master's degree (MBA, Finance, Accounting, Risk Management, or related field) is an added advantage.
• Professional Possession of one or more of the following is required:
• Certified Internal Auditor (CIA) ACA / ACCA / CPA
• Certified Information Systems Auditor (CISA)
• Certified Fraud Examiner (CFE)
• Certified Risk Management Assurance (CRMA)
• Other relevant governance, risk, compliance, or audit certifications.

Required Experience

• Minimum of 10 - 15 years progressive experience in Internal Audit, External Audit, Risk Management, Compliance, or Financial Control.
• At least 5 years in a senior management or leadership role.
• Experience within a regulated financial institution (Finance Company, Microfinance Bank,
• Commercial Bank, Fintech, Mortgage Bank, or Other Financial Institution).
• Demonstrated experience working with Boards, Board Audit Committees, regulators, and external auditors.
• Experience in digital financial services, cybersecurity auditing, and regulatory compliance is highly desirable.

Key Performance Indicators (KPIs)

• Completion of approved annual audit plan.
• Timeliness of audit report issuance.
• Percentage implementation of audit recommendations.
• Reduction in repeat audit findings.
• Number of significant control deficiencies identified and resolved.
• Regulatory examination outcomes.
• Timeliness of closure of regulatory findings.
• Internal Audit Quality Assessment results.
• Stakeholder satisfaction.
• Staff competency development and professional certifications.
• Audit budget adherence.