Group Lead, Financial Auditing, Regulatory Reporting & Compliance

Job Title: Group Lead, Financial Auditing, Regulatory Reporting & Compliance
Reports to: Group Executive Internal Audit & Management Services
Direct Reports: Group Manager, Financial Auditing, Regulatory Reporting & Compliance

JOB PURPOSE

The Group Head of Financial Auditing, Regulatory Reporting & Compliance will oversee the financial control, audit operations, regulatory reporting, and compliance functions across Ecobank Group. This position will have responsibility to establish the framework, planning, executing and reporting on financial, regulatory and compliance audits in line with the Risk Based Audit methodology and International Standards (IIA) for Internal Auditing. This includes capital adequacy stress testing, liquidity oversight, and strategic advisory support to senior management.

JOB CONTEXT

This position will require the candidate to exhibit integrity, diversity, flexibility and objectivity. The candidate should have good insights and instincts, ability to proactively identify key risk and challenges and build partnership with various stakeholders.
The person would have the responsibility to ensure control weaknesses within Financial Control, Regulatory Reporting and Compliance are properly identified and monitored.

KEY RESPONSIBILITIES

1.    Financial Control

Policy Framework and implementation:

•    Establish framework to ensure an effective review of the accuracy of financial statements in accordance with IFRS, IAS and local GAAP standards.
•    Develop audit programs and testing procedure (checklist) for Financial Accounting and tax requirements across the group.
•    Monitor compliance with financial policies and recommend updates to address emerging risks or regulatory changes.
•     Develop and implement robust financial audit policies and procedures across all affiliates to ensure consistency and adherence to the group’s financial governance framework.
•    Monitor compliance with financial policies and recommend updates to address emerging risks or regulatory changes.

Financial Reporting Accuracy:

•    Ensure the accuracy and completeness of financial statements across all affiliates by establishing a framework for financial data validation and verification.
•    Conduct periodic reviews of financial reports to identify discrepancies and implement corrective measures.

Cost Control and Efficiency:

•    Develop and implement cost control measures to enhance operational efficiency and optimize resource allocation.
•    Conduct regular reviews of financial performance against budgets and forecasts, identifying areas for cost reduction and efficiency improvement.

Internal Controls:
•    Ensure effectiveness of internal controls design and implementation to safeguard the group’s assets and ensure the integrity of financial transactions.
•    Conduct regular assessments of internal control systems, identifying weaknesses, and recommending improvements.

2.    Financial Auditing Responsibilities:

Risk Assessment:

•    Conduct comprehensive risk assessments to identify financial, operational, and compliance risks across the group.
•    Develop and implement risk-based audit programs to address identified risks and ensure effective risk management.
•    Provide strategic oversight of the Group’s financial risk assessment framework, ensuring alignment with evolving accounting, tax, and regulatory environments.

Audit Reviews and Findings:

•    Review audit findings and reports from affiliate audit teams, providing guidance and support to ensure high-quality and actionable recommendations.
•    Present audit findings to senior management and the board, highlighting key risks and control

weaknesses, and recommending corrective actions.

•    Carry out comprehensive Balance Sheet review.
•    Assess the effectiveness of trail balance review.
•    Ensure effectiveness of proof and reconciliation process across the bank.
•    Review tax computations for accuracy and ensure escalation of tax risk exposures and losses.
•    Ensure proper Fixed Asset reconciliation and valuation.
•    Assess the effectiveness of the consolidation process across the group.
•    Perform continuous risk assessments review of the adequacy and effectiveness of Financial Reporting, and identifies control gaps and opportunities for improvement

•    Guide the development of affiliate-level financial audit strategies, ensuring alignment with group-wide priorities and audit risk universe.

Audit Quality Assurance:
•    Establish and maintain quality assurance processes to ensure audit activities meet professional standards and deliver value to the organization.
•    Conduct periodic peer reviews of audit processes and reports to ensure consistency and quality across affiliates.
•    Champion audit excellence by embedding IIA standards, automation tools, and competency-based methodologies across financial audits.
Follow-up and Monitoring:
•    Establish robust group-level monitoring systems to ensure timely resolution and closure of critical financial audit issues, with escalation triggers to executive management and the Board..
•    Develop and maintain a system for tracking and reporting the status of audit recommendations across the group.

Continuous Improvement:

•    Foster a culture of continuous improvement within the audit function by incorporating best practices and leveraging technology to enhance audit efficiency and effectiveness.
•    Stay updated on industry trends and regulatory changes, incorporating relevant developments into the audit strategy and practices including CACM, AI, OCR,ML,RPA, etc…
•    Collaborate with Group Finance, Risk, and IT to align financial audit tools and practices with enterprise systems (e.g., ERP platforms, IFRS 9 engines, consolidation tools).

3.    Regulatory Reporting Responsibilities:

Regulatory Compliance:

•    Ensure the group and its affiliates comply with all applicable financial regulations, laws, and standards.
•    Keep abreast of regulatory changes and advise management on necessary adjustments to maintain compliance.
•    Assess compliance with all statutory and tax requirements across the Group.
•    Ensure effective implementation of Basel II/III framework across the Group

Report Preparation and Submission:

•    Oversee the preparation and submission of accurate and timely regulatory reports to local and international authorities.
•    Coordinate with affiliate teams to ensure consistency and accuracy in reporting.
•    Establish framework to ensure accurate and timely rendition of regulation reports.

Stakeholder Engagement:

•    Develop and maintain relationships with regulatory bodies to facilitate open communication and effective resolution of compliance issues.
•    Act as the primary point of contact for regulatory audits and inquiries.

4.    Compliance Management Responsibilities:

Compliance Program Development:

•    Develop audit programs and testing procedure (checklist) for Compliance review across the Group.
•    Develop and implement a comprehensive compliance program that includes policies, procedures, and training to promote a culture of compliance throughout the organization.
•    Ensure compliance policies are effectively communicated and understood across all affiliates.

Monitoring and Reporting:

•    Monitor compliance activities across the group, identifying potential risks and areas for improvement.
•    Prepare regular compliance reports for senior management and the board, highlighting key issues and recommending corrective actions.
•    Ensure Compliance risk facing the business are properly identified and monitored.
•    Perform continuous risk assessments review of the adequacy and effectiveness of Compliance activities, and identify control gaps and opportunities for improvement
•    Ensure robust policies are in place for Anti Money Laundry and Terrorist Financing, and are operating effectively. 
•    Champion best practice in governance, assess the adequacy of governance systems and the management of existing risks.
•    Ensure ETI Governance charter is complied with across the bank.

Training and Awareness:

•    Conduct regular compliance training sessions to ensure staff are aware of their responsibilities and the importance of compliance in their daily activities.
•    Develop and distribute compliance-related communications to reinforce the group’s commitment to ethical conduct and regulatory adherence.

5.    Audit Planning and Execution

•    Develop and oversee the execution of the annual audit plan, ensuring it covers key risk areas and aligns with the group’s strategic priorities.
•    Coordinate with internal audit teams across affiliates to ensure consistent audit methodologies and standards.
•    Align audit plan to the banks strategy.
•    Ensure execution of audit plan as approved by ETI Board of Directors.
•    Ensure timely rendition of audit reports.
•    Carry out Issue Assurance audit to ensure effective resolution of audit findings and recommendations.
•    Perform periodic internal audit assessment and ongoing monitoring of internal audit performance.
•    Manage budgets and costs of all the activities which he/she is accountable.

6.    Leadership

•    Provide supervisory role to ensure full adherence to the audit process (preparatory phase, fieldwork, reporting and quality assurance).
•    Provide leadership to the department staff and supervise and manage their performance and development in line with the organization’s goals, objectives and policies.
•    Promote the highest standards of ethics and standards across the organization based on the principles of integrity, objectivity, competence and confidentiality.
•    Interaction with Group Business Heads and Country Business Head
•    Interface frequently with and may represent when solicited the GE-IAMS

QUALIFICATION AND EXPERIENCE

Background/Experience

•    At least 15 years of experience in a big 4 accounting firm with signatory on financial statements or in Financial Control and Regulatory Reporting
•    Excellent knowledge of IFRS, IAS and local GAAP
•    Knowledge of Basel II and III
•    Good understanding of Anti Money Laundry policies and Terrorist Financing  
•    Knowledge of the Regulatory environment across Africa
•    Excellent knowledge of banking/financial business operations
•    Excellent understanding of Risk Based Audit and ability to fully comply with IIA standards 
•    Solid understanding and ability to apply risk and control concepts
•    String listening skills and ability to identify gaps in logic – inquisitive 
•    Acts as a Team Player - Collaborate and supporting colleagues and peers across the organization, while still being able to work independently when needed. 
•    Demonstrate a positive, can-do attitude
•    Strong skills in negotiating, relationship building, problem solving, and timely problem escalation. 
•    Ability to manage projects and able to meet deadlines.
•    Detail oriented but able to quickly grasp the big picture 
•    High degree of personal initiative 
•    Proven track record of leadership and management in a complex, multi-affiliate environment.
•    Strong knowledge of IFRS, local regulatory requirements, and compliance best practices.
•    Proven experience in people management and leadership abilities

Qualifications

•    Master’s Degree in Related Field, or Equivalent Combination of Work Experience and Education. 
•    Professional certifications such as CPA, ACCA, CIA, or equivalent.
•    Not required, but a plus: MBA or other relevant advanced management degree

PERSONAL ATTRIBUTES

•    Strong leadership and team management skills.
•    High ethical standards and integrity.
•    Ability to work effectively under pressure and meet deadlines.
•    Strategic thinker with strong problem-solving capabilities.
•    Culturally sensitive and able to work effectively in a diverse, pan-African environment.
•    Excellent written and oral communication skills 
•    Excellent time management and organizational skills 
•    Good interpersonal skills.
•    Ability to work under pressure
•    Analytical and result oriented skills
•    Excellent analytical, communication, and interpersonal skills