The Role
Lead design and execution of enterprise risk management, internal audit, and compliance frameworks for a growing microfinance bank. Oversee credit, operational, liquidity, market, compliance, and reputational risk; run audits, stress tests, regulatory reporting, and remediation. Act as Compliance and AML/CFT Reporting Officer, coordinate CBN examinations, prepare Board-level reporting, and build scalable controls and processes to support transition to a National MFB license.
Summary Generated by Built In
Hiring – Head of Risk, Audit & Compliance
Location: Enugu
Our client is a recently acquired microfinance bank, positioned for accelerated growth and operational transformation. It operates as a digital wealth management platform designed to facilitate seamless saving, investment, and financial management in one place.
The Company is seeking an experienced Head of Risk, Audit, and Compliance to lead the design, implementation, and oversight of the Bank's enterprise risk management, internal audit, and regulatory compliance frameworks. The successful candidate will ensure that the Bank operates safely, profitably, and in strict adherence to CBN Guidelines for MFBs and all applicable Nigerian laws. Central to this mandate is the development of scalable structures and controls required to support the Bank's strategic transition to a National MFB license within the next five years. This role involves close collaboration with the MD/CEO, CFO, and Head of Operations, while providing essential support to the Board Risk and Audit Committee.
Key Responsibilities:
- Develop and maintain the Risk Management Framework, risk appetite statement, and enterprise risk register in line with CBN MFB Guidelines and Prudential Guidelines, ensuring scalability for National license operations.
- Identify, assess, and monitor key risks — credit, operational, liquidity, market, compliance, strategic, and reputational — across all branches and business lines.
- Conduct periodic stress testing and scenario analysis on growth, branch expansion, and new product initiatives; present findings and recommendations to Management and the Board Risk Committee.
- Maintain credit risk policies covering underwriting standards, concentration limits (by product, sector, geography, and obligor), portfolio quality monitoring (PAR, NPLs, roll rates, recoveries), and CBN-compliant provisioning and write-off processes.
- Develop and implement a risk-based internal audit plan covering all branches, business lines, and support functions; ensure independent, objective execution and timely reporting of findings to Management and the Board Audit Committee.
- Conduct periodic audits of financial controls, credit processes, branch operations, IT systems, and compliance with internal policies and CBN regulations.
- Track and report on the status of all audit findings; ensure management responses are adequate and that agreed remediation actions are implemented within committed timelines.
- Support external audits and CBN examination processes, coordinating management responses and driving timely closure of all findings.
- Monitor and ensure full compliance with all applicable regulatory requirements including CBN MFB Guidelines, Prudential Guidelines, BOFIA 2020, AML/CFT Regulations, KYC/CDD requirements, CBN Consumer Protection Framework, and NDPA 2023.
- Act as the Bank's designated Compliance Officer and AML/CFT Reporting Officer, overseeing Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), sanctions screening, transaction monitoring, and filing of STRs and CTRs to the NFIU.
- Coordinate all CBN regulatory examinations and inspections; ensure timely, accurate regulatory reporting and proactive closure of all regulatory findings.
- Proactively track and prepare for National MFB license requirements covering risk governance, capital adequacy, and enhanced compliance standards.
- Design and maintain a standardized internal control framework replicable across all existing and new branches.
- Develop, update, and enforce risk, compliance, and operational policies, SOPs, and process manuals; conduct periodic spot checks and branch visits to verify consistent implementation.
- Review new products, channels, and expansion initiatives for risk, control, and regulatory compliance implications, providing clear advisory input before launch.
- Prepare and present comprehensive risk, audit, and compliance reports to Management and the Board/Board Committees; support the effective functioning of the Management Risk Committee, Credit Committee, and ALCO.
- Provide risk and compliance input strategic planning, particularly around branch expansion, product diversification, digital channels, and the National license transition roadmap.
- Develop and deliver regular training on risk management, AML/CFT, KYC, and internal controls; promote a strong culture of compliance, ethics, and risk ownership at all levels.
Requirements
- Bachelor's degree in Finance, Accounting, Economics, Business Administration, Law, or Risk Management.
- Relevant professional certifications are a strong advantage: CRMS or CBN-recognized risk certification, ACA/ACCA, ACAMS or equivalent AML/CFT certification, CIA, or CISA.
- Minimum of 7–10 years of progressive experience in risk management, internal audit, compliance, or internal control within a Nigerian financial institution; Microfinance Bank or retail bank experience strongly preferred.
- Demonstrated experience designing or significantly upgrading risk, audit, and compliance frameworks in a growing or multi-branch environment.
- Strong working knowledge of CBN regulations for MFBs, including the distinction between State and National MFB license requirements.
- Strong grasp of enterprise risk management across credit, operational, liquidity, market, compliance, and reputational risk dimensions.
- Sound credit analysis and portfolio management skills in micro, SME, and retail lending contexts.
- Excellent analytical, investigative, and problem-solving abilities; high integrity and independence of judgment.
- Ability to build scalable processes, controls, and frameworks and influence senior management and cross-functional teams.
- Strong written and verbal communication skills, including Board-level reporting.
Benefits
Highly Competitive
Skills Required
- Bachelor's degree in Finance, Accounting, Economics, Business Administration, Law, or Risk Management
- Minimum 7-10 years progressive experience in risk management, internal audit, compliance, or internal control within a Nigerian financial institution (microfinance or retail bank preferred)
- Demonstrated experience designing or significantly upgrading risk, audit, and compliance frameworks in growing or multi-branch environments
- Strong working knowledge of CBN regulations for MFBs, including State vs National license requirements and Prudential Guidelines
- Enterprise risk management expertise across credit, operational, liquidity, market, compliance, and reputational risks
- Sound credit analysis and portfolio management skills for micro, SME, and retail lending
- Experience acting as Compliance Officer and AML/CFT Reporting Officer, including CDD/EDD, sanctions screening, transaction monitoring, and STR/CTR filing
- Ability to build scalable processes, controls, and frameworks and influence senior management
- Excellent analytical, investigative, problem-solving skills, high integrity, and independence of judgment
- Strong written and verbal communication skills, including Board-level reporting
- Professional certifications (CRMS or CBN-recognized risk certification, ACA/ACCA, ACAMS or equivalent, CIA, or CISA)
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The Company
What We Do
Dunn and Braxton is an international management consulting firm that provides bespoke recruitment, talent outsourcing, and HR support services to help business owners and founders meet their human capital needs. Based in Nigeria, they aim to be a trusted talent solution provider in Africa, enabling companies to optimize productivity and focus on core innovation by managing their non-core human resource functions.
