Job Title Manager, Financial Auditing, Regulatory Reporting & Compliance
Reports to Group Lead, Financial Auditing, Regulatory Reporting & Compliance
Location TBC
JOB PURPOSE
The Group Manager, Financial Auditing, Regulatory Reporting & Compliance will manage the financial control, audit operations, regulatory reporting, and compliance functions within the Group. This role is responsible for executing financial, regulatory, and compliance audits in line with established audit methodologies and International Standards (IIA). The Group Manager will support senior management by assessing capital adequacy, liquidity management, and ensuring timely regulatory reporting in compliance with local and international laws.
JOB CONTEXT
The individual in this role will need to demonstrate integrity, objectivity, and attention to detail, while fostering collaborative relationships with key stakeholders. They will oversee day-to-day compliance operations, financial auditing processes, and regulatory reporting to safeguard the integrity of the financial controls across the organization.
KEY RESPONSIBILITIES
1. Financial Control
Policy Framework and implementation
• Assist in the development of financial control frameworks, ensuring that financial statements are accurate and comply with IFRS, IAS, and local GAAP standards across all affiliates.
• Collaborate with relevant teams to ensure consistency and accuracy in financial reporting throughout the organization.
Audit Programs:
• Develop and implement comprehensive financial audit programs and testing procedures, ensuring compliance with internal and external financial regulations.
• Regularly evaluate and enhance audit processes to identify opportunities for increased efficiency.
Internal Control System
• Monitor the effectiveness of internal controls across the organization, ensuring that assets are safeguarded and financial transactions remain accurate.
• Continuously assess and improve internal control systems to address any weaknesses and ensure financial integrity.
2. Financial Auditing Responsibilities
Risk Assessment
• Conduct thorough risk assessments to identify financial, operational, and compliance risks within the group.
• Develop risk-based audit programs to address identified risks and ensure effective management of those risks.
• Provide strategic oversight of the group’s risk assessment framework, ensuring it aligns with current accounting, tax, and regulatory standards.
Audit Reviews and Findings
• Review audit findings from affiliate audit teams, providing guidance and support to ensure recommendations are practical and aligned with best practices.
• resent audit findings to senior management and the board, highlighting key risks and recommending corrective actions.
• Review balance sheets, trial balances, tax computations, and fixed asset reconciliations to ensure accuracy and compliance.
Audit Quality Assurance
• Develop and maintain a quality assurance framework for audit activities, ensuring audits meet professional standards and deliver value to the organization.
• Periodically conduct peer reviews to ensure consistency and quality in audits across affiliates.
• Promote audit excellence by integrating IIA standards and utilizing automation tools for improved audit effectiveness.
Follow-up and Monitoring
• Establish a robust monitoring system to ensure timely resolution of audit issues, with clear escalation triggers to senior management and the Board.
• Track the implementation of audit recommendations and ensure corrective actions are completed on time.
Continuous Improvement
• Foster a culture of continuous improvement by leveraging industry best practices and adopting new technologies to enhance audit effectiveness.
• Stay updated on regulatory changes and industry trends to incorporate relevant developments into the audit strategy.
3. Regulatory Reporting Responsibilities
Regulatory Compliance
• Ensure compliance with all relevant financial regulations, laws, and industry standards across the group and its affiliates.
• Keep abreast of changes in regulations and advise management on necessary adjustments to maintain compliance.
• Assess and ensure compliance with statutory and tax requirements across the group.
Report Preparation and Submission
• Oversee the preparation and submission of regulatory reports to local and international authorities, ensuring accuracy and timeliness.
• Coordinate with affiliates to ensure consistency and accuracy in the reports submitted.
Stakeholder Engagement
• Build and maintain strong relationships with regulatory bodies to facilitate communication and effective resolution of any compliance-related issues.
• Serve as the primary contact for regulatory audits and inquiries.
4. Compliance Management Responsibilities
Compliance Program Development
• Develop and implement a comprehensive compliance program that includes policies, procedures, and training initiatives.
• Promote a culture of compliance throughout the organization, ensuring that compliance policies are well communicated and understood across 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.
Training and Awareness
• Conduct regular training sessions to ensure that all staff are aware of their compliance responsibilities and understand the importance of adhering to regulations.
• Develop and distribute compliance-related communications to reinforce the organization’s commitment to ethical conduct and regulatory adherence.
5. Audit Planning and Execution
• Develop and oversee the execution of the annual audit plan, ensuring that 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 are followed.
• Ensure the audit plan is executed on time and that audit reports are submitted promptly.
• Conduct periodic assessments of audit performance and address any issues that arise in the process.
6. Leadership
• Provide leadership and oversight to ensure adherence to the audit process, including preparation, fieldwork, reporting, and quality assurance.
• Supervise, manage, and mentor audit department staff, supporting their performance and development in line with organizational goals.
• Promote the highest standards of integrity, objectivity, and confidentiality across the organization.
• Regularly engage with Group Business Heads and Country Business Heads, and represent the team as needed in interactions with senior leadership.
QUALIFICATION AND EXPERIENCE
Background/Experience
• Some 5 years of experience in financial auditing, regulatory reporting, or compliance, preferably within a large financial institution or Big 4 firm.
• Strong knowledge of IFRS, IAS, and local GAAP, with practical application in financial reporting.
• In-depth understanding of Basel II/III and key regulatory frameworks affecting the banking sector.
• Experience with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) policies.
• Familiarity with the regulatory environment across African markets.
• Solid understanding of banking operations and risk-based auditing, in compliance with IIA standards.
• Strong analytical and communication skills, with the ability to provide actionable insights.
• A collaborative team player, able to work independently when required.
• Proven project management skills and the ability to handle multiple priorities and deadlines effectively.
• Demonstrated leadership ability in a multi-affiliate environment, with a focus on compliance and financial controls.
Qualifications
• A Bachelor’s or Master’s Degree in Accounting, Finance, or a related field.
• Professional certifications such as CPA, ACCA, CIA, or equivalent.
• An MBA or advanced management degree is a plus but not required.
PERSONAL ATTRIBUTES
• A natural leader who can motivate and guide teams to success while fostering collaboration.
• Holds high ethical standards and integrity, always ensuring transparency and trust in every action.
• Works well under pressure, managing deadlines without compromising quality.
• A strategic thinker with a knack for problem-solving, always looking for creative solutions to challenges.
• Culturally aware and thrives in diverse, pan-African environments, adapting to varying perspectives and working styles.
• Excellent at communicating, both in writing and speaking, ensuring clarity and understanding across all levels.
• Great at managing time and staying organized, ensuring that tasks are completed efficiently and on schedule.
• Has a strong ability to connect with others, building positive relationships across teams and stakeholders.
• Analytical and goal-oriented, always focused on achieving results and finding ways to improve.
