The Internal Control Lead job at FairMoney offers a strategic opportunity for experienced banking professionals to strengthen internal systems and ensure compliance within a fast-growing digital financial institution. This role is based in Lagos and operates under a hybrid work structure, combining both on-site and remote responsibilities.
FairMoney, a digital-focused microfinance bank, continues to expand its financial services across emerging markets. As part of this growth, the company is seeking a qualified Internal Control Lead to oversee risk management, compliance, and operational integrity.
Overview of FairMoney and Its Operations
FairMoney is a financial technology-driven microfinance bank that began as a mobile lending platform. Over time, it has expanded its offerings to include:
- Current accounts
- Savings products
- Debit card services
The company operates across several regions, including West Africa and parts of Southeast Asia. Its focus is on providing accessible and scalable banking solutions through digital platforms.
The Internal Control Lead job at FairMoney plays a central role in maintaining trust, compliance, and operational consistency across these services.
Job Details and Work Structure
Employment Information
- Job Title: Internal Control Lead
- Location: Lagos
- Employment Type: Full-time (Hybrid)
The hybrid structure allows for a balance between office-based responsibilities and remote work, depending on operational needs.
Core Responsibilities of the Internal Control Lead
The role involves overseeing internal control systems, identifying risks, and ensuring compliance with financial regulations. Below are the key areas of responsibility.
Continuous Transaction Monitoring
The Internal Control Lead is expected to regularly review financial activities to detect irregularities.
Key tasks include:
- Conducting daily, weekly, or periodic transaction reviews
- Monitoring branch and operational activities
- Identifying unusual patterns or inconsistencies
This function is critical to maintaining financial accuracy and preventing fraud.
Risk Assessment and Management
Risk identification is a major component of the Internal Control Lead job at FairMoney.
Responsibilities include:
- Mapping operational and technological risks
- Evaluating potential compliance issues
- Implementing preventive measures against financial loss
Regulatory and Policy Compliance
Ensuring adherence to regulatory standards is essential in the banking sector.
The role involves:
- Enforcing compliance with AML and CFT regulations
- Aligning operations with central bank directives
- Ensuring internal policies are consistently applied
Transaction Spot Checks and Reviews
The Internal Control Lead conducts independent checks on transactions across various channels.
These include:
- General ledger postings
- Card transactions
- ATM and POS activities
Such checks help verify the accuracy and integrity of financial records.
Process Improvement and Reporting Duties
Improving internal processes is a continuous responsibility tied to this position.
Identifying Control Gaps
- Analyze existing systems for weaknesses
- Detect inefficiencies in operational workflows
- Highlight areas requiring improvement
Reporting and Follow-Up
- Prepare detailed reports on findings
- Recommend corrective actions
- Monitor implementation of improvements
The Internal Control Lead job at FairMoney requires consistent follow-up to ensure that identified issues are resolved effectively.
Asset Safeguarding Responsibilities
Another important aspect of the role involves protecting the bank’s physical and financial assets.
Asset Verification
- Conduct periodic physical checks of assets
- Ensure proper documentation and tracking
- Prevent misuse or loss of company resources
This function supports accountability and operational transparency.
Requirements for the Internal Control Lead Role
Candidates applying for the Internal Control Lead job at FairMoney must meet specific educational and professional criteria.
Educational Qualifications
- Minimum of a Bachelor’s degree
- Master’s degree in Accounting, Finance, or Economics is preferred
Professional Certifications
- Certifications such as ICAN or ACCA are preferred
- These qualifications demonstrate advanced knowledge in accounting and financial management
Work Experience
- At least 7 years of banking experience
- Prior experience in internal control or related roles
This level of experience ensures familiarity with complex financial systems and regulatory frameworks.
Essential Skills and Competencies
To succeed in the Internal Control Lead job at FairMoney, candidates must possess a combination of technical and interpersonal skills.
Technical Skills
- Proficiency in Microsoft Office tools, especially Excel
- Strong analytical and reporting abilities
- Understanding of financial systems and controls
Behavioral Competencies
- High ethical standards and professionalism
- Ability to handle confidential information discreetly
- Strong problem-solving skills
- Ability to work independently and within teams
These competencies are critical for maintaining integrity and efficiency in financial operations.
Application Process for Interested Candidates
Candidates interested in the Internal Control Lead job at FairMoney are required to apply online through the official application channel.
How to Apply
- Visit the official application portal
- Submit required details and documents
- Ensure all information is accurate and complete
Application Deadline
- Not specified
Applicants are encouraged to apply promptly, as roles like this may close once suitable candidates are identified.
Importance of Internal Control Roles in Banking
Internal control positions are essential in modern banking systems, particularly in digital finance environments.
Why Internal Control Matters
- Prevents fraud and financial irregularities
- Ensures compliance with regulatory standards
- Enhances operational efficiency
- Protects organizational assets
The Internal Control Lead job at FairMoney contributes directly to maintaining a secure and compliant banking environment.
Frequently Asked Questions (FAQ)
What is the role of an Internal Control Lead at FairMoney?
The role involves monitoring transactions, assessing risks, ensuring compliance, and improving internal control systems within the organization.
What qualifications are required for the Internal Control Lead job at FairMoney?
A Bachelor’s degree is required, while a Master’s degree and professional certifications like ICAN or ACCA are preferred.
How many years of experience are needed for this role?
Candidates must have at least 7 years of banking experience, preferably in internal control or related positions.
Is the Internal Control Lead role at FairMoney remote or office-based?
The position is hybrid, combining both remote and on-site work in Lagos.
Conclusion
The Internal Control Lead job at FairMoney presents a structured opportunity for experienced professionals in banking and finance to contribute to a growing digital financial institution. With responsibilities spanning risk management, compliance, and operational improvement, the role is suited for individuals with strong analytical skills and a commitment to maintaining financial integrity. Interested candidates should review the requirements carefully and proceed with the application through the official channel.
How to Apply
Interested and qualified candidates should:
Click here to apply online
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