The Controls & Compliance Officer role is crucial for developing, implementing, and maintaining effective internal controls and compliance programs. The primary objective is to ensure strict adherence to relevant regulations, industry standards, and internal policies. The successful candidate will leverage a strong understanding of risk management principles and internal control frameworks to safeguard the organization's assets and reputation.
Areas of Responsibility
1. Internal Controls Management
- Design, implement, and continuously monitor internal control systems across various departments and processes.
- Conduct regular reviews and assessments of existing controls to proactively identify weaknesses and recommend necessary improvements.
- Develop and consistently update internal control policies and procedures.
- Provide essential guidance and training to staff on internal control best practices.
2. Regulatory Compliance
- Stay comprehensively updated on relevant laws, regulations, and industry standards that affect the organization's operations.
- Interpret and effectively communicate regulatory requirements to relevant stakeholders across the business.
- Develop and implement comprehensive compliance policies and procedures.
- Conduct compliance risk assessments and develop robust mitigation strategies.
- Ensure the timely submission of all required regulatory reports.
3. Risk Management
- Assist in identifying, assessing, and mitigating operational and compliance risks. This includes a specific focus on high-risk areas identified through fraud cases (e.g., inventory and fuel usage).
- Develop and maintain a comprehensive risk register, accurately tracking risk exposure and mitigation efforts.
- Collaborate closely with various departments to successfully embed risk management practices into daily operations.
4. Audits and Investigations
- Act as the primary liaison with internal and external auditors during control and compliance audits, specifically coordinating with Internal Audit regarding control effectiveness.
- Coordinate management's responses to audit findings and ensure the timely implementation of corrective actions.
- Conduct internal investigations into alleged compliance breaches or control failures (e.g., fraud and theft cases).
- Perform physical spot checks and stock counts as specifically recommended for the Kenya-based role.
5. Reporting
- Prepare regular reports on the effectiveness of internal controls and compliance programs for presentation to senior management and the board.
- Track and report on key risk indicators and compliance metrics, specifically quantifying the financial impact resulting from improved controls.
Qualifications and Experience
Education & Certification:
- Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
- Professional Certification in Accounting (e.g., CPA, ACCA, or CIMA) is required.
- Certification in Internal Audit (e.g., CIA) or Compliance (e.g., CCEP) is a strong advantage.
Experience:
- Experience in internal controls, compliance, risk management, or audit, preferably within a regulated industry.
- Proven experience in designing and implementing internal control frameworks.
- Strong understanding of regulatory environments and compliance requirements.
