Internal Audit and Compliance Officer

Student Housing Company - Proffering Accommodation solution to Higher institution students in Nigeria. We are into Construction and operations of the Hostels.

We are recruiting to fill the position below:

Job Title: Internal Audit & Compliance Officer

Location: Abuja (FCT)

Job Purpose

• Design, implement, and monitor internal control systems across construction projects and business operations. Therole focuses on preventingfinancial leakage, verifying material usage, enforcing procurement policies, and ensuring regulatory and contractual compliance.
• It also involves recommending improvementsto management, collaboratingwith stakeholders to supportbusiness growth, identifyingcontrol deficiencies, and promoting a culture of accountability and integrity.

Key Responsibilities
Site Operations & Material Controls:

• Material vs. Bill of Quantities (BOQ):Audit site fuel, cement, steel, sand, and aggregate consumption against approved engineering BOQs to detect shortages, waste, or pilferage.
• Physical Stock Counts:Conduct regular unannounced physical inventory counts at central warehouses and active project sites.
• Equipment & Asset Tracking:Maintain and verify the Fixed Assets Register (plant, machinery, and tools) and monitor equipment maintenance logs and diesel/fuel utilization.

Procurement & Subcontractor Management:

• Vendor & Subcontractor Vetting:Review new vendor/subcontractor onboarding, background checks, and contract pricing alignment.
• Site Purchases (Petty Cash/LPOs):Audit local site purchase orders, delivery notes, and goods received notes (GRNs) to ensure proper three-way matching (Invoice vs. PO vs. GRN).
• Variation Orders:Review project variation orders, extra work claims, and subcontractor interim payment certificates (IPCs) for accuracy and proper authorization.
• Stake Holder management:Liaise with external auditors, regulators, and other stakeholders during audits and inspections.

Financial & Payroll Controls:

• Payroll Verification:Audit site labor payroll, daily-rated worker attendance, overtime claims, and subcontractor labor headcounts to prevent "ghost workers".
• Expense Management:Review site petty cash reconciliations, travel advances, and operational float expenditures.

Compliance, Risk & Reporting:
Policy Designing:

• Develop and implement internal control frameworks, policies, and procedures to ensure compliance with regulatory requirements and industry standards.
• Evaluate the design and effectiveness of internal controls, including segregation of duties, access controls, and authorization processes.

Policy Review:

• Stay abreast of changes in regulations, laws, and industry standards related to internal controls and risk management.
• Perform internal audits, reviews, and testing procedures to assess the reliability and accuracy of financial and operational information
• Review and update Standard Operating Procedures (SOPs) for site logistics, storekeeping, and finance.
• Analyze data and trends to identify emerging risks and areas for improvement in internal control processes.

Policy Implementation & Enforcement:

• Monitor compliance with internal policies, procedures, and ethical standards, investigating and addressing violations as necessary.
• Monitor and track remediation efforts and action plans to address audit findings and control weaknesses.
• Provide training and guidance to employees on internal control principles, policies, and procedures.
• Contribute to the development and implementation of risk management strategies and initiatives to enhance organizational resilience and sustainability.

Segregation of Duties:

• Ensure proper separation between those who request materials, those who approve purchases, and those who receive goods on site.
• Collaborate with departmental managers and process owners to address control deficiencies and implement corrective actions.
• Participate in cross-functional teams and committees to support organizational initiatives and projects.

Fraud Investigations:

• Investigate anomalies, whistleblowing reports, or inventory discrepancies on sites and submit findings to management.
• Conduct risk assessments and internal control reviews to identify areas of potential risk, fraud, or non-compliance.
• Conduct investigations into suspected fraud, misconduct, or irregularities, and recommend appropriate actions and preventive measures.

Audit Documentation & Reporting:

• Document audit findings, observations, and recommendations in audit reports, and communicate results to management and stakeholders.
• Prepare monthly internal control exception reports and track the remediation of audit findings with project managers.

Qualifications & Requirements

• Education: Bachelor’s degree in Accounting, Finance, Economics, or a related field.
• Experience: 3 to 5 years of internal control, auditingor risk management rolesor financial compliance experience, ideally within the construction, engineering, or manufacturingsector.

Knowledge:

• Strong knowledge of construction accounting, BOQs, and inventory management.
• Proficiency in ERP systems (e.g., SAP, Sage, or QuickBooks) and advanced Excel.
• Strong knowledge of construction accounting, BOQs, and inventory management.
• Strong understanding of internal control principles, practices, and frameworks (e.g., COSO, SOX).

Certifications:

• Professional qualification or progress toward ACA, ACCA, CIA, CISA or CPA is an added advantage.

Required Skills:

• Internal auditing- Knowledge of auditing standards, regulatory requirements, and industry best practices.
• Attention to detail - Attention to detail and accuracy in auditing and documentation
• Communication skills- Excellent communication and interpersonal skills, with the ability to interact effectively with stakeholders at all levels
• Analytical abilities- Analytical and critical thinking skills to assess risks and evaluate control effectiveness
• Good use of auditing applications - Proficiency in audit tools and software, as well as Microsoft Office suite.
• Collaboration - Ability to work independently and collaboratively in a team environment
• Ethics and integrity- Integrity, professionalism, and ethical behavior in handling sensitive information and investigations
• Problem-solving skills – Ability to decipher a problem and recommend resolutions to keep the business profitable
• Risk assessment-Compliance management- Ability to draw up framework that ensures compliance to processes
• Investigation skills- Intuitive and investigation ability into processes and complaints for appropriate escalations and resolution.