Internal Controls and Quality Officer

The Internal Controls Officer is responsible for ensuring a robust internal control environment within the organization. This includes leading the Audit Programme, serving as the chief liaison with internal and external auditors, and monitoring the implementation of audit recommendations.

1. Monitoring Audit Recommendations:
• Track and monitor the implementation of audit recommendations, ensuring timely resolution of identified issues.
• Own the closure of gaps and implementation of improvement opportunities based on reports prepared by Internal and External Auditors or from past learnings by formulating and implementing actions to resolve, reduce and or eliminate gaps; or to capitalize on opportunities for improvement.
• Monitor the findings of internal and external audits to determine whether VMWM is taking appropriate steps to address current and prior control deficiencies and provide updates on the improvement of Management controls designed to safeguard VMWM’s assets and resources.
• Regularly update senior management and relevant stakeholders on the status of audit recommendations.
• Provide guidance and support to business units in addressing audit findings.
2. Internal Controls Environment:
• Evaluate and make recommendations to enhance the organization’s internal control framework to mitigate risks effectively.
• Develop and implement control policies and procedures to ensure compliance with regulatory requirements and organizational standards.
• Conduct periodic risk assessments to identify and address potential vulnerabilities in processes.
• Conduct reviews of Off-Balance Sheet Assets and Liabilities for including the verification of Off-Balance Sheet assets and liabilities due to the clients.
• Conduct reviews of the internal controls surrounding the operations of product for both On and Off-Balance Sheet clients. Including a review of the controls in place for team accounts.
3. Quality Assurance and Defect Testing:
• Lead quality assurance initiatives to assess the accuracy, completeness, and effectiveness of internal processes within VMWM & VMIL.
• Perform defect testing to identify and remediate process inefficiencies or control weaknesses.
• Ensure the organization’s operational and financial processes align with best practices and established standards.
4. Documentation of Business Processes and Procedures:
• Responsible for the documentation of business processes and procedures across business units within VMWL and VMIL.
• Collaborate with the Internal Controls Lead on ensuring procedures are documented and/or updated based on the results of internal control activities.

• Support the development and implementation of new products, policies, and procedures, including documentation derived from changes in the internal and external environments.

• Ensure that business processes and procedures are comprehensive, up-to-date, and accessible to relevant stakeholders.
4. Collaboration and Training:
• Work closely with cross-functional teams to promote a culture of compliance and strong internal controls.
• Provide training and guidance to employees on internal controls, audit processes, and risk management.

Foster open communication to address control-related concerns and ensure continuous improvement.