Senior Internal Control Officer Full Time NEW

Named after ZamZam Holy Water, which gave life to Makkah’s barren land, ZamZam Bank is dedicated to driving sustainable economic growth. With a vision to become Africa’s leading Shari’ah-compliant and inclusive bank by 2030, we provide full-fledged interest-free, affordable, and effective financial services to individuals and organizations, while promoting stability and access through our expanding branch network.

Our reputation rests on pioneering financial inclusiveness, unwavering Shari’ah compliance, strong networks, innovative leadership, advanced systems, and international recognition.

We are seeking talented individuals to join our journey of sustainable growth and enhanced financial inclusion, especially for communities excluded from the financial system due to religious or other barriers. Could this be you?

Your profile

Whether you want a career as a visionary professional banker in full-fledged interest free banking sector, or need to make sure that your earning is from halal source or second our cause towards ensuring sustained economic empowerment & stability through financial inclusiveness, we offer you these possibilities within the Internship Programme.

Job Purpose

The Senior Internal Control Officer is responsible for establishing, implementing, and monitoring effective internal control practices at branch level to ensure that branch operations are conducted in compliance with the Bank’s policies, procedures, regulatory requirements, Shariah principles, and approved risk management frameworks.

The position provides independent control oversight over branch activities, identifies control weaknesses and operational risks, follows up corrective actions, and supports the branch in maintaining sound, efficient, compliant, and well-controlled operations.

 Key Responsibilities and Duties

A. Internal Control Monitoring

• Conduct regular reviews of branch operations to assess compliance with approved policies, procedures, guidelines, and delegated authorities.
• Review branch transactions, processes, and supporting documents to identify errors, irregularities, control weaknesses, and potential operational risks.
• Ensure appropriate segregation of duties, authorization, verification, and supervisory controls are maintained.
• Monitor compliance with approved branch limits, operational controls, and authorization levels.
• Conduct surprise and periodic control checks as assigned.
• Review cash, vault, ATM, teller, and other operational controls in accordance with established procedures.
• Monitor the proper handling and safeguarding of cash, documents, keys, security instruments, and other Bank assets.

B. Compliance and Regulatory Control

• Monitor branch compliance with applicable National Bank of Ethiopia requirements and other relevant regulatory directives.
• Ensure branch operations comply with the Bank’s internal policies and procedures.
• Monitor compliance with Shariah/Interest-Free Banking requirements applicable to branch operations.
• Identify and report instances of non-compliance to the appropriate authority.
• Support implementation of regulatory and internal control recommendations.

C. Risk Identification and Management

• Identify operational, financial, compliance, fraud, and process-related risks within branch activities.
• Assess the adequacy and effectiveness of existing controls.
• Maintain a branch-level control and risk monitoring checklist/register.
• Escalate significant control deficiencies and emerging risks promptly.
• Recommend appropriate preventive and corrective controls.
• Follow up on identified risks until appropriate mitigation actions are completed.

D. Transaction and Document Review

• Review selected transactions and supporting documents based on risk-based sampling.
• Verify proper authorization and documentation of financing, deposits, withdrawals, transfers, expenses, and other branch transactions.
• Review customer account opening and maintenance documentation for completeness and compliance.
• Monitor proper implementation of KYC, AML/CFT, and customer due diligence requirements.
• Review suspense accounts, outstanding items, exception reports, and other control-sensitive accounts as assigned.

E. Fraud Prevention and Detection

• Monitor branch activities for indicators of fraud, misconduct, manipulation, or unusual transactions.
• Strengthen preventive controls to reduce opportunities for fraud and operational losses.
• Immediately report suspected fraud, serious control breaches, or irregularities through the appropriate reporting channel.
• Support investigations and fact-finding activities when formally assigned.
• Maintain confidentiality of sensitive control and investigation information.

F. Control Reporting and Follow-Up

• Prepare periodic branch internal control reports
• Track implementation of corrective actions and recommendations.
• Escalate overdue or unresolved high-risk findings.
• Maintain proper documentation and evidence of control activities.
• Provide management with timely information on significant control issues.

G. Branch Advisory and Staff Awareness

• Provide guidance to branch employees on internal control requirements and proper procedures.
• Conduct brief awareness sessions on identified control weaknesses and recurring operational errors.
• Promote a strong internal control and risk-awareness culture within the branch.
• Advise branch management on practical measures to strengthen controls without unnecessarily disrupting customer service.

H. Coordination and Audit Support

• Coordinate with Internal Audit, Risk & Compliance, Shariah Compliance, Finance, Operations, and other relevant functions when required.
• Facilitate internal and external audit activities by providing requested documents and information.
• Follow up audit findings relevant to the branch.
• Support timely implementation of audit recommendations.

Avoid duplication of responsibilities between internal control, internal audit, and operational management while maintaining appropriate independence.

Place of work: Addis Ababa Branches

Salary: As per the Bank’s salary scale and attractive benefit packages.

Gender: Male/Female

Quantity: 5

Minimum qualification and work experience:

• BA Degree in Economics, Management, Accounting or other Business related fields
• 4 years of banking experience respectively of which 2 years as Auditor/Internal Control Officer