Internal Control Officer – E-Channels

Job Summary

The Internal Control Officer for E-Channels is responsible for ensuring compliance with transaction settlement processes, revenue collection, and reconciliation of electronic transactions. The role includes monitoring E-Channels operations, preventing income leakages, and ensuring alignment with regulatory standards and industry best practices.

Job Details

Key Responsibilities

1. E-Channels Settlement & Reconciliation

• Ensure daily and timely remittance/settlement of transactions to prevent income leakage.
• Review and reconcile settlement transactions for NIBSS, Mastercard, Interswitch, NIP, VISA, and other E-Channels platforms.
• Ensure correctness and completeness of financial entries related to E-Tranzact, Unified Payments, and other third-party processors.
• Escalate settlement discrepancies and follow up for resolution.

2. Revenue Collection Monitoring

• Review Pay-Direct, E-Pay, and other revenue collection applications.
• Verify remittances of collections on behalf of billers.
• Ensure correct accounting entries for collections and remittances.
• Monitor fees and commissions to prevent income leakages.

3. E-Banking & Online Transactions Review

• Review WemaPay, PayDirect, and other electronic banking platforms for compliance.
• Monitor salary payments, vendor transactions, and pension remittances via electronic channels.
• Ensure proper authorization and segregation of duties for online transactions.
• Identify and mitigate fraud risks related to electronic transactions.

4. POS & ATM Operations Control

• Ensure compliance with POS and ATM transaction policies.
• Monitor in-branch POS transactions for accuracy and fraud prevention.
• Review ATM cash settlement and monitor aged unresolved ATM surplus account entries.
• Ensure timely reconciliation of ATM transactions and exception resolution.

5. Instant Card Issuance & Management

• Review instant card issuance processes to ensure proper authorization and compliance.
• Verify stock of blank cards and ensure adequate record-keeping.
• Monitor the issuance of cards to prevent fraud and impersonation.
• Ensure necessary fees and charges are correctly applied.

6. Security & Risk Management in E-Channels

• Monitor unauthorized processing of transactions on Wema Online & Mobile platforms.
• Ensure strong authentication and non-repudiation controls.
• Review data security measures and ensure compliance with information security policies.
• Conduct periodic reviews to assess risks related to e-banking operations.

7. Regulatory Compliance & Reporting

• Ensure adherence to CBN guidelines on e-payment channels.
• Generate exception reports on non-compliant transactions and escalate appropriately.
• Ensure audit trails and proper documentation of all electronic transactions.
• Provide reports and analysis on control measures for management and regulatory authorities.

Critical Success Factors

• Availability and uptime of core banking systems (Finacle, NIBSS, Interswitch, E-Tranzact, etc.).
• Strong understanding of electronic payment systems and reconciliation processes.
• Ability to detect anomalies in settlement and revenue collection reports.
• Knowledge of regulatory requirements for e-banking transactions.
• Strong analytical and reporting skills.

Requirements

• Bachelor’s degree in Accounting, Finance, Information Technology, or a related field.
• Minimum of 3-5 years of experience in e-banking operations, internal control, or transaction monitoring.
• Professional certifications such as CISA, ACA, ACCA, or CBN-related certifications are an advantage.
• Experience with banking reconciliation tools and financial transaction monitoring.

Benefits

Healthcare

Staff Gym

Creche

Parental Leave (Paternity and Maternity)

Year-End Bonus (13th month)

Leave and Passage

About Company

Wema Bank

https://www.wemabank.com

Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and one of Nigeria’s most resilient banks. With decades of experience in the business of banking, the Bank has remained innovative in delivering value to its stakeholders. The publicly quoted Nigerian company has successfully built a legacy of trust and resilience that has won it the loyalty of its customers. The Bank is constantly introducing products and services tailored to the needs of its customers at every stage of their lives. It is a proud partner to more than one million individuals, families and businesses across Nigeria, helping them to achieve their personal and financial goals.