Graduate Trainee – Internal Control Officers Job at ARM Life Plc
ARM Life is the insurance subsidiary of Asset & Resource Management Company Ltd (ARM). Its parent company, ARM is one of the largest non-bank financial services firms in Nigeria with a focus on asset management. Established in 1994, ARM started operations as a traditional asset management company specialising in the management of quoted equities and fixed income securities.
We are recruiting to fill the position below:
Job Title: Graduate Trainee – Internal Control Officer (ARM Non-Pension, FINCON, other shared services and Specialised funds)
Job Type: Full-Time
- The officer will be responsible for ensuring accuracy and reliability of transaction data captured within Operations Unit.
- In addition, the officer will device and maintain s system of control sufficient to provide reasonable assurances on relevant company and clients’ related transactions.
- The Internal Control unit would cover transactions processed by ARM.
Principal Duties and Responsibilities
- Ensure that all transactions on behalf of clients and companies are properly processed and captured in the relevant applications by carrying out daily call over procedures.
Within this duty:
- Reconcile daily equity trades effected on the CSCS platform with those booked on the portfolio management system (PMS) and the stock broking application (SBA). Ensure that the relevant accounts/portfolios are debited/credited depending on the nature of the trade.
- Reconcile all cash transactions and investments in fixed income instruments – such as money market and bond instruments
- On the first two bullet points above, reconcile periodically all holdings with ARM’s custodian with regard to the assets held by the custodians on behalf of the firm
- Create and update an issue log report periodically when there is any reconciliation gap. Follow through with the resolution of the gaps and provide relevant documentation on the resolutions
- Review bank reconciliations carried out by Financial Control and ensure that all relevant Operations’ reconciling issues are promptly resolved.
- Regularly compare recorded assets with actual assets
- Carry out periodic reconciliation of clients’ portfolio holdings with relevant registrars’ record to ensure that the PMS and CSCS records corresponds with the Registrars’ position
- Compare loans transactions on the PMS with the relevant terms in the loan agreements; in addition, periodically confirm loan details i.e. repayment/value from borrowers, especially for intercompany loans
- Periodically review processes within the Operations units to identify areas with weak controls and recommend suitable measures to mitigate risk exposures.
- Ensure transactions are authorised by relevant personnel
- Review and confirm accuracy of the prices of all the unitized schemes (including the ARM mutual funds) before they are sent out to the public and clients via the firm’s website or email correspondence
- Provide weekly report on reconciliation and control activities.Effectively ensure the implementation of recommendations raised by the external auditors and the internal auditors during their various audit exercise.
- Perform any other jobs assigned
- Minimum – B.A., B.Sc
Required Knowledge, Skills and Abilities:
- Good administrative and organizational skills
- Strong analytical skills
- High attention to detail and a pursuit to constantly improve current processes and procedures
- Good interpersonal relationship skills
Professional Requirements & Work Experience:
- Demonstrate good knowledge of accounting principles, financial markets and instruments (Preferably an accounting graduate)
- Maximum two years work experience
Application Closing Date
7th March, 2018.
Method of Application
Interested and qualified candidates should:
Click here to apply online