Fatai Aremu, ACA, DCP, CRM

Experience

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  New Vision Microfinance Bank

  Sept 2007 - Nov 2009

  Accounts Officer

  • Updated general ledger of accounts with current, accurate and industry-compliant data to meet all internal and external audit requirements• Organized budget documentation and tracked expenses to maintain tight business controls• Analyzed figures, postings and documents to maintain accounting program accuracy• Identified and suggested remedies for areas of improvement based on detailed daily reports and analysis• Streamlined daily reporting information entry for efficient record keeping purposes Show less

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  New vision Microfinance Bank

  Aug 2013 - Mar 2014

  Internal Auditor

  • Performed internal audits of financial and departmental operations, developing risk assessments and conducting process walk through to ensure compliance with documented processes• Developed auditing program to address risks and evaluate regulatory requirements• Prepared suitable reports on risk and information gleaned from audits and distributed to appropriate personnel• Produced audit reports which comprised evaluation of internal control systems• Reviewed and identified risks, analysed controls and tested compliance• Documented recommendations to improve internal controls• Recommended new methods to improve internal controls and operating efficiency Show less

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  Wema Bank Plc

  Mar 2014 - Nov 2020

  Branch Service Associate

  • Managed daily cash operations, cash balancing, account opening, and fixed deposits, in compliance with regulatory requirements and bank policies.• Responsible for ATM cash replenishment, conducting daily reconciliations to ensure accurate cash flow and uninterrupted service availability.• Delivered excellent customer service by addressing inquiries, resolving account issues, and ensuring a positive banking experience.• Processed local fund transfers, outward clearing cheques, bank drafts, and manager’s cheques, ensuring timely and accurate transactions while adhering to regulatory requirements.• Maintained strict financial control by processing accurate fund transfers and managing branch expenses in accordance with bank policies and financial reporting standards.• Processed tax collections and managed the sale of Personal and Business Travel Allowances (PTA/BTA) to customers, ensuring compliance with CBN guidelines. Show less

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  Yes Microfinance Bank Limited

  Dec 2020 - May 2022

  Head Risk, Control and Compliance

  • Promoted enterprise-level risk management practices and fostered a culture focused on strong protective policies and procedures.• Designed and implemented comprehensive risk management processes tailored to the organization’s needs.• Increased risk awareness among staff by offering support and conducting training sessions across the organization.• Developed and managed an effective compliance program to ensure operations aligned with regulatory requirements.• Regularly reviewed company procedures, practices, and documents to identify potential weaknesses or risks, recommending appropriate improvements. Show less

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  LAGOS BUILDING INVESTMENT COMPANY PLC

  Jun 2022 - Feb 2024

  Chief Risk and Compliance Officer

  • Coordinated and supported compliance operations across the bank, providing expertise and guidance on compliance matters, and advising on policy and strategic decisions with potential compliance implications.• Ensured timely submission of accurate compliance reports to regulatory agencies, maintaining adherence to relevant laws and guidelines.• Conducted employee training on compliance topics, policies, and procedures to promote adherence to regulatory standards.• Facilitated enterprise-wide risk assessments and monitored the organization’s capacity to manage priority risks effectively.• Implemented comprehensive risk reporting mechanisms, delivering updates to the board, audit committee, and senior management to ensure informed decision-making. Show less

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  Motopay

  Feb 2024 - Nov 2024

  Head of Risk, Compliance & Internal Control

  • Design, implement, and maintain the Bank’s risk management policies and procedures to ensure robust identification, measurement, and mitigation of risks.• Conduct risk assessments to identify potential threats to the Bank’s operations, financial standing, and strategic objectives.• Develop Key Risk Indicators (KRIs) to monitor the Bank’s exposure to risks on an ongoing basis.• Ensure that adequate internal controls are in place and working effectively to reduce exposure to operational, financial, and reputational risks.• Ensure that the Bank complies with all relevant regulatory guidelines, including those of the Central Bank of Nigeria (CBN) and other regulatory authorities.• Conduct awareness training programs for employees to foster a culture of risk management, Control and Compliance across the Bank. Show less

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  CloverLeaf Microfinance Bank

  Dec 2024 - now

  Head of Audit and Compliance

  • Developing and executing annual audit plans that cover operational, financial, and IT processes.• Designing and monitoring an effective internal control system and implementing preventive and corrective measures to safeguard organizational assets and processes.• Conducting audits to assess the effectiveness of internal controls, compliance with policies, and the accuracy of financial records while recommending improvements where necessary.• Ensuring full compliance with applicable laws, regulations, and guidelines by developing and implementing robust compliance frameworks, policies, and procedures.• Overseeing the Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Data Protection programs to ensure adherence to national and international standards.• Providing strategic advice to senior management on emerging regulatory developments and their impact on the organization.• Acting as the primary liaison with regulatory bodies and overseeing regulatory reporting and examination processes.• Organizing compliance and control training programs for employees and management to foster a strong compliance culture. Show less