Internal Controller

TERMS OF REFERENCE (TOR) Position Internal Controller with focus on Inventory Management & Finance Location Mogadishu, Somalia Industry Superstore / Retail Hypermarket Environment 1. BackgroundOne of the largest retail stores (Hypermarket) in Mogadishu, handling high-volume inventory across multiple product categories and significant daily cash and stock movements, is seeking a competent internal controller. To ensure strong operational governance and financial integrity, the hypermarket requires a competent and dedicated Internal Controller to strengthen inventory controls, prevent losses, and support accurate inventory and financial reporting. 2. Purpose of the Assignment The Internal Controller will safeguard the hypermarket’s assets by establishing and maintaining an effective internal control system over inventory, cash handling, procurement, warehousing, POS operations, and financial processes. The role ensures operational efficiency, compliance with policies, reduced shrinkage, and improved financial accuracy. 3. Scope of Work The Internal Controller will cover the following broad areas: 3.1. Inventory Management & Control Review and evaluate the effectiveness of inventory control procedures. Monitor stock levels, stock movements, shrinkage, and variances. Oversee stock counts (daily, weekly, monthly, quarterly) and investigate discrepancies. Assess stock receiving, put-away, storage, picking, and dispatch processes. Review barcode systems, SKU classification, and stock coding accuracy. Monitor expiry management for perishable items. Evaluate slow-moving, obsolete, and damaged inventory processes. Ensure proper segregation of duties between receiving, storage, and sales functions. Validate return-to-vendor, write-off, stock adjustment, and transfer procedures. 3.2. Procurement & Supplier Controls Review supplier setup, approvals, tendering, and contract compliance. Verify Purchase Orders (P.O.), Goods Received Notes (GRN), and supplier invoices. Ensure pricing, discounts, and rebates are correctly captured. Monitor lead times, delivery accuracy, and supplier performance. 3.3. Warehouse Operations & Loss Prevention Improve physical and security controls of warehouses and stores. Evaluate and improve CCTV, access controls, movement logs, and incident reporting. Closely monitor theft risks, pilferage patterns, and improve loss prevention controls. Ensure that the inventory in the warehouse is counted regularly and all dispatches are entered in the system Ensure that proper receiving of inventory is performed and recorded in the system Oversee handling of high-value or high-risk stock items.3.4. Point-of-Sale (POS) & Cash Controls Review POS configuration, pricing updates, and SKU scanning accuracy. Monitor daily cash counts, voids, discounts, returns, and price overrides. Evaluate cashier controls and segregation of responsibilities. Monitor e-payments, reconciliation of card transactions, and mobile payments. 3.5. Finance & ReportingReview monthly stock reconciliation and stock valuation. Assess the cost of goods sold (COGS) accuracy and gross margin reporting. Review accounting entries for inventory, write-offs, and stock adjustments. Monitor compliance with financial policies and IFRS (where applicable). Review internal controls over accounts payable and supplier payments. Ensure proper documentation, audit trail, and record-keeping systems. 3.6. Compliance & Operational Efficiency Evaluate compliance with company policies, SOPs, and internal control framework. Recommend improvements to processes, policies, and systems. Provide training to staff on inventory procedures, controls, and documentation. Coordinate with internal and external audit teams. 4. Deliverables The Internal Controller will provide: Monthly Inventory Control Report (stock variances, shrinkage, findings, and corrective actions) \Quarterly Internal Control Review Report (inventory, procurement, POS, finance) Warehouse Review & Loss Prevention Report Supplier & Procurement Compliance Report Risk Register for Inventory & Finance Areas Report on non-compliance of SOPs (Inventory management, stock counts, stock adjustments, POS controls, cash handling) 5. Key Performance Indicators (KPIs) Reduction in stock variances and shrinkage Timely completion of stock counts and reconciliations Improved gross margin accuracy Reduction in write-offs and expired/damaged items Compliance rate with Standard Operating Procedures (SOPs) Reduction in cash variances at POS Improved supplier delivery and contract compliance 7. Reporting Line The Internal Controller will report to: • General Manager and CEO 8. Required Qualifications & ExperienceBachelor’s degree in Accounting, Finance, Business Administration, Supply Chain, or related field. Part of a finalist in recognised accounting or internal control or Internal Audit certification Professional certifications (CPA, ACCA, CIA, CISA, CFE) are added advantages. At least 2 years of experience in retail, Fast-Moving Consumer Goods.(FMCG), or warehouse/inventory environments. Strong understanding of POS systems, ERP, and retail inventory modules. Experience in stock controls, audits, financial reporting, and loss prevention. Excellent analytical and problem-solving skills.📨 How to ApplyPlease send your CV and Cover Letter to: 📧 contact@hlbsom.com🗓 Application Deadline: 30 November 2025