The Compliance Manager will be responsible for establishing and maintaining a robust and effective compliance framework. He will provide assurance to the Audit & Risk Board Committee around compliance with all relevant regulations and industry legislation. The Company expects the Compliance Manager will adopt the highest standards of compliance and governance, in line with best practice, laws, regulatory and internal policy standards.
| Key Accountabilities/Responsibilities | Weight |
| Monitoring· Assist with developing and implementing a risk-based compliance monitoring programme, identifying, assessing, monitoring and reporting all material compliance risks.
· Monitor, track and report on closure of corrective actions committed to by Management in relation to exceptions identified by regulators and auditors. · Ensure that compliance procedures, systems and controls are up-to-date and effective. · Maintain the compliance manual and all compliance procedure documentation. |
20% |
| Risk Assessment
• Proactively identify Compliance and business risk exposures from emerging changes in laws and business trends (including competitors’ activities and economic and political change) and support stakeholders in actions towards mitigating the risks. • Assist with the compliance risk assessment processes ensuring that the compliance risks are appropriately identified and assessed. • Coordinate risk management structures to enable CEO & MD and Management to develop specific measures in line with the Company’s risk appetite. |
25% |
| Advisory
• Maintain an understanding of relevant regulatory requirements to provide advice and guidance to CEO& Managing Director, The Head of Internal Audit and other senior managers enabling them to implement compliant policies and procedures. • Review and recommend actions towards compliance with audit and regulatory inspection findings on risk exposures while monitoring / tracking and coordinating adherence to corrective action plans agreed to by Management. • Be responsible for day to day management of employee training, including providing regular training to employees on compliance matters, including internal policies and procedures, the application of standards and guidelines, and relevant laws and regulatory requirements, promoting and enhancing a strong company-wide compliance culture. |
10% |
| Reporting
• Assist with preparing standard and ad-hoc information and data reports to regulators and other stakeholders as required. • Prepare and manage on regular basis appropriate timely management information on compliance and regulatory issues to Audit & Risk Committee and Head of Internal Audit including suggested mitigating actions. • Provide Compliance and Risk reports on completion of reviews to the relevant functional Heads and Management for remedial action. Collaborate with Internal Audit to fill all disclosed gaps. • Assist with preparing and coordinating ad-hoc reports on compliance developments as required. |
15% |
| Policy and Procedure Development
• Challenging the Company and recommend amendments to the internal policies, procedures and processes, where applicable, based on the identified and assessed gaps associated with the Company’s business activities. • Review compliance policies and procedures on a regular basis to ensure they comply with statutory and regulatory requirements. • Where relevant participate in the development and implementation of other policies and procedures, ensuring regulatory and legislative requirements are met. |
10% |
| External Relations
· Coordinate and maintain relationships with various internal and external stakeholders, including regulators, to ensure ease of communication, information sourcing, achievement of timely responses to queries and ensuring that the Company’s views are appropriately represented. · Facilitate the supervisory activity of regulators. |
10% |
| Compliance training:
• To build and oversee the development and maintenance of a Compliance and risk management staff training program, to ensure knowledge gaps are eliminated and critical compliance knowledge requirements are disseminated to staff on an ongoing basis. |
10% |
Qualifications
Skills, Competencies and Experience
| • Bachelor’s Degree in Business related course and regulatory understanding.
• Knowledge of internal controls and risk assessment methodologies. • Knowledge of regulatory compliance requirements and risk management principles. • Ability to anticipate and mitigate risk by developing appropriate Risk Management Policies for all business units in company, • Excellent knowledge of National and International Compliance Standards, Capital Markets Act, and other relevant Legislations, • Top notch understanding of the regulatory issues, reporting and operational requirement, • Ability to quickly grasp and understand systems and keen to detail, • Ability to design functional risk management within the parameters of broader Enterprise Risk policies, practices and capabilities, • Ability to build strong internal relationships, • Ability to conduct risk workshops and/or training. • Excellent written and verbal communication skills; • Good communication skills • Organizing and planning skills |
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