Job Purpose
To support Bank management in the identification and management of compliance risk as required by relevant regulatory, supervisory and statutory regulations/guidelines, applicable codes of conduct and minimum standards.
Key Responsibilities/Accountabilities
• Implement a risk-based compliance monitoring programme from the Compliance Risk Management Plans.
• Prepare and/or enhance compliance obligation checklists and Self-Assessments of regulatory, legislative, AML and compliance policies in conjunction with the respective business functions.
• Review and maintain comprehensive compliance self assessment attestations from branches and departmental functions on a quarterly basis.
• Conduct off-site and onsite reviews to ensure compliance risk management controls are being adhered to.
• Prepare working papers for the onsite assessments to be conducted on branches and departments.
• Monitor and track closure of exceptions/ lapses raised from the Compliance Self-Assessment attestations.
• Co-ordinate the implementation of corrective measures to mitigate identified deficiencies.
• Identify and assess the compliance and internal control risks and gaps associated with the bank’s activities.
• Entrench AML policies and ensure that appropriate AML procedures are implemented effectively by the bank including customer acceptance policy, customer due diligence, record keeping and on-going monitoring
• Work with business functions to ensure potential risks have been mitigated in the bank’s proposed future business activities.
• Advice on compliance related legislation affecting the bank.
• Make recommendations for the amendment of policies, procedures, and processes where necessary.
• Review the Bank’s Compliance policies and standards on a regular basis to ensure completeness and consistency with current and prospective organizational responsibilities.
• Draft Procedures for the various Compliance Policies
• Conduct targeted reviews to assess compliance with internal policies, procedures and processes.
• Provide compliance risk reports on completion of reviews to all functional heads.
• Monitor and track closure of management actions by regulators, internal and external auditors and ensure management response.
• Monitor the Bank’s risk status periodically and report to Board Audit and Risk Committee on a quarterly basis
• Provide input for compliance reports to Risk and Conduct Committee, EXCO and Board committees, ensure such are submitted timely.
• Raise awareness and provide training to bank staff on compliance policies.
• Ensure bank is protected against regulatory penalties and sanctions.
Training
• Conduct continuous risk management awareness training to all staff to ensure staff are aware of risks relevant to their functional roles.
Preferred Qualification and Experience
• Undergraduate degree in business;
• Minimum 4 years of experience in the banking industry and 3 years experience in monitoring and conducting departmental reviews
Knowledge/Technical Skills/Expertise
• IT skills in data analytics is an added advantage.
• Comprehensive understanding of the regulatory and business environment of the banking industry.
• Understanding of business unit needs and ability to translate them into risk management solutions.
• On-going awareness of regulatory requirements related to banking.
• Awareness of personal liability obligations.
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