Compliance Manager
Job Description
- Assist in overseeing the Bank’s
Regulatory and Compliance activities, Training & Management
Information Reporting to drive a strong compliance culture in the business
and management of compliance risks. Develop, review and implement the
bank’s Compliance program, as the Bank’s Money laundering Reporting
officer (MLRO).
Key Responsibilities
- Assist in developing,
implementing and reviewing of Compliance Risk Management Policies and
processes in line with regulatory bodies’ requirements.
- Assist in overseeing the
monitoring of compliance to policies and procedures and ensure corrective
action is taken where there are deviations to minimize exposure.
- Undertake compliance checks on
adherence to policies and processes in all business units
- Carry out training to all staff
with regards to KYC/AML and other regulatory requirements. This includes
new developments in regulations.
- Ensure adherence to Principles of
Corporate Governance & best practices.
- Act as a focal point for
compliance issues across the Bank
- Act as a link between the bank,
CBK and other regulatory bodies on compliance issues.
- Develop, review and implement the
bank’s Compliance program, as the Bank’s Money laundering Reporting
officer (MLRO).
- Ensuring the bank has in place
effective reporting systems for violations or potential violations to
relevant authorized enforcement agencies.
- Assist in formulating &
reviewing the Compliance/Regulatory Function’s Policies, Procedures,
Templates, Job Descriptions & Objectives
- Measure compliance risk (e.g. by
using key risk indicators) and use such measurements to enhance the
institutions’ risk assessment. Champion the Management of Compliance Risk.
- Monitor developments in
legislation and regulation and assess their impact on the Banks’ business
operations and its policies and procedures.
- Monitor compliance to the Old
Mutual Group Risk Policies and Standards.
- Manage, assess and co-ordinate to
enable the Bank to comply with the regulatory requirements so as to avoid
violations or non-conformance with, laws, regulations, prescribed
practice, or ethical standards.
- Develop and manage
mechanisms which will ensure adherence to principles of good corporate
governance and ethics. These to include the establishment and adherence to
Board and Directors’ Charters, Board and Sub-board composition, Board of
Directors’ Performance Evaluation, Meetings and Minutes.
- To act as a focal point for all
compliance issues.
- Provide reports (MI) on a regular
basis, and as directed or requested, that supports the head of Risk and
Compliance to report to Management and the Board, the operations and
progress of compliance efforts.
- Ensure proper reporting of
violations or potential violations to relevant authorized enforcement
agencies as appropriate or required to prevent further penalties/fines.
- Formulate and review the
Compliance/Regulatory Function’s Policies, Procedures, Templates, Job
Descriptions and Objectives to make sure they are in tandem with the
changing operational environment.
- Conduct compliance checks and
other assurance exercises, bank-wide to identify areas on regulatory
non-compliance or control weaknesses that have the potential to lead to
non-compliance. Monitor implementation of agreed management actions.
- Any other duties assigned by the
Head of Risk and Compliance from time to time.
Money Laundering Reporting Officer Duties
- Develop, implement and review the
Banks AML, KYC & CFT Policy
- Sensitize all staff of the Bank
on all acts, regulations, internal policies & guidelines in relation
to Money Laundering as well as the Bank’s policies, procedures and
standards.
- Monitor and report any suspicious
transactions or activities to the Financial Reporting Center (FRC)
- The contact point within the Bank
to whom staff report all suspicious transactions.
- Cooperate with national law
enforcement agencies by taking appropriate measures which are consistent
with the law in all matters in relation to Money Laundering
- Ensure screening of all
customers, staff and service providers against the required ML sanctions
lists, before being onboarded.
- Ensure timely and accurate
submission of the required AML / CFT reports to both the Financial
Reporting Centre and the Central Bank of Kenya.
- Furnish a report to the Board and
Management on a periodic basis providing the compliance status to AML /
CFT / KYC laws regulations, policies and procedures.
- Ensure that any subsidiary
companies of the Bank comply to statutory requirements on AML, KYC &
CFT
Education
- Business degree
Knowledge and Skills
- Extensive / in depth knowledge of
the laws and regulations governing banks or the financial sector.
Experience
- At least 5 years’ experience in
compliance in a bank or financial institution
Personal Attributes
- Good decision-making skills.
- Assertiveness
- Good communication skills
- Attention to detail.
- Keen follow up
Desirable
- Master’s degree
- AML / compliance certification.
How to Apply