Job Title: Head of Risk & Compliance
Hiring Organization: Anonymous
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Banking
Job Type: Full
Time
Salary: KES 280k
– 320k
Date Posted: 03/07/2024
Gross Salary: Ksh 280k – 320k,
Our
client is seeking to hire a Head of Risk & Compliance to ensure that the
Bank’s overall risk & compliance framework specifically under internal
processes and procedures, regulatory, statutory, KYC & AML guidelines is
acceptable and there is full compliance to the same within the bank. To carry
out risk assessments and advice on areas of improvement. Ensure full
implementation of the Enterprise Risk Management framework. To be the
substantive Money Laundering Reporting Officer of the bank.
Key Responsibilities:
Risk
& Compliance
- Prepare
an annual Risk and Compliance plan and seek approval from the management
and Board Audit and Risk Committee (BARC)
- Identify
and assess the risks associated with the bank’s current and proposed
future business activities, including new products, new business
relationships, and new business units.
- Conduct
risk assessments on a scheduled plan on all bank operations as well as on
any external influences and report periodically to management and BARC.
- Develop
and maintain the bank’s compliance checklists.
- Review
the risk management policies and Champion the overall implementation of
the Enterprise Risk Management Framework and risk management best
practices within the bank
- Maintain
and update the bank risk registers and Monitor the implementation of the
Bank’s Risk Appetite statement and risk limits by the Bank’s various
business and support units.
- Prepare
monthly ALCO and Management meetings reports as well as Quarterly BARC
reports.
- Implement
the bank’s stress testing policy framework and ensure effective processes
are in place to identify, measure, manage, monitor, and report on risk
exposures under stressed conditions.
- Carry
out compliance reviews and snap checks on compliance with banks’ internal
procedures and policies.
- Train
the bank staff on Risk management practices to improve on risk awareness
and culture of the bank.
- Monitor
implementation of all Audit recommendations
- Prepare
and file compliance reports with CBK.
- To
perform any other duty as assigned in line with the organization’s goals
and objectives.
Money
Laundering Reporting Officer (MLRO) Duties
- Ensure
that the business is continuously monitoring transactions and customer
risks.
- Receiving
and evaluating Suspicious Transaction Reports (STR’s) against internal
business information and external sources.
- Report
suspicious transactions and handle enquiries from Financial Reporting
Centre (FRC).
- Act
as the main point of contact with FRC. Ensure businesses meet all
regulatory requirements and recommendations for AML, CFT & CPF
compliance.
- Establishing
AML, CFT & CPF policies for board approval.
- Support
and advise business on how to establish internal procedures to manage
ML/TF/PF and how to perform their duties in accordance with the AML, CFT
& CPF policy and regulations.
- Carry
out AML Risk Assessments on new / enhanced products, services, and
channels; periodically carry out comprehensive AML Risk Assessment for the
bank activities/exposures.
- In
conjunction with the business team, review internal processes/procedures
regarding the AML, CFT & CPF and customer acceptance policies.
- Conduct
continuous reviews on AML, CFT & CPF compliance levels, efficiency,
and effectiveness of the AML, CFT & CPF controls.
- Assist
in reviewing escalated hits on the UN Sanctions and other lists.
- Work
with the HR function to ensure that all new staff and existing employees
holding key positions which may be exposed to AML, CFT & CPF risks are
screened.
- Preparing
and presenting compliance reports to various stakeholders on a daily,
weekly, monthly, quarterly, and annual basis
- Conduct
internal AML and KYC trainings as provided by CBK prudential guidelines.
Qualifications:
- University
degree in Accounting, Commerce, Economics or Business
Management/Administration, Financial engineering, Actuarial science, or
related business degree (Must)
- Certified
Anti-Money Laundering Specialist (ACAMS) or its equivalent (AA)
- Post graduate
training/Certification in Risk management from a recognized body (AA)
- A minimum of 7
years’ experience in risk/compliance discipline in a busy organization,
with strong understanding of overall banking operations, systems, and
processes.
- A sound
understanding of Enterprise Risk and Compliance Management principles and
philosophies.
- Demonstrate
understanding of local, regional, and global AML/ KYC, FATCA and CTF
compliance regulations within the financial services industry.
- Knowledge
of the Kenya Financial Services Industry and regulatory frameworks.
- Knowledge
of emerging regulations and trends e.g. Data Protection Regulations, ESG
reporting.
- Prior
experience of designing and implementing risk and compliance management
policies, procedures, and processes.
- Excellent
analytical skills
- A
dynamic self-starter with ability to prioritize and to work independently
as well as in a team.
How to
Apply
Gross
Salary: Ksh 280k – 320k,
If you
are up to the challenge and possess the necessary qualifications and
experience; please send your CV only quoting the job title on the email subject (Head of Risk & Compliance) to vacancies@corporatestaffing.co.ke
before 13th March 2024