Job Ref. No. JAML021
Role Purpose
The role holder is responsible for ensuring that the
organization adheres to regulatory requirements, mitigates money laundering
risks, and protects data privacy. The role involves developing and implementing
compliance strategies, monitoring regulatory changes, and ensuring all
activities align with the company’s ethical standards and legal obligations.
Duties and Responsibilities
Strategy:
Develop and implement a comprehensive compliance
strategy to align with corporate goals and regulatory requirements.
Identify emerging compliance, money laundering, and
data privacy trends and integrate them into the company’s policies and
procedures.
Collaborate with senior management and other key
stakeholders to implement the strategic direction for
Regulatory, Compliance Function with the Company. This involves analyzing market trends, assessing industry dynamics, and identifying opportunities for improvement and growth.
AML/CTF risk identification and management. Working
with the business to identify high-risk operations (Products, Services,
Customers, Geographical Locations, Distribution). Review the ML/TF risk
profiling developed by the business, the adequacy and efficacy of
implementation and controls instituted. Providing Senior
Management and Board regular updates on the same.
Keep abreast of regulatory developments and industry
initiatives and advise management accordingly
Compliance
Review of all relevant statutory laws and regulations
applicable to the Company and ensure compliance.
Ensure that business activities are conducted in
conformity with all applicable laws, regulations, internal policies, and
procedures.
Ensure that all regulatory permissions remain current
and appropriate for business needs.
Provide reporting with respect to regulatory
requirements and developments.
Continual compliance risk assessment of company
practices together with the development of internal policies and procedures,
compliance training and protocols.
Serve as the liaison for all regulatory bodies as
well as maintaining relationships with relevant legal bodies and trade
associations.
Liaise with departments to understand the regulatory
and internal control gaps. Follow up to ensure implementation of mitigating
controls.
Develop compliance checklists and prepare compliance
reports.
Inform the Management unit of any findings with
regards to non-compliance that may require investigation.
Ensure compliance with best practices and participate
in business process re-engineering exercises to ensure controls.
Carry out review of SLAs and Manuals to ensure
applicable regulatory laws are incorporated.
Preparation of compliance documentation with respect
to Data Privacy for statutory, legal and regulatory purposes.
Identifying potential regulatory and non-regulatory
risks through ongoing risk assessments with relevant business leads.
Evaluating identified risks against a variety of
information & factors (e.g., documents /statistics /reports/trends) to
provide commentary and recommendations on how to mitigate these risks.
Providing insightful and quality reporting to the
CEO, and other key stakeholders to support compliance related processes.
Money Laundering
Ensure the company meets all regulatory requirements
and recommendations for AML/CTF compliance.
Receiving and evaluating Suspicious Transaction
Reports (STR’s) against internal business information and external sources and
make an independent determination whether there are enough grounds for
suspicion to warrant reporting the transaction to the Financial Reporting
Centre (FRC).
Maintaining, as proof of compliance, all the
evaluation documents/information used in the STR determination process and
other investigations.
Maintaining a register of all STR’s reported to the
authorities and those not reported.
AML/CTF risk identification and management. Working
with the business to identify high-risk operations (Products,
Services, Customers, Geographical Locations,
Distribution). Review the ML/TF risk profiling developed by the business, the
adequacy and efficacy of implementation and controls instituted. Providing
Senior Management and Board regular updates on the same.
Receiving and evaluating Suspicious Transaction
Reports (STR’s) against internal business information and external sources and
make an independent determination whether there are enough grounds for
suspicion to warrant reporting the transaction to the Financial Reporting
Centre (FRC).
Maintaining, as proof of compliance, all the
evaluation documents/information used in the STR determination process and
other investigations.
Maintaining a register of all STR’s reported to the
authorities and those not reported.
Acting as the main point of contact with government
authorities. Ensure businesses meet all regulatory requirements and
recommendations for AML/CTF compliance. Co-operate with any lawful information
requests made by government agencies during their investigations.
Establishing written and board approved AML/CTF
policies.
Data Privacy
Establish, implement, and enforce a robust Data
Privacy and compliance framework and systems (policies, processes, and tools)
so as to ensure that Jubilee Asset Management Limited is compliant with the
Data Privacy Act and Regulations.
Keep abreast of regulatory developments and industry
initiatives and advise management accordingly.
Data Privacy Impact Assessments: Conduct privacy
impact assessments for new products, processes, or systems that involve the
collection and processing of personal data.
Establishing the Data Privacy Act Governance,
regulatory framework and implementation plan which shall include development of
the various required statements and policies.
Regularly training of all internal stakeholders
involved in data collection/processing, updating the training as well as
conducting specific trainings for specific processing requirements.
Serving as the Data Privacy Officer and point of
contact between the Company, the Office of the Data Privacy
Commissioner and other Regulatory Authorities and
co-operating with them during inspections.
Support the business in preparation of digital and
other privacy statements as may be required for the institutions and supporting
functions and ensure processes are put in place for the institutions/support
functions to collect consents from the relevant data subjects and partners,
have relevant privacy statements provided on all company forms and/or
literature, websites and other communication or data collection mediums.
Corporate Governance
Compliance: Stay updated on industry regulations,
compliance requirements, and best practices.
Adherence to the laws and regulations of Kenya, the
policies and regulations within the Asset Management industry and all internal
company policies and procedures.
Ensuring compliance with applicable statutory and
regulatory requirements and establishing mitigation measures against emerging
business risks.
Implement effective risk management strategies,
including appropriate internal controls, to mitigate operational, financial,
and regulatory risks.
Leadership and Culture:
Fostering a corporate culture that promotes ethical
practices and good corporate citizenship while maintaining a conducive work
environment.
Collaborate with cross-functional teams to develop
initiatives that promote a positive and inclusive company culture.
To provide the much-needed transformational
leadership to meet and surpass the expectations of stakeholders.
Set performance targets and objectives, monitor
progress, and ensure timely completion of activities.
Conduct regular team meetings and training sessions
to enhance skills and knowledge.
Building relevant departmental capacity to deliver on
strategy by leading, guiding, directing, and evaluating the work of the team.
Key Competencies
Strong understanding of compliance, AML laws, and
data privacy regulations.
Excellent analytical and problem-solving skills.
Proficiency in compliance management tools and
software.
Strong communication and interpersonal skills.
Ability to manage multiple tasks and meet tight
deadlines.
High ethical standards and integrity in handling
compliance and privacy matters.
Commitment to maintaining the highest levels of
honesty and confidentiality.
Comprehensive understanding of the regulatory
landscape and industry best practices.
Ability to stay updated with evolving regulations and
incorporate changes into the company’s compliance framework.
Qualifications
A bachelor’s degree in law, Finance, Business
Administration, or any other related field is essential.
Certified Anti-Money Laundering Specialist (CAMS)
Certified Information Privacy Professional (CIPP)
Certified Compliance and Ethics Professional (CCEP)
Relevant Experience
At least 5 – 6 years of experience in compliance,
Regulatory affairs and AML/CFT programmes within the financial industry
specifically investments, Asset Management and banking.
At least 2 years’ experience in a supervisory role.
How To Apply
If you are qualified and seeking an exciting new
challenge, please apply via Recruitment@jubileekenya.com quoting the
Job Reference Number and Position by 9th June 2024. Only
shortlisted candidates will be contacted.
