Head of Risk & Compliance Job in Kenya

 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

Reports To: CEO,
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.


  • 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