Head of Compliance

Reporting firmly to the Board Risk & IT Committee and administratively to the CEO, the role is responsible for overseeing and managing both regulatory and non-regulatory compliance issues within the Bank.

• Develop and implement Compliance strategy and framework comprising of Charter, Policies and Procedures to ensure high-level compliance of bank’s operations with the Country and International rules and regulations as well as safeguard the Bank’s interest.
  

• Review compliance policies and procedures on a regular basis to ensure they comply with statutory and regulatory requirements, i.e., POCAMLA and POTA.
  

• Develop and ensure maintenance and up to date robust system for tracking existing, new laws and regulations, interpreting the impact of these laws, and mapping them against current policies and procedures in liaison with the relevant departments. Ensure that the Bank comply with all the relevant legislations and regulations.
  

• Maintain and regularly update a regulatory compliance issues database with compliance findings by regulator and auditors and from internal reviews, tracking closure actions and escalating long outstanding items to the relevant levels including to the Executive Management, Group or Board Committee.
  

• Management of Correspondent Banking relationships and respondent Banking relationships entailing completion of AML/CTF/PF Questionnaire for Correspondent clients.
  

• Develop the Annual Compliance Work Plan / Program that will guide in evaluating the Bank’s vulnerability to breaches of legal and regulatory standards by Proactively identifying, measuring and assessing all the compliance risks.
  

• Formulate training programs on KYC/AML/CFT/PF and conduct annual trainings across the Bank including Branch network to increase compliance knowledge across the Bank.
  

• Ensure adequacy, effectiveness and efficiency of Compliance function and Compliance Controls (i.e., regulatory Compliance, Financial Security, Market abuse, Suitability, Deontology, Conflict of Interest etc.) in accordance with regulatory and policy requirements.
  

• Update Senior Management and the Board on all matters related to Compliance Management.
  

• Ensure Daily, Weekly, Monthly, Quarterly and Annual reports to the regulators are prepared and submitted as required.
  

• Liaise with other departmental heads to ensure that all business operations are in line with Bank policies.
  

• Retain a team of competent compliance management professionals with the necessary succession planning to ensure business continuity.
  

• Establish a risk-based Compliance Program to identify, measure and assess Compliance risks in Products, activities and processes of the Bank in accordance with the Compliance framework.
  

• Review the investigations on “Red flags”, escalate suspicious, dubious and or fraudulent names/accounts and/or transactions and report it to senior management and Board Committee.
  

• Report material findings, anomalies and recommendations pertaining to Regulatory and or financial crime related issues to the relevant stakeholders.
  

• Ensure the relevant tools and systems required for carrying out Compliance functions and specifically financial Security functions (including monitoring and data mining tools for review of transactions) are in place.
  

Qualifications

• University Degree in Finance, Accounting or Business-related field.
  

• Master’s degree in finance, Accounting or Business-related field is and added advantage.
  

• Certifications such as Certified Anti-Money Laundering Specialist (CAMS), Certified Financial Crime Specialist (CFCS) or other relevant qualifications.
  

• 10 years Banking working experience with at least 5 years at Team lead/Senior/Management level in Compliance role/s
  

Skills and Competencies

• Excellent team leadership, communication, interpersonal and management skills with the ability to effectively communicate with various stakeholder groups such as the Board, Regulators, and staff at various levels.
  

• Extensive regulatory knowledge; Local and international AMLCFT regulations, FATCA, CRS
  

• Experience of working with key regulators and industry associations
  

• Knowledge of local and international regulatory requirements and obligations and the ability to identify emerging compliance issues and themes.
  

• An ability to influence the key stakeholders on all compliance risk-related matters affecting the Bank and the ability to independently challenge, when needed, while at the same time being supportive and solution-based.
  

• An ability to be “hands on” and “in the trenches” with the direct team.