TheCompliance and AML Managerwill be responsible for developing, implementing, and monitoring regulatory and legislative changes and practices of applicable regulatory authorities, legislation and industry best practices and policies.
Compliance
Responsible for making recommendations to the Board, Executive and Senior Management on the type and level of compliance and regulatory exposures in each activity segment permitted by policy.
Responsible for advising the institution on the requirements of the law and other regulatory and ethical demands concerning customer relations and AML / CTF. Overall responsibility in line with international policies and procedure for countering financial crime, including money laundering, fraud, sanctions, politically exposed persons, anti-bribery, and corruption-related compliance.
Responsible for reducing the likelihood of violations of the laws and regulations.
Responsible for reducing the exposure of the institution and its management to claims, including those on the obligation to exercise caution.
Responsible for preventing any breach of confidence by officeholders to prevent financial losses to the institution.
Responsible for the management of all company policies and procedures and ensure reviews of these policies are done on time.
Responsible for any other task that will be assigned by the Board or Executive management.
Responsible for reviewing significant business initiatives (new businesses, products, marketing, campaigns, and projects) and ensure that material compliance issues are identified and addressed timeously.
Responsible for developing strategies that adapt to regulatory changes arising from business diversification, new products or legislative changes and designing and implementing business processes to meet risk, compliance, and regulatory requirements.
Branch Control/Compliance
Develop and implement branch control and compliance plan.
Perform branch reviews of policy and regulatory requirements together with the Compliance Coordinator.
Develop and submit a branch compliance report to Executive and Senior Management
Support where necessary, remediation of identified gaps during branch reviews
Anti-Money Laundering (AML)
Developing of AML Policy and Procedures and coordinating on Fraud Policy Implementation
Conducting of Annual AML Risk Assessment and Risk Ratings Framework
Develop an AML/CFT Compliance Program for board approval and implementation.
Receive and vet suspicious (unusual) transaction reports from the staff.
File suspicious and cash transaction reports with the FIC.
Ensure that the financial institution’s compliance program is implemented.
Coordinate the training of the staff in AML/CFT awareness, detection methods and reporting requirements; and
Serve both as a liaison officer with the BOG and the FIC and a point-of-contact for all employees on issues relating to money laundering and financing terrorism & proliferation.
Educational Qualifications and Experience:
A Bachelors’ Degree or HND in risk management, law, economics, finance, accounting, or it’s equivalent in any field. A master’s degree in a related field would be advantageous.
3-5 years managerial level experience handling risk and compliance including AML function in a financial institution.
Skills / Attribute
Problem-solving and decision-making abilities.
Analytical skills and a good eye for detail.
Planning and organizational skills.
Negotiation skills and ability.
Good communication and presentation skills.
Numerical skills and the ability to evaluate costs.
Ability to understand broad business issues.
Skill for risk mitigation simulation.
Ability to benchmark and analyze various business risks.
Strong analytical background and a problem solver.
Ability to make decisions fast and establish rules on risk management.
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