Job Description
Maintain up to date operational procedures and guidelines from time to time including adherence to regulator guidelines – through ensuring availability of updated/end-to-end procedure manuals within the operations department embedding of the relevant control standards
Operational Risk Management: –
Resolution of Audit and Quality Assurance issues – track resolution of audit and quality assurance findings with the portfolio branches once the branches /units are reviewed and provide feedback as appropriate to the Manager, Branch Operations and Controls.
Ensure compliance at all times by all portfolio branches to existing regulator and internal policy and procedure guidelines.
Support portfolio branches with the necessary MIS Reports to assist in operational risk management e.g. high value transactions, among others.
Process flows/Procedure manuals -ensure availability of updated/end-to-end departmental operating instructions/procedure manuals within the portfolio branches and embed the relevant control standards in the branches/units. Develop and periodically review processes and Operating procedures for all departments with relevant stakeholders.
Process reengineering – Analyze various processes and products, existing or new, by addressing required processes under the Compliance program framework (risk assessment, to documenting controls, and to implementing testing)
Provides input in design of business management information (MIS) reporting to incorporate compliance risk metrics, monitoring metrics and escalates matters as appropriate.
Acts as compliance and controls representative in projects involving new or changes to existing regulatory impacted materials/process/procedures/policies/circulars.
Monitors major and critical compliance risks issues and provides advice on design of business line compliance quality control/assurance programs, reviews results, and advises
on program enhancements.
Contribute to the overall risk management strategy of maintaining/ reducing the level of risk as business expands. Develop and implement a Banking Operations Manual that governs all processes and procedures for effective management of Banking Operations. Introduce the relevant journals, registers and controls for dual control.
Ensure compliance by branches with Faulu Microfinance Bank Limited standards and regulatory requirements pertaining to Money Laundering and Know-Your-Customer (KYC)
Ensure complete, accurate and timely issuance of SARs (suspicious activity reports) both for consumer and corporate customers to the local regulator.
Exercise due care and diligence on matters related to Money Laundering and KYC in the day-to-day operations, which include account opening and reviews, transaction monitoring, reporting suspicions, implementing new requirements, updating and revising operating procedures, acquire relevant knowledge and training, provide support to the branches.
Oversee and enhance the AML Analytics function (i.e. AML MIS, trend analysis and monitoring) in order to better develop comprehensive AML monitoring structure for the business.Fraud control and operational loss management responsibilities.
Ensure that process weaknesses that present potential opportunities for operational losses or frauds are sealed to avoid further fraud/operational loss incidents in portfolio branches.
Have a close cooperation with legal, Security, risk, Internal Control and internal audit teams to protect the business reputation.
Contact point for Internal & External Auditors and Regulators for AML/Compliance related matters as well coordinating with branches during the audit exercises.
Keep abreast with latest developments in the banking fraud/security fields with a view to enhancing the department.
Ensure compliance to key fraud and related fraud/security policies.
Cash Management:-
Monitor portfolio branches Vault Cash amounts and advise on replenishing or repatriating the amounts as directed by the Treasury Manager.
Carry out online system surveillance during the working hours and give assurance of compliance to Banking Operations Manual and procedures for the Vault & Teller Cash Management.
Identify gaps in cash movement and assist the Treasury & Financial Planning Manager to propose alternative sources for management decision making.
Assist in analyzing costs incurred in the process of cash management at the branch for efficiency and implement cash saving solutions.
Independently verify Cash in Transit invoices from the Service provider before payments are made.
Cost Management responsibilities: –
As guided by the Manager, Branch Operations and Controls, facilitate in enforcing cost
management measures in the portfolio branches.
Assess and make recommendations as regards idle capacity to ensure maximum
utilization of resources and returns on investment.
Business Growth responsibilities: –
Support and where appropriate champion implementation of special projects in portfolio branches to deliver superior performance and banking business growth plans as measured by the agreed business cases.
Continuously review all processes within the department, identification of potential risks; review of controls to adequately and effectively address all risks and ensure that the processes are efficient and effective with an aim of improving on TAT.
Identify opportunities to produce innovative ideas to keep risk management at the forefront of business.
Branch Support: –
First escalation contact for portfolio branches emergencies e.g. offline, blackout, IT issues, branch security, etc. follow up with the responsible Business Support Centre departments and 3rd party vendors to provide speedy solutions – High severity issues should be escalated promptly to the relevant senior management.
Ensure overall operational readiness and efficiency of the branch infrastructure including premises, ATMs, systems and physical security requirements.
Promptly handle daily routine and all queries originating from the portfolio branches.
Help develop Business Unit compliance training programs and may deliver specialized training as required.
Embed process for Suspicious Activity/Transaction Reporting or escalation in the portfolio
branches/units and ensure copies of the same are kept.
Carry out branch reviews in order to ensure that AML&KYC policy is being followed, highlight exceptions and track corrective actions.
Raise the visibility of compliance issues, internally across all stake holders within the organization.
Entrench a risk awareness culture and develop risk self-assessment capability to identify, evaluate, monitor and mitigate the risks.
Enforce adherence with compliance and control procedures.
Ensure development and analysis of relevant management reports on various key aspects of the department’s responsibilities e.g. Dormancy Management etc.
Provide day-to-day management for a high caliber team of Banking Operations Professionals, providing guidance, support, coaching and motivation. This includes performance management, career development and general line management duties.
Branch Expansion: –
Preparations of documentation for CBK approval for new branch opening.
Coordinating with all stakeholders to ensure new branch preparedness for opening i.e. staff, ICT, Admin issues.
Coordinate and work CBK Inspectors on new branch inspection before licensing.
Participate in talent identification to interview and onboard operations staff as well as training them on operational preparedness prior to opening new branches.
Information Technology Systems: –
Designing and writing test cases and test Scenarios for New systems and deployments.
Evaluate and report on IT service delivery and support to the business.
Offer advisory services to management concerning information systems emerging risks and best practices.
Participate in System Service validation and testing.
From time to time, offer IT Operational Support during System release and deployment.
Review systems development, change management and system acquisition projects for quality assurance and adherence to relevant policies
Incident reporting: –
Embed a process for loss/risk incident reporting by portfolio branches/banking units (to ensure no surprises)
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