About the Role
As an Intern in Compliance & AML, the main responsibilities are to assist with the maintenance of a robust and effective compliance and AML framework for SIB under the guidance of the Head of Compliance and AML.
You will be expected to demonstrate commitment and loyalty and perform all duties in accordance with the organization’s office routines and procedures, keeping in mind the overall business objectives.
Key Responsibilities
The candidate will assist the Head of Compliance on;-
Development and implementation of SIB’s risk-based Compliance Monitoring Program, identifying, assessing, monitoring and reporting all material compliance matters:
Create, update and maintain SIB’s Compliance Register and ensure SIB is kept informed of all new and/or amended legislation
Developing SIB’s Compliance Framework
Reporting on Non-compliance matters to the Head of Compliance:
Check and report on compliance with all statutory requirements for implementation by the affected Department
Drafting situational opinion on compliance for Head of Compliance approval and signature
Review monitoring of compliance with key compliance policies; this includes regular reviews of relevant registers, including restricted investment registers, conflicts and gifts and hospitality, employee independence
Maintain an understanding of relevant regulatory requirements to provide advice and guidance to staff to ensure implementation of compliance policies and procedures
Working with HR and MLRO to come up with regular training programs to employees on compliance and AML matters, including internal policies and procedures, the application of standards and guidelines, and relevant laws and regulatory requirements, promoting and enhancing a strong SIB-wise compliance culture
Work with Risk and Internal Audit to ensure compliance and AML risks are appropriately identified and assessed
Review due diligence information periodically for all records and transaction files
Ensure update of internal processes and procedures as required due to regulatory changes
Review and manage standard and ad-hoc information and data reports to regulators and other stakeholders as required
On a regular basis, manage the preparation of appropriate and timely management information on compliance and regulatory issues for the Managing Director, including suggested mitigating actions
Coordinating ad-hoc reports on compliance developments as required
Work with HODs on review of compliance policies and procedures on a regular basis to ensure they comply with statutory and regulatory requirements
Where relevant, participate in the development and implementation of all departments’ policies and procedures, ensuring regulatory and legislative requirements are met
Support the Head of Compliance in the development and maintenance of effective and efficient interaction with regulators, ensuring SIB’s views are appropriately represented and facilitating the supervisory activity of regulators in the organization
Report any non-compliance issue and material breach of organizational and legislative requirements that remain un-rectified to the Head of Compliance
Assist in coordinating investigation of fraud cases, liaise with CMFIU and Legal on litigation and/or arbitration cases, and represent SIB as witness in Court
Conduct due diligence on high risk clients, including development and upgrades of high-risk client profile
Assist in preparing responses to all Due Diligence requests from fund managers and other institutions
Review KYC documents and client instructions, confirm uploading into the system and ensure data updates and proper storage
Anti-Money Laundering:
Maintain the SIB AML policy
Review various AML due diligence checks for all key parties involved in each SIB transaction
Provide advice to the business related to AML requirements
Report AML non-compliance issues
Review transactions to ensure AML reporting compliance
Knowledge & Experience Required
Bachelor’s Degree in Law
1 years’ experience working with regulators or regulatory compliance service providers
Detailed knowledge of financial services regulations, as impacting SIB’s business, e.g. know your client, anti-money laundering, sanctions, insider dealing, market abuse, conduct of business and conflicts of interest
Knowledge and experience of best practice compliance and governance frameworks, methodologies and emerging practice, compliance monitoring and risk assessments
Apply via :
sib.co.ke