Job Ref. No: JHIL086
Role Purpose
Working with the relevant business heads, the role holder will be responsible for developing and maintaining the appropriate Money Laundering, Compliance and Risk management framework and systems within the Company. The role involves enterprise-wide coordination of identification and management of all risks and will include propagating, monitoring, and reporting on compliance with laws, regulations and internal policies, standards, guidelines, and procedures.
Main Responsibilities
Strategy
Risk Governance: Develop and implement the organization’s risk management framework, identifying and assessing potential risks across various business processes. Risk Assessment: Lead company-wide risk assessment exercises to identify key risks.
Risk Quantification and Aggregation: Support the business in quantifying risk limits and set risk tolerance levels for the company.
Risk Monitoring and Reporting: Communicate to key stakeholders regarding the risk profile of the business; Lead the development of relevant key indicators and associated appetite thresholds for various business line; Co-ordinate and oversee regulatory inspections; and Review and vet software purchases and/or license renewals.
Oversee the company’s AML program, ensuring compliance with applicable laws and regulations. Design and implement AML policies and procedures, including customer due diligence and suspicious activity reporting.
Oversee and manage the reporting of suspicious activities or transactions in compliance with local and international regulations;
Work with law enforcement agencies and regulatory bodies to facilitate reporting and investigations related to money laundering.
Design and implement improvements in the communication, monitoring and enforcement of compliance standards across the departments.
Review design of process manuals, ensure compliance to them and update regularly on the status.
Ensure that all relevant and required company policies are put in place and are approved by the relevant board committee and main board and that these are reviewed regularly to align with any changes in regulation or company policy/strategy.
Identify and interpret relevant laws, regulations, and industry standards, and ensure integration into the compliance program.
Collaborate with executive leadership to communicate compliance-related strategies and their impact on business operations.
Work closely with all departments, to ensure a cohesive approach to risk and compliance.
Provide guidance and support to business units on compliance matters and regulatory inquiries.
Stay informed about industry trends, regulatory developments, and best practices in risk and compliance management.
Drive continuous improvement initiatives within the compliance function, leveraging technology and process enhancements.
Operational
Business Continuity Management: In conjunction with the entity BCP committee review & test the Business continuity strategies & plans on an annual basis.
Support the IT Risk & compliance manager in the quarterly testing of the IT disaster recovery plans.
Conducting periodic reviews and 2nd line assessments to verify compliance with insurance and other applicable laws and regulations, internal policies, compliance procedures, control systems by each business and support function and any weaknesses or risks are identified and mitigated early on.
Ensuring all required regulatory reports are filed promptly and respond to policy/compliance violations by reporting to duly authorized regulatory agencies.
Review and implement all mandates from the Board and ensure all Board members and management are advised on the company’s compliance risk through detailed ad hoc, monthly, quarterly, and annual status reports.
Ensure compliance on submission of all Statutory returns and taxes.
Oversee day-to-day compliance operations, including the development, implementation, and maintenance of compliance policies and procedures.
Monitor compliance metrics and performance indicators to assess the effectiveness of the compliance program.
Coordinate internal audits and compliance reviews to ensure adherence to established policies.
Ensure Audit issues are closed within the agreed time frames.
Corporate Governance
Risk and Control Enhancement: Develop risk mitigations and responses in coordination with business units and monitor the progress of risk mitigation activities.
Serve as the primary point of contact for regulatory agencies and external auditors.
Ensure timely and accurate reporting of compliance-related information to relevant authorities.
Collaborate with legal and external counsel on compliance matters as needed.
Serve as the primary point of contact for regulatory agencies and external auditors.
Ensure timely and accurate reporting of compliance-related information to relevant authorities.
Collaborate with legal and external counsel on compliance matters as needed.
Culture
Foster a strong culture of compliance throughout the organization, promoting ethical behavior and a commitment to regulatory compliance at all levels.
Formulate training programs and conduct training for compliance, risk and money laundering areas as well as additional training for areas with the greatest risk exposure and carry out periodic or one-off interventions to address compliance and financial crime controls knowledge transfer needs in the Company.
Encourage a “speak-up” culture where employees feel comfortable reporting compliance concerns or potential violations.
Key Competencies
Risk Management Expertise
AML (Anti-Money Laundering) Knowledge
Regulatory Compliance
Policy Development and Implementation
Audit and Internal Control
Data Analysis and Reporting
Communication and Collaboration
Leadership, Team, and change Management
Qualifications
Master’s degree in finance, Business Administration, or a related field.
Bachelor’s degree in business, finance, law, or a related field.
Professional certifications in risk management, compliance, and AML
Member of a relevant professional qualification; CISA/CISM/CRM/CPA.
Relevant Experience
Minimum of 8 years proven experience in risk management, compliance, or a related field, with at least 4 years in a managerial role.
go to method of application »
If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and Position by 16th August 2023. Only shortlisted candidates will be contacted.
Apply via :
Recruitment@jubileekenya.com
