Head Compliance and Regulatory Affairs
NCBA Bank
About NCBA Bank
NCBA Bank is a leading financial institution in East Africa, committed to providing innovative financial solutions that help our clients achieve their financial goals. With a rich history spanning over 60 years, we have built a reputation for excellence in service delivery, a strong brand, and a customer-centric approach. We offer a wide range of financial products and services to both retail and corporate clients, including personal banking, business banking, investment banking, and wealth management. Our team of experienced professionals is dedicated to providing personalized financial advice and solutions that are tailored to meet the unique needs of each of our clients. At NCBA Bank, we believe in the power of collaboration and have established strategic partnerships with leading companies in various industries to provide our clients with access to innovative products and services that complement our offerings. We are also committed to promoting financial inclusion and have implemented various initiatives to support individuals and businesses in underserved communities. Our mission is to empower our clients to achieve their financial aspirations through innovative solutions and exceptional service. We are proud of our track record of success, and we look forward to continuing to serve our clients and communities with integrity, professionalism, and excellence.
Job Description
The job involves enterprise-wide coordination of identification and management of all compliance risks and will include propagating, monitoring and reporting on compliance with laws, regulations and internal policies, standards, guidelines and procedures. The role will encompass: AML/CFT Compliance risk and Compliance/Regulatory Risk.
As the Money Laundering Compliance Officer, the primary professional focus falls on the implementation and assessment of effectiveness of internal systems and controls that the institution puts in place to help detect, monitor and report money laundering activities to the relevant authorities. The MLCO will act as the liaison between the Bank and the Financial Intelligence Authority in matters relating to coordination and compliance with anti-money laundering and combatting terrorism financing obligations of the Bank.
Responsibilities
Responsible for supporting the achievement of profitability of the bank through management/ cost savings of set departmental budgets
Develop and review the Bank’s Compliance & AML/CFT Compliance Strategy and Policies
Develop the annual Compliance and AML/CFT Compliance work plan that ensures appropriate coverage; and is well coordinated with related activities covered by the Bank’s risk management and compliance programmes.
Oversee and monitoring the implementation of the compliance and AML/CFT compliance program
Coordinate with other risk managers and ensure timely preparation and circulation of monthly reports to Management and Executive Committees and quarterly reports to the Board and Board Risk Management Committee (BRMC) that will include summary compliance status reports.
Recommend compliance enforcement measures to Senior Management and provide independent briefing to the Board Risk Management Committee (BRMC)
Advise senior management on compliance and AML/CFT Compliance laws, regulations, rules and standards and keep them updated on all new developments with potential impact to the Bank’s compliance profile
Coordinate internal compliance reviews and monitoring activities, including periodic reviews of departments
Act as compliance liaison contact within the Bank and with external parties and maintain continuous dialogue and information to business units on key issues defined in the compliance and AML/CFT compliance policies and issues arising from the external environment.
Develop clear strategic objectives and measures to be assessed on compliance performance across the Bank and establish independent and effective processes to measure and report on progress towards achieving the compliance strategic objectives
Develop and ensure maintenance of a robust system that tracks compliance to establish legal, regulatory and policy parameters and prompt escalation of any exceptions or weaknesses. Ensure this is supplemented by a self-assessment programme based on compliance standards benchmarks embedded within the Bank’s broader RCSA programme
Monitor AML and Regulatory Compliance issues in the Bank
Ensure effective management and resolution of all compliance and control issues across the Bank
Deliver compliance training and awareness to Bank staff and management
Establish the complete compliance scope for the Bank and locally based subsidiaries based on applicable laws, regulations, policies and related policy standards and policy guidelines and aim at achieving 100% compliance
Carry out periodic or one-off interventions to address compliance knowledge transfer needs in the country and region
Maintain and regularly update a compliance issues database with compliance findings by regulators and auditors and escalate long outstanding items for senior management intervention
Ensure that compliance policies, procedures, standards and practices are properly communicated and followed by responsible bank staff.
100% adherence to policies, procedures and statutory guidelines.
Audit Rating = Satisfactory.
Audit issues closed within the agreed time frames.
Nil repeat findings.
Establish strong relationships and communications with stakeholders to ensure customer satisfaction and that concerns are addressed and expectations met.
Maintain and own team high performance.
Own up-to-date and actioned competency assessments and development plans.
Requirements
At least a Bachelor’s degree or its equivalent, preferably in a Business related field, or Law.
Master’s Degree is an added advantage
Professional Certification in CFE, ICA, ACAMS etc. is an added advantage.
Knowledge and effective application of all relevant laws and regulations and bank policies, guidelines, processes and procedures and to consistently achieve required compliance standards or benchmarks
Knowledge and experience in modern compliance risk management practices to initiate and implement tactical changes to support business performance
Exposure to matters of Compliance Strategy and related Policy formulation
Knowledge of AML/CFT Compliance regulatory framework including related policies.
Good knowledge of the best industry practice and ability to adapt these practices to the Bank’s environment
Preferably a minimum of 10 working experience with 5 years at middle management level in Compliance, Risk, Controls or Audit Management related areas.