Risk and Compliance Officer at Sumac Microfinance Bank

About the Role

The job holder will be responsible for ensuring that the Bank’s overall Risk & Compliance framework, specifically under internal processes and procedures, regulatory, statutory, KYC & AML guidelines, is acceptable and there is full compliance to the same within the bank. To also carry out risk assessments and advice on areas of improvement. 

Key Responsibilities: 

• Conduct Risk assessments on all bank projects, units, products, and processes as per the risk management policies and procedures.
• Conduct reviews on all bank activities, processes, and units to ensure compliance with internal policies and procedures, regulations, and all relevant laws.
• Conduct daily transactions monitoring, compile, and report to relevant regulators on any over the limit and/or suspicious transactions.
• Conduct internal Risk management, AML, and KYC trainings to promote compliance awareness and improve the risk culture in the bank.
• Represent the risk and compliance function at various management meetings as and when requested and advise on risk issues.
• Take part in preparation of Risk and Compliance reports
• Maintain detailed knowledge of current AML/CFT/CPF regulations and keep track of developments within the AML/CFT/CPF scope, sanctions, terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends and advise accordingly
• Maintain strong working relationship with internal and external stakeholders to ensure that compliance issues are regularly discussed and addressed.
• Acts as the AMLRO Officer for the Bancassurance Intermediary
• Monitor and track closure of management actions from the compliance reviews, regulators and external audit reports
• Proactively identify gas in the assigned reviews, assessments, projects and follow up on implementation of agreed mitigation controls
• Perform any other duties as assigned in line with the organizational goals and objectives 
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Qualifications and Technical Competencies

• University degree in a business-related field or its equivalent.
• At least 4 years’ experience in Risk & Compliance within Banking or a regulated financial services sector
• Professional risk management qualifications is desirable.
• A Certified Anti-Money Laundering Specialist qualification will be an added advantage
• Knowledge of money laundering techniques and regulations
• Knowledge of regulatory compliance requirements and risk management principles
• Demonstrable analytical skills
• Good organization and planning skills
• Good knowledge of Banking operations
• Results oriented, effective communicator and a team player
• Proficiency in computer applications