Job Purpose:
To
oversight and ensure that the Bank is compliant and adheres to all relevant
laws and regulations that govern banking business and all other related
activities undertaken by oar affecting it like the banking Act, CBK Prudential
guidelines, Kenya banking sector Charter, Employment Act, Capital Markets Act
etc.
To
participate and contribute to the development of a strong compliance culture in
the Bank through regular compliance engagements with staff in the various
departments, units and across the branches.
Key Responsibilities
Regulatory & Statutory Compliance – 50%
- To monitor and keep
abreast on any proposed changes to the relevant laws and regulations with
a view to identify any potential impact that may arise for noting or
action by the Bank’s Executive and the board.
- To monitor and ensure any
changes to the regulatory and statutory requirements are immediately
identified, the relevant departments/ units are advised and required
actions are tracked for compliance.
- To maintain an up-to-date
register of all regulatory and statutory requirements that the bank is
obligated to adhere to and noting the respective internal owners/
departments/ units charged with the responsibility of enforcing and
ensuring compliance.
- To regularly assess the
status of compliance with all the relevant laws, regulations and policies
by conducting independent compliance reviews and/or reviewing compliance
self-assessments/ attestations submitted by departments/units as per the
approved framework/ the agreed work plan or as guided by the supervisor.
- To ensure that any
regulatory or statutory breaches identified are promptly reported.
- To guide, advise and
sensitize staff in the various departments and units of their obligations
with the focus on ensuring compliance with relevant regulatory and
statutory requirements.
Compliance Monitoring – 20%
- To regularly evaluate and
review the effectiveness of internal processes, policies and procedures to
ensure that they are adequate and support the business in mitigating the
Bank’s compliance risk exposure in a changing environment.
- To review and assess the
effectiveness of the various Management Committees, Departments and
Branches in mitigating against compliance risk exposure.
- To review and offer
advisory so that all new products and services are adequately assessed and
are guided by documented processes, policies and procedures to mitigate
any potential compliance risk exposures.
- To liaise and collaborate
with Risk and Internal Audit departments to identify areas of
non-compliance and ensure adequate follow up is done to remediate or close
any open issues.
Reporting – 20%
- To regularly review the
regulatory returns prepared and submitted to the Regulators and other
statutory bodies by the relevant departments for accuracy and timeliness
in submission.
- To prepare regular
reports providing updates om matters related to compliance with regulatory
and statutory requirements.
- To prepare regular
reports providing updates on matters related to compliance with the Bank’s
approved policies, processes and procedures.
- To assist in the
preparation of the compliance papers for the Executive Management and
Board, giving updates on the status of compliance with the relevant laws,
regulations and policies.
- To cooperate and
facilitate the provision of ad-hoc reports and or information to the
regulators as and when required.
Stakeholder Engagement / Training &
Sensitization – 10%
- To organize and
participate in the training and sensitization of Bank Staff and management
on the regulatory and statutory requirements and obligations.
- To organize and
participate in internal stakeholder engagements and assist management in
promoting a culture of compliance with regulations/ guidelines and
policies in the bank.
- To participate in
industry forums and network with counterparts in the industry with a view
of benchmarking and promoting compliance standards and best practice.
- To undertake other
activities as may be assigned by the line manager and the bank management.
Key Relationships
Direct
Reports to this Position:
- No direct reports to this
role at the moment. However, there is an expectation that the holder
should be a subject matter expert and be able to demonstrate confidence to
lead teams of peers, communicate and engage with senior members of staff
e.g. Managers in various departments/ units when undertaking compliance
reviews or when called upon to do so.
Key
Internal Stakeholders:
- All Branches and
Departments
Knowledge; Skills and
Experience required for this Role
- At least 5+years’
experience in a banking environment, working in Compliance and or Risk
role and with sound exposure and understanding of the relevant regulatory
and statutory requirements,
- Sound working knowledge
of the Banking Act, Prudential Guidelines and other relevant and
applicable laws, regulations,
- Minimum of a Bachelors’
Degree
- Professional
certifications in Risk and Compliance will be an added advantage.
Competencies required for this Role
- Good interpersonal
skills,
- Planning and organising,
- Good communication and
presentation skills,
- Proactive approach and
sound judgement,
- Strong analytical and
monitoring skills,
- Excellent report writing
skills,
- Attention to detail, and
high level of accuracy.
How to Apply
