Compliance Officer at Bank of Africa Kenya Limited

Job Purpose

• Responsible for monitoring the bank’s compliance with external and internal regulations, laws, rules, policies and procedures.
• Responsible for controlling and managing all risks related to money laundering, financing of terrorism and compliance with financial embargoes/sanctions.

Responsibilities and Accountabilities

• Regulatory and Statutory Compliance; Ensure reports to the regulators are submitted within required timelines by;
  • Ensuring Compliance with due diligence and KYC requirements as per regulatory requirements and international best practice.
  • Monitoring banks implementation of CBK prudential guidelines.
  • Ensure timely submission of CBK, FRC, FATCA, UFAA, Group reports and other regulatory reporting requirements.
  • Ensuring that any new and amendments to the relevant laws and regulations are communicated and implemented
  • Correspondent banking; Compliance with internal and external requirements on correspondent banking KYC;
    • Annual review of KYC documentation with correspondent Banks and other counterparties.
    • Facilitate responses to correspondent Bank AML and KYC queries.
• Screening and Monitoring ; Ensure daily monitoring, screening and blacklisting of alerts as appropriate by ;
  • Reviewing and treatment of alerts triggered by the Various screening and monitoring systems put in place including Core Banking system and triggers from other manual processes.
  • Managing the various blacklists.
  • Identifying and reporting of suspicious transactions/activities.
• Research on compliance related matters; Participating in research of compliance related matters.
• Participate in Training and development of compliance related matters to stakeholders:
  • Carrying out training and awareness actions related to compliance areas for the Bank staff.

Minimum Requirements

Work Experience

• Minimum 3 years’ banking experience in compliance or risk department with a good understanding of Bank policies, procedures, and external regulations.
• Demonstrated expertise and in-depth knowledge in Banking Operations and Controls.
• Demonstrated expertise and in-depth knowledge in AML/CFT and KYC Controls
• Good understanding of Central Bank Prudential guidelines, Basel Rules, Banking Act, IFRS and other relevant statutes in Banking.
• Evidenced knowledge and understanding of the current banking and financial services operating environment, trends, and practice, related regulatory and governance guidelines and requirement, and applicable laws.

Academic & Professional Qualifications

• University Degree in Business or related field such as Economics from a recognized institution.
• Certifications in ACAMS, CPA, CFE or any relevant profession is added advantage.

Application deadline is 30th September 2022.