Head of Risk & Compliance at Corporate Staffing

Key Responsibilities:

Risk & Compliance

• Prepare an annual Risk and Compliance plan and seek approval from the management and Board Audit and Risk Committee (BARC)
• Identify and assess the risks associated with the bank’s current and proposed future business activities, including new products, new business relationships, and new business units.
• Conduct risk assessments on a scheduled plan on all bank operations as well as on any external influences and report periodically to management and BARC.
• Develop and maintain the bank’s compliance checklists.
• Review the risk management policies and Champion the overall implementation of the Enterprise Risk Management Framework and risk management best practices within the bank
• Maintain and update the bank risk registers and Monitor the implementation of the Bank’s Risk Appetite statement and risk limits by the Bank’s various business and support units.
• Prepare monthly ALCO and Management meetings reports as well as Quarterly BARC reports.
• Implement the bank’s stress testing policy framework and ensure effective processes are in place to identify, measure, manage, monitor, and report on risk exposures under stressed conditions.
• Carry out compliance reviews and snap checks on compliance with banks’ internal procedures and policies.
• Train the bank staff on Risk management practices to improve on risk awareness and culture of the bank.
• Monitor implementation of all Audit recommendations
• Prepare and file compliance reports with CBK.
• To perform any other duty as assigned in line with the organization’s goals and objectives.

Money Laundering Reporting Officer (MLRO) Duties

• Ensure that the business is continuously monitoring transactions and customer risks.
• Receiving and evaluating Suspicious Transaction Reports (STR’s) against internal business information and external sources.
• Report suspicious transactions and handle enquiries from Financial Reporting Centre (FRC).
• Act as the main point of contact with FRC. Ensure businesses meet all regulatory requirements and recommendations for AML, CFT & CPF compliance.
• Establishing AML, CFT & CPF policies for board approval.
• Support and advise business on how to establish internal procedures to manage ML/TF/PF and how to perform their duties in accordance with the AML, CFT & CPF policy and regulations.
• Carry out AML Risk Assessments on new / enhanced products, services, and channels; periodically carry out comprehensive AML Risk Assessment for the bank activities/exposures.
• In conjunction with the business team, review internal processes/procedures regarding the AML, CFT & CPF and customer acceptance policies.
• Conduct continuous reviews on AML, CFT & CPF compliance levels, efficiency, and effectiveness of the AML, CFT & CPF controls.
• Assist in reviewing escalated hits on the UN Sanctions and other lists.
• Work with the HR function to ensure that all new staff and existing employees holding key positions which may be exposed to AML, CFT & CPF risks are screened.
• Preparing and presenting compliance reports to various stakeholders on a daily, weekly, monthly, quarterly, and annual basis
• Conduct internal AML and KYC trainings as provided by CBK prudential guidelines.

Qualifications:

• University degree in Accounting, Commerce, Economics or Business Management/Administration, Financial engineering, Actuarial science, or related business degree (Must)
• Certified Anti-Money Laundering Specialist (ACAMS) or its equivalent (AA)
• Post graduate training/Certification in Risk management from a recognized body (AA)
• A minimum of 7 years’ experience in risk/compliance discipline in a busy organization, with strong understanding of overall banking operations, systems, and processes.
• A sound understanding of Enterprise Risk and Compliance Management principles and philosophies.
• Demonstrate understanding of local, regional, and global AML/ KYC, FATCA and CTF compliance regulations within the financial services industry.
• Knowledge of the Kenya Financial Services Industry and regulatory frameworks.
• Knowledge of emerging regulations and trends e.g. Data Protection Regulations, ESG reporting.
• Prior experience of designing and implementing risk and compliance management policies, procedures, and processes.
• Excellent analytical skills
• A dynamic self-starter with ability to prioritize and to work independently as well as in a team.