Risk & Compliance Officer at Kimisitu Sacco

Reporting to the Senior Legal Officer, the Officer is responsible for providing business support and oversight to the enterprise-wide risk management (ERM) strategy and framework that effectively translates the risk appetite framework into informed decision-making practices to support SACCO business model and strategic plan.

Key Duties & Responsibilities:

• Managing the implementation of all aspects of the risk function, including implementation of processes, tools and systems to identify, assess, measure, manage and report risks.
• Identifying, assessing and monitoring risk on an ongoing firm-wide and individual entity basis and support in the implementation of internal controls which are effective in design and operation.
• Undertaking quality control reviews for the business units to ensure consistent implementation of policies and processes across all business units and identifying any gaps, challenges and improvement measures.
• Providing consolidated reporting, inclusive of an overall risk profile, ensuring that major risks are identified and reported to the Audit and Risk Management Committee on risk hotspots, measures and recommendations.
• Assisting in the development and managing processes to identify and evaluate business areas’ risks and risk and control self-assessments.
• Managing the process of developing risk policies and procedures, risk limits and approval authorities.
• Presenting to the management monthly & quarterly risk & compliance reports
• Ensuring that new policies and procedures & amendments of existing ones are verified and analyzed for risk mitigation.
• Conducting feasibility studies for new business distribution channels.
• Reporting on the Implementation matrix of Supervisory Committee, External Auditors and Internal Auditor Reports
• Implementing and managing the risk and control assessment reporting process as well as manage and maintaining management reports, follow up of issues identified for conclusive resolution
• Establishing systems, policies and procedures to identify, control, manage and measure enterprise-wide risks of the business
• Improving risk management readiness and creating an institutional culture that places high priority on effective risk management and adherence to sound operating controls at all levels
• through communication, training programs and risk-based performance measures
• Identification and mitigation of Cyber Security and other emerging risks
• Advising the Management and all staff in liaison with the Senior Legal Officer on emerging compliance issues, consulting and guiding the Sacco in the establishment of controls to mitigate risks.
• Reviewing and advising the management on risk associated with new products, processes, credit application and other internal processes
• Management and reporting of incidences as well as disaster recovery to ensure business continuity
• Risk assessment, monitoring and updating of risk registers
• Ensuring compliance with AML, SASRA, UFAA, Data protection and other emerging statutory and regulatory requirements in liaison with the Senior Legal Officer
• Ensuring the implementation of recommendations from internal & external audit while enforcing internal controls across the organization

Education, experience & competencies

• University degree in Finance, Accounting, Economics or any other relevant course Membership to a professional body is a requirement
• At least five (5) years of progressive and relevant experience, preferably in a financial institution
• Must possess excellent analytical, planning, organizational, time management as well as interpersonal skills