Senior Officer-Regulatory Compliance at Commercial International Bank (CIB) Kenya

Job Purpose Statement

• Responsible for maintaining a robust governance and regulatory framework within the bank and monitoring adherence to governance-approved policies, ethical standards, and controls as well as monitoring adherence to regulatory compliance policies and standards.
• Responsible for the management and implementation Compliance risk frameworks, risk identification, assessments and mitigation strategies for the Bank and ensuring that these aspects are embedded into the operations and culture of the Bank in consultation with the Regulatory and Corporate Governance Manager

Key Responsibilities

• Remain up to date on Governance Requirements and Regulations and recommend amendments to policies and procedures accordingly.
• Review job descriptions versus department guides and make sure that department guides comply with both the approved job description and the organization chart.
• Ensure that no duplication of responsibilities or duties exists between different departments and that proper segregation of duties is in place for all positions.
• Ensure that reporting lines in different departments are aligned with the department scope and are not conflicting with the department objectives.
• Conduct appropriate analysis and support in the pre-approval process for instances that result in or may result in a conflict-of-interest situation, such as staff outside business activities, staff relatives, gifts, etc., and ensure appropriate mitigation controls are in place as mandated by the conflicts of interest policy.
• Obtain facts and information that support the Corporate Governance Manager and
• Head of Compliance Officer in solving conflicts of interest when evident.
• Implement approved department policies, processes, and procedures and monitor adherence so that work is carried out in a controlled manner.
• Contribute to the preparation of governance and regulatory compliance periodic reports to the senior management, the board's relevant committees, and components of the bank's annual report.
• Provide training and advice to all employees on the applicable governance policies, ethical standards, Regulatory compliance and their roles and responsibilities.
• Ensuring the Bank complies to all regulatory requirements, and carrying out required intervention plus managing regulatory changes, monitoring, and tracking implementation of new, updated regulations /laws/codes/circulars, keep Compliance Universe updated.
• Carry out gap analysis on new, existing and updated regulations and advice relevant departments on the course of action outline an action plan to follow up for closure of the gaps identified.
• Review, recommend and follow up actions towards compliance with regulatory inspection findings while ensuring adherence by respondents to management responses on corrective action plans.
• Ensure timely submission of regulatory returns to various regulators in collaboration with the relevant functions.
• Undertake regulatory compliance assurance reviews in relevant major projects instituted by the Bank.
• Ensure proper documentation and archiving of regulations and compliance and governance records
• Any other duty that may be assigned by the Line Manager

KEY PERFORMANCE INDICATORS

• No fines or penalties due to noncompliance.
• Non-financial impact incidences due to non-compliance
• Full compliance with regulatory and internal policies and applicable laws and regulations.
• The percentage of the Regulatory, Governance Work Plan that has been completed.
• Total & On-time Regulatory Compliance (e.g., reporting)
• The materiality of regulatory and audit findings
• Sufficient training to develop skills and maintain qualifications

Professional Qualifications and Experience:

• A bachelor's degree in business, economics or a related field.
• A minimum of five (3) years’ experience in compliance in the banking sector with a good understanding of governance, local and international regulations and Compliance risk management, and banking operations
• Knowledge of Banking regulations and applicable laws and corporate governance regulations and applicable laws.
• Experience within the control areas will be of added value.
• Certification in Governance, Risk & Compliance Management will be an added advantage.

Skills/Competencies:

• Report writing and dashboard presentations.
• Observance of a code of governance, conduct, and ethical standards.
• Unquestionable commitment to integrity and maintaining confidentiality.
• Ability to manage and collaborate with diverse teams and relationships.
• Excellent interpersonal and communication skills.
• Critical thinker, and Attention to detail,
• Ability to draft policies, and procedures and report on findings