Senior Officer, Statutory & Regulatory Compliance at SBM Bank

JOB SUMMARY:

To ensure that the Bank adheres to and is compliant with all the relevant laws and regulations e.g. Banking Act, Prudential Guidelines, Employment Act, etc. that govern the Bank's business and other related activities.

KEY RESPONSIBILITIES:

Oversight Compliance - 70%

• To research and keep abreast of any changes to laws and regulations and ensure the management and the Board are updated; 
• To actively participate in industry forums and workshops so as to keep abreast with new developments, best practices and/or changes in the laws and regulations;
• To advice and ensure that any changes to the regulatory reporting requirements are noted and tracked for compliance.
• To maintain a register of all regulatory and statutory requirements that the Bank is obligated to adhere to and the respective internal owners;
• To prepare and implement a detailed work plan to regularly review and assess the status of compliance with all the relevant laws and regulations through on-site and off-site reviews of business units and departments.
• To regularly assess the status of compliance with all the relevant laws, regulations and policies identified in the Regulatory and Statutory Compliance register;
• To ensure the Bank’s policy and procedures in place are in tandem with the regulatory requirements.
• To participate in the review and or development of new or existing policies and procedures of the Bank as may be required.
• To liaise and collaborate with the Risk and Internal Audit departments to identify areas of non-compliance and ensure adequate follow up to have the issues closed.

Reporting - 15%

• To review all regulatory returns submitted to the Regulator & other statutory bodies to confirm that the Bank is compliant.
• To prepare regular reports providing updates on matters related to compliance with statutory and regulatory requirements;
• To assist in the preparation of papers for the Management and Board giving updates on the status of compliance with the relevant laws, regulations;
• To cooperate and facilitate the provision of ad-hoc reports and or information to the regulators as and when required.

Leadership & Stakeholder Management - 15%

• To review all regulatory returns submitted to the Regulator & other statutory bodies to confirm that the Bank is compliant.
• To prepare regular reports providing updates on matters related to compliance with statutory and regulatory requirements; 
• To assist in the preparation of papers for the Management and Board giving updates on the status of compliance with the relevant laws, regulations; 
• To cooperate and facilitate the provision of ad-hoc reports and or information to the regulators as and when required.

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 all departments/units when undertaking compliance reviews or when called upon to do so.

Customers of this Position

• Board Risk Committee (BARC)
• Executive Management Committee (EXCO)
• Operational Risk Committee (ORCO)
• All Branches and Departments

Knowledge; Skills and Experience required for this Role

• At least 5+ years’ experience in a banking environment working in a similar role and with sound exposure to the various statutory and regulatory requirements.
• Bachelors’ degree.

Competencies required for this Role

• Leading teams
• Working with people
• Creating and Innovating
• Delivering results and exceeding customer expectations
• Planning and Organizing
• Learning and Researching
• Writing and Reporting

Accountability

• Delegated Authority