Jobs at Jubilee Insurance

Job Ref. No. JLIL200

Role Purpose

The job holder will be accountable for the compliance of the Life Business. The job holder will support services on all levels ensuring the company is compliant with internal Jubilee Insurance policies, all external regulations, acts and laws applicable in the insurance and financial services industry. The role holder plays a critical role in overseeing and implementing the company's compliance framework, thus mitigating compliance risks and upholding the highest ethical standards within the organization.

Main Responsibilities

Strategy

• Collaborate with senior management and other key stakeholders to implement the strategic direction for the Compliance Function with the Life Company. This involves analyzing market trends, assessing industry dynamics, and identifying opportunities for improvement and growth.
• Keep abreast of regulatory developments and industry initiatives and advise management accordingly.
• Data Privacy Impact Assessments: Conduct privacy impact assessments for new products, processes, or systems that involve the collection and processing of personal data.
• Data Retention Policies: Develop and enforce data retention policies to ensure data is retained only for the necessary period and in accordance with legal requirements.

Operational

• Ensures that applicable regulation is adhered to by the business and support functions through day-to-day monitoring and regular review to ensure compliance to existing legislation, regulations and internal policies and controls.
• Ensures that compliance risks are identified, assessed, controlled, and enforced.
• Suspicious transactions are identified and reported immediately.
• Review company processes/operational manuals and systems to ensure that they are regularly updated to meet the set regulations, policies, and all other requirements such as mandates, escalations, controls, etc.
• Identifying areas of compliance weakness and recommend remedial measures in consultation with the Heads of Departments, Regional Compliance Manager, and Regional Risk Manager.
• Work with Internal Audit on their recommendation on compliance related issues for implementation.
• Preparing departmental compliance training material and train staff and third parties within the business. Verify understanding through testing and work with the Compliance team on projects to increase compliance awareness.
• Preparing and presenting compliance reports to various stakeholders on a daily, weekly, monthly, quarterly and annual basis.
• Conducting continuous audits, reviews, and enhancements of processes/systems/documents and manuals with reference to laid down policies, regulations, laws, and best practices within the company.
• Report non-compliance and support the team in management of a crisis or compliance violation.
• Address employee concerns or questions on legal compliance.
• Demonstrate continued personal development within the compliance space.
• Any other duties that may be assigned by the Management.

Corporate Governance

• Compliance: Stay updated on industry regulations, compliance requirements, and best practices.
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
• Implement effective risk management strategies, including appropriate internal controls, to mitigate operational, financial, and regulatory risks.

Leadership & Culture

• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• To provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.
• Set performance targets and objectives, monitor progress, and ensure timely completion of activities.
• Conduct regular team meetings and training sessions to enhance skills and knowledge.

Key Competencies

• In-depth knowledge of life insurance regulations and industry practices.
• Strong understanding of AML, KYC integrity, and Data Privacy requirements.
• Analytical and problem-solving skills to assess and address compliance risks.
• Excellent communication and interpersonal skills to educate and advise stakeholders.
• Ability to collaborate effectively with cross-functional teams.
• Detail-oriented with strong organizational and time management abilities.
• Proactive approach to staying updated on regulatory developments.
• Leadership and influencing skills to drive data protection compliance initiatives across the organization.

Qualifications

• Bachelor’s degree in Insurance, Finance, Risk, Compliance, Law or any other related course
• Advanced degree or professional certifications in Risk & Compliance

Relevant Experience

• Minimum 3-4 years’ experience within the compliance sector, risk management and compliance space.
• In-depth knowledge of life insurance industry.
• 3. Proven track record of successfully implementing strategic initiatives and driving process improvements.

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Job Ref. No. JLIL201

Role Purpose

The role holder will be responsible for ensuring the Life Insurance Company's compliance with anti-money laundering (AML) regulations, mitigating financial crime risks, and maintaining a robust AML program. The role involves implementing policies, procedures, and controls to detect, prevent, and report suspicious transactions while safeguarding the company's reputation and financial integrity

Main Responsibilities

• Receiving and evaluating Suspicious Transaction Reports (STR’s) against internal business information and external sources and make an independent determination whether there are enough grounds for suspicion to warrant reporting the transaction to the Financial Reporting Centre (FRC).
• Maintaining, as proof of compliance, all the evaluation documents/information used in the STR determination process and other investigations.
• Maintaining a register of all STR’s reported to the authorities and those not reported.
• Acting as the main point of contact with government authorities. Ensure businesses meet all regulatory requirements and recommendations for AML/CTF compliance. Co-operate with any lawful information requests made by government agencies during their investigations.
• AML/CTF risk identification and management. Working with the business to identify high-risk operations (Products, Services, Customers, Geographical Locations, Distribution). Review the ML/TF risk profiling developed by the business, the adequacy and efficacy of implementation and controls instituted. Providing Senior Management and Board regular updates on the same.
• Establishing written and board approved AML/CTF policies. Working in conjunction with the business and compliance team to review internal processes/procedures regarding the AML/CFT, customer acceptance policies, to control ML/TF risks control measures to ensure alignment with the relevant applicable AML/CTF regulations and laws and provide assurance to the Senior Management and Board.
• In conjunction with the compliance team ensure that the business is continuously monitoring transactions, the customer risks, monitor and verify the internal effectiveness of the AML/CTF framework (policies, procedures, controls etc.) and all related activities.
• Provide advice to all relevant departments/ divisions in performance of their duties in accordance with the AML/CFT policy and regulations e.g., account opening, PEP status, and irregularity transactions including reporting the transactions as prescribed in regulations.
• Ensure all management personnel and staff are fully knowledgeable of the risks involved and about their responsibilities with regards to AML-CFT.
• Responsible for the development and implementation of a robust, continuous AML/CTF training program for all staff and intermediaries including the AML policy, CDD, EDD, recognition of suspicious transactions and internal reporting process. Maintaining relevant training registers.
• Support and advise business on how to establish internal procedures including clear accountabilities, roles and responsibilities to manage ML/TF risk; reporting of suspicious activity to the authorities; establish a risk-based approach to the AML/CTF Risks identified at onboarding, KYC data, document collection and verification for clients, beneficiaries and ultimate beneficial owners, and ongoing monitoring of customer activities.
• Assist Management with AML/CTF related inquiries from employees, business managers, internal and external auditors by providing information and guidance in a timely manner.
• Assist in reviewing escalated hits on the OFAC/UN Sanctions and other lists.
• Conduct annual reviews on AML/CTF compliance levels, efficiency, and effectiveness of the AML/CTF controls and monitoring programs and follow up closure of gaps identified. Communication of key developments and changes to the Senior Management and Board.
• Remaining fully up to date with AML/CTF legislation/guidance in the relevant jurisdictions and ensuring timely updates to implement changes in legislation/regulation, including being aware of countries that do not have adequate AML/CTF frameworks in place.
• Work with the HR function to ensure that all new staff are screened and employees that are in key positions and/or whose roles expose them more to AML/CTF risks.
• Handle other duties as assigned to assist with the effective administration of the AML/CTF and KYC Policies.

Key Competencies

• In-depth knowledge of AML regulations, laws, and industry standards.
• Strong analytical and investigative skills with attention to detail.
• Excellent communication skills, both written and verbal.
• Ability to work independently and make informed decisions in a fast-paced environment.
• Proactive approach to identifying and addressing AML risks and issues.
• Strong ethical and professional judgment, maintaining confidentiality and objectivity.
• Ability to collaborate effectively with cross-functional teams.
• Strong organizational and project management skills.

Qualifications

• Bachelor’s degree in Commerce, Finance, Law or any other related field.
• Certification by Association of the Certified Anti Money Laundering Specialists (ACAMS)
• Certification by Anti Money Laundering Compliance
• Member of the Association of Certified Compliance Professionals in Kenya/Africa

Relevant Experience

• A minimum of five (5) years experience in a similar position, within the Financial Services Industry

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Job Ref. No: JAML017

Role Purpose

The role holder interacts with all customers to provide them with information to address inquiries regarding products and services. In addition, they deal with and help resolve any customer complaints and implement initiatives to improve customer satisfaction levels and loyalty, while ensuring that the customers receive world class customer service experience

Main Responsibilities
Operational

• Greet and welcome clients visiting the office, providing a warm and friendly environment.
• Ensuring customer inquiries and complaints are promptly and effectively resolved within the required turnaround time.
• Interacting with the clients as the first point of contact between the company and the customers at service center.
• Selling additional products by recognizing opportunities to cross-sell or up-sell new benefits.
• Identifying and escalating complex customer issues to the appropriate departments for resolution.
• Collaborating with team members and other departments to resolve customer problems effectively.
• Contributing to team effort by accomplishing related results as needed.
• Listen to clients' inquiries, concerns, and requests, and provide accurate and timely responses.
• Assist clients with unit trust-related questions, claims inquiries, and general unit trust servicing.
• Process unit trust changes, endorsements, and cancellations accurately and efficiently.
• Update client information and unit trust details in the database.
• Build and maintain strong relationships with clients, fostering trust and loyalty.
• Identify and address client needs, offering suitable solutions and assistance.
• Follow up with clients to ensure their satisfaction and resolve any outstanding issues.
• Maintain accurate and up-to-date client records, ensuring confidentiality and data protection.
• Handle client correspondence via email, mail, or other communication channels.
• Investigate and resolve client complaints or issues promptly and effectively.
• Escalate complex or unresolved issues to the appropriate departments for further action.
• Keep detailed records of client interactions, inquiries, and issue resolutions.

Corporate Governance

• Compliance: Stay updated with industry best practices to ensure compliance with industry standards
• Adherence to the laws and regulations of Kenya, the policies and regulations within the asset management industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

Culture

• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.

Key Competencies

• Customer service and complaint resolution.
• Product and service knowledge.
• Database management and record keeping.
• Communication and interpersonal skills.
• Problem-solving and decision-making.
• Analytical skills for data analysis and reporting.
• Unit trust interpretation and communication

 Qualifications

• Bachelor’s degree in Business, Marketing or any other related course

 Relevant Experience

• Minimum 1-2 years’ experience in a similar role.
• Experience in effectively resolving customer inquiries and complaints.
• Familiarity with asset management or financial products and services is advantageous.