Specifically, the successful jobholder will be required to:
Monitor key risk indicators and develop mitigations against each risk indicator.
Monitor agents & parent branches to ensure compliance with all operational procedures, limits & responsibilities in Agency Banking, including Agency banking selection & maintenance criteria.
Maintain continuous engagement with business units & Risk Control & support groups to carry out compliance risk monitoring, analysis & reporting on any new products introduced in Agent Banking.
Collect and collate data relating to agent breaches on compliance and make recommendations to Regional Managers and head of Agency Banking.
Prepare internal & external compliance status reports with regard to internal & external compliance issues on a monthly basis.
Update all Risk issues and occurrences on the Risk Universe and closure all cases forwarded to the department on Risk Universe.
Support the agency operations in monitoring CBK compliance and audit as well as pproviding accurate regulatory reports and monthly returns to CBK at the prescribed time.
Constant review of the systems to ensure key risks are identified and mitigations put in place.
Gather and consolidate market intelligence for improvement of existing product offering, processes and procedures and make recommendations for improvement.
Review, update and document agent banking processes and procedures to ensure all compliance areas are covered.
Ensure adherence to policies, processes, procedures as per documented operating standards (SOPs) including compliance with AML/KYC guidelines to mitigate frauds and operational losses.
Skills and competencies:
A Bachelor’s degree preferably in a business related field from a recognized University.
Possession of Anti-Money Laundering diploma or Professional certification with an organization, such as the Association of Certified Anti-Money Laundering Specialists (ACAMS), will be a distinct advantage.
Minimum of 3 years’ experience in a similar role or as a Compliance Officer with hands on experience in handling AML issues and suspicious transaction monitoring systems.
A Good understanding of relevant regulatory requirements, CBK Prudential and Risk Management guidelines with a sound knowledge of Bank processes and procedures.
Track record of good judgment, enabling the provision of sound advice in difficult areas of AML/CTF issues and the proactive management of legal, regulatory and reputational risks.
Knowledge of prevention of money laundering and financing terrorism (AML/CFT) laws and regulations.