Job Description

Senior Manager, Regulatory & Statutory Compliance

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, CBK Guidelines & Circulars, etc. that govern the Bank's business and other related activities.

KEY RESPONSIBILITIES:

Leadership and Stakeholder Management

  • To seek, develop and maintain relationships with the Regulators and other key stakeholders,
  • To assist and guide Management in responding to enquiries or requests from Regulators and other stakeholders as appropriate,
  • To organize and participate in the training and awareness programs for Staff on the relevant Regulatory and Statutory requirements and obligations,
  • To promote a compliance awareness culture in the Bank,
  • To deputise the Director, Compliance and undertake other activities as assigned from time to time.

Oversight Compliance with all the Relevant Regulatory & Statutory Requirements

  • To research and keep abreast of any changes to laws and regulations and prepare regular updates to management and the Board,
  • To actively participate and represent the Bank 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 review the Bank’s policies and procedures and ensure that they are aligned to 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

  • To review reports/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 providing 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.

Direct Reports to this Position

  • Compliance Officers in the section

Key Internal Stakeholders 

  • Board Risk Committee (BARC)
  • Executive Management Committee (EXCO)
  • Operational Risk Committee (ORCO)
  • Branch Managers & Heads of Department

Knowledge; Skills and Experience required for this Role

  • At least 7+years’ experience in a banking environment, working in a similar role in Compliance or Risk departments,
  • Sound working knowledge of the Banking Act, Prudential Guidelines and other relevant and applicable laws, regulations,
  • Minimum of a Bachelors’ Degree,
  • Professional certifications in Risk and Compliance will be an added advantage.

Competencies required for this Role

  • Leadership-Ability to lead a team, and engage with Management.
  • Ability to prepare and facilitate training as a Subject Matters Expert (SME).
  • Excellent verbal and written communication skills.
  • Collaboration/Team player.
  • Risk assessment skills.
  • Planning and Organising.
  • Learning and Researching. 
  • Critical thinker with good analytical capabilities.
  • Proficiency in use of MS Office tools especially excel.

 

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