The Head of Compliance Management is responsible for overseeing all compliance-related activities to ensure that the Bank adheres to internal policies, legal frameworks, and regulatory requirements. The role involves identifying and managing regulatory risks, ensuring the Bank's operations Comply with all relevant laws, and mitigating risks related to non-compliance. This position will also be responsible for implementing and maintaining an effective compliance program, conducting risk assessments, and advising senior management on compliance issues.
The Head of Compliance Management will liaise with regulatory bodies, ensure the Bank's compliance with Anti-Money Laundering (AML) laws, and Know-Your-Customer (KYC) protocols, and develop a culture of compliance across all departments.
RESPONSIBILITIES
§ Develop and implement the Bank’s compliance management framework and program, including policies, guidelines, and procedures, to ensure adherence to applicable laws and regulations and alignment with regulatory requirements and internal policies.
§ Develop and implement a comprehensive compliance program
§ Regularly review and update compliance policies in response to regulatory changes emerging trends and industry standards
§ Ensure that the Bank's operations and transactions comply with CBN and other regulatory bodies’ guidelines.
§ Establish compliance policies and procedures to ensure the bank meets its legal and ethical obligations.
§ Monitor and ensure compliance with relevant local and international regulations, including BOFIA, CBN guidelines, anti-money laundering (AML) laws, KYC requirements, and Nigeria Data Protection Regulations (NDPR) to ensure the bank’s compliance with current laws and regulations.
§ Coordinate all compliance audits and examinations conducted by regulatory bodies, ensuring smooth and successful completion.
§ Serve as the key liaison with regulators, providing accurate and timely responses to inquiries and audit requests.
§ Ensure timely and accurate submission of regulatory reports and documentation.
§ Provide guidance and training to employees on regulatory requirements and compliance best practices
§ Identify and assess compliance risks and develop strategies to mitigate those risks.
§ Work closely with other departments to ensure that compliance risks are effectively managed and addressed.
§ Implement and oversee compliance controls and processes to minimize risk exposure.
§ Conduct regular compliance risk assessments to identify potential vulnerabilities in the Bank’s processes, products, and services.
§ Develop and implement risk mitigation strategies to minimize regulatory, financial, and reputational risks.
§ Establish controls and monitoring systems to ensure compliance with risk management guidelines.
§ Develop and deliver training programs to educate employees on compliance policies, procedures, and ethical standards.
§ Promote a culture of compliance and integrity throughout the organization.
§ Address compliance-related inquiries and provide support to employees on compliance issues.
§ Conduct regular training programs for employees on regulatory compliance, KYC, AML, and other relevant issues.
§ Ensure that all staff are up to date on new regulations, compliance procedures, and the Bank’s internal compliance policies.
§ Develop and promote a culture of compliance within the Bank, ensuring that compliance is an integral part of daily operations.
§ Conduct regular compliance audits and assessments to identify potential risks and areas for improvement.
§ Design and implement monitoring tools and procedures to track compliance with legal and regulatory standards.
§ Monitor compliance with internal policies and procedures, and ensure corrective actions are taken where necessary.
§ Prepare and present regular compliance reports to senior management and the board of directors on compliance risks, issues, and corrective actions, highlighting key issues and recommendations.
§ Ensure timely submission of regulatory filings, reports, and notifications to relevant authorities.
§ Ensure effective implementation of the Bank’s AML and KYC policies, including monitoring transactions to identify potential suspicious activities.
§ Investigate and report any suspected cases of money laundering or fraud to the appropriate authorities.
§ Ensure that the Bank adheres to international best practices for combating money laundering and terrorist financing.
§ Oversee the implementation and monitoring of internal controls to prevent and detect compliance violations.
§ Conduct or coordinate investigations into compliance breaches, fraud, and other unethical behavior.
§ Collaborate with legal and audit teams to address findings and implement corrective actions.
§ Maintain relationships with regulatory bodies, industry associations, and other stakeholders.
§ Represent the bank in compliance-related matters and regulatory meetings.
§ Respond to regulatory inquiries and coordinate with external auditors and consultants as needed.
REQUIREMENTS
§ Bachelor’s degree in Accounting, Finance, or a related discipline; a Master’s degree is an added advantage.
§ Professional certification in risk management or compliance, such as Certified Risk Management
§ Professional (CRMP), Certified Compliance & Ethics Professional (CCEP), Compliance Institute of Nigeria (CIN) or Membership in International Compliance Associations (CAMS).
§ Membership in relevant Nigerian or regional professional associations, such as the Institute of Chartered
§ Accountants of Nigeria (ICAN) or the Chartered Institute of Bankers of Nigeria (CIBN).
§ Minimum of (12) years of cognate experience, with at least five (5) years in a senior management position.
§ Experience in crisis management and developing crisis management strategies.
Please note this role is located in Abuja.
Job Type: Full-time
Pay: ₦25,000,000.00 - ₦35,000,000.00 per year
Application Deadline: 30/11/2024