Reports to: Head of Risk & Compliance
Department : Risk & Compliance
Location: Head Office, Nairobi
This role is responsible for the management of money laundering and terrorist financing risks, in particular, the role holder is required to assess the potential threat to the Bank of money-laundering and terrorism financing activities and ensure appropriate processes have been designed and implemented to manage and mitigate these risk.
The role holder is also responsible for ensuring compliance with applicable money laundering laws, rules and regulations and the Bank’s Anti-Money Laundering Policy; practices, procedures and controls.
- Handle the management and execution of second line monitoring and assessment program for Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF).
- Improve and maintain AML/CTF policies and procedures.
- Ensure compliance with the AML/CFT regulatory framework put in place by local and international stakeholders.
- Ensure up to date comprehensive Compliance matrix, based on all the relevant legislations/regulations, to ensure that the Bank and its local subsidiaries comply with all the relevant legislations and regulations.
- Support in the improvement of AML/ CFT tools to monitor, analyze, and report suspicious activity.
- Handle file reviews of suspicious activity to ensure compliance with the policies and procedures put in place.
- Identify and inform any changes to legislation and other regulatory requirements relating to AML/CTF.
- Support in the design, development, and implementation of AML/CFT risk assessment framework.
- Provide relevant compliance reporting to ensure the completion and proper analysis of suspicious activity reports that have been conducted.
- Ensure detailed and prompt investigation of all AML/CTF incidents and cases.
- Help with identifying any AML/CTF loopholes and coordinating projects to bridge those gaps.
- Support in general compliance awareness and refresher training.
- Involvement in projects as needed to ensure AML\CFT concerns have been addressed.
- Provide subject matter expertise to business on matters relating to AML|CFT.
- Conducting ongoing testing of the Bank compliance with the POCAMLA regulations.
- File suspicious transaction reports with the Financial Reporting Centre (FRC).
- Ensure that the anti-money laundering compliance programme is followed and enforced within the Bank.
- Support the Bank’s departments in audits (internal and external) as a key interface with regulators/auditors on AML/CFT issues. Proactively engage with examiners, review audit findings, evaluate the business’ corrective action plans to deal with issues highlighted and track progress till closure.
- To respond to compliance questions and concerns of the staff and advice branches/units and assist in providing solutions to potential issues involving compliance and risk
Required qualifications, experience and attributes
- Degree in Law, Business, Finance or Compliance related disciplines
- Masters of Business Administration or a related field will be an added advantage
- Extensive regulatory knowledge (Local and international AML\CFT regulations, FATCA, etc.)
- Professional Certification in AML/CFT e.g. Certified Anti-Money Laundering Specialist (CAMS) or any other Financial Crime Professional certification.
- Minimum seven (7) years’ working knowledge of the diverse financial products offered by financial institutions, at least five (5) years in a Compliance/Risk function.
- Excellent communication and interpersonal skills;
- Ability to establish priorities, plan, coordinate and monitor own work plan
- Strong negotiation skills;
- Good understanding of relevant regulatory requirements, CBK Prudential and Risk Management guidelines
- Ability to understand and interpret financial information and principles
- Exceptional analytical and investigative skills
- Ability to develop and lead a team.