Position COMPLIANCE OFFICER

Location: Head Office

DUTIES & RESPONSIBILITIES

Advise Head of Compliance on the applicable laws, regulation, rules and standards and of any developments in these areas;

Adapt the Group’s written guidelines to staff and service providers

on the appropriate implementation of the laws, regulation, rules and standards

through policies and procedures (Compliance manual, code of conduct)

Centralise all information on compliance-related issues (e.g. breach of regulation, non-respect of procedures, conflict of interest) within the subsidiary;

Educate staff of the bank with respect to compliance with the applicable laws, rules and standards and act as advisor on compliance queries from staff members;

Liaise with relevant external bodies and regulators within the country on compliance matters;

Exercise any specific legal responsibilities (as it relates to the country) such as reporting suspicious transactions related to money laundering and the fight against terrorism financing;

Supervise appropriate compliance checks and controls within the subsidiary;

JOB OBJECTIVES

• Identify and evaluate the compliance risks within the country Organise, coordinate and structure compliance-related controls.
• Control and monitor all measures taken to mitigate the compliance risks. Develop a framework to constantly update the subsidiary on its compliance level with regulatory laws in the country.
• Quality training and sensitization of all staff of the bank on the relevant compliance issues.
• Liaise with Local AML enforcement agencies on AML and financial crime matters.
• Build a strong KYC environment and ensure zero level money laundering infraction

Identify and assess the compliance risks associated with the current and proposed future business activities, including new products and new business relationships the bank might undertake;

Identify and keep an inventory (available to all staff of the subsidiary) of essential laws and regulation pertinent to the bank

DUTIES & RESPONSIBILITIES

Co-ordinate AML/KYC routine examination by the relevant regulators in the country as appropriate;

Assess the appropriateness of internal policies, procedures and guidelines (as it relates to Corporate Governance, Code of Ethics and professional conduct), ensure a follow-up of any identified deficiencies, make recommendations for amendments, where necessary, and supervise the implementation of corrective measures to mitigate the identified deficiencies with particular reference to what is obtainable in the country;

Transaction monitoring and customer profiling of the different customers of the branch. This will include Customer Risk Assessment and profiling of customers into High, medium and low risk accounts.

Monitor the subsidiary’s compliance level with the Group’s Code of Ethics and professional conduct; Whistle Blowing Policy & Code of Corporate Governance taking into consideration what is obtainable in the country of domiciliation; and prepare monthly compliance status report for the Head of Compliance.

KEY COMPETENCY REQUIREMENTS

Knowledge:

• In depth knowledge of major statutory requirement affecting Tanzania’s banking sector
• BOT Prudential guidelines
• Country’s rules and regulations
• Excellent knowledge of internal policies and procedures

Skill/Competencies:

• Banking industry developments
• Basel II standards

AML & KYC trends

• Good communication and writing skills
• Good IT skills