Senior Compliance Officer Job Opportunity – DFCU Bank
Job Title: Senior Compliance Officer
Organisation: DFCU Bank
Duty Station: Kampala, Uganda
Reports to: Head of Compliance
About US:
DFCU Bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.
Job Summary: The Senior Compliance Officer will;
- Support and assist the Board and Senior Management to discharge their accountability for compliance risk management and compliance with applicable statutory, regulatory and supervisory requirements.
- Support the Head of Compliance, and the embedded business risk management function to discharge their responsibilities relating to the compliance risk management process as required by relevant regulatory requirements, applicable codes of conduct and minimum standards.
- Assist Business Unit Heads and the embedded business risk management function by providing advisory services to guide Business Unit Heads in discharging their responsibility to comply with applicable statutory, regulatory and supervisory requirements in order to:
- Protect the reputation of the Bank;
- Avoid legal action against the Bank;
- Promote a good working relationship with supervisors/regulators; and
- Enable the Bank to demonstrate to regulatory authorities and other stakeholders that it is “fit and proper” to undertake its business.
- To maintain and develop a thorough understanding of the relevant regulatory requirements applicable to the Bank; thereby facilitating the establishment of a compliance culture.
- To provide advice and guidance to the business units.
Key Duties and Responsibilities:
People Management:
- Support and maintain strong team dynamics and culture.
- To interact with each Business Unit to ensure co-ordination and effective management of compliance processes.
Regulatory Universe
- Provide input to the respective Business Unit) Regulatory Universes and the Bank’s overall Regulatory Universe.
- Provide assistance to the Business Unit in the completion and or maintenance of BU specific Regulatory Universes.
Compliance Risk Management Plans (CRMPs)
- Ensure in conjunction with the BU(s) that specific CRMPs are developed.
- Ensure there are customised CRMP’s for all high-risk legislation pertinent to the BU(s) and in line with the compliance plans for the year.
Advisory
- Analyse and identify compliance risks, processes & controls and provide advice to management, relevant committees, within the Business Unit and the embedded business risk management function and employees, to effectively manage compliance issues.
- To attend and participate in the Bank’s relevant committees, meetings, business processes and initiatives to ensure that any compliance requirements are appropriately considered.
- Provide assistance and advice on compliance issues specific to the BU(s) (new businesses, products, and other initiatives such as projects).
- Advise on Compliance Related Legislation affecting the respective BU(s);
- Facilitate a comprehensive and up to date understanding of the status of compliance and regulatory matters.
Reputational Risk
- Safeguard the reputational risk of the Bank by ensuring the BU(s) supports the reputational risk standards and related reputational risk policies & procedures.
Monitoring
- In line with the compliance monitoring plan, monitor compliance with regulatory requirements and mandates in order to identify further areas of improvement and detect significant compliance breaches and exposures.
- Assist and advise the Business Unit on the resolution of compliance audit/ monitoring issues.
Compliance Manuals, Standards, Policies/Procedures & Training
- Ensure the maintenance and alignment of the Bank’s Compliance Manual.
- Assists, as and when required, in the development drafting and updating of policies, procedures and related training programmes
- Ensure all training which has been tailored for Business Unit are signed off and, if appropriate, assist in the delivery of the training and awareness.
- Assist, and where necessary, facilitate the governance of dispensation/s when BU policies and procedures deviate from the minimum standards.
Regulatory Requirements
- Remain aware of regulatory and legislative developments, and practices of regulatory authorities, which are relevant to the Business Unit.
- Assist the BU(s) in implementing existing, new and/or amended regulatory requirements.
- Assess and advise the Business Unit timeously and effectively on the impact of regulatory developments.
- Ensure and track that the appropriate regulatory framework is in place for the BU(s) to adequately manage compliance risks.
Compliance Culture
- Actively promote and ensure that a culture of compliance is established in the BU(s) supported.
- Cultivate relationships within the Business Unit (s) which results in the BU committees or other relevant forums proactively seeking Compliance involvement in their dealings.
Feedback, Reporting & Escalation
- Utilise established mechanisms for reporting and resolving non-compliance with regulatory requirements.
- Immediately report material compliance related matters to the Head Compliance.
- Complete formal monthly and quarterly compliance reports as may be required by the Bank governance structures and regulatory requirements.
- Ensure cooperation by the Business Unit (s), for corrective action regarding audit, regulatory findings and breaches.
- Monitor in conjunction with the Business Unit(s), the timely and effective implementation of the plans, escalating progress and results to the Head Compliance.
Other
- Responsible for researching, assessing, and monitoring new developments in relevant bank related legislation and regulatory sphere, and updating bank personnel in a timely manner.
- Gap analysis on new and existing Legislation
- Maintain an up to date inventory of Bank Policies, Procedures, Processes & Circulars
- Monitoring compliance to Corporate Governance standards and Reporting
- Monitoring and reporting on compliance to funders requirements
- Monitor market abuse as a theme of compliance.
- Monitor compliance to Regulatory & statutory reporting timelines
- Monitor relevant Global legislation that affects how the Bank operates i.e. Fatca, GDPR, Volcker & others
- Deliver on other tasks as may be required from time to time.
Qualifications, Skills and Experience:
- The ideal applicant for the DFCU Bank Senior Compliance Officer job must hold an LLB or a business degree. Certification in regulatory compliance or ACCA or CPA is an added advantage.
- At least three years of experience in financial services and or working in a fast-paced and dynamic regulated environment.
- Stakeholder management skills.
- Critical thinking and problem-solving skills.
- Detail-oriented with strong research skills.
- Proficient in Microsoft Office (Word, Excel, PowerPoint, Project)
- Confidentiality and sound business judgment.
- Ability to Exercise discretion when performing duties assigned.
- Objective thinking.
How to Apply:
All suitably qualified and interested candidates are encouraged to send applications with detailed CV’s including present position and copies of relevant professional/academic certificates (University Transcript, O & A level) to the email address indicated below; Vacanciesbank@dfcugroup.com
Deadline: 16th December 2019
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