Head of Financial Crime Management Employment Opportunity – DFCU Bank
Job Title: Head of Financial Crime Management
Organization: DFCU Bank
Duty Station: Kampala, Uganda
Reports to: Chief Risk Officer
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 Head of Financial Crime Management will plan, direct and coordinate Financial crime and fraud activities in the Bank focusing on customer experience, identification of potential fraud, fraud trends, and resolution thereof and build a strong compliance and speak up culture across all departments. To detect, minimize and prevent losses resulting from high risk and fraudulent monetary and non-monetary transactions. Failure to maintain proper ethical practices and adequate controls can result in regulatory enforcement actions including heavy fines or in worst case loss of Bank operating licenses.
Key Duties and Responsibilities:
- Effectively lead the management of Financial Crime risk and Internal investigations, design and integrate a strong risk management programme into the daily management of business and planning to give the Bank a competitive advantage, protect our reputation, lower the cost of capital, reduce costs and help us to minimise the risk of investigation, prosecution and penalties because we do the right things the right way.
- Establish, implement and maintain effective fraud and financial risk management and control systems, including policies and procedures, recommending internal controls, designed to ensure that all risk needs are met and minimise operational losses that impact negatively on the Bank’s capital.
- Design and maintain fraud, Bribery and Corruption training plans for the entire Bank staff and management and deliver training to the senior management and business heads on financial crime, fraud, policies and procedures, current industry practices, to raise staff awareness of financial crime issues, particularly “Whistle Blower” and the obligation to report suspected fraudulent transactions and unethical conduct.
- Ensure that all activity and transactions that are identified as potentially fraudulent and identified Bribery and corruption incidents are investigated as assigned from time to time to achieve specified objectives in line with the Bank’s standards for investigations including case management, data capture and reporting.
- Design financial crime surveillance and intelligence capabilities to monitor bank transactions for unusual activity and to escalate issues that require review or investigation.
- Conduct a root cause analysis on control and other failures and prepare and cascade lessons learnt from investigations as applicable and propose control improvements, enhancements, simplifications where necessary.
- Lead the team manage, coach and mentor and set departmental individual goals and targets for financial crimes team investigations department to achieve outcomes set out in the Bank’s conduct principles.
- Lead on Financial Crime related external and internal risk identification and anticipation of future trends. Work with the business to drive the development of appropriate mitigation strategies.
- Carry out Fraud Risk assessment from time to time, within the Bank and identify country level risks. Carry out deep dives on controls, process, products and give appropriate recommendations.to the management. Establish measures to identify potentially fraudulent activity and report to the relevant authorities locally.
- Build, implement and monitor new fraud tools and strategies to reduce fraud losses or improve customer experience. Provide intelligence inputs to support calibration of the Banks Risk Methodologies including aggregate client risk, product risk and country risk assessments.
- Provide subject matter expertise on Financial Crime intelligence and Investigations by developing/maintaining strong positive working relationships with business unit staff, peers, other risk partners in the industry, and senior management and by attending business unit meetings further by drawing on financial intelligence and law enforcement networks, professional qualification and experience.
- Acts as the interface between the Bank and, government security agencies and law enforcement on Financial Crime matters. Shares best practice with peers in the industry in order to position the Bank as “thought leaders” on Financial Crime Risk Management.
Qualifications, Skills and Experience:
- The applicant for the DFCU Bank Head of Financial Crime Management career placement must hold a Bachelor’s degree in business related discipline or Law.
- Certification in Fraud Examination.
- ACAMs or any relevant FCCA qualification is a plus.
- At least ten years of relevant experience gained in a financial institution.
- Experience in regulatory investigations, fraud investigations and/or transaction monitoring.
- Ability to synthesize volumes of complex information and distil it into varying degrees of detail to various audiences including senior management.
- Should be able to code using SQL with strong numerical skills.
- Proven experience in investigations at a forensic level.
- Strong stakeholder management skills
- Have a good knowledge of the international standards, laws and regulations relating to Financial Crime Risk, as well as knowledge of the local regulations and legislation on AML/CTF and sanctions.
- Strong analytical and decision-making skills.
- Strong responsibility and organization skills.
- Excellent communication skills – written and verbal including presentation skills.
- Strong learner, intellect and relater. Ability to work independently with minimal supervision and to complete tasks in timely manner. Self-motivated and self-reliant, with the ability to provide practical and effective advice.
- Inclusive style and good listening skills are required. Being able to accept challenge, listen to the other point of view and adapt your approach accordingly is essential.
- Good judgement. Excellent collaborative and team playing skills. Diplomacy, empathy and a ‘can-do attitude’.
- Politeness, sensitivity and the ability to gently, but professionally stand your ground when needed.
- An inquisitive approach to practices, procedures and specific transactions. Personal authority and integrity. Independence, creativity, resourcefulness and resilience.
- Sound working knowledge of MS Office suite particularly Word, Excel and PowerPoint.
- Must possess ability to assess risk, strong leadership qualities, excellent interpersonal skills and multi-cultural awareness and sensitivity.
- Strong Managerial and leadership skills.
- Ability to effectively interpret Regulatory statutes /Rules and guidelines.
- Sound understanding of compliance laws, rules and standards obligations, legislation and their practical impact on dfcu Bank’s operations.
- Effective research, good communication and negotiation skills.
- Self-motivation, result – oriented.
- In depth knowledge of banking products, policies and processes.
- Demonstrated Knowledge of Corporate Law, Corporate Governance and Laws /Regulations governing financial Institutions (Local and International).
- Sound understanding of legal issues and good exposure to auditing principles.
How to Apply:
All candidates who so wish to join the banking sector in the aforementioned capacity are encouraged to send their applications with detailed CVs including present position and copies of relevant professional/academic certificates (University Transcript, O & A level) to:
Vacanciesbank@dfcugroup.com
Deadline: 15th October 2019
NB: dfcu Bank does not solicit/accept payment in cash/kind from prospective candidates in exchange for shortlisting or job placement. Any candidate who engages in this kind of transaction is aiding and abetting fraud and will be automatically disqualified.
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