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Senior Specialist; Compliance Advisory – Retail Banking at NMB Bank Plc January, 2023 Job Description
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Job Location :
Head Office
Job Purpose:
  • Provide regulatory compliance expertise and guidance in an advisory capacity to Retail Banking (“RB”) business stakeholders in support of strategic initiatives and management of compliance risk.
  • Provide compliance advice and risk stewardship to RB business to ensure that appropriate compliance programs, policies, procedures and other controls are in place and operating effectively and satisfy supervisory obligations and regulatory expectations.
  • To identify and assess the compliance risks associated with the bank’s current and proposed future business activities, including new products, new business relationships and any extension of operations or network.
Main Responsibilities:
  • Develop a comprehensive understanding of the RB business model, strategy, and product and services in order to provide substantive oversight, support and challenge to enable sustainable business growth.
  • Build and maintain an effective and constructive relationship with RB business stakeholders that is based on trust, capability, and integrity, providing timely, responsive and quality compliance related advice and guidance to enable the bank to meet its strategic objectives.
  • Provide advice, analysis (and challenge when appropriate) to the RB business, including product design, new business initiatives, projects, remedial activities and transactional advice.
  • Provide robust challenge to all relevant RB business stakeholders where activities are outside of risk tolerance / appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance / appetite.
  • Provide timely advice to the RB business to ensure compliance with all relevant laws, regulations and internal policies (including those relating to AML and KYC/CDD) and support the transition to proactive and preemptive compliance risk mitigations.
  • Provide support and challenge to the RB business stakeholders to ensure that they establish and monitor appropriate processes for compliance with the bank’s policies and procedures.
  • Proactively monitor regulatory developments to manage the regulatory impact on the RB business and its operations and flagging any potential hotspots and risks.
  • Review RB business responses to regulatory feedback to ensure compliance issues raised in feedback are appropriately responded to and necessary corrective actions are initiated.
  • Provide oversight and challenge to Customers’ Complaint Handling Process to enhance customer experience. Oversee resolution of material complaints to ensure appropriate closure.
  • Proactively look for ways to improve the RB business control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
  • Identify and assess sources of compliance risks in the RB business and ensure that system and controls are appropriate to mitigate and manage risks within acceptable risk tolerance levels.
  • Maintain adequate management MI / trackers across all aspects of compliance coverage and responsibility to ensure all issues and matters relating to the RB business are tracked, followed, regularly assessed and reported on, including oversight of risk acceptance and /or mitigating action plans, identification and management of high-risk clients.
  • Analyze and interpret data to produce reports that help the RB business identify and manage emerging areas of risk / vulnerability and thus drive the relevant remediation actions.
  • Anticipate horizon compliance risks that may have a significant business impact and develop effective strategies to mitigate such horizon risks.
  • Propose control effectiveness and efficiency improvements and simplifications where appropriate.
  • Work with RB business stakeholders to assess risks arising from products, segments, geographies, customers and transactions.
  • Provide reports to the relevant business risk and control committees and management teams on key compliance risks and issues pertaining to the RB business.
  • Work with Compliance Assurance to assess the training needs for RB business and support provision of ongoing compliance training and awareness.
  • Provide support to key regulatory change programmes and projects across the RB business and branches.
  • Maintain workplans specific to regulatory projects / initiatives and communicate the same to stakeholders in a regular and timely fashion to inform and seek inputs.
  • Promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is a norm.
Knowledge and Skills:
  • Good understanding and appreciation of compliance risk management practices.
  • Good understanding of current and anticipated regulatory requirements and supervisory expectations.
  • Strong analytical skills and confidence in interrogating data, processes and interviewing stakeholders.
  • Able to interpret and communicate clearly to the business the application of relevant rules and regulations.
  • Sharp business acumen, including the ability to assess risks.
  • Excellent oral and written communication skills – ability to present complex information clearly and concisely.
  • Self-empowered to enable development of open communication, teamwork and trust that is needed to support true performance and customer service-oriented culture.
  • Personal authority, integrity and ethics, with proven ability to establish relationships and exert influence at senior levels.
  • Proactive and creative approach to work, self-motivated and pragmatic.
  • Exposure in effective risk management and ability to promote strong risk management culture.
Qualifications and Experience:
  • Bachelor’s degree or its equivalent in Law/Banking/Economics/Finance or related qualifications
  • Any additional relevant compliance related professional certifications will be an added advantage
  • At least 5 years of banking experience in Compliance, Risk management, Governance, Audit or any other related fields.
  • Experience in designing and implementing programs, policies, and procedures that will ensure compliance with local and international standards and best practices.

    NMB Bank Plc is committed to creating a diverse environment and is proud to be an equal opportunity employer

Job closing date : 20-Jan-2023

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