Compliance Manager

Work Reference No.: 26/25

Reporting to: Head of Risk and Compliance

Job Purpose

The Compliance Manager ensures the bank complies with all applicable regulatory requirements, internal policies, and ethical standards. The role leads the implementation of the compliance framework, monitors regulatory risks, supports AML/CFT efforts, and fosters a culture of compliance across the institution.

Main Responsibilities

Regulatory Compliance

• Ensure VFT’s full compliance with applicable laws, regulatory requirements, and guidelines issued by the Central Bank and other regulators (e.g., BAFIA, Country Labor Laws, AML/CFT, KYC, data protection, consumer protection).
• Conduct annual regulatory gap analysis and recommend the establishment or enhancement of missing controls.
• Maintain the regulatory tracking log and ensure timely submission of all regulatory reports and returns.
• Act as the primary liaison with regulatory bodies and manage regulatory inspections or audits.

Compliance Monitoring & Testing

• Develop and implement compliance monitoring plans to assess adherence to internal policies and external regulations.
• Annually revise compliance working papers and reporting templates to support risk and compliance officers in conducting regular compliance reviews.
• Conduct regular compliance reviews and assessments across departments.
• Report breaches, non-compliance, and gaps with corrective action plans.
• Provide oversight to Risk and Compliance Officers for all regulatory and internal compliance requirements.

Policies and Procedures

• Assist the Head of Risk and Compliance in developing, renewing, and enforcing compliance-related policies and procedures.
• Ensure all internal policies align with legal, regulatory, and best practice requirements.
• Track and report compliance issues, breaches, and key compliance indicators to senior management.
• Lead internal compliance reviews and investigations of potential breaches.
• Maintain a centralized repository of current compliance policies and procedures, ensuring accessibility and version control for all stakeholders.

Training & Awareness

• Develop and implement an annual compliance training plan for the Risk and Compliance Team and VFT staff.
• Annually review and develop internal controls training materials for staff.
• Conduct training for the Risk and Compliance Team on compliance risk assessments, root cause analysis, and other compliance-related topics.

Reporting

• Prepare and submit monthly compliance reports to management.
• Review and submit compliance review reports conducted by Risk and Compliance Officers from all regions in a timely manner.
• Maintain compliance dashboards and key performance indicators (KPIs) for the bank and Risk and Compliance Officers.

Performance Appraisal Responsibilities

• Lead the performance appraisal process for Risk and Compliance Officers, ensuring alignment with departmental goals and regulatory expectations.
• Set clear performance objectives and KPIs for compliance staff, focusing on effectiveness, timeliness, and accuracy of compliance activities.
• Conduct regular performance reviews, provide constructive feedback, and identify areas for improvement and professional development.

Advisory and Supervisory Role

• Provide compliance advisory services to business units on new products, partnerships, or initiatives.
• Participate in product development and project committees to ensure regulatory compliance.
• Advise senior management on emerging regulatory risks, changes in laws, and strategic compliance implications.

Required Skills, Knowledge, and Competencies

• Bachelor’s degree in Law, Finance, Risk, Business, or a related field (professional certifications such as CPA, ACCA, CAMS, CISA, or ICA preferred).
• At least 5 years of experience in banking compliance, legal, or audit roles.
• Strong knowledge of regulatory frameworks governing the banking sector.
• Experience with AML/CFT, KYC, and consumer protection regulations is essential.
• Strong analytical and investigative skills.
• Ability to influence and advise senior management and business teams.
• Detail-oriented with strong problem-solving capabilities.
• Understanding of ESG and data privacy regulations is an added advantage.
• Strong experience in working in an anti-money laundering environment, preferably evidenced by a relevant qualification.

Attributes Desired for All Positions

• Honest, hardworking, friendly, and focused.
• Local language skills.
• High standards in regard to quality of work.
• Able to work independently and as a team member.
• Attention to detail.
• Experience in banking or microfinance.
• Commitment to the social mission of microfinance.

Application Process

Interested and suitably qualified individuals should:

• Forward their application letter, attaching certified copies of academic and professional certificates, detailed CVs with three referees, and National ID to application@vftz.co.tz.
• Address applications to: The Chief Executive Officer, VisionFund Tanzania Microfinance Bank Limited, P.O. Box 1546, Arusha, TANZANIA.
• Use the position title as the subject of the email application.
• Submit applications by 31st August 2025.

Note: Only short-listed candidates will be contacted.

Disclaimer VisionFund Tanzania Microfinance Bank has not engaged any consultant or agent to conduct recruitment on its behalf.