POSITION OBJECTIVE

The key objective of the post is to ensure effective management of the bank’s compliance risk. In accordance with Bank of Tanzania Guidelines and International best Practice. Oversee and manage bank’s Compliance Policy and Procedure Manual. Ensure the Policy is observed by all staff in the bank. To carry out annual review of Compliance Policy and its Procedure Manual as well as Anti Money Laundering Policy of the bank. Advice Management on the best practice approach in managing Compliance risk.

 KEY RESPONSIBILITIES

§      To monitor compliance with prudential internal policies, procedures, and limits applicable to all bank functions.

§      Support Senior Management on compliance laws, rules, and standards, including keeping them informed of developments in the area.

§      Support Management in achieving Anti-Money Laundering control and compliance related matters.

§      Branch monitoring on and adherence to Regulation requirement and directives.

§      Review of Head Office units to measure its compliance with Regulatory requirements, policies, and procedures.

§      Review of daily Bank's Liquidity Report and identify gaps with a proposed solution.

§      To measure and monitor exposures to credit risks.

§      To participate in the review of bank's policies.

§      To carry the central role of educating staff on compliance issues and acting as a contact point within the bank.

§      Establish written guidance to staff on the appropriate implementation of compliance laws, rules and standards through policies and procedures and other documents such as compliance manuals, internal codes of conduct and practice.

§      To be proactive in identifying, document and assess the compliance risks associated with the bank’s business activities, including the development of new products and business practices, the proposed establishment of new types of business or customer relationships, or material changes in the nature of such relationships.

§      To be a member of Bank’s Product Development Committee.

§      Continuously tracking and measure compliance risk or problems (e.g. by using performance indicators) and use such measurements to enhance compliance risk assessment. Some of the potential compliance problems (e.g. an increasing number of customer complaints, irregular trading or payments activity, etc).

§      To have the ability to assess the appropriateness of the bank’s compliance procedures and guidelines, promptly follow up any identified deficiencies, and, where necessary, formulate proposals for amendments.

§      To be able to monitor and test compliance by performing sufficient and representative compliance testing. The results of the compliance testing should be reported up through the compliance function reporting line in accordance with the bank’s internal risk management procedures.

§      To generate and submit reports on compliance matters as per Compliance Policy and Procedure Manual. The reports should refer to the compliance risk assessment that has taken place during the reporting period, including any changes in the compliance risk profile based on relevant measurements such as performance indicators, summarize any identified breaches and/or deficiencies and the corrective measures recommended to address them, and report on corrective measures already taken commensurate with the bank’s compliance risk profile and activities.

§      Work as the Anti-money laundering reporting officer. It may also liaise with relevant external bodies, including regulators, standard setters, and external experts.

§      Requirement for setting up a compliance programme that sets out its planned activities, such as the implementation and review of specific policies and procedures, compliance risk assessment, compliance testing, and educating staff on compliance matters. The compliance programme should be risk based and subject to oversight by the Director of Risk Management and Compliance to ensure appropriate coverage across businesses and coordination among risk management functions.

§      To be active in introducing new ideas which aimed at strengthening compliance functions and Anti-Money Laundering across the Bank.

§      Ensure all regulatory requirements in terms of publications, displaying and functioning of all security tools are implemented across branch networks.

§      To perform any other duties that might be assigned by superior

PROFESSIONAL AND INTERPERSONAL DETAILS

Education: Degree in Business/Law/Finance/Accounting/Economics and Knowledge in Anti-Money Laundering. Will be added advantage

Experience: Working experience in for at least three years in compliance/Anti-Money Laundering/legal matters of banks; familiar with Bank of Tanzania Risk Management guidelines.

Demonstrated experience in managing Compliance and Anti-Money Laundering function including developing policy and procedures for Compliance and Anti-Money Laundering.