The Senior Risk & Compliance Officer plays a critical role in facilitating risk identification and assessment across the organization. Reporting to the Group Head of Risk and Compliance, you will be responsible for maintaining risk registers, implementing compliance programs, and ensuring adherence to Anti-Money Laundering (AML) laws and Counter Terrorist Financing (CFT) protocols.
Key Responsibilities
Risk Management
Facilitate the identification and assessment of risks in line with the Group’s Enterprise Risk Management framework and update outcomes in the risk registers.
Monitor risks and prepare reports to management and other risk committees on various aspects of risk management.
Proactively follow up on action plans put in place by management to address risk exposures and report on the same.
Conduct risk analysis and quantification of financial and insurance risks through sensitivity analyses and stress testing for major projects.
Implement risk and compliance policies and procedures.
Keep abreast with applicable laws, regulations, rules, and standards in the risk & compliance fraternity and advise on emerging developments.
Scan environmental risks and identify new threats and opportunities that may impact the business.
Create awareness on risk management to facilitate embedding a risk-conscious culture across the Company.
Coordinate Business Continuity Planning (BCP) in conjunction with the Group Head of Risk and Compliance.
Compliance
Implement the annual compliance program incorporating legal, regulatory, and internal policies & procedures for all group entities.
Ensure all applicable legislation is complied with through day-to-day monitoring and regular review of internal controls.
Maintain correspondence with all regulators on regulatory and supervisory issues.
Implement an ethics program and report on the status of compliance.
Anti-Money Laundering (AML)
Implement a robust Anti-Money Laundering and Counter Terrorist Financing Programme and advise on new laws affecting the group.
Inform and advise employees and third parties of their obligations under the POCAMLA Act.
Monitor compliance with POCAMLA Act and AML policies, ensuring relevant and continuous staff training and auditing procedures.
Act as the contact point with regulators and the Board on AML/CFT activities, including reporting suspicious transactions.
Provide advice regarding AML/CFT Compliance Risk Assessments and monitor performance.
Other Responsibilities
Provide training to management and staff by organizing, designing, and delivering Risk and Compliance training programs.
Requirements and Qualifications
Academic: Bachelor’s degree in Finance, Business, IT, Risk Management, or an equivalent.
Professional: Professional certification such as CPA (K), CISA, CIA, or QMS Lead Auditor.
Specialized Qualifications: Risk Management and Compliance qualifications are required. AML Certifications are an added advantage.
Experience: At least 4-8 years in a risk management environment within a large organization, preferably in the financial services or insurance industry.
Skills: Proven exposure to Internal Control Systems, excellent report writing, presentation skills, and IT proficiency (MS Excel, statistical packages, and analytical tools).
Competencies: Analytical thinking, problem-solving skills with attention to detail, and understanding of Quality Management Systems (QMS).
