I&M Bank Uganda is a commercial bank headquartered at Kampala Road plot 6/6A with a growing regional presence. The Bank offers a wide range of commercial banking and financial products and services, and prides itself on introducing innovative products and services based on the needs of its customers. We are seeking to recruit a competent and highly motivated individual with extensive experience and abilities to support business growth in the following position:
JOB TITLE: Head Compliance
LOCATION: Head Office
REPORTS TO: Executive Director
To implement and maintain the Compliance Policy and Program, highlight incidents of non-compliance to senior management and advise the business regarding regulatory and internal policy requirements including Anti Money Laundering /Combating the Financing of Terrorism (AML/CFT) and Know Your Customer (KYC) requirement.
- Develop and implement systems, mechanisms and procedures to ensure that Bank staff immediately report suspicious money laundering or terrorism financing activity.
- Clearly define and articulate the compliance obligations for each functional area and department of the Bank with clear allocation of compliance responsibility.
- Strengthen compliance and AML risk Identification and assessment.
- Conduct an annual risk assessment relating to financial crime and Data Protection and incorporate conclusions into current policies and requirements.
- Develop and ensure maintenance of a robust system that tracks compliance to establish legal, regulatory and policy parameters and prompt escalation of any exceptions or weaknesses.
- Support management remediation plans for all incidence of non-compliance with policy/procedure and follow up implementation on a timely basis and escalating to the Board as necessary.
- Make practical and acceptable recommendations where systems and procedures are in need of enhancement to counter the risk of financial crime.
- Coordinate and maintain regulator relationships to ensure ease of communication, information sourcing, and achievement of response timelines.
- Maintain the correspondent and counterparty Bank Register with regard to AML/CFT & KYC requirements.
- Ensure that compliance to policies, procedures, standards and practices are properly communicated and followed by responsible Bank staff.
- Ensure preparation of monthly and quarterly compliance status reports for circulation to the Bank’s Board Committee and Management Committees.
- Periodically conduct audits and reviews to ensure execution of compliance standards.
- Develop, implement and monitor the robust mechanisms of tracking the Bank’s compliance to all laws, regulations and policies a tracker and review all Bank’s policies to mitigate risk of non-compliance.
- Conduct follow-up on the resolution of all identified compliance findings in Bank of Uganda examination reports, internal and external audit reports and oversee the implementation of corrective measures to mitigate the identified deficiencies.
- Monitor the enforcement and implementation of corrective measures noted in Compliance and Audit reports as per the Policies and Procedures, laws, rules and Standards.
- Develop the annual compliance work plan that reflects the organization’s unique characteristics.
Minimum Education Qualification:
- A professional qualification (ACCA, CFA, ACIB, CPA, etc.) and/ Masters added advantage.
- Bachelor’s degree (Laws/Commerce/Statistics/Economics, etc.)
- At least 7 years’ experience at Senior management level in a large reputable financial institution or related field.
- Conversant with the regulatory framework and the Bank’s operating environment
- Knowledge of KYC and Anti-money laundering regulatory requirements
- Able to personally deal with complex compliance issues.
- Demonstrates expert knowledge of Ugandan legislation affecting different Banking processes.
- Can analyse the impact of a new legislation/regulation on operations of the Bank and can translate these regulations/legislations into policies for the organization.
Note: Deadline for this job posting is 22nd March 2023 at 12:00pm and only shortlisted candidates will be contacted
- Salary Offer 300000 - 5000000 USD 300000 - 5000000 Month
- Address Kampala, Kampala, Uganda