Job Purpose

The position has the key responsibility to identify, evaluate, monitor, and control or mitigate all risks unique to the bank both present and emerging. The position also requires the holder to ensure the institution fully complies with the regulator (Central Bank of Kenya), industry, and legal regulations in its day-to-day operations.

Key Duties and Responsibilities

• Identify and assess the compliance risks associated with the bank’s current and proposed future business activities, including new products and new business relationships.
• Conduct Risk Assessments and develop key risk indicators for monitoring and reporting.
• Stress testing of the various key risks facing the bank.
• Conduct internal AML and KYC trainings as provided by CBK prudential guidelines.
• Coordinate and provide training programs related to specific risk management processes and assess the operational effectiveness.
• Review transactions to ensure that high-value transactions are identified and appropriately reported to the regulator.
• Monitor client financial activities to ensure they are legal and in compliance with internal and external bank policies.
• Prepare reports regularly to senior management to keep them updated on the progress of compliance operations.
• Organize compliance programs to educate bank staff on recent and already existing compliance requirements.
• To coordinate department heads on updating the risk register and tracking closure of action plans.
• Develop an operational risk database and update compliance reports periodically to maintain the agreed benchmarks.
• Escalation of overdue recommendations to Executive Management and review reports for monitoring risk of the Banks as may be required.
• Champion the integration of risk management into the strategy of the Bank
• Manage risk profile mapping to new products, processes, and procedures in compliance with company and regulatory policies.
• Oversee and implement tracking of audit recommendations, incident reports, and compliance recommendations and ensure that the recommendations have been implemented within the agreed time frame provided in the inter-departmental service level agreements..
• Perform any other duties that may be assigned from time to time.

Job Requirements and Experience

For appointment to this grade, a candidate must have:

• Bachelor’s degree in Business, Economics, Actuarial Science, Law, or any other related discipline from a recognized institution.
• Master’s degree is an added advantage.
• Eight (8) years of experience in a financial institution, four (4) of which were in a managerial capacity within the risk and /or compliance function
• Professional certification in Risk Management or Compliance or any relevant professional qualification(s) e.g. ACCA, CPA(K), CIA, CISA
• Knowledge of the Kenya Financial Services Industry and regulatory framework
• Sound understanding of Enterprise Risk and Compliance Management Principles and Philosophies
• Anti-Money Laundering Professional Qualification (ACAMS)
• Membership to a relevant professional body in good standing
• A management course/training from a recognized institution
• Fulfill the requirements of chapter six of the constitution