Manager, Compliance Risk Management at HF Group

Manager, Compliance Risk Management Principle Accountabilities

• Champion, train and educate staff on compliance risk management and act as a contact point within the Bank for compliance queries from staff members.
• Establish and maintain the bank’s compliance requirements’ inventory.
• Conduct and assess the compliance risks associated with the Bank’s business activities and operations including new products and services.
• Monitor legislative and regulatory changes that affect the bank’s operations and advise business units and the Board accordingly.
• Review business units’ policies & procedures and ensure compliance requirements relating to respective business units are adequately addressed.
• Train compliance risk champions and monitor their effectiveness in championing compliance culture within their respective business units.
• Conduct regular risk-based on-site compliance review within banking operations including branches.
• Receive and analyze all monthly Compliance self-assessment by departments and other business units.
• Monitor compliance programs that have been put in place to ensure adequacy.
• Work with auditors and examiners during regulatory compliance examinations.
• Liaise with external/internal auditors and follow-up on closure of compliance risk related issues, as well as non-compliance with internal policies, legislations, rules and regulations.
• To maintain an updated register of all regulatory and statutory requirements that the Bank is obligated to adhere to and the respective internal owners.
• To prepare and implement a detailed work plan to regularly review and assess the status of compliance with all the relevant laws and regulations through on-site and off-site reviews of business units and departments.
• To organize and participate in the training and awareness programs for staff on the relevant regulatory and statutory requirements and obligations.
• Assist in the preparation of papers for the senior management and the board providing updates on the status of compliance with the relevant laws, regulations.
• To cooperate and facilitate the provision of ad-hoc reports and or information to the regulators as and when required.
• Liaise with relevant external bodies, including Central Bank of Kenya, other relevant standard setters and external experts as appropriate on matters of mutual interest pertaining statutory compliance.
• Execute Money Laundering Reporting Officer’s (MLRO) responsibilities as stipulated under Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) including the following:
• Coordinate, monitor and review Anti-Money Laundering (AML), Countering Financing of Terrorism (CFT) and Countering Proliferation Financing (CPF) compliance program.
• Receive and vet suspicious activity reports from staff.
• File suspicious transaction reports with the Financial Reporting Centre (FRC).
• Coordinate training of staff in AML, CFT and CPF awareness including detection methods.
• In liaison with Head of Human Resources ensure all staff are screened.
• Plan, manage and undertake Compliance projects which may be assigned from time to time.
• Actively participate and represent the Bank in industry forums and workshops so as to keep abreast with new developments, best practices and/or changes in the laws and regulations.

Key Competencies and Skills

Technical Competencies

• Strong leadership and management skills.
• A sound understanding of regulatory framework. Grasp of CBK prudential/Risk guidelines, Basel Rules, Banking Act, POCAMLA, IFRS and other relevant statutes.
• Ability to prepare and submit accurate and timely regulatory reports.
• Ability to understand and document workflows and business processes.
• Strong analytical and monitoring skills.
• Good report writing and presentation skills.
• Ability to lean compliance teams and drive a compliance culture.
• Competency in drafting and updating compliance policies and procedures aligned with the regulatory changes.

General Competencies

• Leadership-Ability to lead a team and engage with Management.
• Strong written and verbal communication skills with stakeholders, regulators and internal teams.
• I.T. Skills (MS office).
• Ability to assess complex regulatory requirements and offer practical, risk-based solutions.
• Team player.
• High levels of professionalism and professional development.
• Honest with impeccable integrity (high ethical standards).
• Precision in interpreting regulations and reviewing compliance documents.
• Time Management and Organization.
• Interpersonal skills.
• Maintains accuracy and thoroughness in identifying compliance risks and control gaps.

Minimum Qualifications, Knowledge and Experience

Academic & Professional Qualifications

• Degree in Commerce, Law, Finance, Banking or a related field.
• Professional qualifications in the fields of Compliance, Finance, Financial Investments and Risk Management will be an added advantage.

Experience

• Minimum 6 years related working experience with at least 3 banking compliance roles.
• Strong understanding of banking regulatory landscape best practices.
• Familiarity with compliance management systems.

Manager, Compliance Risk Management Career Advice

I understand the evolving landscape of this critical field. In Kenya, professionals in managerial roles within this sector can expect competitive compensation. For instance, a Risk and Compliance Manager in Nairobi earns an estimated total pay of KES 502,583 per month . To excel and advance in this profession, consider the following actionable strategies:

SOURCE: (Glassdoor)

1. Pursue Relevant Certifications

Obtaining certifications such as Certified Compliance & Ethics Professional (CCEP), Certified Risk Manager (CRM), or Certified Internal Auditor (CIA) can significantly enhance your credibility and open doors to advanced roles. These credentials demonstrate a commitment to the profession and a mastery of essential skills.

2. Embrace Technological Proficiency

The integration of technology in compliance and risk management is accelerating. Familiarity with tools like Governance, Risk, and Compliance (GRC) software, data analytics platforms, and regulatory technology (RegTech) solutions is increasingly essential. Staying updated with technological advancements ensures efficiency and effectiveness in managing compliance risks.

3. Develop Strong Analytical and Communication Skills

Effective risk assessment requires strong analytical abilities to interpret complex data and identify potential compliance issues. Equally important is the capacity to communicate findings and recommendations clearly to stakeholders, facilitating informed decision-making.

SOURCE: (jcwresourcing.com)

4. Stay Informed on Regulatory Changes

The regulatory environment is dynamic, with frequent updates and new compliance requirements. Regularly reviewing industry publications, attending relevant workshops, and participating in professional networks can help you stay abreast of changes and adapt strategies accordingly.

5. Foster a Culture of Compliance

Beyond enforcing rules, successful compliance managers cultivate an organizational culture that values ethical behavior and compliance. This involves training staff, promoting transparency, and leading by example to embed compliance into the company’s ethos.

By implementing these strategies, you can enhance your effectiveness as a Compliance and Risk Management professional and position yourself for continued career growth in this vital field.