Job Title: Head Compliance
Organisation: I&M Bank Uganda
Duty Station: Kampala, Uganda
Reports to: Executive Director
About US:
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.
Job Summary: The Head Compliance will 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.
Key Duties and Responsibilities:
- 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.
- 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.
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Qualifications, Skills and Experience:
- The applicant must hold a professional qualification (ACCA, CFA, ACIB, CPA, etc.) and/ Masters added advantage.
- Bachelor’s degree (Laws/Commerce/Statistics/Economics, etc.)
- Seven years of 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.
Note: Only shortlisted candidates will be contacted.
How to Apply:
All suitably qualified and interested applicants should apply online at the link below. Please ensure to attach your academic credentials
Deadline: 22nd March 2023 by 5:00pm
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