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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

Click Here

Deadline: 22^nd March 2023 by 5:00pm

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