Job Title: Compliance Manager/ AMLCO
Organisation: Salaam Bank Limited
Duty Station: Kampala, Uganda
Reports to: Managing Director
About US:
Salaam Bank Limited stands proudly as a distinguished member of the Salaam Group of companies, a recognized and influential group within the Islamic finance sector in Djibouti. Its venture into the Ugandan financial landscape was characterized by a well-thought-out strategic acquisition of Top Finance Bank Ltd, positioning Salaam Bank as the first fully-fledged Islamic financial institution in the country.
Job Summary: The Compliance Manager will implement and maintain the Compliance Policy and Program, highlight incidents of non-compliance to the Board and 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) requirements.
Key Duties and Responsibilities:
- Develop and implement systems, mechanisms and procedures to ensure that Bank staff immediately report cases of non-compliance particularly relating to suspicious money laundering, proliferation financing or terrorism financing.
- Clearly define and spell out the compliance obligations for each unit/ department of the Bank with clear allocation of compliance responsibility.
- Strengthen compliance and AML/CFT/PF 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 noncompliance 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 Risk 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.
- Analyse the impact of a new legislations/regulations on operations of the Bank and translate these regulations/legislations into policies for the organization.
Qualifications, Skills and Experience:
- Bachelor’s degree (Laws/Commerce/Statistics/Economics, etc.)
- Possession of professional qualifications (ACCA, CFA, ACIB, CPA, etc.) and/or degree in a relevant field will be an added advantage.
- Three years of experience at Senior/Manager level in a reputable financial institution or related field.
- Conversant with the regulatory framework and the Bank’s operating environment.
- Knowledge of the regulatory framework around Islamic Banking.
- Knowledge of KYC and Anti-money laundering regulatory requirements.
- Demonstration of expert knowledge of Ugandan legislation affecting different Banking processes.
How to Apply:
All candidates who wish to join Salaam Bank Limited should apply online at the link below.
NB: Only shortlisted individuals will be contacted.
Deadline: 4th March 2024
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